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Crestico Funding
  1. Home
  2. Home Loans
  3. Loan Options
  4. Access to Home Equity
  5. 2nd Mortgage

Second Mortgage Loans to Access Home Equity

A second mortgage gives homeowners the opportunity to borrow against the equity they have built in their property while keeping their existing primary mortgage in place. This financing option provides access to additional funds that can be used for important financial goals without selling your home.

At Crestico, we help homeowners explore second mortgage solutions that align with their financial needs. Whether you want to renovate your home, consolidate higher interest debt, pay for education expenses, or cover major life costs, our mortgage specialists can help you understand your available options.

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Homeowner meeting with a mortgage advisor to discuss second mortgage home equity financing in a modern home

What Is a Second Mortgage?

A second mortgage is an additional loan secured by the same property that already has a primary mortgage. Because your home serves as collateral, lenders may offer competitive interest rates compared to many unsecured borrowing options.

Unlike replacing your existing mortgage, a second mortgage allows you to keep your original home loan while obtaining additional financing based on your available home equity.

If the property is sold or enters foreclosure, the first mortgage is paid before the second mortgage. For this reason, lenders carefully evaluate your available equity, income, credit profile, and overall financial situation before approving the loan.

Most second mortgage loans provide fixed interest rates with predictable monthly payments, making budgeting easier throughout the loan term. The amount you may qualify for depends on your home’s current market value, your remaining mortgage balance, and lender guidelines.

How Does a Second Mortgage Work?

A second mortgage allows eligible homeowners to convert a portion of their available home equity into usable funds. Once approved, the loan is issued separately from your first mortgage and has its own repayment schedule.

Unlike a Home Equity Line of Credit that provides revolving access to funds, a second mortgage typically delivers a lump sum with fixed monthly payments over an established loan term.

Loan Amount

Most lenders allow qualified borrowers to access a percentage of their available home equity. The maximum loan amount is generally based on your home’s appraised value, your remaining first mortgage balance, your credit profile, and your debt to income ratio.

Secured by Your Home

Since the loan is secured by your property, maintaining timely payments is important. Failure to repay the loan could result in foreclosure because the home serves as collateral for both your first and second mortgages.

Make a Competitive Offer

Once you find the right property, your real estate agent will prepare and present your purchase offer. Carefully review the purchase agreement and understand each term before moving forward.

Step 1

Check Eligibility

Step 2

Payment Option

Step 3

Get Approved

Step 4

Close the Loan

Step 5

Repayment & Loan Terms

Frequently Asked Questions

What can I use a second mortgage for?

Qualification depends on several factors, including available home equity, income, employment history, credit score, existing debt, and the lender’s underwriting requirements. A mortgage professional can review your financial profile to determine your available options.

What interest rate can I expect?

Interest rates vary based on market conditions, your credit profile, loan amount, available equity, and loan terms. Because a second mortgage is secured by your home, rates are often lower than many unsecured financing options.

Can I pay off my second mortgage early?

Many second mortgage loans allow early repayment without penalties, although terms vary by lender. Paying off the loan sooner may reduce the total interest paid over the life of the loan.

Can I refinance a second mortgage?

Yes. A second mortgage can often be refinanced independently or combined with your primary mortgage, depending on your financial goals, available equity, and current lending guidelines.

Get the Best Home Loan Rates  With Crestico

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Henry D.
Marisol was extremely helpful and successful in resolving the problems associated with my loan. We are very happy with our new loan.
Maria C.
They were always available to answer my questions and made the entire process simple and straightforward. I got a great rate and the support I needed to close on time. I wouldn't hesitate to use them again or recommend them to family and friends!
Nik N.
I couldn't have had a more amazing experience with our realtor - Diane Phillips. Diane is extremely knowledgeable and personable. She got to know me and my...
Tatiana G.
Houtan and Marisol are a great team. They helped my dad with his refinance and made the process seamless. They answered every question we had and came up with solutions if we ran into any issues. Thanks again!
Wesley P.
I had an amazing experience.I received all the information, support and they were very Knowledgeable of the information that I needed.
George H.
Excellent Mortgage Broker – Highly Recommended! I had an amazing experience working with Houtan and his team at Crestico. From start to finish, not only Houtan himself but his entire team made the mortgage process smooth, stress-free, and efficient. Their knowledge and expertise were evident at every step, ensuring I got the best possible loan terms. Communication was outstanding; Houtan was always available to answer my questions, explain complex details in a way that made sense, and guide me through the entire process with confidence. They were proactive, transparent, and truly had my best interests in mind. If you’re looking for a mortgage broker who is professional, reliable, and dedicated to helping you secure the best financing, I highly recommend Houtan and his team. I couldn’t have asked for a better experience!
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive, personable, and knowledgeable. He is incredibly reliable and would answer calls or emails within minutes when I had questions. I can't recommend Houtan enough for buying a house. We had been working directly with a large bank on a loan, and all seemed fine until we had an accepted offer, then we started having issue after issue where there was just no sense of urgency. We almost had to walk away from our house, but Houtan and his team were referred to us in mid escrow, helped us explore multiple options in parallel, and close on time. Houtan was very responsive and on top of everything, presented our options very clearly, patient with all our questions, and really understands the Los Angeles housing market.
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive,...
Nat Z.
Houtan is a top notch professional. He helped me with my pre-approval and walked me through every step of the loan process. He was extremely responsive,...
Niloofar S.
As a first time home buyer, taking out a jumbo loan could’ve been quite scary. But Houtan and his team made it a pleasant experience. An amazing team who are always one step ahead of the process.
Mohammad S.
Easy to work with ! Professional people and honest!
Jack M.
Worked with Houtan. He got our loan closed super fast and got us a rate that was lower than what our bank offered us. I'm very happy with Crestico and i recommend them to anyone.
Rebecca S.
Finally a real professional with a heart! Working with Houton makes me feel like having a friend who is on my side, rather than a businessman who is always looking out for #1. He is extremely helpful, knowledgeable, and responsive. He was always happy to explain and strategize with me whenever I needed help. Unlike most realtors and lenders out there who don't want to use their brains and only do easy and mindless paperwork, Houtan has great analytical and investment insights to share with his clients. I wholeheartedly recommend him to anyone who values the rare combo of both thoughtfulness and top-notch expertise.
Ramtin S.
Thank you Houtan and the entire team for going above and beyond every single time. From the onset, you guys gather whatever is necessary to get the job done as quickly and efficiently as possible, always keeping constant communication. My rate and fees are disclosed and never change at the time of signing.
Shayan M.
These guys were a godsend when searching for a home loan. I was first time home buyer and they helped out with the entire process. Everything from the customer service to making sure I was informed for every step of the process was handled exceptionally. I am absolutely ebullient with Houtan and his entire team have given me, and helping me transcend into the status of homeowner.
Pouyan B.
I have been working with Houtan for over 10 years. He and his office have always been great to work with. Excellent communication and great work ethic. I will definitely be back for my other mortgage needs in the near future.
Michael R.
Thank you Houtan and team for helping me secure my home loan! Great communication, customer service and rate! Look no further, call Crestico for all of your home loan needs.
Bronson M.
I want to express my gratitude to Houtan and his team. Houtan is extremely knowledgeable and really takes the time to answer any questions that you have. He wants the best for his clients and I would recommend him to anyone.
Diba P.
I want to take a moment to express my gratitude for Houtan Hormozian and the exceptional service he provided in helping me secure a loan. From our very first conversation, he was attentive, understanding, and incredibly knowledgeable about the lending process. He took the time to explain all the details, answered all my questions patiently, and worked tirelessly to find the best options tailored to my needs. His professionalism and dedication made what could have been a stressful experience into one that was smooth and straightforward. Thanks to Houtan Hormozian, I was able to secure the financing I needed, and I couldn't be happier with the outcome. I highly recommend him to anyone in need of lending services. His commitment to his clients is truly commendable!
Golnaz G.
Houtan and his team are the best. They made the whole process of buying the house so easy for me. Houtan is very professional,knowledgeable , trustworthy and caring. He wants the best for his costumers. I highly recommend him to everyone.
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