 |
Second Mortgage 105%
Nationwide Mortgage Loans offers free loan quotes for 105% second mortgage loans for purposes of financing home improvements, refinancing, debt consolidation and cash out. Take a second and compare our wide variety of second mortgages that are available for people with all types of credit. These 2nd loans are similar to 125% mortgages, because they require no equity, but this loan allows your combined loan to value to go up 5% beyond the value of your house. Typically, the lenders will be a bit more forgiving with credit scores than 125% loans because there is less of a risk.
Why are 105% interest rates not any better than 125% mortgage rates?
Both 105% and 125% second mortgages are considered risky loans, because the lender really has no collateral or recourse when you have no equity in your home. Some would argue that 105% loans are less of a risk than 125% loans and that is why we have expanded guidelines for 105% 2nd mortgages. With 105% loans you are allowed to have increased loan amounts than with 125% loans. Maximum loan amount size can be a critical factor when refinancing 80-20 purchase loans.
If you need cash for home improvements, but don’t have any equity, then the 105% second mortgage is a great choice of home financing. The 105% loan is popular with people consolidating credit card debt or someone wanting to refinance their variable rate line of credit into a fixed rate loan. Nationwide introduced this second mortgage to help homeowners qualify for a 2nd mortgage without needing equity as collateral. Relax at home comparing interest rates and second mortgage terms and conditions. Nationwide Mortgage Loans is one of the few lending brokers to offer equity loans and 2nd mortgages behind negative amortization loans and payment option ARM’s. Call 1-800-242-6986 to get more information from a professional loan officer.
| 105% Second Mortgage |
|
| • |
Fixed Interest Rate Terms |
| • |
No Equity Needed! |
| • |
Loans to 105% of home value |
| • |
Cash Out for Home Improvements |
| • |
Refinance Credit Card Debt |
| • |
No Full Appraisal Required |
| • |
Consolidate all of your Credit into One Low monthly Payment. |
| • |
1st time Homebuyer Programs |
|
|
|
|
|
