Keep your low first-mortgage rate. Borrow a lump sum on top.
A fixed-rate second mortgage gives you one lump sum, one fixed rate, and one predictable payment for the full term — while your current first mortgage stays exactly as it is.
How a fixed-rate second mortgage works
1. You apply once
One application, one credit review. We price the second mortgage against the other eleven programs at the same time.
2. You borrow one lump sum
You receive the full amount at closing — ideal for a remodel, tuition, or paying off higher-rate debt in one move.
3. Your rate is fixed
The rate is locked for the full term, with 10–30 year options, so your payment never changes.
4. Your first mortgage stays put
The new loan sits behind your current mortgage. Your existing rate and payment are untouched.
Key terms
A single large expense — a remodel, tuition, or consolidation — with one fixed payment.
- Type
- One lump-sum loan alongside your first mortgage
- Rate
- Fixed for the full term
- Term
- 10–30 year options
- First mortgage
- Left untouched
Keep your low first-mortgage rate; borrow a lump sum on top.
A fixed-rate second mortgage is usually right when
- You know the amount you need today — one check, not a series of draws.
- You want one fixed payment you can plan around for years.
- Flexible FICO scores are considered — we look at your full credit picture, not one number.
- Your first-mortgage rate is low and you don't want to refinance it away.
- You're consolidating higher-rate debt into one steady payment.
Look elsewhere when
- You'll spend over time and want to pay interest only on what you use — a HELOC fits better.
- You're self-employed and your tax returns understate your income — a bank-statement HELOC is built for that.
- You're 62 or older and want no monthly payment at all — a reverse mortgage is the honest answer.
- Your first-mortgage rate is high anyway — a cash-out refinance may give you one simpler loan.
What might a fixed-rate second mortgage cost?
Enter three numbers, an assumed rate, and a term. This is arithmetic, not an offer — your real limit and rate come from underwriting.
The assumed rate is a placeholder for the math. Your actual rate is priced off your credit, equity, and lender guidelines.
Assumes 85% combined loan-to-value.
Within the range many lenders work in.
Principal and interest over 20 years at the assumed fixed rate.
Estimates only — not a quote, an approval, or a commitment to lend. Taxes, insurance, closing costs and closing costs are not included.
Or call us directly — 602-550-5626.
Common fixed-rate second mortgage questions
What's the difference between this and a HELOC?
A HELOC is a line you draw from over time. A fixed-rate second mortgage pays you one lump sum up front with a fixed payment from day one.
How long are the terms?
Typically 10 to 30 years. A shorter term means a higher payment and less total interest.
How much can I borrow?
It comes down to combined loan-to-value: your mortgage balance plus the new loan, measured against your home's value. The estimator above shows the arithmetic.
Does applying hurt my credit?
One application means one credit review. We price every program you're eligible for from that single review.
Why not just refinance?
If your current rate is low, refinancing replaces it with today's rate on your whole balance. A second mortgage only prices the new money.
Not sure a fixed-rate second mortgage is the one?
A lump-sum second mortgage is one of twelve ways to use your equity. Compare them side by side, or tell us your situation and we'll point you at the two or three that genuinely fit.
Questions? We're Here to Help.
Call me today to discuss which program is best for you.
What Our Clients Say
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