Second Mortgage Loans
Effective Date: June 2, 2008
A Second Mortgage Loan allows the borrower to finance up to 100% of the available equity in their home. This is a loan at a specific term, which provides the borrower with a fixed payment at a fixed rate for a 7-year term, but can be amortized for as long as 30 years. For fixed purchases, a Second Mortgage may best suit your needs.
6.25% APR* - 75% Loan to Value of your home
6.50% APR* - 80% Loan to Value of your home
7.50% APR* - 90% Loan to Value of your home
(with a minimum of $20,000 in equity)
8.50% APR* - 100% Loan to Value of your home
Not sure what your home is worth or how much equity you might have available? This FREE service estimates your homes value instantly!
*APR=Annual Percentage Rate. Rates, APRs, terms, and conditions subject to change without notice. Limited to one to four family units. Property must be located in the state of Washington. Mobile homes excluded. Flood/Hazard certificate and property insurance required. There is no prepayment penalty associated with the home equity line of credit. Fees required-Title Fee (ranges 95$-$150). Values based on current tax assessment. Appraisal may be made if requested by borrower. Appraisal cost will be paid by borrower. Appraisal ranges $255.-$325. |
