Are banks still lending 2nd mortgages?

Asked by Erin

2 Answers

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Answered by James Talbot, Mortgage Broker in Metairie, LA
Erin,

Yes, thankfully they are. There was a time just after the market meltdown when they weren’t but eventually the market eased up and started allowing them again. In today’s market you can get a second mortgage for up to 95% in some cases for both a purchase and a refinance. Personally, I work with some local banks to offer the second instead of using my broker channels as the local banks can do them much cheaper and usually with less hassle. Good Luck. | 10.23.13 @ 13:57
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$commenter.renderDisplayableName() — {comment} | 12.10.16 @ 16:39
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Answered by dskow
Yes, you might have some decent luck with the smaller banks and credit unions in your area versus the big banks | 11.17.15 @ 21:36
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$commenter.renderDisplayableName() — {comment} | 12.10.16 @ 16:39
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