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One can acquire a second mortgage from any lender based on the existing equity on the home. Basically, the second mortgage is borrowed on the "paid off" portion of the existing home, which is why it is also referred to as a home equity loan. You should, after having your home appraised, contact multiple lenders to find the best possible deal in terms of both interest and closing costs.
What else can I help you with?
Where can one get a loan for a first and second refinance mortgage?
One can get a loan for a 1st and 2nd refinance mortgage from several places. These places include Bank Rate, Wells Fargo, Lending Tree, and Bank of America.
How can one get approved for a 2nd mortgage loan?
If one were interested in getting approved for a second mortgage loan they would need to have assets, a good credit rating and a consistent income. Some banks may require more.
Where can one apply for a consolidation mortgage loan?
One can apply for a consolidation mortgage loan through the following websites: Quicken Loans, Chase Mortgage, and American Equity Mortgage. All three of these companies will help one with a consolidation mortgage loan.
Where can one find find a fixed loan rate mortgage?
There are many companies that offer one a fixed loan rate mortgage. One can get this type of mortgage from 'Capital One', 'Integrity Home Loan', 'National Mortgage Alliance' and 'First Rate'.
Where can one apply for a Chicago mortgage loan?
One can apply for a mortgage loan in Chicago in a couple of different ways. One can get on contact with a mortgage company, and their own broker, or one can go through a bank.
Where can one get a loan for a first and second refinance mortgage?
One can get a loan for a 1st and 2nd refinance mortgage from several places. These places include Bank Rate, Wells Fargo, Lending Tree, and Bank of America.
How can one get approved for a 2nd mortgage loan?
If one were interested in getting approved for a second mortgage loan they would need to have assets, a good credit rating and a consistent income. Some banks may require more.
Where can one apply for a consolidation mortgage loan?
One can apply for a consolidation mortgage loan through the following websites: Quicken Loans, Chase Mortgage, and American Equity Mortgage. All three of these companies will help one with a consolidation mortgage loan.
Where can one find find a fixed loan rate mortgage?
There are many companies that offer one a fixed loan rate mortgage. One can get this type of mortgage from 'Capital One', 'Integrity Home Loan', 'National Mortgage Alliance' and 'First Rate'.
How can you find a quote for a mortgage loan?
One can find a quote for a mortgage loan by using a simple online mortgage loan calculator. An alternative is to consult a professional for a custom quote.
What is the purpose of a mortgage calculator?
There are many reasons that one might use a mortgage calculator when looking for a mortgage loan. The main purpose of a mortgage calculator is to determine the worth of a mortgage loan.
Where can one apply for a Chicago mortgage loan?
One can apply for a mortgage loan in Chicago in a couple of different ways. One can get on contact with a mortgage company, and their own broker, or one can go through a bank.
Where can one compare rates for a home mortgage loan?
There are many places where one can compare rates for a home mortgage loan. One can compare rates for a home mortgage loan at popular on the web sources such as Bank Rate and Bank of America.
Is it possible to have your mortgage loan modified if one is current on mortgage payments?
Yes, although mortgage companies are more likely to modify a loan in default.
What is subordinate second mortgage?
Deeds of Trust (mortgages) have a position on title based on seniority (1st, 2nd, 3rd). So if a new 1st mortgage wants to go into first position in a refinance transaction but there is already a 2nd mortgage, they must ask the 2nd mortgage to allow them to go ahead of them on title. The 2nd mortgage lender will review the proposed loan, and either approve or deny the request. This is most common when a borrower wants to retain the terms of the 2nd mortgage or they do not have enough equity to borrow a sufficient amount in the new loan to pay off the 2nd mortgage.
Can a primary mortgage be classified as a home equity loan?
Yes. There are 2 ways to refer to a mortgage loan: 1) Lien position on the title (1st mortgage, 2nd mortgage) 2) Product type (loan type: 1st mortgage, home equity loan, home equity credit line) If you only need to borrow $10,000 for example, this will not meet the minimum loan amount for a first mortgage with most lenders. Therefore you may obtain a "home equity loan" which is more often used as a second mortgage, but it will be the primary loan on the home.
Where can one find the rules for home loan mortgage refinance in the UK?
There are many different places where one can find the rules for home loan mortgage refinance in the UK. One can ask the home loan mortgage companies, or go to their official websites.
