What Is a Second Mortgage?
A second mortgage is a loan that uses your home’s equity as collateral, allowing you to borrow additional funds without refinancing your original mortgage. It’s a great option if you need access to capital but want to keep your current low-interest first mortgage intact. With options like lump-sum home equity loans or revolving lines of credit (HELOCs), second mortgages offer financial flexibility for a wide range of needs.

Why Choose a Second Mortgage?
Second mortgages are ideal for homeowners who want to leverage the value of their home without selling or refinancing. Whether you’re funding renovations, consolidating debt, covering education expenses, or investing in a new venture, this loan offers competitive interest rates and the potential for tax-deductible interest (consult your tax advisor). It’s a smart way to make your equity work harder for you.
Maintain Your First Mortgage Terms
One of the biggest advantages of a second mortgage is that it doesn’t affect your existing first mortgage. That means if you have a great rate or a favorable loan term on your primary mortgage, you can keep it intact while still accessing the equity you’ve built.

Benefits of a Second Mortgage

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Access Cash Without Refinancing Your First Loan

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Flexible Use of Funds

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Lower Interest Rates Compared to Other Credit

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Maintain Ownership and Stability

Who Qualifies for a Second Mortgage?
Qualification for a second mortgage depends on your home equity, credit score, and debt-to-income ratio. At Shannon Leigh Johnston, we make the process simple by offering personalized support and expert guidance. We help you understand how much equity you can access and work with lenders that offer competitive terms tailored to your financial profile.
Why Homebuyers Trust Shannon Leigh Johnston for Their Mortgage Needs
At Shannon Leigh Johnston, we’re more than mortgage professionals—we’re dedicated advocates for your financial success. Licensed in Florida, Minnesota, and Wisconsin, we’ve earned the trust of homebuyers by delivering expert advice, personalized solutions, and unmatched client care. From your first consultation to closing day and beyond, our focus is always on you—your needs, your goals, your future.
We are known for
Every borrower is unique—and so are our loan strategies.
From first call to final closing, we provide attentive, one-on-one support.
Long-Term Relationships, Not One-Time Transactions
Solutions for Self-Employed & Non-Traditional Borrowers
"FAQs"
We offer a wide variety of loan options to meet diverse financial needs, including FHA Loans, VA Loans, Conventional Loans, Self-Employed Loans, Reverse Mortgages, and Second Mortgages. We help you choose the right one based on your goals, income, and credit profile.
Getting pre-approved starts with a short application and documentation of your income, assets, and credit. We’ll review everything and issue a pre-approval letter so you can shop for homes confidently and make competitive offers.
Yes! We specialize in helping self-employed borrowers qualify through bank statement or asset-based loan programs. Even without traditional W-2s, we can help structure a loan around your true income.
VA loans offer eligible veterans and active-duty service members benefits like no down payment, no private mortgage insurance (PMI), and competitive interest rates—making homeownership more affordable and accessible.
Pre-qualification gives you a general idea of how much you can borrow based on basic info. Pre-approval is a more in-depth review of your finances and is typically required by sellers to accept your offer seriously.
Licensed Guidance in FL, MN & WI.
Whether you’re buying your first home in Florida or settling down in Minnesota or Wisconsin, our loan expertise ensures a smooth and confident home financing experience in your region.
