Second Mortgages: Fixed vs. Adjustable-Rate Options


Second mortgages come in two main types: fixed-rate and adjustable-rate. A fixed-rate second mortgage offers consistent monthly payments and interest rates throughout the loan term, providing stability. In contrast, an adjustable-rate second mortgage has interest rates that can fluctuate, potentially lowering payments initially but increasing them over time.

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Second Mortgages: Fixed vs. Adjustable-Rate Options

Fixed vs adjustable-rate second mortgages: Learn how each type can affect your loan payments, interest rates, and long-term costs.