A Second Lien Mortgage can be a powerful solution if you are looking to leverage the equity you have built in your home for a low fixed interest rate, without affecting the rate on your first mortgage. This allows you to borrow a lump sum of cash all at once, making it easy for you to manage your financial goals and get quick cash for anything you need.
Check out these 5 advantages of a Second Lien Mortgage…
No Need To Refinance
With a second lien mortgage, you can tap into your home equity without refinancing, allowing you to keep the interest rate you have on your current mortgage. If rates have increased since you purchased your home, it may be beneficial to get a second mortgage as opposed to refinancing.
Flexible Loan Options
The flexibility of a second mortgage allows you to choose a product that is tailored to your specific needs. At AmeriHome, we offer 15, 20, or 30-year fixed rate loans, with up to 80% cash out on loan amounts up to $500,000.
Consolidate Debt
If you have high-interest debt, such as a personal loan or credit card balance, you could use a second mortgage to get the cash you need to consolidate your debt into one lower-interest payment, helping you save thousands of dollars in interest.
Make Home Improvements
Need extra funds for home renovations? For a remodel big or small, a second mortgage can provide you with enough cash to upgrade your kitchen, replace flooring, or even expand your home by adding an additional room—the possibilities are endless!
Pay For Large Expenses
Life is full of big moments, and sometimes, those big moments come with big expenses. Whether you’re planning your wedding, funding a lavish vacation, or paying for higher education, a second mortgage can provide you with the funds to make your dreams a reality.
Looking to start saving today on your home loan? Let’s upgrade your mortgage and put money back in your wallet with a new Purchase or Refinance Loan.*
6 Money-Saving Tips To Start Today:
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Pay Off Your Loan Sooner Switch to shorter loan terms to save on interest.* |
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Lower Your Monthly Payment Refinance with longer terms, so more money stays in your wallet.* |
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Consolidate Debt Cash-out to reduce high-interest credit card debt. |
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Pay For Larger Expenses Invest in your home with updates that will yield a higher return should you decide to sell in the future. |
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Get Extra Savings After you have financed a home with us once, save up to $750 on all your future refinances and new home purchase loans with your AmeriWallet Benefits.** |
If you are interested in learning more about how a refinance or new home purchase loan can benefit you, just give us a call at 877.715.9908 or get your instant rate quote here.
Imagine The Possibilities With Your Better Home Loan!
*By refinancing, your total finance charge could be higher over the life of the loan.
**As a member of the AmeriHome family, borrowers are part of the AmeriWallet Rewards program. If you completed a home loan with us once, you will qualify for a $750 lender credit for all of your future refinances or home purchases done with AmeriHome, for any property you own. To qualify for this offer, you must have previously financed the purchase of a home or refinanced with AmeriHome. You have financed with AmeriHome when AmeriHome Mortgage Company, LLC appears on the previous Promissory Note for your loan, and you are listed as a borrower on the Note. Credits will be applied only if your loan closes with AmeriHome. This offer can not be combined with any other offers and is not applicable for FHA Streamline, or VA IRRRL Refinance transactions. Other restrictions may apply. Terms and conditions are subject to change. AmeriWallet Rewards program is subject to termination without notice.
