When attaining more than one mortgage there can also be some large fees
, depending on the amount of the loan and how long it will take you to pay it off. The worse your credit is, the higher your rate will be. Although most lenders will offer up to 95% of the equity, you should never borrow more than 80% of the combined value of all the loans. When considering any additional mortgage, speaking with a mortgage broker will help in weighing all of the options to make an informed decision.