With the refinance boom officially over, second mortgage loans are cooler than ever. Many homeowners have been blessed with low interest rate first mortgage loans that they want to keep. The need for cash did not disappear with the refinance boom, so 2nd mortgages and home equity loans will be the loans of choice for the next few years. Anyone who has a 30-year fixed rate loan at under 6% should keep their existing loan in tact and take out a second loan on their home if they need cash. The Federal Reserve has hinted that there are more rate hikes coming, so if you are a mortgage broker or lender, it is time to brush up on your second mortgage product line, because people still need to access cash, and there is no better way to accomplish this.

Home Equity Loans to 125%

You dont need any equity, and this loan program will actually allow you to exceed the value in your home up to 125%! These 2nd mortgages are typically offered with a fixed interest rate for 15, 20 or 25 year repayment terms. If you have credit card debt, or high rate loans, this is an excellent loan for eliminating compounding interest and saving money! IHE executive, Sandy Sarconi stated, There is no better way for a hard-working family with no equity in their home to lower bill payments and get out of debt.

* Fixed Interest Rate 2nd Mortgage
* No Mortgage Insurance Ever
* No Equity Second Mortgage

Stated Income Second Mortgages

More and more people are seeking reduced documentation loans. More and more people have become self-employed, and many people simply like the streamlined process.

* Stated Income Equity Loans
* No Income No Asset 2nd Mortgages
* No Income Verified Home Equity
* No Doc Equity Refinance

Second Mortgage Credit Lines

Sure the interest rates are variable. Yes the Fed has increased the prime rate index eight times in the last few years, but people love low payments that interest only loans provide. People also love the flexibility of only having to pay interest on the money you access. Where else can you get money waiting for you without having to make payments until you use spend cash!

* Interest Only Payments
* Home Lines of Credit

In 2006, the often bashful, second mortgage has emerged from the shadow of first mortgage, and evolved into the cool loan of choice.