Whenever doing split funding these terms are generally tossed around: 2nd liens, 2nd mortgages

Whenever doing split funding these terms are generally tossed around: 2nd liens, 2nd mortgages

Separate Financing means utilizing two mortgages to shop for or refinance a home so your total quantity financed is “split” up into two loans. a second lien is a home loan that exists behind a primary lien mortgage and it is typically utilized in order to avoid home loan insurance coverage (MI) and/or Jumbo funding. (more…)

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