Second mortgage loan for homeowners with or without home equity

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Second Mortgage Loans

Reduce Debts, Lower Your Monthly Payments, & Get Cash

Selected homeowner may be eligible for a second mortgage.  A second mortgage program allows homeowners with or without home equity to quickly borrow up to 125% of their home value to consolidate debts, finance home improvements, or get cash out for unexpected medical bills, college tuition, or any purpose. Loanbiz.com can help homeowners find the right second mortgage or home equity credit line (HELOC) at competitive rates for most types of credit.  Self-employed borrowers may be able to qualify for a 100% stated income program.

Second mortgage loans have been a means by which hundreds of thousands of homeowners have been able to use their home values to save money.   By taking out a second mortgage or a debt consolidation loan a borrower is able to combine the balances of current bills and debts into one loan and one single monthly payment. Homeowners with good to excellent credit may be able to borrow up to 125% of the value of their current property. 

Bills Balance Payments Debt Consolidation Loan
Credit Card #1 $5850 $135.00 -0-
Credit Card #2 $5,300 $157.50 -0-
Credit Card #3 $5,060 $249.00 -0-
Credit Card #4 $5,200 $262.50 -0-
Credit Card #5 $2,600 $87.00 -0-
Credit Union $1,790 $83.00 -0-
Car Payment $10,090 $262.50 -0-
TOTAL $35,890 $1,236.50 $481.20

Based on a $43,000 loan over 25 years at 13% APR 15.934

On this example, there's a savings of $755.30 per month.

The money from a second mortgage loan may be used for any purpose including, but not limited to, paying off high interest credit cards, home improvements, tuition, vacations, and luxury items. Generally speaking, borrowers can reduce their monthly payments and increase their cash flow with a second mortgage.  Further, the interest paid on a debt consolidation loan may be tax deductible.*

* Consult a tax advisor for details.

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