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2nd Mortgage
Consider fixed rate 2nd mortgage loans and FHA mortgages for cash out, adjustable rate refinancing, credit card consolidation and loan modifications for bad credit borrowers who are turned down by their lender. Nationwide is a 2nd mortgage banker that prides themselves in specializing in home equity loans, FHA mortgage refinancing and subordinate financing. We offer low rate second mortgage liens with both fixed and adjustable rate options.
Homeowners across the nation are seeking 2nd mortgage loans rather than 1st mortgage refinancing, because they already have a good interest rate fixed for 30 years.
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Lock into a Fixed rate 2nd Mortgage
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Rather than paying the refinance costs and suffering from a higher interest rate 1st mortgage just to get $30,000 or $40,000, many people are migrating towards home equity loans for debt consolidation and financing quick cash injections.
Select a fixed rate 2nd mortgage or an adjustable rate line of credit. It is not too late to fix your variable rate 2nd mortgage. Nationwide Mortgage Loans is an industry leader for second mortgages that allows homeowners to borrow money without having any home equity.
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Refinance Adjustable Credit Debt with Second Mortgage Loans Saving You Cash
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If you are looking for a 2nd loan to help lower your monthly payments by consolidating credit cards and refinancing other adjustable rate debts, then ask your mortgage broker about our limited time Free Appraisal offer.
Have you been considering taking out a 2nd Mortgage on your home in order to fund home improvements, consolidate debts, or simply cash out? Interest rates are still at historic lows, so there's no time like the present! A 2nd Mortgage could provide enriching options for improving your financial outlook and can be a great way to consolidate high-interest debts. We can help you explore the different type of 2nd mortgages. Even if you have had credit problems in the past, we specialize in 2nd mortgages for people with bad credit.
- Cash Out 2nd Mortgage
- No Equity Loan Modifications for Bad Credit
- Fixed Rate 2nd Mortgage Refinancing
A 2nd Mortgage could provide enriching options for improving your financial outlook and can be a great way to consolidate high-interest debts. We can help you explore the different type of 2nd mortgages. Even if you have had credit problems in the past, we specialize in 2nd mortgages for people with bad credit.
| Discount 2nd Mortgage Rates |
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Fixed Rate- Simple Interest Payments |
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Loan Modifications to 125% |
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Cash Out for Home Improvement |
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Consolidate Credit Card Debt and
Save! |
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2nd Loans for Good and Bad Credit |
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Refinance all of your bills into
1 Low monthly Payment. |
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No Mortgage Insurance |
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Linda's Advice for maintaining flexibility with a 2nd mortgage
Ask Linda? |
Home values have been increasing rapidly in many states across the country. If your value increases positively in the first few years of your loan, it may be advantageous to pay off the 2nd mortgage with a new loan that has lower rates rewarded for increased home equity. If that happens you won't have to pay off a pre-payment penalty in your new loan. Ask your loan officer if there are options for No pre-payment penalty with your 2nd mortgage options. |
Should I Finance a Second Home for Investment Purposes with a Fixed or Adjustable Rate Mortgage? |
If you do not have the cash to put down on a second home, but have equity in your primary residence or other property you could utilize it in purchasing your investment property through a home equity loan or 2nd mortgage, and refinancing your current mortgage. Twenty-eight percent of investors with an investment property mortgage used their primary residences to procure down payment funds and you may be able to do the same. If you have not taken advantage of the lower rates since you purchased your primary residence, mortgage financing is something you should consider immediately while the rates are still low even if you are not looking at an investment. |
Are there any Tax Advantages with Second Mortgages? |
Tax advice should always be cross referenced with your accountant. In most cases, the interest paid on second mortgages is deductible to 100% combined loan to value. That means that you can deduct the interest as long as the total of first and second mortgage don't exceed the value of your home equity. We suggest you get more details, from your professional tax advisor, because your needs and the laws can vary by state.
Linda Nelms |
| To learn more about Second Mortgage Loans Click Here |
Nationwide Home Equity Loan Spotlight |
 125% Home Equity Loans
125 loans have become the first choice of cash out refinancing for first time homebuyers who have no equity. These second mortgages enable borrowers to exceed the appraised value with loans amounts that go to 125%. Homeowners can eliminate adjustable rate debts, refinance variable credit card interest and get access to additional cash to finance some home improvements.
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2nd Mortgage Program Highlights |
2nd Mortgage up to 125% : Fixed rates and fixed monthly payments. |
No Equity in your home? No problem! Nationwide specializes in loans for homeowners that leveraged to the roof of their home. Consider getting approved for a second mortgage for home construction, remodeling, bills consolidation, financing education, buying a car, etc.
We suggest paying off debts and lowering your monthly payments with a low rate 125% 2nd mortgage.
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100% : 2nd Mortgage Fixed rates and fixed monthly payments |
Nationwide has been able to offer very competitive rates with expanded parameters for credit score, loan size, and LTV restrictions for 2nd mortgages because that is our corporate niche.
We offer both fixed & adjustable rate 2nd mortgage products allow customers to know what the payment will be for the entire life of the mortgage.
- 125% 2nd Mortgages from $25,000 to $500,000
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Nationwide specializes in Low Rate 2nd mortgages from coast to coast.
We offer every type of second mortgage, from fixed rate loans to adjustable home equity lines for multiple purposes. The most common uses for 2nd mortgages are debt consolidation to pay off loans and credit cards that have higher interest rates. We look for applicable solutions that will reduce monthly expenses significantly. This means you will have more money in your pockets rather than the credit card companies. Our second mortgage products were created so people with of all credit levels, could eliminate high interest debt and get money to renovate their home.
Defining 2nd Mortgage Terms |
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2nd Mortgage |
Combined Loan to Value (CLTV) |
Second mortgages are secure liens that are taken out by homeowners and the lender places the new loan in 2nd position on title. 2nd mortgages can either be taken out as fixed rate installment loans or as revolving home equity credit lines of credit. When you sell your house the proceeds go to the 1st mortgage lender first, then the 2nd mortgage lender second, followed by real estate commission and the remaining money goes to you, the seller. |
C.L.T.V. stands for Combined Loan to Value. This is an important 2nd mortgage term because it evaluates the amount of equity you have after the 1st and 2nd loan are added up for a total mortgage balance owed. To calculate the CLTV, simply add the first and second mortgage balance together and divide that total by the estimated value of the home. |
Equity Line of Credit (Heloc) |
Fixed Rate Mortgage |
| A home equity line of credit is also called a heloc. These 2nds are secured against your home, but unlike traditional installment loans, they are revolving lines that are similar to a credit card. Equity lines of credit are popular with many homeowners who like to access lines to finance home improvements. Home equity lines have variable rates. |
Fixed Rate mortgage loans generally have set terms (usually 15, 20, 25 30 or 40 years) with set monthly payments amortized with specified repayment terms. The second mortgage rate and the monthly payments are the same every month until the loan is paid in full. |
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| Resource Tools |
Loan Comparison Calculator
This calculator will help you to compare the total mortgage interest charges of 4 types of loans.
Refinancing Calculator
Analyze the benefits of refinancing. Get help calculating the monthly payment and discover the net interest savings. It will also calculate how many months it will take to get a return on investments for the mortgage loan costs.
Find the best loan in your state
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| Free Finance Guides & Helpful Consumer Reports |
Take advantage of our free guides and disclosures that help 1st time homebuyers.
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