Tag Archives: Refinance

If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?

Posted on July 25, 2011 by Admin

Question by indygyal: If I’m buying another home in a different state can I refinance or use my homes equity to buy the other home?
I have a 2 family home in Massachusetts. The value is 246,700.00. I owe only 139,000.00. Can i refinance and use equity to buy another home in Florida. I plan on moving to Florida eventually and would like to use the money for a downpayment.

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Q&A: Home equity loan or refinance existing home loan?

Posted on July 7, 2011 by Admin

Question by Hottiez: Home equity loan or refinance existing home loan?
My husband and I are looking into a home equity loan or refinancing our existing home loan. We own a doublewide on 4 1/2 acres that has been converted to real property.
Which is better? A home equity loan, or refinance our existing loan? Where do we start? What should we know? And what we should be careful of?

Best answer:

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BD Nationwide Mortgage Offers a Convertible Home Equity Line of Credit with Options to Refinance Portions to a Fixed Rate Second Mortgage Loan

Posted on July 7, 2011 by Admin

Encinitas, CA (PRWEB) August 29, 2006

BD Nationwide Mortgage introduces a smart home equity loan that can separate into several loans with both fixed and adjustable rates. BD Nationwide has released a new home equity product that boasts of a convertible home equity line of credit offering options for turning variable interest rates into fixed rate second mortgages. BD Nationwide proudly presents the “Fixed Rate HELOC Conversion Program.” This unique home equity program allows homeowners to convert portions of their adjustable rate equity line into fixed rate home equity loans. Another key feature is that these second mortgages allow you to keep the unused portion of the home equity line open, while fixing the interest rate for the specified portion. In that sense, the HELOC splits into two loans. (one loan is a fixed lump-sum loan and the other is an open end line of credit)

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