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I would like to get a quote but I am getting zero results.

I have a condo in Charleston, 29405 worth $65,000 with a loan for $72,000 through Seterus. It has mortage insurance and it is rented. The current interest rate is 6.75. I would like to look into getting a HARP refinance. I also have a house in Charleston, 29418 worth $150,000? with a loan for $142,000 through FHA. The interest rate is 4.85. I would like to look into geting a FHA Streamline or another type of refinance depending on what the house might be worth. Please advise if you have any products that may suit my situation.
  • August 03 2012 - North Charleston
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Answers (3)

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Thank you for the information!
  • August 03 2012
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Ask around for a referral.   With rates as low as they have been for the past year, I am sure there is somebody you know who has refied and can give you the name of the loan officer who helped them. (neighbors, coworkers, friends, etc...)

FHA has a streamline refinance program where you don't need an appraisal. A $142,000 loan would not be too low for most companies to help you out.

If you are upside down on your rental property, you should look into whether you qualify for the HARP program.   The loan has to be owned by Fannie Mae or Feddie Mac AND has to have been originated prior to June 1, 2009.   It is available for investment properties. The current mortgage insurance you pay would transfer over to the new loan you are taking out. Because the loan amount is so low on that property, you may have a harder time finding somebody to help you.   Many lenders have minimum loan amount requirements.   Not impossible, just harder to find.

Hope this helps!
  • August 03 2012
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Hi there,

I am sorry that you didn't get the results you expected.  Based on the information that you typed in it looks like your loan amount is too small.  I would recommend taking a look at our underwater resource center for more details.

Thanks,
Candace
Zillow Customer Support
  • August 03 2012
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