2nd Mortgage Term
Some second mortgage loans may extend for as long as 15 or 20 years; others may require
repayment in one year. You will need to discuss the repayment terms with the individual
mortgage company and select one that offers terms that
best suit your needs. For example, if you need to borrow $20,000 to make repairs on your
home, you may not want a loan that requires you to repay the entire amount in one or two
years because the monthly payments may be too high. |
2nd Mortgages
Home Equity Credit Lines
Length of Second Mortgage
Payment Calculations
Loan Costs
Interest Rates |
