I own two homes each with their own mortgage. I am currently paying around 7 percent and would like to bring that down a little bit. I spoke with my bank and they informed me that because I have two properties I would not be able to refinance....does this sound right? what are my options? I am in the State of California by JustinM2567 from Oakland, California. Nov 30th 2010
No that does not sound right. You can absolutly refinance two homes as long as you qualify. Please give me a call at 707-206-2832 and/or email me at loansbycindy@gmail.com with your questions. My name is Cindy MacDonell with Primary Residential Mortgage Inc. We can do loans in most states and I am located in Northern California. Please give me a call and I can answer any questions you may have.
I agree you should be able to refinance both. We allow up to 10 financed properties.You can email me at info@ecarolinalending.com for more information.
Consider a DU Refinance Plus. Give me a call for more info. Jake B 913-541-0303 ext137
It sounds right if you do not have 6 months of reserves for both homes, and are not credit and income worthy. I am currently helping a borrower in Utah with two homes and am able to refinance them both with the same lender as well. I think there must be more to the story.
Is it possible the 2 homes are on the same parcel? IF so, then it will be more difficult. Otherwise, you should be able to refinance them both at a significant savings. I am currently working with 3 clients that are refinancing more than 1 property and as long as you qualify with 6 mos payments in reserve for any rental property owned and you meet the loan to value and credit requirements, you should be just fine. I will review your situation with you.Please call me toll free at 866-901-3576. Thank you, Patrick McCarthy
It doesn't sound right. ... There must be other reasons mentioned that you don't recall.Happy funding, Rudi
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