With the refinancing boom officially over, second mortgage loans are fresher than ever. Many homeowners have been blessed with low-interest home loans that they want to keep. The need for cash didn’t go away with the refinancing boom, so second mortgages and home equity loans will be the preferred loans for years to come. Anyone with a 30-year fixed-rate loan below 6% should keep their existing loan intact and get a second home loan if they need cash. The Federal Reserve has hinted that more rate hikes are coming, so if you’re a mortgage broker or lender, it’s time to brush up on your second mortgage product line, because people still need access to cash and there’s no better way. to do so. to achieve this.

125% Home Equity Loans

You don’t need any equity, and this loan program will allow you to exceed your home value by up to 125%! These second mortgages are typically offered with a fixed interest rate for repayment terms of 15, 20, or 25 years. If you have high-rate loan or credit card debt, this is a great loan for eliminating compound interest and saving money. IHE executive Sandy Sarconi stated: “There is no better way for a working family with no value in their home to reduce bill payments and get out of debt.”

* Second Mortgage at Fixed Interest Rate

* Without mortgage insurance ever

* Second mortgage without capital

Second Mortgage of Declared Income

More and more people are looking for reduced documentation loans. More and more people have become freelancers, and many people just like the streamlined process.

* Declared Income Equity Loans

* No income, no assets, second mortgages

* Verified Home Equity No Income

* No refinancing of document shares

Second lines of mortgage credit

Interest rates are sure to be variable. Yes, the Fed has raised the prime rate index eight times in recent years, but people love the low payments on interest-only loans. People also love the flexibility of only having to pay interest on the money they access. Where else can you get money by waiting for you without having to make payments until you use spend cash?

* Interest only payments

* Home credit lines

In 2006, the often timid second mortgage emerged from the shadow of the first mortgage and became the cool loan of choice.