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Probably not as the rate is usually a lot better on a mortgage

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16y ago

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Is paying off a house or loan cheaper?

Paying off a house is cheaper. You already have interest on your mortgage, why take a loan and increase your interest? Aim to pay off your house unless you are looking to buy a new one. Get a job tubby.


what type of grant would help to pay off about $35,000 mortgage loan for senior citizens?

what type of grant would help to pay off a mortgage of about $35,000 loan for senioir citizens?


How can you remove the cosigner from a mortgage?

You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.You must pay off the mortgage and refinance the loan in a single name.


Can you get your bankrupt ex partner taken off your joint mortgage?

You would need to refinance your mortgage loan to remove the ex.


When can you eliminate mortgage insurance from your loan?

You can eliminate mortgage insurance from your loan when you have paid off at least 20 of the home's value.


How can you get your name off a loan when you're divorced and signed a quit claim deed?

You would have to refi to get your name off of the mortgage.


Can title insurance be transferred when refinancing a mortgage?

Typically, a Loan/Mortgage policy cannot be transferred to a new loan as the title coverage is unique to each loan. The mortgage coverage on a loan ends when the loan is paid off and satisfied, that is why new coverage is taken out on the new loan. However, in the case of a Mortgage Modification of an existing loan, the coverage may be extended to cover the existing loan and the new loan amount of the Modification. There would still be title charges for the changes in the Mortgage Modification coverage in most cases.


How do you remove a former partner off of a mortgage loan?

You would need to take that question up with the lender. It may want you to refinance the loan.


Should you pay off a default loan before or after you apply for a Mortgage?

You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.


What are the differences between an open mortgage and a closed mortgage?

An open mortgage allows you to pay off the loan at any time without penalties, while a closed mortgage has restrictions on prepayment and may have penalties for paying off the loan early.


When can you remove the mortgage insurance from your loan?

1. when the bank allows or 2. when you pay off the mortgage.


Can you use a home equity loan to pay off your existing mortgage?

Equity is the value of your home less the amount owed on the mortgage. A home equity loan is a loan secured by the equity in your home. Your lender will use an assessment to decide your home's value and the amount of equity available to abstract. If the available equity exceeds your mortgage balance, you can use an equity loan to pay off your mortgage. If your mortgage exceeds the available equity you cannot use the equity to pay off your existing mortgage.