Home
About George
Loan Programs
Commercial Loans
Pre-Qualify
Credit
Down Payment
Refinance
Second Mortgages
Recently Financed Properties
Preferred Realtors
Mortgage Terminology
Contact George
Copyright 2007 George T.
Schramm
All Rights Reserved
webdesign: designsbymoeck
|
Length of Second Mortgage |
|
| Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year. You will need to discuss the repayment terms with the individual mortgage company and select one that offers terms that best suit your needs. For example, if you need to borrow $20,000 to make repairs on your home, you may not want a loan that requires you to repay the entire amount in one or two years because the monthly payments may be too high. |