What is second home downpayment - Second Home Loan: Headache or Helpful?



Home \| Ask Your Question \| Mortgage Glossary \|Free Credit Report \| Mortgage Calculator

Mortgage Professor about second home downpayment:

Second Mortgage Versus Home Equity Loan
June 9, 2003, revised August 30, 2003 "What are the differences between a second mortgage and a home equity loan?" The terminology is confusing. A second mortgage is any loan that involves a second lien on the property. Some second mortgages are for a fixed dollar ... more...

HUD's Proposals For Reform
October 19, 2002 On July 29, 2002, HUD released a set of proposals to substantially change the ways in which home loans are originated in the US. As usual, the proposals were open for comment, and many thousands of them were received. Mine was among them, and is shown ... more...

second home downpayment related definitions

Owner Occupied Property
Owner Occupied Property A borrower uses the property as a primary residence. An Owner Occupied loan is secured by property, typically with the borrower renting and occupying the space. If more than one unit, the lease payments may directly support principal and interest ... more...

Second Home, Vacation Home
Second Home Second home is a seasonally occupied property that is not the primary residence of the owner. Such residences are usually found in areas with substantial opportunities for recreation or tourist activity. Second Home As Investment However, when market is ... more...

More about second home downpayment

Get Free second home downpayment Quotes and Estimates
Get instant on-line mortgage rate quote and closing cost estimate. Only put your loan numbers. No contact info required. Compare offers from top mortgage lenders... more...

Second Home Loan: Headache or Helpful?
We all know that we can take a second mortgage for up to the amount of equity weve built in our home loan with our payments, but when is it a good idea to do that? Is it a good thing or a bad thing? Should we use that money or leave it alone? The answer is the same as the answer to most complicated ... more...

The Difficulties, Challenges and Problems Of Teleworking, Telecommuting and Working at Home
Working at home, from home, in your pajamas, in the nude, at the beach, working from bed or the easy chair - these are all the images and joys of home working that Kate and I enjoy and many others too. Kate and I sell Real Estate; that is perhaps the most popular telecommuting, work at home; pick ... more...

Reaping Financial Rewards Bad Credit Home Equity Loans
Home is the place you inhabit. It is the place where you live, breathe, grow, thrive. It does more than just providing a living space. The moment you build up this house, or moved to your present apartment, you did not realize that you have struck it rich. Rich that is not the exact word to define ... more...

How Stay at Home Moms and Dads Can Generate a Second Income
"I believe wholeheartedly in the importance of being a Mom who chooses not to work outside the home in order to be available for my children. However, I also have experienced the effects of a single income and it's not pleasant," explains one stay at home mom. Stay at home parents are finding it ... more...

2nd Mortgage Loan Rates - Bad Credit and Higher Interest Rates
As mortgage rates continue to remain low, many homebuyers are opting to refinance their homes or obtain a home equity loan. Home equity loans or second mortgages are great for individuals who need quick cash for large purchases. Similar to a cash-out refinance, home equity loans provide you with a ... more...

Sell Old Home or Buy New Home First?
Buyers who are moving up or downsizing often have a dilemma. They cant decide whether to put their home on the market first, or contract to buy their new home first.If they put their home on the market, it might sell and then they might find it impossible to find what they want. Alternatively, if ... more...

What Is A Second Mortgage?
A second mortgage is a loan that is secured by the equity in your home. When you obtain a second mortgage loan the lender will place a lien on your house. This lien will be recorded in 2nd position after your primary or 1st mortgage lender's lien, hence the term second mortgage.A second mortgage is ... more...

Home Equity Loan Comparison - Access Your Home's Equity Through a Second Mortgage or Equity Loan
You can access your home equity without the cost of refinancing with two financing options. A second mortgage will give you a lump sum check with a fixed or adjustable rate. A home equity line lets you tap into your equity when you want to. Both options allow you to write off interest on your taxes ... more...

Mountain Home Idaho Real Estate
Mountain Home Idaho Real Estate Mountain Home, Idaho, is located in Elmore County, 54 miles SE of Nampa, Idaho and 381 miles SE of Portland, Oregon. Mountain Home has a population of 11,143. Mountain Home Homes Mountain Home properties pool is 4,381 residential properties including ... more...

Why Choose a Home Equity Loan?
There are many reasons for choosing a home equity loan. A home equity loan allows homeowners to obtain a loan in addition to their original loan using the equity in their home. Home equity loans are generally a second mortgage, and are used for personal use.Home equity loans are also known as ... more...