second mortgage loanWith the upheaval in the financial markets brought on by the mortgage crisis, fewer and fewer people are looking at a second mortgage loan, simply because credit standards have tightened pretty severely since the heyday of the lending binge a few years ago. A second mortgage loan, however, can be a really useful instrument for getting money to upgrade your home, remodel it, or add energy efficient improvements to it. There are even home equity loans that favor the borrower who wants to use the money to improve their home's windows, heat pump, and appliances so it consumes much less energy. A second mortgage loan that meets the requirements for an energy efficient loan often carries a lower interest than ordinary second mortgage loans. Lenders believe that improving a home's energy efficiency increases the home's value faster, and also makes it easier to resell. If you are thinking about making improvements to your home's energy efficiency, ask your mortgage broker about these loans so that you can take advantage of favorable rates and add comfort to your home.