These are just two different terms for the same subject.A second mortgage can either be a fixed-rate funding or an adjustable-rate credit line. What Is A Second Mortgage? When you obtain a second mortgage mortgage the lender will place a lien on your home. [...] There is no difference between a home equity funding and a second mortgage. Interest rates and mortgage program terms will vary from lender to lender so it is important to shop around and compare before committing to any one offer.mortgage proceeds from a second mortgage funding can be used for just about anything.
Chandler Real Estate

Information is deemed relaible but not guaranteed.