Second Mortgage

A Second Mortgage is simply a mortgage made while the primary mortgage is still in effect. HELOC’s and piggyback loans tend to be put under second mortgages.

Who Would A Second Mortgage Benefit

Those that would want to use the funding from the second mortgage to increase the value of your home would benefit from a second mortgage. Doing this can help maintain the equity in your home

Advantages of a Second Mortgage

·       Allows you to touch unused equity in your home

·       HELOC’s as well as home equity loans can pay for big-ticket items such as renovations or college

·       Interest rates on second mortgages tend to be lower than on private loans or credit cards

Disadvantages of a Second Mortgage

·       If you cannot pay the second mortgage you could risk losing your home

·       It cost more to close on a second mortgage

·       If you do not have enough equity in your home it may be hard to qualify for a second mortgage

The Benefits of Getting a Loan From Tampa Bay Home Mortgage

·      You are able to complete your application completely online with live help.

·      Our home loan experts are available to chat via chat, email, and telephone to assist you

·      Our great customer service continues even after you close

·      You can manage your mortgage online after you close. Also, no hidden fees

Why Choose Tampa Bay Home Mortgage

Tampa Bay Home Mortgage is ready and willing to provide quality service to those in need. We treat each need in accordance to the person and their needs. Choose us today!