At HouseMoney Financial, we are specialists in second mortgages, also commonly called home equity lines of credit. Second Mortgage is simply a name for a type of loan that uses the equity in your home as leverage. While the rates on second mortgages are higher than they are on first mortgages, the terms are usually much shorter.

This makes second mortgages a good solution for short-term needs such as paying for emergency expenses such as repairs or medical bills, or for paying off higher interest debts. You might also use the money to pay for renovations that are likely to increase the value or your home or to purchase an investment property. All you need to qualify for this type of loan is equity in your home, which is why it is a good solution even if you have poor credit.

If you are applying for a second mortgage, you can borrow as much as 85% of the equity in your home which is then paid to you in a lump sum.

Get your back on your feet financially today with a second mortgage. The team at HouseMoney Financial will be pleased to go through the details of this product with you and help you determine if it is the right solution for you. We will also look at alternatives such as refinancing and reverse mortgages if you qualify for those products.