If you have a second mortgage and want to refinance into into a new mortgage with a lower interest rate and better terms. BD Nationwide will assist you in your quest to shop lenders offering refinance loans, second mortgage, FHA loan refinancing, loan modifications and fixed rate mortgages for cash out or consolidation with fixed payment financing.
You can a refinance a second mortgage into a fixed rate home equity loan, revolving home equity lines or refinance it into a new first mortgage.
You can finally access the cash to help make your financial dreams a reality! Also consider applying for a FHA refinancing and enjoy the lower monthly payments and reduced interest rate.
Shop and Compare Refinancing to 2nd Mortgage Loans
Getting a mortgage refinance loan offers you the opportunity to turn your variable rate credit line into a fixed rate equity loan with fixed mortgage terms. This can save you thousands of dollars a year in interest when you refinance and get cash out with a FHA mortgage that allows you to borrow up to 95% loan to value.
- Refinance and Lock into a Fixed Rate Mortgage
- Fixed Rate Second Mortgage Refinance
- Loans for Debt Consolidation
- Pay off Variable Rate HELOC with Fixed Interest Rates
- Low Rate Mortgage Refinance
- Sub-Prime 2nd Mortgage Refinancing
- Cash Out with FHA Mortgage Refinances
- Non Conforming Mortgages
Consolidate Your Debt and Save Money with Lower Monthly Payments from a Fixed Rate Second Mortgage
- 100% Refinancing – for Fixed Rate 1st Mortgage Loans
- Interest Only Payments with Mortgage Refinance Loans
- Consolidate Debt with 1st Mortgages
- Refinance Adjustable Rate Loans with Fixed Rate
- Low Rate Home Mortgage Refinance to 100% LTV
- Sub-Prime Home Equity Refinancing
- No- PMI (Private Mortgage Insurance)
- Save Money with Fixed Rate Home Equity Loans
- Refinance Your ARM Now!
Should I Get a Refinance Loan With a Fixed or Adjustable Rate?
Refinance Your Second Mortgage Behind the ARM Home Loan
Refinance or Second Mortgage?
Is it possible to Refinance my 1st Mortgage only without Refinancing the Second Mortgage?
Learn more about Second Mortgage Refinancing
Second Mortgage Refinance: This is the process of revising your existing second mortgage, usually with the aim of saving money by reducing the interest rate or accessing additional cash. Many individuals opt for this loan to convert their current variable rate mortgage into a fixed-rate second mortgage with a consistent monthly payment, potentially saving thousands of dollars over the loan term.
The Combined Loan To Value: (CLTV) is a crucial metric that assesses the total balances of the loans secured to the home in relation to the appraised value. To calculate CLTV, add up the balances of the 1st and 2nd mortgages, then divide the sum by the appraised value of the home. For instance, if the first mortgage is $150,000 and the proposed second mortgage is $45,000, the combined total is $195,000. With a home appraised at $200,000, the Combined Loan to Value is 97.5%.
Interest-Only Mortgage: These loans enable borrowers to make reduced monthly payments, covering only the interest portion. No part of the interest-only payment contributes to paying off the principal unless additional funds are added. Interest-only periods typically last for the first 10 years or the draw period for most loan programs. The interest-only mortgage gained popularity with rising property values, making minimum mortgage payments more affordable for homes that might otherwise be too expensive.
Debt-to-Income Ratio (DTI): DTI is determined by dividing your total monthly payments (mortgage, credit cards, loans, etc.) by your gross monthly income before taxes. It is a critical factor considered during the loan underwriting process for approval.