If you’ve been thinking about ways to bring in some extra money for a project or plan, you may have begun exploring the options and benefits of a second mortgage. Many homeowners wait until they have been in their homes a few years in order to build up a certain amount of equity in order to make a refinance worthwhile, but what if you need money now for a family emergency, a remodeling project, to pay off debt or just for a big vacation and haven’t been in your home all that long? You may think that a second mortgage is off the table right?

Wrong!

There are many banks out there that are willing to work with homeowners in getting them a second mortgage, especially in times like these where families are doing all they can to find extra money. You have options when it comes to getting the second mortgage that fits your family and your budget. For example, some refinance loans don’t require an appraisal of the home, while others may roll closing costs into the new refinance. Others may offer you a loyalty bonus for choosing to stay with the bank that provided you with your first mortgage. In any case, the road to a second mortgage doesn’t have to be a game of cat and mouse with bankers. You can have your pick of great rates and flexible payments, even if you’ve only been in your home a few years!