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Second Mortgage Rates & Refinance Rate Quotes
Nationwide Mortgage Loans provides second mortgage rates and refinance rate quotes at no cost for borrowers seeking cash out, FHA fixed rate refinancing and interest only home equity line of credit. Homeowners with fair credit or no equity who are stuck in an adjustable rate mortgage should refinance into a FHA mortgage that provides fixed rate protection for thirty years. Borrowers with good credit and equity should consider refinancing with a conforming mortgage with low prime interest rates that are also fixed. Both conventional mortgages and home equity credit lines allow borrowers to select an interest only payment.
Second mortgage interest rates began the year rising rapidly, but after a series of mortgage rate hikes, the Federal Reserve has left the key interest rates unchanged. The result has been very favorable for consumers seeking fixed rate second mortgage loans and home equity lines of credit. The interest rates for mortgage refinance loans have reached record low levels, and the application volume for refinancing and taking out a second mortgage has begun to increase again. Nationwide consistently offers competitive interest rates for second mortgages, debt consolidation refinancing and home equity loans for borrowers with all types of credit.
Competitive Mortgage Refinance Rates that Reduce Interest and Save You Money! |
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Low Rate Second Mortgage Loans and Credit Lines for Consumers who want more finance options. Unique 2nd Mortgage Loans from Nationwide:
- Interest Only Conventional Mortgage Rates
- Cash Out FHA Mortgage Refinance to 95%
- Fixed Rate & Term FHA Refinancing to 97%
- Purchase Money 80-20 Loans
- Sub-Prime Second Mortgages
- Hard Money Equity Loans to 80%
- 100% VA Home Mortgage Rates
- Streamline Refinance Rates
- Home Equity Line of Credit with Fixed Rate Conversion
- Discounted Credit Line Rates
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Please complete this simple form to receive a personalized rate request from Nationwide Mortgage Loans. Once you have completed this request for a rate quote, your information will be sent to Nationwide Mortgage Loans. A professional loan officer from Nationwide Mortgage Loans will contact you by telephone or email.
Second Mortgage Rates - Understanding Subordinate Home Financing |
Plain and simple...A second mortgage is a home equity loan. Home equity loans are called second mortgages because they second liens on your house. Similar to your first mortgage, the second mortgage is a secured loan with the pledged collateral being your house.
There are two types of second mortgages: fixed-rate second mortgages, also called home equity installment loans and home equity lines of credit (HELOCs). With an equity loan, you get a single lump sum of money on which you make monthly installment payments within 30-45 days after the loan closes. The home equity line is a variable-rate revolving line of credit, with the limit being the amount of the loan for which you were approved.
3 Reasons Why Nationwide is a 2nd Mortgage Specialist
- Since 1st mortgage rates are rising, locking into a home equity loan will allow you to leave your existing low rate mortgage unchanged.
- Consolidating adjustable rate credit cards and high interest loans will reduce your payments monthly and the extra saving will enable you to pay your debt off quicker.
- Our primary focus is 2nd mortgage s and home equity loans. This has been our lending niche for 10 years in a row!
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 Whether you choose a home equity loan or a line of credit, the whole purpose of a second mortgage is to take money out against your home without refinancing your 1st mortgage. You can use the money for making home improvements, consolidating debts, financing a second home or investment home, as an emergency source of cash and other purposes.
A Home equity installment loan is best suited for one-time, lump-sum expenses like refinancing high-interest credit cards or replacing your roof or siding. While home equity credit lines are generally better if you have a recurring need for money like having to pay home remodeling contractors in two or more installments.
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ARM vs. Fixed Rate Calculator
How does a fixed rate 1st or 2nd mortgage compare to an adjustable rate mortgage or home equity line of credit?
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1-800-242-6986
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| Client Testimonials |
"The home equity process online can be daunting, but we were blessed to find Nationwide because right away they put our fears to rest. We were excited to find a mortgage company that put our needs before their commission. We reduced our payments and received some extra cash back that paid our children's college expenses without raising our payments! Thanks for all help Nationwide!"
- The Tyler Family
Interest rates could be on the rise. Find out today's home equity rates for installment loans and lock into a fixed rate loan that helps preserve your capital.
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