What is a second mortgage, and how does it work?

What’s the difference between a business loan and a business line of credit?
February 27, 2024
How do I qualify for a second mortgage?
February 27, 2024
What’s the difference between a business loan and a business line of credit?
February 27, 2024
How do I qualify for a second mortgage?
February 27, 2024

Second mortgages are a type of security registration that is placed behind another registered mortgage (1st mortgage) usually by another lender. For instance, a lender such as CBA , ANZ or any lender may register a mortgage to secure a loan they provide. Then, if a subsequent loan is required by you a lender may register a mortgage behind the existing 1st mortgage to secure the additional funds they offer.