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Posts: 2
Registered: ‎10-18-2012
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Have 2 Home Equity Loans and want to Refinance

[ Edited ]

I have 2 Equity Loans and a main mortgage (3 total).   I'm trying to consolidate them all under one 15 yr fixed.  Is that possible?  In the past, I had some problems with mortgage companies to get them to do that. But that was back in the mid 2000's. 


Would this be possible now?


Thank you!!



Regular Contributor
Posts: 135
Registered: ‎01-04-2012
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Re: Have 2 Home Equity Loans and want to Refinance

anything is  If you have the equity in your house,the income, and scores to cover it, it shouldn't be a problem

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
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Established Member
Posts: 22
Registered: ‎08-16-2012
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Re: Have 2 Home Equity Loans and want to Refinance

Yes you can do it AND now is the time to do iitI just refinanced at 3% from a 5%

and combined my home equity with my mortgage...savings of a one grand a month!

plus rolled in cc dedt.



DTI has to be good along with good credit scores and equity in your house..

you need to provide more info you need clarification



Moderator Emeritus
Posts: 5,279
Registered: ‎03-18-2008
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Re: Have 2 Home Equity Loans and want to Refinance

What is the combined balance of your 3 loans and what is the estimated value of your home?  Were those home equity loans purchase money loans or were they taken out sometime after you bought?  If the home equity loans were not used to purchase your home, then a consolidationloan would probably be classified as a cash-out refinance and additional equity requirements may apply.

New Visitor
Posts: 2
Registered: ‎10-18-2012
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Re: Have 2 Home Equity Loans and want to Refinance

Around 260k. I got the loans after I got the original mortgage.  The est value is 305 k.  Would this work under your scenario?



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Posts: 1,065
Registered: ‎05-26-2010
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Re: Have 2 Home Equity Loans and want to Refinance

The issue might be your equity.  If the property appraises for $305K, then 80% LTV would be $244K.  So this might be a problem, unless you could pay down $16K of debt, or find a lender willing to write a second for the $16K, or go below 80% LTV.

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012
Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Current Score: 11/06/2013 EQ 708 11/06/2013 EX 702 11/16/2013 702 11/06/2013 TU 729
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