Sentences with phrase «conditions of your second mortgage»
Make sure to review the terms and conditions of your second mortgage loan very carefully.
https://www.pennymacusa.com/ Not exact matches
However, because the second mortgage was relatively small, I was able to pay it off as a condition of the refinance.
Second mortgage loans are the right option if you are considering home equity loans especially due to the instability of current market conditions that can skyrocket interest rates at any time.
* Under certain conditions explained below, FHA will insure first mortgages where (1) the existing note holder writes off the amount of indebtedness that can not be refinanced into the FHA insured mortgage; or (2) either the FHA approved lender making the new mortgage or the existing note holder may take back a second lien that includes closing costs, arrearages or previous secondary financing if the indebtedness exceeds FHA prescribed LTV and maximum mortgage amount limits.
If you are considering a second mortgage for the purposes of buying a second home or condo in Ajax, Ontario it is absolutely in your best interests to make sure that you are privy to the true physical conditions of the property you are considering purchasing.
A home equity loan is very similar to a second mortgage with some of the same terms and conditions.
The second unacceptable condition was that the liquidity was not going to be short - term at all: the loan would take the form of a 30 - year mortgage, with a prepayment penalty so enormous (it was $ 81 million in 2012) that the loan could never be restructured or otherwise paid off early.
Housing affordability conditions are forecast to remain favorable through next year, with the 30 - year fixed - rate mortgage staying near record lows for the balance of this year but gradually rising to 4 percent in the second half of 2013.