When looking for a second mortgage loan, always take the second mortgage rates as an estimation. Even if you put in all your information and state what kind of loan that you would require, when you go in to sign the deal, surprise charges could be placed on the loan. Always consult your financial advisor, and with the market being a bit unstable, try to get into a fixed rate no matter how much they tell you variable rates are the way to go. A second mortgage loan will take many years to pay off, so there is no telling what the future market will look like.