Profile picture for coconne

Is it possible to refinance a jumbo of $590,000 to 30 yr fixed w/ balance in equity line?

  • December 18 2008 - Evanston
  • 0Yes

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Answers (5)

Profile picture for John Paunan
Of course I'm probably going to get flagged for responding and admitting that I've quoted such a scenario. As has been made very clear to me, Zillow does not provide for piggy-back loan quotes and providing such quotes may lead to my account being suspended, even though avoiding jumbo loans in Illinois should be the goal of every reputable LO.  Just my $.02.
  • December 18 2008
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Ahh, now I understand the question, I guess I should read better. Have John help you, he's the man ion Illinois!
  • December 18 2008
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Profile picture for John Paunan
I think I may have actually quoted the exact scenario you've requested; if you haven't submitted a request, then I would recommend that you visit the ZMM.  It is possible and if your credit is strong, then the rates will be very competitive on both loans. 
  • December 18 2008
  • 0Yes

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It's possible, but you probably won't like the interest rates since the conforming limit where you are is 417k.
  • December 18 2008
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Depends, what is your loan to value?  How much is the 2nd?  What is your credit score?
  • December 18 2008
  • 0Yes

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