What is an Additional Mortgage, and Could It Be Right for You?

As your home’s equity grows, you have the chance to tap into that value by taking out a second—or even third—mortgage on your property.

These additional mortgages can help you consolidate debts, fund home renovations, cover education expenses, or meet other financial goals. The interest rates on additional mortgages are lower than those on credit cards, which can add up to significant savings over time. Plus, you often get more time to pay it back, so your monthly payments can be easier to manage.

If you’re thinking about taking out an additional mortgage, I’d be happy to chat and help you figure out the best option for your situation.

Contact us Today!