High LTV RefiI bought a short sale in Aug 2012 for $349,000. I put down 10% and have a 4.25% interest rate for 30 years backed by Fannie Mae. Zillow suggests the house is currently worth about $385,000. I owe $313,000. My annual gross income is about $73,000 (verifiable, long-term employment). The only debt I have is the mortgage ($1989/mo) and a car payment ($260/mo). My FICO was around 740 when I obtained the mortgage. The house needs a new roof, furnace, all new windows and some other cosmetic, non-urgent updates. Do I have a snowball's chance in heck of getting a refi with cash-out of about $50,000 without a significant jump in the interest rate? I don't want to go to the mortgage brokers and go through all the paperwork and hoops if I don't have a chance of getting a loan with a decent rate. Any advice would be appreciated.February 24 2013 - Larkfield-Wikiup00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.