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Second mortgages can be a useful tool for a client interest in a home equity second lien or a home purchase transaction. Not all mortgage lenders can offer second liens in Texas however Efinity Mortgage is equipped to offer Second liens for many reasons including those listed below.


  • Down payments as low as 3.5%

  • Lower credit score accepted

  • Flexible qualification guidelines

  • Fixed-rate and adjustable-rate loan options

  • Refinance up to 96.5% current home value

  • Cash out and debt consolidation financing

Home Refinance.png

Second Mortgages Are A Great Idea For:

  • Avoid or limit your down payment

  • Avoid Private Mortgage Insurance (PMI)

  • Qualify for a better rate on your primary first lien

  • If you are selling a home you can use a second lien as a buffer until you sell your prior residence and then pay off the second lien and be left with a low rate first lien.

  • It may provide the only way to finance the home under the payment terms you wish

Second Mortgage Opportunities

  • Home Equity loan to consolidate debts or get cash

  • Home Equity Line of Credit (Completely different than a home equity loan)

  • Home Improvement

Home Refinance.png
Home Refinance.png

Second Mortgage Advantages

  • Many are on 30 year fixed rate mortgages

  • Some may have a shorter term like 15 or 10 years

  • Many are on balloon notes like a 30 year fixed mortgage due in 15 years

  • Some have adjustable rate terms

  • Some may have interest only terms

  • Due to the inherent risk for the second lien lender, second mortgages typically have rates 1% to 4% higher than first lien rates.

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