A one-time lump sum payment with a fixed interest rate.
When people talk about a "second mortgage" for a new purchase, they are usually referring to one of two things: second mortgage to buy another house
Getting a to buy another property is a smart way to leverage the equity you’ve built in your current home without having to sell it. Whether you’re looking for an investment property or a vacation home , here’s a quick breakdown of how it works. How it Works A one-time lump sum payment with a fixed interest rate