Mortgage Solutions for You: Subordinating

Published by pacbay on Fri, 02/07/2014 - 11:20 in
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*Interest rates are subject to change without notice and do not constitute a commitment to make any loan at any specific rate.


client had a primary loan of $428,000 and a line of credit for $36,000. Originally, he wanted to combine both together and receive a new loan total of $464,000. Since this is considered a “cash-out” and the new total loan amount would be more than $417,000 (the conventional loan limit), this brought the interest rate up to 3.75%.

The solution?

We decided that he pay down his first mortgage (using his own funds) to $417,000 and subordinate his line of credit. This way, we were able to drop the interest rate to 3.25%.

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