Sylvia Setash (MoneyStash)
#21 ranked lender in Virginia - 3 contributions
Wow, sell, sell, sell - forget about what's good for the consumer!Why exactly do you want to combine the two loans? Did you take out both loans at the time you bought the home? (ie, did you ever take equity out of the property?). If you are looking to combine the two to reduce the rate, you may be disappointed in the savings if you go FHA, due to the MIP. If you desire to combine the two in order to take advantage of the lower rates, you very well could do better keeping them as two mortgages and refinance doing an 80/15/5. Many will tell you these loans do not exist or impossible to find, but I can prove them wrong.