Why Get A Second Mortgage Loan?

If you own a home and are in need of some extra cash, a second mortgage—sometimes called a home equity loan--can help you to pay for the things you want. Perhaps you need to pay for home improvements, buy an investment property, or you want to consolidate your debt. A second mortgage loan from Countrywide Bank's Full Spectrum Lending Division can be a simple, flexible, affordable way for qualified borrowers to secure a needed loan now, even if they might have had some credit problems in the past.

What are second mortgages?

A second mortgage allows you to take out a loan using your home as collateral. Because it's a home loan, a second mortgage frequently offers much lower interest rates than other types of credit. The amount you can borrow depends on the amount of equity you have in your home.

What's equity? The difference between your home's fair market value and what you owe on your current mortgage obligations is your home equity. Because home values tend to increase, equity can grow more rapidly than you think.

Find out about tapping into your home's equity to get the cash you need with a second mortgage. Call today to find out how Countrywide's Full Spectrum Lending Division can help you make the most of your home equity, or explore the options below:

Learn more:

Benefits – Learn about the benefits of a second mortgage loan and how tapping your home's equity can help you create solutions that work for your life.
Loan Options – Explore the types of second mortgage loan options offered by Countrywide's Full Spectrum Lending Division, including home equity loans or home equity lines of credit.
Compare – Is a cash-out refinance or a second mortgage such as a home equity loan or a home equity line of credit a better choice for you? Learn the pros and cons of each in this helpful comparison.
FAQ – Have questions? Find the answers to your questions about equity and second mortgages.
Rates – Learn about second mortgage loan rates and get a personalized rate quote specific for your needs, type of loan and credit profile.
Calculators – Find tools and resources you need to help you determine if making the most of second mortgage options and the equity in your home makes sense for you.

Contact us today at 1-800-909-8217 to learn more about our second mortgage loan options and to discover how Countrywide's Full Spectrum Lending Division can help you fulfill your financial goals by helping you get the home loan you need. Even if you're challenged by debt or a less-than-perfect credit history, we're eager to talk to you. A second mortgage loan can help you meet your needs and realize your dreams.