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Lender rating
Since July 2009
Lender rating
Since August 2009
Lender rating
Since September 2009
Lender rating
Since November 2009
Lender rating
Since August 2009
Since your loan is not owned by Fannie or Freddie then unfortunately you cannot use the Making Home Affordable Refinance. But you should not have a problem doing say an FHA refinance right now, but yes, your new loan would have PMI if you are at a 95% LTV. I would also consider you luckier then most people if you were able to refinance with PMI.
But if the PMI payments offset any monthly savings that a lower rate would grant you then you might be better off sticking with your current mortgage. Have you experienced a hardship which has led you to having difficulty making your existing payments? If so, then you might want to go back to Wells Fargo to see if you qualify to have a loan modification done.
Featured Rates are based on state rates for 5/1 ARM loans and are valid for the date shown, but they may change without notice. They are for consumers with a credit rating of 720 or higher and a 20% or higher down payment. Rate, terms, pre-paid finance charges, and APR may vary based on factors such as creditworthiness of the applicant(s), self employment status of the applicant(s), condo or townhouse structure, loan amount, and geographic location of the property.
If a lender does not offer a national rate, a state rate may be shown next to the lender's name. For example, 'Bank name (CA)'.
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Loan NOT backed by Fannie and Freddie
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