Question:

Should I ever refinance second mortgage loan?

Answer:

Yes, why not? The refinance second mortgage loan option exists and is as relevant as refinancing a first mortgage. You seek better rates, and if your credit is better and rates of second mortgage loans are falling, this is the time to consider refinancing a second mortgage loan.

However, before you take any steps, discuss refinancing the second mortgage loan with your personal banker, if you have any, or with some loan officer. They should be able to advise you on how to maximize your gains, what to do in order to get a real good deal. They may be able to point a good deal to you, or advise you to wait a bit or hurry up, if they have expectations about which way the market rates will go.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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