Our Clients

A second mortgage is a second loan that take on your home. You can take 80% of the appraised value of your home minus the balance of your first mortgage.

Commonest reason to take out a Second Mortgage is to consolidate debt or find capital to close deals for funding other projects and expenditures.

A First Mortgage is the primary loan that you take out to purchase a home. A second mortgage is a loan that you take in addition to your first mortgage.

A Heloc is a line of credit , So you can decide how much to borrow over time, while a second mortgage is a one time loan. The Repayment Period for a HELOC can last up to 20 years however second Mortgage is for one year or less.

Client will receive the entire loan amount in beginning but can return the funds in lesser duration than the loan term without any prepayment penalties. However, the interest rate on an open mortgage is often higher than the interest rate on a closed mortgage.

Client will receive the entire loan amount in one lump sum and cannot return the funds till agreed upon duration of loan term.

Yes, however if payment terms are fulfilled it will also increase the score over time.