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Second Mortgages
By RealEstateColorado.Net, Inc.

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Second Mortgages and Home Equity Lines of Credit

Home Equity Credit Line of Credit (HELOC)
If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans.

Length of Your Second Mortgage
Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year.

Second Mortgage Payment Calculations
Be sure you understand how much your monthly payments will be and what they cover.

Second Mortgage Costs
Clarion Mortgage Capital will charge a fee for lending you money. The fee is usually a percentage of the loan and is sometimes referred to as "points."

Second Mortgage Rates
If you have a fixed rate loan, the interest rate is set for the life of the loan. However, many companies offer variable rate mortgages, also known as adjustable rate mortgages or ARMs.

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As seasoned Mortgage Bankers and Realtors, our goal is to help you with financing your home which begins with a personal commitment to you. With over 10 years of experience and closing over 110 million dollars of residential real estate we've helped people like you realize the dream of home ownership by tailoring a loan program that comfortably fits within your budget and not only finding a good home, the best home.

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