First mortgage Sentence Examples
Enter the total amount you still owe on your first mortgage.
He founded at Dresden the first Mortgage Insurance Society (Hypotheken-Versicherungsgesellschaft), and as a result of the success of his work was summoned in 1860 to Berlin as director of the statistical department, in succession to Karl Friedrich Wilhelm Dieterici (1790-1859).
The amount borrowed will be combined with the amount the borrower still owes on his first mortgage.
In general, equity loans are relatively easy to obtain, and is often easier to qualify for than a first mortgage.
With a cash-out refinance, you refinance your first mortgage for more than you owe and get cash back at closing.Advertisement
By refinancing your mobile home, you trade your first mortgage in for a new mortgage.
The best part about refinancing is that the process is generally much simpler than obtaining a first mortgage.
The applicant must qualify for a first mortgage from a lender certified by the city of Orlando.
Check with the lender holding your first mortgage to see if they offer bridge loans.
Has a first mortgage that is no more than 105 percent of the value of their home.Advertisement
The stimulus program allows homeowners to refinance their home if their first mortgage is up to 105 percent of the current value of the home.
The time to take advantage of the federal stimulus package is before you miss your first mortgage payment.
Usually the reverse annuity mortgage must be a first mortgage.
Typically, a customer enters into a pre-foreclosure state as soon as they miss their first mortgage payment.
A second mortgage is similar to a first mortgage because your home secures the debt.Advertisement
In order to qualify for a second mortgage, your home must be worth more then you owe on the first mortgage.
Whether you are buying a home for the first time using an 80-20 mortgage, or tapping into the equity on a home you already own, the house must be worth enough after the first mortgage is paid to guarantee the debt.
Typically, no title search is required because a title search was already completed on the first mortgage.
The risk is higher because the holder of the first mortgage has first claim on the home, or proceeds from the sale of a home in the event of foreclosure.
However, the question of when is it worth it to refinance arises because when you refinance you have to pay closing costs, just as you did when you took out your first mortgage.Advertisement
Both the owner and bank would have an interest in the land, usually with the owner carrying the second mortgage and the bank carrying the first mortgage.
The best place to start when looking for a HELOC for an investment property may be the existing lender for the first mortgage.
On the other hand, if you do this you're now carrying two loans instead of just one and, further, your first mortgage and its terms have not changed.