The first mortgage is generally said to be more full of emotion than the second (and any subsequent) mortgage.

However, the second mortgage should in no way be given lesser importance than the first mortgage. If you are planning to go for Kings Point, NY mortgage as your second mortgage, you have already taken the first big step (i.e. choosing your next abode). Kings Point, NY is a great choice. 

Second mortgage requires much more analysis and planning than the first mortgage (even though you have the experience of first mortgage backing you). How you plan your second mortgage loan will be dependent on the course of action you decide for your first mortgage loan i.e. whether you want to pay off the first mortgage loan by selling your current house or do you want to retain the current house and still go for another mortgage (i.e. the Kings Point, NY mortgage).

These will affect your mortgage calculations to a large extent. So you should first decide on this. Also check the other debts that you are running currently e.g. credit card debt, auto loan, personal loan or any other kind of loan.

Once you have the figures available for your total monthly outgo and other current and future commitments (money wise), you should go hunting for mortgage offers (you can use sites online to get mortgage offers).  Once you have the mortgage offers with you, put everything in perspective and perform your second mortgage calculations to figure out the feasibility of going for that Kings Point, NY mortgage (and if the outcome is positive then go for that Kings Point, NY mortgage.)