Can you roll a previous debt into a new home mortgage loan, and if you can does it rise your intrest rate???
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If you have an assumable mortgage, what you can do is turn your original home mortgage loan into a “wrap-around” mortgage. In which the buyer of your existing home makes higher interest rate payments on your existing loan. You receive a break on your new mortgage payments, and of course the bank makes out well.
Wrap-arounds are tricky to explain, but I know it can work for you. Consult someone at your bank, or research it some more.
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Generally speaking, no. Lenders will have a professional appraisal performed on the property, and you will not be able to finance the property for more than the amount for which it appraised. After a period of ownership, you may be able to obtain a HELOC on the property, if you gain some equity, and use THAT to pay off the old debt.