When to Consolidate a 1st and 2nd Mortgage into One Loan

If you have the ability to refinance your 1st and 2nd mortgages together for a lower interest and monthly payment without adding mortgage insurance, you should move forward with that loan consolidation option immediately. Most homeowners do not have enough equity in their home to refinance 1st and 2nd liens together. Gone are the days when you can refinance two mortgages into one loan with a low fixed interest rate and no private mortgage insurance. FHA offers refinance loans to 85% when consolidating a 1st mortgage and a non-purchase money 2nd mortgage.

Compare Refinance and 2nd Mortgage Quotes
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