Posted on: 17th Sep, 2013 02:54 am
Hello there... My husband and I are considering a 2nd home, is it better to refinance my 1st mortgage or get a separate loan?
Hi Sylvia,
It will be completely your discretion. If you have equity in your first home, then you can refinance that loan and get a cash out to buy a new house.
Thanks,
Jerry
It will be completely your discretion. If you have equity in your first home, then you can refinance that loan and get a cash out to buy a new house.
Thanks,
Jerry
If you're getting favorable terms for refinancing, then it can be an excellent option. But if you're unable to refinance on favorable term, you can apply for a mortgage loan on affordable interest rate.