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Second Mortgage Costs
| Nationwide Mortgage Loans offers reduced cost 2nd mortgages with fixed and adjustable rate home equity loans and lines of credit for refinancing or debt consolidation. Often times second mortgage costs are more than 1st mortgage costs because the risk factor is greater for loans in second position.
In the past lenders have reported that second mortgages have had higher default ratios than home mortgage is in first position, so it is common for lenders like to charge more fees up front. Nationwide offers no point loans and no "out of pocket" fee second mortgages. Most borrowers prefer to roll the fees into the loan. |
Save Money with Reduced Fee Second Mortgage Loans from Nationwide |
Standard Second Mortgage Costs (common on "good Faith Estimate")
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• Appraisal
• Title Insurance
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• Processing
• Underwriting |
• Recording
• Origination
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• Credit
• Notary |
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Key Disclosures to Analyze & Understand the Costs of a Second Mortgage :
 Good Faith Estimate - Federal Truth in Lending Statement (Reg. Z)
- Estimated HUD-1
- Final HUD-1
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