A Family First 2nd Mortgage Loan can be used to make improvements on your home, pay college tuition, consolidate your bills or many other financial needs. These loans are available with repayment terms of up to 15 years and are at a FIXED interest rate. The amount you can borrow is capped at $100,000 on a FFFCU 2nd Mortgage Loans and these loans are available only on your principal residence, not on rental or vacation property. You can use your 2nd Mortgage loan to tap your equity at a fixed rate without refinancing your 1st Morgage. (Your outstanding mortgages are limited to 80% of value of your home. Mortgage closing costs will apply.)
If you have questions about whether a 2nd Mortgage would be right for you, give us a call at (406) 727-7575.