Is it possible to refinance only my first mortgage and based it on the 100% value of my house?

Answer 1

Are you asking this: You have a property valued at $100,000, with one mortgage at $80,000 and the second at $20,000. Are you asking if you can refinance the first only and get $100,000, or what.

Take the value of the house, subtract the mortgage you want to keep, and whatever's left is what you can get...if there's anything left.

Many lenders will only lend 90% of the value on a refi if you're getting cash out, and 95% if it's strictly purchase money being refinanced.

Answer 2

Not if there is already another mortgage.