Whenever split that is doing these terms are usually tossed around: 2nd liens, 2nd mortgages Split Financing means utilizing two mortgages to buy or refinance a home so your total quantity financed is “split” up into two loans. a 2nd lien is home financing that exists behind a primary lien mortgage and it is typically utilized to prevent home loan Insurance (MI) and/or Jumbo financing. Separate funding and 2nd lien