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I owe more than my home's estimated value in today's market; can I get refinancing at a lower rate?

Profile picture for ajennin2
My loan is a CDA loan with an adjustable rate which is now 5.125, scheduled to increase to 5.375 in one year and then 5.750 in two years.
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January 07 - Arcadia
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Answers (1)

Profile picture for mdmortgagemama
The estimated value here is not necessarily what your home is worth, It will be important to speak with a lender to determine your situation and your best option.

You may qualify for an FHA loan with no appraisal (a streamline)  The CDA loan may subordinate (agree to stay in 2nd position). 

Warm Regards.
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January 08
 

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QuestionI owe more than my home's estimated value in today's market; can I get refinancing at a lower rate?
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