Can I refinance if I have a second mortgage, home equity loan, or home equity line of credit?

Yes, usually any second mortgages, home equity loans, or home equity lines of credit are paid off through the refinance. We will consolidate your current mortgage and secondary loan into one new first mortgage, and you will only have one payment each month. If you’d prefer to keep your second mortgage, home equity loan, or home equity line intact, we may be able to ask your second mortgage lender to remain in second position and allow us to refinance the first loan. This process is called subordination, and there is typically a fee charged by the second mortgage lender.