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Need to RefI 100%

Profile picture for dazzle0322
I need to find a lender who will refi me for 100% of the loan. I have excellent credit and decent income currently in an ARM Mortgage and is going to expire of August 2008. Looking for any information or help would be greatly appreciated.
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October 02 2007 - US

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Profile picture for ColoradoLender
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As long as you can fully document you employment and income you should be ok to secure 100% financing. The rate on the second wont be pretty if you do an 80/20, but perhaps a my communtiy program or FHA loan might be your best bet depending on location and income.
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October 02 2007
Profile picture for DebtFreeDave
Real Estate Agent
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You can still do a Fannie Mae My Community loan to 100%. The loan limit is only $417,000. If you have any questions you can email me at dmmason@att.net.
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October 02 2007
I hate to say this because the economy could go either way. But.. you may want to wait. You think your home may build up equity in the next 10 months (where you won't be at 100% ltv?) Can you start applying extra to the principle since you have the income? Can you get the current lender to modify the loan (to save costs) due to your excellent credit?
Downside.. values continue to depreciate and rates go up. I'm taking the risk and waiting
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October 03 2007
Profile picture for ColoradoLender
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Ya have heard of those, dont know much about them though to be honest....Youre in Scottsdale eh? Just finished up a deal in Flagstaff is that close to you guys?
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October 03 2007
Profile picture for DebtFreeDave
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Yep....
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October 03 2007
nic7 -

No unnecessary comments please.
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October 03 2007
Profile picture for ColoradoLender
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Did i miss somethin? what was unnecessary?
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October 03 2007
Profile picture for Timeka
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HI my name is Timeka Clark with Icon Mortgage in Las Vegas. I have some great programs at 100% financing. Please call me at 702-807-2189.

Thank you
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October 03 2007
Profile picture for mlester02
Contributions: 16
Timeka,
How high of a loan can you do at 100%? I want to refi out of my existing loans and owe about 1.3 mil. With the market crashing my appraisal will probably only come in at 1.35-1.4. I dont want to pull any money out, I just want to refi in to a better loan. I have excellent credit (above 730), very good income and low debt. Can you help me?

Thanks
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October 04 2007
Profile picture for ColoradoLender
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lester-What part of the country are ya in Lester? We are a broker as well and have many 100% options as well, can you show full documentation on income? Shoot me an email at nic@halloan.com and we can take a look at it.
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October 04 2007
lol. Look at all the vultures trying to score the loan..........


to help you lester , this is what you do.

A million dollar loan is a SUPER jumbo , so this case is atypical.

What you honestly want to do is go get an unescured business line of credit and then BUY DOWN whatever shortage you can refinance your property at.

To be quite honest, you wont get an offer on a sale unless its 30% discounted right now, so selling cannot be a realistic option.
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October 05 2007
Profile picture for mlester02
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Thank you for the reponses. I am not looking to sell, at all. I just want to refi in to a better loan, simple as that. If I cant right now it isnt the end of the world, I can wait.

Thanks again
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October 06 2007
Profile picture for ColoradoLender
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Tom=hypocrote, check out the other threads with him plugging his own website as one of the most reputable honest websites he knows of......as if its not him own..get real
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October 06 2007
Profile picture for mlester02
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Nic7colomtg, I emailed you as requested. Look forward to getting some info.

Thanks
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October 06 2007
Profile picture for markinsc
Dennis Homsley is offering the best advice so far. Unless you can get into a fixed rate with a comprable payment theres no reason why you shouldn't wait untill your arm is going to reset. When you do refi, choose wisley.
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October 06 2007
Profile picture for Countrywide2008
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Dazzle0322,

Anyone looking to refinance 100% right now can still do so with certain criteria. You've met one of the standards with excellent credit if your mid-score is above 720. You can contact me Monday thru Friday at 1-888-683-6430. Ext. 4580. Vincent Town
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October 07 2007
Profile picture for Countrywide2008
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Mlester, I think I can assist as well, If you want a second quote. Just call me or email me when you get a chance. Just click on my name above.
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October 07 2007
 

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