There are plenty of reasons why you might need access to a large amount of money. Maybe you’re thinking about going back to school, or you need to consolidate a few high credit card balances. Or perhaps you want to do some repairs on your home?
Why not consider tapping into your home’s equity, which is usually much larger than any cash reserves you have on hand? You may be able to use a second mortgage to take care of your expenses.
Green Source Capital, LLC is your expert for Second Mortgage. There’s No appraisal, No Credit Check, No Upfront Fees and closing in 5 days.
What is a Second Mortgage?
A second mortgage is exactly what it sounds like: a second mortgage is taken out on a property while an original one is still in effect. More specifically, however, the second mortgage is secured with the same asset as the first. As a result, most lenders view second mortgages as riskier endeavors and increase the stakes they see fit. In addition to stricter underwriting, second mortgages typically carry a higher rate of interest. Some investors will find the added costs well worth the price of admission. Those homeowners lucky enough to have equity in their first home can borrow against it with a second mortgage. The more equity, the more the homeowner will be able to borrow. Still, the second mortgage comes with a significant caveat: the first home will serve as collateral for the second mortgage, which means there’s a lot at stake for anyone looking to take out a second mortgage.
What are qualifications for a Second Mortgage?
- $500K – $5 Million
- Up to 75%
- 1-3 Years
- Interest Rate
- 12% I/O
- 2 weeks
- Property Types
- Multifamily, office, retail, self-storage, industrial, & warehouse
No Credit Check
No Upfront Fees
Closing in 5 days
Contact us HERE for more information