Did you know your home can serve as collateral for multiple loans at once? If you take out a loan that’s secured by your home when you already have a primary mortgage, your new loan is called a second ...

Mortgages are key to any real estate transaction, as most homebuyers will need one to help finance the purchase of a home or property. A first mortgage is the primary loan on the property. Later, some ...

A closed-end second mortgage is a type of home loan that allows homeowners to borrow against their home's equity while keeping their primary mortgage unchanged. This type of loan provides a lump-sum ...

Mortgages are loans made specifically to buy real estate, but there are many kinds and reasons to take one out. Read on to ...

A second mortgage can be used to get extra cash if you have equity in your home. While this can be a good tool for some people, it can also be an unnecessary risk for others. The following explains ...

In real estate, first-lien loans (primary mortgages) let you finance a home purchase, while second-lien loans (home equity loans or HELOCs) let you tap your home’s value for cash. The holder of the ...

Amidst a housing market that excludes many potential buyers, a particular group of homeowners benefits from a significant tax break for second homes through the mortgage interest deduction (MID).

At a time when millions of would-be homebuyers are locked out of the market, a select group of homeowners is claiming a huge tax break—for second homes. Known as the mortgage interest deduction, this ...

The best uses for this type of loan aren't short-term, optional purchases. They can help you reduce more costly debt or pay for an investment, but If you're using them for a shopping spree or vacation ...