Can I combine my first and second mortgages at a lower interest rate?

Asked by Neolia R

2 Answers

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Answered by Samuel Kotzur, Loan OfficerPRO+ in Ocean City, MD
You can combine your first and second mortgage into one new mortgage, but there a few factors you would need to consider. You would have to check the current rates on your two mortgages and what the new rate would be. You also need to have the equity position available to combine the two balances into one loan. Many times, most borrowers like having just one mortgage payment as opposed to two. | 10.30.16 @ 21:06
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 18:20
Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA
Neolia - thanks for the question, yes you can consolidate 2 loans to 1 new loan as long as you qualify and the loan program that you want allows this to occur.
| 11.15.16 @ 21:33
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$commenter.renderDisplayableName() — {comment} | 12.08.16 @ 18:20
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