What are some uses for a Closed-end fixed rate second mortgage?
Home renovations, fund debt relief, help with college expenses and medical bills.
Why should I choose a closed-end fixed rate second mortgage over a personal signature loan?
- You will be able to take adv of the equity you have built in your home
- Longer loan term means lower payments
- Potential tax advantages,
- Lower interest rates
- Higher loan amounts
Are there any tax benefits to choosing a Closed-end Fixed Rate Second Mortgage?
There may be tax advantages. The mortgage interest paid may be tax deductible. Please speak with a tax professional for details.