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All Forum Posts by: Andrew Nesbitt

Andrew Nesbitt has started 5 posts and replied 11 times.

Post: How are 2nd mortgages priced?

Andrew NesbittPosted
  • Roseville, CA
  • Posts 11
  • Votes 4

For example.  Lets say you have a $100k house with a $90k first and a $10k 2nd mortgage.  Borrower has an 800 FICO.  The 2nd is at 10% interest only, balloon in 5 years.   How much would a fresh note like that be worth?   How much with 1 year seasoning?

I'm just trying to get a rough idea of how these things are priced.