A second mortgage is a secured mortgage loan which is secondary to another loan against the same asset. In the real estate arena, a singular property can have numerous loans against it. The mortgage loan that is duly registered foremost with the proper state, city or county agency is classified as the first mortgage. Hence, the mortgage loan registered second is classified the second mortgage, a third loan against the same property is considered a third mortgage, and so on. So the same property can have multiple mortgage loans. A second home mortgage loan is also called a subordinate mortgage because if this loan goes into default, the primary or first mortgage is paid in full then, the second mortgage receives any money. Due to this reason, second mortgage lenders are taking on more risk, thus they pass on some of the risk to you by charging a higher interest rate. If you are thinking about taking out a second mortgage make sure that you can afford to do so and are prepared to place yourself in more challenging financial circumstances with regards to your mortgage loan.

Once upon a time second mortgage loans had a stigma of financial hardship attached to the homeowner who sought the loan. However, overtime this is no longer the case and there is wide spread appeal and acceptance of second mortgages.

Types of Second Mortgages:

* Home Equity Line of Credit
* Home Equity Loan
* Traditional Mortgage

A second mortgage may be good option for:

* Home improvement
* Home renovation
* College tuition
* Debt consolidation
* Emergencies

The real estate calculators and mortgage calculators and business calculators created on Realestate-calc.com were developed to aid the small to intermediate investor in numerically understanding the financial implications of owning real estate.

The Real Estate Calculators estimate the tax consequences of selling real property. The Mortgage Calculators will calculate your monthly mortgage payment or compare two amortizing loans. The Business Calculators were derived from several business plans which were individually prepared for numerous multi billion dollar companies.

The calculators on Realestate-calc.com are set up specifically to allow the user the ability to focus on how each of the above factors may affect the potential economic benefit of refinancing an existing loan, and help take the user step by step through the process of understanding the application of these factors.