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Finding a home that shares a lender who will be the first mortgage and debt consolidation loans not only in the
I owe what I want to consolidate to buy a house because I have a home at prices lower than the estimated value. As already share that the mortgage lender first and second at the same time? This would reduce the debt on my income and put me in a better financial position because I will not only pay will be reduced.
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By getting a second mortgage you will be at a higher interest rate and introducing a 2nd payment, so it would be like having 2 mortgage payments. Albeit the 2nd one is probably much lower.
You should just negotiate a lower down payment and get a larger 1st mortgage.
I would consult a mortgage broker, it is much easier dealing with 1 broker then hunting for a lender. Let the broker do the neg’ing for you. They usually find a better rate anyway.
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LikeDislikeNot going to happen these days. It’s next to impossible to find a lender who will grant a mortgage for more than the purchase price of the property.
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LikeDislikeIt is going to be tough to get more than the purchase price of the home. There are a few lenders who might be willing to lend 125% but the interest rate will be on the higher side.
You will not know for sure till you ask around and do your research. Use a site like Bills.com to get quotes from multiple lenders, that way you will know the chances of getting the kind of loan you are looking for.
You can put your information at:
https://www.bills.com/homeloan/purchase/
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