What is a second mortgage, and how does it work?
February 27, 2024What are the disadvantages of debt consolidation loan?
March 1, 2024Second mortgage loans are generally for business purposes. However, are also suited for limited consumer purposes where there is a property sale. The main requirement in each case is sufficient equity with a maximum loan ratio at 70%-80% depending on the lender and security type & location. However, if the loan is a business loan, then the funds must be used for business purpose.