You will have a first mortgage for 80% of your home accordingly and a second mortgage for the remaining 20%.
Your home is probably the biggest asset you own, and can make the decision to refinance a difficult question.
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A variable rate mortgage can have its advantages at first, but after a few years, the reality will set in and you're stuck with an expensive mortgage.

There will be hidden costs, higher interest rates, fees or expensive fence.

Before refinancing mortgage, check the current market price of the mortgaged property, credit reports, mortgage documents, tax documents.