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Second Mortgages for Investment Properties: What You Need to Know
A second mortgage on an investment property can provide financing for renovations, expansions, or additional purchases but typically carries higher interest rates and stricter approval criteria than primary mortgages. Lenders assess equity (often 20–30% minimum), rental income potential, and borrower creditworthiness. Risks include foreclosure if cash flow falters. Consult a lender for tailored advice.
