First second MortgageSecond first mortgage
The combination of your first and second mortgage
The combination of your first and second mortgage can significantly lower the amount of your money you pay each month. An advantage of the consolidation of your mortgage is that it can lead to lower recurring mortgage fees and even lower lending interest for you. Plus, many group insight that funding their point and point security interest faculty add unneurotic statesman artifact and system to their finance being.
Funding your first and second mortgage together can have different results dependent on the amount of capital currently available in your home, your mortgage amount, your borrowing status, and other factor. Perhaps you took out a home equity line of credit to fund home enhancements or to include higher education teaching expenses. Because a home equity line of credit is usually a variable interest linked term loan, the numbers are obliged to vary.
It is therefore important to consult with an advisor about your lending option before making important funding choices. When you have used a second mortgage or an own capital line of credit to buy your home, we can usually borrow up to 95 per cent of the value of your home. When you have used your second mortgage for something other than purchasing your home, then most of what we can borrow from you in re-financing your mortgage is 80 per cent of the actual house value.
To help you get a start, we can assess your present situation to see if and when the combination of your first and second mortgage is the best option for your funding needs.
First and second combination mortgage
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