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Answers (4)
- KKSka14
- Contributions:63
EDIT: that's 0.074%.
- KKSka14
- Contributions:63
My mortgage bank is based in Northern Virginia. You've got to understand that the HELOC and 2nd mortgage market is dead or almost dead. The vast majority of lenders will not accept a new HELOC as a form of down payment, and I'm not even sure you many lenders will grant HELOCs at that LTV. As an aside, your interest on the HELOC would likely be costlier than your PMI. Priced a similar transaction out today and got monthly PMI at 90% LTV of 0.0074% compared to HELOCs that are running in the 2-4% range.
- Daniel Bowman, "DanielBowman"
- Contributions:21
Refinance of a primary residence 512,000 on the first and need a 59,000 HELOC for a simultaneous 2nd to close on the first - to avoid PMI. Home valued at 640,000
- Geofrey Merino, "GMerino"
- Contributions:444
Is this a refinance? What is the loan amount that you are seeking?
Does anyone know of a Bank/CU that will go 90% LTV or higher in the Northern VA/Fairfax/DC area?
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- 0.0/5.0
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