Many people purchased their home with an adjustable rate purchase money second mortgage. Unfortunately the rates went up significantly over the last few years, and their monthly payments increased as well.
Refinancing your variable rate line of credit and turning to a fixed rate second mortgage is a great idea that will save you money. Refinancing now will protect you against potential rate hikes that could cause your payments to increase even more than they already have.
1st and 2nd Mortgage Refinance - Refinance your first or second loan into one mortgage payment offering a fixed interest rate.
- Bad Credit Second loans. Reduce your liabilities and refinance into lower payments with a fixed interest rate 2nd mortgage. Get updated second mortgage rates for all credit types.
- Home Equity Line of Credit. Take a credit line out and access the cash, when you need it most. You will not have to pay any interest until you use the money, and you only pay interest on the actual amount of funds you access.