Cory Thompson

Mid America Mortgage, Inc.

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Cory Thompson February 5, 2025

What’s the Difference Between a Second Mortgage and a Home Equity Loan?

If you’ve been diligently paying down your mortgage, you’ve likely built up a valuable asset: home equity. This financial resource can be a game-changer, offering opportunities to fund major expenses, consolidate debt, or tackle unexpected financial challenges.

Filed Under: Home Mortgage Tips Tagged With: HELOC, Home Equity Loan, Second Mortgage

Cory Thompson November 7, 2024

What Are Your Options When Funding Your Down Payment?

Buying a home is a big milestone, and for many, saving for a down payment can feel like a major hurdle. Fortunately, there are several ways to make that down payment happen. Whether through savings, family gifts, 401(k) funds, or even second mortgages, understanding your options is key to making the best financial choice.

Filed Under: Home Mortgages Tagged With: 401K Withdrawl, Down Payment Options, Second Mortgage

Cory Thompson October 25, 2023 Leave a Comment

What is a Closed-End Second Mortgage?

A closed-end second mortgage is a type of loan that allows a borrower to obtain a lump sum of money using their home as collateral. It is considered a “second” mortgage because it is taken out in addition to the borrower’s primary mortgage. The term “closed-end” refers to the fact that the loan has a […]

Filed Under: Home Mortgages Tagged With: Closed End Mortgage, Mortgage Options, Second Mortgage

Cory Thompson January 31, 2023

What You Need To Know About A Closed-End Second Mortgage

A home is probably one of the most expensive purchases you will ever make. It is important for you to understand all of the options available to you, particularly if you need a quick source of cash, and you might be thinking about taking out a second mortgage.

Filed Under: Mortgage Tagged With: Loan Options, Mortgage, Second Mortgage

Cory Thompson

Cory Thompson


Mortgage Loan Originator
Mobile 832.347.1855
Office 281.218.0505

NMLS ID 225056

Legend Lending

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Recent Posts

  • The Impact of Rental Income on Mortgage Qualification
  • The Impact of Homeowners Associations (HOAs) on Mortgage Approval
  • The Benefits of Online Mortgage Calculators for Borrowers
  • What’s Ahead For Mortgage Rates This Week – May 5th, 2025

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