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Answers (6)
- Clay Branch, "Georgia Loans"
- Contributions:7838
Indy03, if you are still reading this post I have 1 possible option for you
( not an IRRRL with subordination ). If you are interested you can go to my profile page and my email address is under "notes".
( not an IRRRL with subordination ). If you are interested you can go to my profile page and my email address is under "notes".
- Clay Branch, "Georgia Loans"
- Contributions:7838
It does not matter if the 2nd was a purchase 2nd or not on VA, you are still capped at 90% if you combine into 1 loan.
- James Peters, "JamesRPetersSr"
- Contributions:98
The question is is when did you get your second mortgage. Right now VA rates are low enough that it would definitely make sense to look into refinancing. Rates are well below 5 in the low 4's paying the majority of closing costs. I would be more than happy to help you.
- DiamondFundingCorp
- Contributions:454
The best source of free property valuations is your local realtor. With the pool, you can usually get 35 cent to the dollar on what it cost. Kitchens and bath remodeling get your 45 cents or more.
As previously mentioned, if the second was not used to originally purchase the home, the paying off the second with the first is called a cash our refinance. The VA places limits of 90% LTV on this kind of refi.
Hopefully, with favorable news from your realtor, you can make this work.
- Rhonda Sparger, "Rhonda Sparger"
- Contributions:7
You might be able to go 90% loan to the value of your home and put both the 1st and 2nd mortgage into one but we will need to check out the guidelines for certain. If you would like call or e-mail me and i can see what we can do.
- Jemeil Lambert, "JayLends"
- Contributions:24
Hello... If the second was obtained after the purchase of the home you will be unable to go to 100% on a VA loan. To do a straight rate and term the appraised value will have to equal the first mortgage and you can resubordinate the second. Hope this is helpful
Possibility of VA 100% refinance?
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