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Second Mortgage?
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Second Mortgage
A loan that is secured against the same asset, by which the first mortgage is secured. It requires you to make separate payments each month in addition to your normal mortgage payments.
Refinancing
By having your mortgage refinanced when interest rates are lower, higher interest rate can be exchanged for lower one; this will lower the monthly payments and will be beneficial for the mortgagee.
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Mortgage Resources
Mortgage Calculators
Condo Mortgage Calculator
Condo Mortgage Calculator can be used to figure out monthly payments of a condo mortgage, based on the condo’s sale price, term of loan, down payment percentage, and loan’s interest rate.
Mortgage Amortization
Mortgage amortization calculator can be used to find the mortgage payment amount that best suits your needs. It shows the calculations and amortization of mortgage payments.