Love your 1st Mortgage? Why not get a 2nd?

Are you carrying high interest credit card debt? Do you need to improve or repair your home, or finish your yard? Many home owners are sitting on a lot of home equity and would love a way to access it without refinancing. I can help you with that!

We all love our low-rate 1st mortgages and would hate to give that up with a refinance. Instead, I would love to show you how to tap into your home equity through a 2nd mortgage or home equity line of credit. We have helped many clients this year consolidate high interest credit cards (some of them with rates as high as 29%) into a 30 yr. fixed rate 2nd mortgage. We have multiple lenders offering rates as low as 7% for this product, and often with zero closing costs.

Example #1

We recently helped a client get $85,000 on a 2nd mortgage. He didn’t want to touch his 3% interest 1st mortgage, so we left that alone. He needed about $30,000 to pay off a high interest signature loan, and another $55,000 for a new roof and other upgrades to his home. Not only did he get a newly upgraded home – but his monthly payment went down from $839/mo. to $611/mo. – a win, win!

Example #2

A client borrowed a little over $200,00 on a fixed rate 2nd mortgage to pay off their current interest-only variable rate HELOC along with multiple credit cards that were accumulated over the last few years as they built a major addition on their new home. Once finished with construction, the monthly payments were very difficult to make at over $3,700 per month. Their new payment on a fixed rate 2nd mortgage will be $1,568 per month. this was an easy process for them and they didn’t even need to have an appraisal done to get the new 2nd mortgage processed.

If you need to access your home equity for any reason, please give me a call. I’d love to help you look at your options!