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2. What is a second mortgage, and how does it work? - AOL

   www.aol.com/finance/second-mortgage-does...

   If you have a home worth $300,000 and $200,000 remaining on your first mortgage, for instance, you might be able to borrow as much as $55,000 through a second mortgage: ($300,000 x 0.85) – $200,000.

3. Second mortgage - Wikipedia

   en.wikipedia.org/wiki/Second_mortgage

   Second mortgage interest rate payments are also tax deductible given certain conditions are met. [35] This advantage of second mortgages reduces the borrower's taxable income by the value of the interest expense. [36] In general, total monthly repayments on the second mortgage are lower than that of the first mortgage.

4. Subordination agreement - Wikipedia

   en.wikipedia.org/wiki/Subordination_agreement

   It is generally used to grant first lien status to a lienholder who would otherwise be secondary to another party, with the approval of the party that would otherwise have first lien. Typically a subordination arises when there are two existing mortgages, a first mortgage and a second mortgage, and the mortgagor intends to refinance the first ...

5. Fact vs. fiction: Top 8 common home equity myths — debunked

   www.aol.com/finance/home-equity-myths-debunked...

   Lender requirements vary, but most requires you to meet standard requirements that include: A loan-to-value ratio (LTV) below 85%. A debt-to-income ratio (DTI) below 43%. A credit score of 680 or ...

6. How to refinance when you have a second mortgage - AOL

   www.aol.com/finance/refinance-second-mortgage...

   The second mortgage lender, if they want to go along, typically charges a few hundred dollars to review the package, and approval can take up to six weeks. Options when resubordination is denied

7. Mortgage underwriting in the United States - Wikipedia

   en.wikipedia.org/wiki/Mortgage_underwriting_in...

   For example, if the home is valued at $200,000 and the first mortgage is $100,000 with second mortgage of $50,000, the LTV is 50% while the CLTV is 75%. Naturally, the higher LTV and CLTVs increase the risk of loan. Furthermore, borrowers who contribute significant down payment (lowering the LTV) statistically have lower incidents of foreclosure.