Mortgage consolidation

If you are consolidating two mortgages into a single mortgage, you are probably looking to stay in the home for some time and should be looking into some type of fixed program. Consolidating mortgages is a great way of reducing the amount of interest paid. Imagine wrapping investment property financing into primary residence financing, or consolidating a first and second mortgage into a single loan with a fixed rate, with a strong enough equity position, you can avoid mortgage insurance. Whatever your reason, if this is your goal, you should be looking at a fixed program unless you have a very strong reason for considering a Hybrid ARM.

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