1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments



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.



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 concer...
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