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There are so many reasons why you might want a second mortgage. You might be moving to a larger home and may already have a first mortgage with most of the money you need at a great rate. So it makes sense to get secondary financing to save that rate.
Second Mortgages can be obtained from all major banks and private lenders. The rates are a bit higher than a first mortgage but after time and once the equity in the property increases, we may be able to roll the second mortgage into a new lower rate first mortgage. |
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