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Lines of credit typically have higher interest rates which is why many people chose to refinance with a cash-out option.

A line of credit differs from a standard amortized first mortgage in that the money can be taken and paid back as needed from the equity in the home. A second mortgage with a cash-out option provides the credit you need without the higher interest rate. Second Mortgages are available when refinancing your first mortgage with First Option.

This can be an excellent option for financing home improvement projects or creating an emergency fund for your family. Usually, the interest payments are also tax-deductible, but be sure to consult with your own tax advisor.

Getting a second mortgage should be done with care and under the advice of your Loan Originator and other finance experts.

Apply Now to start the application process for a second mortgage and one of our trusted loan professionals will work with you to determine the best option to fit your needs. We can’t wait to hear your story.

Shane, you were definitely the right dog to put in the fight. Everyone else told me that my situation would not allow me to purchase another home for my family and you were the only one out of many that said it could be done! They were dead wrong! Thanks so much for your effort and making my family's dreams come true. If anyone out there needs a real expert on the VA home loan process, Shane Johnson is the person to talk to. Thanks again! Sergeant Kenneth J. Guidry HHC 3/156 Infantry