How Long Does The Process Take for a Second Mortgage?


Get professional help with a
2nd mortgage loan


It is still a great time to
rebuild credit with a 2nd mortgage

The answer to this question can vary. Generally, second mortgages take anywhere from 2-3 weeks to fund. If there is a problem on title, or a correction that needs to be made on the appraisal, then the second mortgage process will take longer.

Fortunately, most mortgage brokers or lenders will take only a few days to approve a loan through underwriting, once they have received a complete submission.

Most lenders would like W2 from the last 2 years, a month worth of pay-stubs, a copy of the mortgage note, and a mortgage statement or coupon from both your first a second mortgage loans.

Most banks will require an appraisal review, unless only a statistical appraisal is required. Once title, appraisal, and income verification has been completed, underwriting will clear the loan for the closing stage, after the documents are drawn up by escrow. After you sign loan documents, there is a 3 day right of r escission, and after that time elapses the lender will disperse the loan funds, and the money is now in your hands.

  • No Application Charge!
  • No Cost for 2nd Mortgage Quotes!
  • No Obligation whatsoever!

Click Here for a Free Second Mortgage Quote

Answers from the Experts at Second Mortgage Quotes.com

Can I get a Second Mortgage without Refinancing my 1st Mortgage?

Is there Mortgage Insurance Required for Second Mortgages?
What is the Difference between a Second Mortgage and a Home Equity Line?
How Long Does The Process Take for a Second Mortgage?
What is the Difference between a New Second Mortgage and my Existing Mortgage?

This is not an advertisement for credit as defined by paragraph 226.24 of regulation Z.
Copyright 2002 - 2006, Second Mortgage Quotes. All Rights Reserved.
Second Mortgage Quotes 1875 Century Park E, Ste G, Los Angeles, California 90067 Contact: loanmgr@second-mortgage-quotes.com