Asked by Erin  |  Submitted October 22, 2013

Are banks still lending 2nd mortgages?

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  Answers  |  2

October 23, 2013

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.

$commenter.renderDisplayableName() | 07.23.17 @ 22:55

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November 17, 2015

Yes, you might have some decent luck with the smaller banks and credit unions in your area versus the big banks

$commenter.renderDisplayableName() | 07.23.17 @ 22:55

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