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Answers (4)
- Ed McKee, "OregonMortgage"
- Contributions:17
The short answer is yes with our current lenders.
However, many loan parameters with the new HARP 2.0 program will be lender specific. In other words what some Lenders offer may be different than what other Lenders offer.
However, many loan parameters with the new HARP 2.0 program will be lender specific. In other words what some Lenders offer may be different than what other Lenders offer.
- William Metzker, "MrLiam"
- Contributions:210
It's my understanding that it has to be owner-occupied to qualify for HARP. If you lived there within the last 12 months, you could qualify.
Outside that, I doubt you'll find anything without putting more money into the property to increase your equity to at least 20%.
Outside that, I doubt you'll find anything without putting more money into the property to increase your equity to at least 20%.
- Dave Skow, "daveskow"
- Contributions:1104
1) see if it is eligible for the HARp program http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx
2) contact present lender / servicer to see if they can offer any " internal type refinance options
3) pay the loan down so you are at 80% loan to value and do a regualr refinance
- Bob Willett, "SacRELender"
- Contributions:194
If the loan is owned by Fannie or Freddie you can if the loan was written before mid-2009. If it isn't a Fannie or Freddie it will probably be difficult. The good news is you 5/1 ARM would probably adjust to a rate lower than today's fixed rates - depending on how the note reads.
How can I refinance a rental property with LTV ~90%.
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