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Can the outstanding balance of a HELOC be included in a refinance of a 1st and 2nd mortgage to a single loan? Is this scenario even allowed?

Posted on: 20th Nov, 2009 01:45 am
can the outstanding balance of a heloc be included in a refinance of a 1st and 2nd mortgage to a single loan? is this scenario even allowed?
Hi Guest,

You can refinance both the mortgages into one single loan. However, you will be able to refinance the mortgages only if you have equity in your property. Moreover, the lender will even look into your credit score and income before approving the refinance.

Take care
Posted on: 20th Nov, 2009 01:58 am
Can a HELOC balance be included in the refinance?
Posted on: 20th Nov, 2009 02:03 am
Hi Guest!

Welcome to forums!

HELOC can be included in the refinance. However, in order to refinance both the loans, you should have equity in the property.

Sussane
Posted on: 20th Nov, 2009 09:11 pm
what she said and what she said.

check with lenders in your area to get specifics on what you're able to do.
Posted on: 21st Nov, 2009 12:20 pm
Thank you all :)
Posted on: 22nd Nov, 2009 11:19 pm
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