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Consolidation loan needed

I have three mortgage payments. One for my primary residence, another for my son's house, and an investment property. I am looking to combine all of these payments into one. Is it possible to do this? by mk.711645 from Milford, Virginia. Dec 1st 2015 Reply


Kay Cleland (kay@kcmortgagecolorado.com)
#31 ranked lender in Colorado - 225 contributions

Great day to you .... I do not know of an option in the conventional/fha product lines that will allow to combine mortgages / properties. Are all of the properties in the same state?

Dec 1st 2015
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Joyce Ettingoff (speedlad)
#35 ranked lender in Maryland - 68 contributions

Yes if you qualify this would be easy to do. Call me at 301 915 5644 and I go over the details of your situation and let you know for certain that we can do this and save you some money. Thanks for asking. I am with Buckingham Financial Group. We are licensed in your state. my email is joyce@buckinghamfg,com..we are nearby and licensed in Virginia

Dec 1st 2015
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Scott Kinne (Skinne)
#29 ranked lender in Virginia - 72 contributions

If you have enough equity in one of your 3 properties, you could do a cash out refinance pulling out enough cash from that equity to payoff the other 2 mortgages, thereby putting all 3 on one property. Hopefully that would be your primary residence as the equity requirements to pull cash out of an investment property is much more strict. Please call me if you would like to discuss in detail. Scott Kinne- VP -NMLS# 182351 - First Heritage Mortgage...703-293-6146

Dec 1st 2015
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

Possibly, but it wouldn't be the best thing for you to do.. First, there are no conforming loan products which allow you to do this.. so you would need a private money lender.. and typically, those rates and fees are much higher than conforming loans.. Second, if you did combine all 3 into 1, and something happened where you cannot make the payments.. which property do they foreclose on? The answer would be "All 3".. so is it possible? Yes, but at a high cost.. If you have sufficient equity in one of your properties to where you could do a cash out refi, and use the funds to pay off one of the other properties, then you could eliminate one of your loans, but that's the only thing that might help... 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 NMLS# 226347

Dec 1st 2015
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