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Can I Refi with a 90% loant to value?

Profile picture for crandall232
Looking to refi a first mortgage and equity line together. And cash out 20,000 to pay off credit carrds. The loan to value is with the 20,000 cash out is 90%. Is that possible today? Thanks
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October 28 - Baltimore
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providing that you meet the fico requirement and the value is accepted, I know a lender that will do 90% LTV cash out No mortgage insurance

Thank you

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November 15
Profile picture for Greg Darlin
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Since September 2009

Crandell,
Only FHA will allow you to go to 85 LTV for cash-out.  Conventional maxes at 80%. 
If your equity line was for the purchase of your home and have not taken any monies since, you can do a rate/term refinance.  However, the extra $20,000 you will not be able to do.
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October 29
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you = your

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October 29
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Why do you want to convert your non-secured debt into secured debt which you will pay on for years to come?
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October 28
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85% LTV would be the max in today's world........maybe you could size down you request?   Any way you go will depend on the value of you home.
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October 28
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Maximum cash out is 85% of appraised value and that is with an FHA loan.
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October 28

With Cash out you'll be maxed out at 85% LTV.

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October 28
 

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