A loan secured by real property, or in some jurisdictions the security instrument associated with that loan.
Put this term into context.
Use related guides, calculators, and magazine features to see how this concept affects real home-equity decisions.
Related Education Guides
Second Liens on Rental Property: Preserving a Seasoned First Mortgage
A second-lien strategy may preserve an existing first mortgage while creating access to equity, but investors should compare combined leverage and cash flow.
Read guide →Veteran Homeowners and HELOCs: Comparing Flexibility With a New First Mortgage
A conventional HELOC and a VA-backed cash-out refinance solve different problems. This guide compares flexibility, lien position and the effect on the first mortgage.
Read guide →When Keeping Your First Mortgage May Matter
Many homeowners focus on the cash they can receive and overlook the economics of replacing the entire first mortgage.
Read guide →Home Equity Loans for Veteran Homeowners: When a Fixed Second Payment May Fit
For veteran homeowners who want a known lump sum, a home equity loan may provide a fixed-payment alternative to a revolving line of credit.
Read guide →Related Magazine Features
Investor Scenario of the Month: $500,000 Rental, $225,000 First Mortgage, $100,000 Capital Goal
The recurring investor feature compares a DSCR HELOC, DSCR HELOAN or second mortgage, and DSCR cash-out refinance using a realistic rental-property scenario.
Read feature →The Low-Rate Mortgage Problem: Accessing Equity Without Replacing a Great First Mortgage
Options investors can consider when they want equity access but do not want to give up an attractive existing first-mortgage rate.
Read feature →DSCR Cash-Out Refinance vs. DSCR Second Mortgage
A side-by-side look at replacing the first mortgage with a larger loan versus adding a second lien behind it.
Read feature →
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