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Can I combine two house loans into one loan?

I own two houses both worth approx $350.000. I owe abotu 150,000 on each.Can I get loan to combine into one mortgage? by dfoster192 from Irving, Texas. Sep 29th 2014 Reply


Henry J Daniels, CMPSI, CMHS (HenryJDanielsNationalMortgage)
#2 ranked lender in Texas - 128 contributions

You could get a cash out loan on one and own the other free and clear. Other than that what you are asking is a blanket loan and is available but you'd have to own 5 or more properties do do that.

Sep 29th 2014
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Dan Paladin (dpaladin)
#2 ranked lender in California - 417 contributions

The short answer is no.."blanket financing" combining several pieces of collateral is not available for conventional financing...it is available with some private lenders or commercial financing which have different terms...

Sep 29th 2014
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I would love to be able to get a loan fo rapprox 303,000 pay off one free and clear.

Sep 29th 2014
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Dan Paladin (dpaladin)
#2 ranked lender in California - 417 contributions

Hi...I only work in Ca. though I do know TX has some pretty strict cash out guidelines. My first question is the value...are the homes worth $175K each? Or $350K each? There will be loan limits that apply to a cash out refinance. Check with your local mortgage banker with this info and they can advise you...

Sep 29th 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

It's possible, but not how you think.. You could do a cash out refi on one property, take the proceeds from the cash out and pay off the other loan.. But keep in mind that in TX, your only allowed to do a cash out on your primary residence to 80% of it's value.. 75% for investment properties.. for a $350K value, you could only finance $280K for primary, or $262,500 for investment. So if you go this route, you would need to bring money to the table to make it work.. otherwise, there is no Blanket financing available for your scenario. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Sep 29th 2014
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they are both worth approx $350,000 I owe about 150 on one and 153 on the other.I would like 10 year loan.

Sep 29th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,106 contributions

William J Acres pretty much nailed it on the head. Sean

Sep 29th 2014
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One property in California and the other on the river in Arizona.

Sep 29th 2014
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Dan Paladin (dpaladin)
#2 ranked lender in California - 417 contributions

Feel free to contact regarding the Ca property and I can do an analysis for you to see if it makes sense and meets your objective...877-369-4319 or 562-254-5616. Regards

Sep 29th 2014
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Dave Metsker (DaveMetsker)
#38 ranked lender in Oregon - 2,317 contributions

A $300,000 loan on your primary residence may be the best answer; that loan is about 86% of the property value, so you would have some mortgage insurance. A blanket loan where available, would be at much higher commercial rates.

Sep 29th 2014
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

Cash out loans are generally possible up to 85% of the home value unless you are eligible for a VA mortgage.

Sep 29th 2014
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