second mortgage
noun[C]
FINANCE,PROPERTYukus(alsoremortgage);(alsoUShome equity loan)aloanthat someone gets usingtheirpropertyassecurity(= anassetthat thelendercan take if theloanis notpaidback), when they have already used thistypeofloantobuytheproperty:
Thebankoffersa 20-year, fixed-rate secondmortgageoptionat anamountup to 4% of theappraisedvalueof thehome.