Third Mortgage
Hard Money Lines of Credit and Private Money Loans

A third mortgage is a loan that is subordinated to existing first and second mortgage liens. It is very rare to find home equity lenders that offer 3rd mortgages these days. They were much more common in to the seventies and eighties before the savings and loan scandals changed to course of home mortgage loans. Third mortgages are liens that are prioritized lower than first or second mortgage loans. It is possible to find properties still that have two, three mortgages or land contracts at the same time. Third mortgage programs are very difficult to find these days; however there are a few private money and hard money lenders that continue to offer this type of alternative financing.

Get Help Securing a Low Rate 3rd Mortgage from Nationwide

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Third Mortgage Benefits • Hard Money Lines of Credit • Debt Consolidation Loans • 3rd Mortgage Refinancing • Interest Only Payment Options • Third Mortgage Lines of Credit

Lien position is relevant because in a foreclosure proceeding, the legal entities would determine which mortgage lenders are paid first based on lien position on title. Discuss your goals with a loan officer that works for a lender like Nationwide that offers hard money equity loans.

3rd Mortgage Lines of Credit- Some home equity lines are considered 3rd mortgages. Like the fixed rate third mortgages, it is very difficult to locate a mortgage broker or bank who will offer you a secured line of credit in 3rd position. It is possible, so if you have equity in your home, and you want to leave your existing first and second mortgages out of the refinance, then a third mortgage credit line may be an option for you to get cash.