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2. What is a second mortgage, and how does it work? - AOL

   www.aol.com/finance/second-mortgage-does...

   A new monthly payment. Getting a second mortgage means adding another monthly obligation to your budget. ... Bankrate’s home equity loan calculator can help you see if such a loan makes sense ...

3. How to calculate your home equity — and how much of it you ...

   www.aol.com/finance/calculate-home-equity...

   Lenders calculate your CLTV or combined loan-to-value ratio when you apply for a second mortgage. It represents the total debt against the home: both the original mortgage and the size of the new ...

4. How to refinance when you have a second mortgage - AOL

   www.aol.com/finance/refinance-second-mortgage...

   Refinancing a second mortgage can be worth doing in a few scenarios, such as when you can save money overall, reduce your monthly payment or convert from a variable interest rate to a fixed one.

5. Second mortgage - Wikipedia

   en.wikipedia.org/wiki/Second_mortgage

   The more common of the two is the 80/10/10 mortgage arrangement in which the home buyer is granted an 80 percent loan-to-value (LTV) on the primary mortgage and 10 percent LTV on the second mortgage with a 10 percent down payment. [33] The piggyback second mortgage can also be financed through an 80/20 loan structure.

6. Loan-to-value ratio - Wikipedia

   en.wikipedia.org/wiki/Loan-to-value_ratio

   A similar property with a value of $100,000 with a first mortgage of $50,000 and a second mortgage of $25,000 has an aggregate mortgage balance of $75,000. The CLTV is 75%. Combined loan to value is an amount in addition to the Loan to Value, which simply represents the first position mortgage or loan as a percentage of the property's value.

7. Amortization calculator - Wikipedia

   en.wikipedia.org/wiki/Amortization_calculator

   An amortization calculator is used to determine the periodic payment amount due on a loan (typically a mortgage), based on the amortization process. [ 1 ] The amortization repayment model factors varying amounts of both interest and principal into every installment, though the total amount of each payment is the same.