Refinancing 1st and 2nd mortgages can improve your bottom line.
Can You Refinance a First and Second Mortgage into One New Loan?
Second mortgage rates are typically a few points higher than first mortgage rates, so if you currently have a large 2nd mortgage, then you stand to uncover some significant savings when combining both mortgage loans together.
However if you decide to refinance your both mortgages together, don’t get caught up on the first mortgage rate. If you save money each month and are able to lock into a fixed rate loan, then it makes sense to refinance them together.
