Taking out a second mortgage on your primary residence can provide you with cash that you could use to buy an investment property. Qualifying for a second mortgage is not a given, however. It requires ...

Self-employed and interested in tapping into your home's equity with a second mortgage? A bank statement loan can help you bypass traditional tax return requirements, which can muddle the reality of ...

Refinancing a second mortgage can be done by adjusting the rate or term of the secondary home loan or combining it with your primary mortgage. Homeowners with two mortgages may consider refinancing ...

Did you know your home can serve as collateral for multiple loans at once? If you take out a loan that’s secured by your home when you already have a primary mortgage, your new loan is called a second ...

A closed-end second mortgage is a type of home loan that allows homeowners to borrow against their home's equity while keeping their primary mortgage unchanged. This type of loan provides a lump-sum ...

Investment Property 2nd Mortgages Using Alternative Income Such as Bank Statements and P&L Homeowners can leverage home equity with second mortgages—explore 2nd mortgage rates, benefits, and loan ...

A second mortgage is a loan against a home that also has an existing first mortgage. In a home foreclosure sale, the first mortgage lender gets repaid before the second mortgage lender. Applying for a ...

We might earn a commission if you make a purchase through one of the links. The McClatchy Commerce Content team, which is independent from our newsroom, oversees this content. You have a sizable ...

You can refinance a second mortgage on its own fairly easily. Refinancing first and second mortgages together requires you to meet certain requirements but it is possible. Refinancing your primary ...

In 2023, home purchases slowed across the board due to low levels of inventory, high mortgage rates and soaring home prices. Simultaneously, the appetite for second homes also diminished substantially ...