What You Need to Know About Getting a Second Mortgage

If you're wondering about getting a second mortgage, the good news is banks are still lending on second mortgages.

But those loans are generally not the type of mortgage you would take out to buy a home. Almost all of that type of financing has dried up. There are a few first-time home buyer programs that involve a second mortgage or "silent second," but those second mortgages are available with a bunch of restrictions and conditions, and not every buyer qualifies for them . . . read more about getting a Second Mortgage.

More Articles by Elizabeth Weintraub:

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• How HVCC Affects Your Home's Appraisal
  
• 3 Things to Know About Mortgage Refinancing

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_{At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.}