We want to help you own an Edina home!
Follow in the steps of hundreds of families who have made Edina home, thanks to the Come Home 2 Edina 2nd Mortgage Program. This below-market rate loan program has been in place for over 20 years and could actually lower your total housing payments. Call today to find out more!
The rules are simple:
- The length of the 2nd mortgage is the same as your 1st mortgage
- Simple interest accrues for the life of the 2nd mortgage at the same percentage as the 1st mortgage, or share in the appreciation of the property upon completion of the term or at the time of sale
- Payments of principal are deferred until you sell or refinance your home
You have two options :
- Pay only the monthly interest on the loan; or
- Choose capped, shared- appreciation and make no monthly payments on the 2nd mortgage