Second mortgages are available to borrowers that already have an existing first mortgage.  Listed below are a few of the types of mortgages that are available.  Interest rates are a function of two things: one your credit and two the equity of lack of equity that you have in your property.

Second mortgages are used for many purposes such as paying off credit card debt, funding motor vehicle or recreational vehicles, funding a college education, making an investment or even funding that lifetime vacation.

Very often when a client discusses the possibility of a second mortgage with us we will determine if it is less expensive to redo the existing first mortgage plus accomplish all of the goals that a second mortgage would have to a new first mortgage.  Remember if your existing first mortgage has a short term remaining it doesn't mean that a new first mortgage will have to go back to a 30-year mortgage.  A new mortgage could be obtained for 20, 15, and even 10-years and in most cases put you into a better financial posistion.