[sg_popup id=”8″ event=”onload”][/sg_popup]
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF

Refinancing both your first and second mortgage will lower your monthly mortgage payment and qualify you for overall lower rates. It will also save you money on closing costs and application fees. And while you are looking at rates and terms, you can reevaluate your loan’s payment schedule to better fit your budget needs.

Why One Mortgage Is Better Than Two

Lending companies prefer financing one total mortgage rather than two separate loans. So second mortgage rates are at least a point higher than first mortgage rates.

San Francisco | 1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments  | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments  | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF

Refinancing your two mortgages into one will qualify your for a lower rate mortgage. Since lenders charge flat application fees, you will save money by going through the process only once. Closing costs can also be cheaper.

Readjusting Terms

In all likelihood, your mortgages have different terms. Refinancing is a good time to reevaluate those terms and decide what would best meet your budget concerns.

If lower payments are your concern, then choose a longer term. While this will increase your total interest costs, it will ease your immediate budget concerns. Then when your financial situation improves, you can make principal payments to offset the interest costs.

When concerned about interest costs, it’s best to opt for a shorter term with its lower rate. You can also pay points to further lower your rates. But this is only wise if you plan to keep the loan for several years in order to recoup the costs.

San Francisco | 1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments  | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments  | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF

Separate Is Sometimes Better

In some cases, it is better to keep two separate mortgages to save money. In some instances, refinancing your mortgages individually will get you better rates overall. This is especially true if your total mortgage principal equals more than 80% of your home’s value.

If you plan to cash out part of your home’s equity while refinancing, you may also want to finance a second mortgage separately. Cash out refi loans automatically boost your loan’s rate.

In order to find your best option, request quotes for refinancing your mortgages together and separately. Also look at several different lenders to be sure you are getting the most competitive offer.

San Francisco | 1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF
San Francisco | 1st And 2nd Mortgage Refinance Loan – Refinance And Lower Mortgage Payments | Mortgage residential and commercial home loans SF

Powered by Agent San Francisco – SF San Francisco. All rights reserved.© 2012 Copyright by Agent San Francisco™. All rights reserved. Agent San Francisco is an independent real estate brokerage.
“Agent San Francisco real estate brokerage” is an independent real estate brokerage firm with CaBRE – California Bureau of Real Estate Lic #01173770 and Mortgage Loan Originator MLO – NMLS ID: #1203203 & NMLS ID: #1425778 – Agent San Francisco is equal opportunity housing mortgage broker and
real estate agent that abides by all California Bureau of Real Estate rules and regulations. Agent San Francisco Mortgage Loan originators MLO’s and advertising are in compliance with FTC, U.S. Department of Housing & Urban Development (HUD), Regulation Z [12 CFR §1026.24], Reg CaBRE, Mortgage Acts and Practices — Advertising rule, known as Regulation N – [12 Code of Federal Regulation §§1014 et seq.] – The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB).
Licensed and endorsed under California Bureau of Real Estate. (CaBRE)
CaBRE Broker #01173770
Mortgage Loan Originator (MLO) NMLS ID #1425778
Mortgage Loan Originator NMLS ID #1203203
Searches related to residential home and commercial real estate lenders San Francisco
residential home and commercial real estate loans San Francisco
San Francisco residential home refinance and commercial real estate lenders list
largest residential home refinance and commercial real estate lenders San Francisco
residential home refinance and commercial real estate funding San Francisco
residential home refinance and commercial real estate financing San Francisco
residential home refinance and commercial mortgage lenders San Francisco
residential home refinance and business real estate lenders San Francisco
residential home refinance and private commercial real estate lenders San Francisco
Home purchase loans and refinancing

Agent San Francisco Real Estate SF

Agent San Francisco Real Estate SF
Agent San Francisco Real Estate SF

Licensed real estate broker CaBRE #01173770 | NMLS 1425778 & 1203203 | 415-796-0086 | www.agentsanfrancisco.com

rssyoutubevimeoinstagramflickrfoursquare
Facebooktwitterredditpinterestlinkedintumblrmail