Is it better to roll-in your closing costs or get a 2nd mortgage to cover them?

We just closed on our townhome this past Friday. We ended up with less money than we had hoped for because the closing costs were so high. We're due to close on our new single family home August 10th and those closing costs are going to be higher than we planned for too! Anyway, we're going to be about $4,000 short on closing costs for the new house. Is it better to roll it in to the mortgage or get a 2nd mortgage on top of the first? Not sure how this works. Thanks.Is it better to roll-in your closing costs or get a 2nd mortgage to cover them?
As long as the house appraises for more than your purchase price plus the $4000 for closing costs, you should be able to write it into the mortgage, which I think would be your best option.Is it better to roll-in your closing costs or get a 2nd mortgage to cover them?
The only program that I am aware of that allows you to roll in the closing costs on a purchase is the Federal Rural Housing Program. There may have been some before the implosion of the sub-prime market but lenders have tightened up considerably.





By the way, if you indicated that both the townhouse and the single family are to be owner occupied you will be in default on the one you are not occuping as a primary rtesidence.
I would rather roll them into the first mortgage. A second lien would add additional closing costs and the interest rate would be higher.