Answers (2)
- tinkerer
- Contributions:1
Why don't you get a conforming at $417K at market and get a HELOC line for putting the other $74K in? A 90% HELOC line would net you a $81,400 line.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
RR,
Your combined loan to value is 77%. I just checked unless I missed something no county in WI qualifies for a high Balance Conforming Loan. Over $417K is Jumbo.
To receive a good Jumbo Rate your LTV must be at 75% or less. If you can do that you could get a loan in the Low to High 4% range on another Arm or Mid to High 6% on a 30F.
If you can't you'll be looking at around 8% on a 30F at 80% LTV or less. ... If that's the case you are prbably better off staying with what you have. ... In all probability your 5/1 Arm will adjust downward. .... Good luck, Rudi
Your combined loan to value is 77%. I just checked unless I missed something no county in WI qualifies for a high Balance Conforming Loan. Over $417K is Jumbo.
To receive a good Jumbo Rate your LTV must be at 75% or less. If you can do that you could get a loan in the Low to High 4% range on another Arm or Mid to High 6% on a 30F.
If you can't you'll be looking at around 8% on a 30F at 80% LTV or less. ... If that's the case you are prbably better off staying with what you have. ... In all probability your 5/1 Arm will adjust downward. .... Good luck, Rudi
If I have a loan for $436,000 @ 5.875 (5/1ARM) , a second for $55,000 what are my options?
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