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Loan request

I'm looking to refi my single detached home that is located in southern CA. We currently have a 5.375 rate that is interest only, which expires in 2015. Our house is worth $320k and we owe $269k, so the conventional 80/20 LTV. Will not work for us. This refi will be filed jointly with both parties having good credit scores (740 & 730 range). We are current with our payment. This is the only property we own and we reside in this home, we do not have a second mortgage.
  • February 19 2012 - Los Angeles
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Answers (6)

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  • February 23 2012
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Profile picture for prtynft
Thank you for all the great advise. It is very much appreciated!
  • February 19 2012
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Some Lenders offer Mortgage Insurance Products that allow a borrower with high credit scores such as yours to have greater than 80% LTV and still qualify for a Conventional Loan. It's called Single Risk Premium Mortgage Insurance and is financed into the loan and does not add to your montly payment.
  • February 19 2012
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user957877, click on the professors picture then click on contact and email him your phone # since you are available now.
  • February 19 2012
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Your situation should be a breeze. I read your other posts and don't know why you are being told you cannot go above 80% LTV.
  • February 19 2012
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Go to Zillow Mortgage Marketplace, fill out the information and you should get 10  or more quotes in your email. 
  • February 19 2012
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