Are Second Mortgages Risky?

The word around town used to be that 2nd mortgages were risky loans that were only used when people were in dire straits. The times are changing and the perception of second mortgages may be less risky than previously believed.

Start saving money today by consolidating all of your debts into one low payment. We can help you pay off your debts quicker with a second mortgage. Our second mortgage and debt consolidation loan programs are available whether you have equity or no equity.

We guarantee the best programs online for second mortgage loans. There are no up-front costs and have no obligation to commit to our financing programs. We currently have 2nd mortgage programs available in most states. (Call for underwriting loan updates)

Second Mortgages up to $ 300,000 Apply Now!
You can get financing for Consolidation, Home Remodeling or new property purchases.

1st Time Home Buyer Programs for borrowers who have been in the home for less than 1 year.

Second Mortgage rates are determined by credit scores and combined Loan-to-Value ratios on the property.


Credit Scores are Important Factor in 2nd Mortgage
If you are considering refinancing your home or taking out a home equity loan, print out a current copy of your credit report. You should know your credit scores and how your payment history stacks up over the years. Even people, who are never late on a payment, need to look at their credit report every so often. Creditors make mistakes, such as not closing a credit line that was paid, or displaying inaccurate balances for credit card accounts. Low fico scores can hinder your chances to obtain the best possible second mortgage.

A good score can help you qualify for a larger loan amount and this might be able to help you consolidate debt saving you thousands of dollars in interest. Your fico score is a numerical summary of the information created by Fair Isaac Corp. FICO scores range from 300 to 850, and the average score is around 670. You generally need a score of 720 or higher to qualify for the best interest rates. Paying your bills on time is the best way to maintain a good credit score.

 

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