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California Second Mortgages
California Second Mortgages A California second mortgage is a mortgage loan secured the property in which the first mortgage was placed. The amount one can borrow is based upon the amount of equity in the home. Equity is determined by subtracting the amount owed from the California home's value.
California Second Mortgages - Explained
California Second mortgage loans differ from California first mortgages in several ways: a California second mortgage often has a higher interest rate, a shorter term, and may require a balloon payment at term expiration. California Second mortgages are also considered California Home Equity Loans or California Home Equity Lines of Credit as they utilize the equity in the home as collateral for a California second mortgage loan.
California Second Mortgages - Traditional Uses
California Second mortgage loans are used by many people to pay off credit card debt or other high interest debt. Essentially you can use the cash for any reason you wish, make home improvements, consolidate debt, buy a car, or invest. California second mortgages are a great way to clean up your debt.


California is nicknamed the Golden State and is The third largest state, 163,707 square miles

Equal Housing Lender. Some products may not be available in all states. Restrictions apply. All rights reserved. Pre-qualification is neither pre-approval nor a commitment to lend; you must submit additional information for review and approval. Approval may be subject to rate increases, satisfactory title and appraisal review, and no change in financial condition. *Refinancing or taking out a home equity loan or line of credit may increase the total number of monthly payments and the total amount paid when comparing to your current situation.