Is it possible to refinance a 1st and 2nd mortgage (combine into 1 Jumbo Loan) while also adding a HELOC?
1st mortgage: $390K
Property Value: $700K
Answers | 2
Yes, you can do this. Feel free to contact me through my profile, I can help you.
Yes, you would be wise to keep the new first mtg at $417K (the max "conforming " loan limit in most counties and then get the new HELOC in place to payoff the remnant of the existing 2nd mtg and for the additional funds you want access to.