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Second Mortgage Rates  & Typical Terms | 2nd Mortgage Rates Avg

What are the typical terms of a traditional second mortgage?

A traditional second mortgage has a fixed rate of interest with equal monthly payments applied over the life of the loan. The rate of interest is determined by a borrower's equity and credit and is usually a few percentage points higher than rates on first mortgages. The typical loan term typically ranges between 10 to 15 years.

Top 50 National Rates - Top 50 U.S. bank and thrift holding companies by assets.

As of 11/05/2019	Average	High	Low
Home Equity Line Rates	6.00	7.89	3.92
Home Equity Loan Rates	5.64	9.75	3.25

 

In rate chart below click Refine Search and click Home Equity Loan - 5 Years, 10 Years, 15 years or more years in order to see traditional Second Mortgage Rates (scroll for long list of lenders). Considered the best chart for traditional second mortgages.

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Home Equity and Second Mortgage Frequently Asked Questions
Home Equity Lines with Zero Closing Costs

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