2nd Trust Deed Loans
A second trust deed is a loan that goes behind another loan in 2nd position. They are wise to use this loan if the current interest rate on the property is good and the borrower wants to take equity out of the home. If the borrower wants to avoid PMI (private mortgage insurance), this loan is very effective. They are great for debt consolidation.
Benefits:
- Consolidate loans to a lower payment.
- Keep your existing mortgage.
- Possible tax deduction.
- Cash out for any purpose (school, car, remodel etc.).
- Fixed loans or equity lines.
- Borrow up to 100% of home value or more.
- E-Z Qualifier in some cases.
Conditions:
- The better the credit, the better the interest rate.
- The more equity that remains after the 2nd Trust Deed, the better the interest rate.
- Loans range
from 30 due in 15 to as little as 5 years. Basically, it's your
choice.
- Loans over
100% LTV can have cash use restrictions as well as higher interest
rates and fees.
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For more information, please e-mail or call 800-784-5363