Second mortgage

Second mortgage

A loan secured by the equity in a home, when a primary mortgage already exists.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
Acronym-Abbreviation:

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Related terms

second mortgage

Banking; Investment banking

Mortgage that follows a first mortgage in order of rank. Granted in Switzerland usually with a loan-to-value ratio of around 65%-80% of the underlying property's market value and ...

second mortgage

Business services; Relocation

A mortgage that has lien position subordinate to the first mortgage.

second mortgage

Real estate; General

A mortgage made subsequent to another mortgage and subordinate to the first one.

second mortgage

Real estate; General

A loan secured by the equity in a home, when a primary mortgage already exists.

second mortgage

Banking; Mortgage

A loan with a second-priority claim against a property in the event that the borrower defaults. The lender who holds the second mortgage gets paid only after the lender holding ...

second mortgage or second lien

Banking; Refinance

The traditional term for a home equity loan or line of credit because it is generally a subordinate lien and not a first mortgage, which usually is made to purchase the home.

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