Some lenders call it​ secured loan.
Better known as​ the​ equity you​ have on​ your property.
In most cases the​ accumulated interest is​ 100% fully deductible as​ long as​ the​ combined loan to​ value of​ the​ first and second mortgage does not exceed the​ price of​ the​ home.
Typically the​ terms of​ the​ loans are for 5; 10 or​ 15 years,​ which means that you​ can choose monthly repayment in​ accordance with your circumstances.
You are free to​ use it​ as​ you​ please - from debt consolidation to​ home improvements,​ from college education to​ buy a​ second home or​ even a​ dream holiday.
Usually,​ lenders are eager to​ lend money to​ home owners because the​ loan is​ secured and the​ borrower has already passed a​ stringent credit worthiness when he applied for the​ first mortgage.
Come on,​ you​ can do it.