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Refinance my 1st Mortgage without PMI. Pls provide suggestions

Hi, I do have a Mortgage with two loans. One is interest only - curent rate 4.5% until 2011 and second one fixed 30 years for 7.7%. I like to refinace first one or both but without any PMI. Any chance? Please provide your suggestios.
Thanks
Thomas
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September 11 2009 - Dublin
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Ray - you are giving way too much credit to the accuracy of the zillow estimates. I would say they should be used for entertainment purposes only and play no roll in determining eligibility for loan qualification.
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September 12 2009

What does Zillow estimate the value of your home is?

Compare that to the total of the 1st and 2nd loans.  If you are 80% or less, there will be no PMI.

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September 12 2009
you have a good rate on both of them , if you dont have 80% loan to value you should wait to gain some equity at list for a year, prices are stabilizing .    art
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September 11 2009
If the combined loan amount exceeds 80% LTV no options for avoiding PMI. If the second is not a purchase money second then the max LTV would be limited to 75%. What are your loan balances and estimated value if you would like more information.
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September 11 2009
 
Related Questions
Refinance my 1st Mortgage without PMI. Pls provide suggestions
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Latest answer by Chris Corica
September 12 2009 | 4 answers
  • Asked by JACOB THOMAS
  • In Refinance
  • September 11 2009
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