A recently invented financial alternative for homeowners who need a second mortgage are the 125 secured loans. These loans offer a new option for obtaining a second mortgage for houses. This kind of loan allows the homeowner to be given a loan amount that is 1.25 times the home’s appraised value. Compare this to the home equity loan that only offers an amount that is 0.75 to 0.80 times that of the appraised price. Of course, any unpaid amount in the original loan will have to be deducted from the computed total value.
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Tags: 125 loan, hard money, private loan, secured loan