Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for rhondalayne

if I have a mortgage but also a home equity line of credit can I combine the two into one mortgage

We adopted a baby this last year and had to take out a home equity line of credit. We are looking to refinance our original mortgage but we would like to combine if possible the home equity into this mortgage. We have excellant credit. Can you tell me if this would be possible

  • November 18 2011 - Algonquin
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (7)

well, since you already know, from all the responses, that  combining both loans  is a possibiity... and depends on a number of things............ let me simply say.......Congratulations on your new baby!!

all the best...........
  • November 28 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Yes but there may be better options.  Make sure you ask for a "NO CLOSING COST OPTION"
  • November 28 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The short answer is Yes of course you can roll both loans into one new loan. The long answer is we need more information.
 #1 What is the combined total of both loan balances?
#2 What is the current value of your home?
Knowing the answers to these two questions will determine if you can do it or not.
  • November 19 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Is it possible to combine an equity line and a 1st mortgage?  Yes. 

Can you?  That would depend on several things: 1) when was the last time you took a draw on the equity line?  How much is the home worth?  What are the balances on the two loans?  What is your credit score?  What is your income, and what is its source?  What other bills do you have?

Sorry.  You probably wanted a simple answer to what you thought was a simple question.  The truth is the answers to all of these questions are needed to determine what options you might have.

  • November 18 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for daveskow
all depends on

equity in home ..what are balances on loans and value of home ?
your ability to qualify
  • November 18 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

What are the balances of both loans and the estimated home value?
  • November 18 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Quite possibly. If you were able to get an Equity Line, last year, that is a good sign. Have you spoken to your current first mortgage lender to see if they could combine the two?
  • November 18 2011
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.