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Answers (7)
- Jason Hall, "Jason Hall"
- Contributions:38
If you have an FHA loan you could do a streamline without appraisal now at around 4.5% and the value isn't even an issue. If you have a conventional loan you aren't going to have any options really except possibly a "short refinance" which is a new program that has recently come out here in UTAH. Those are your best options.
- matt114
- Contributions:3
oh sorrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrry...u cant
Thats true nobody will refinance your mortagage untill and unless u dont have equity left on your property........if someboady is ready to refi on 100% and saving money dan u may proceed ......
- Patrick Ignacio, "patrick ignacio"
- Contributions:322
Yes home values have gone down nationwide except for few isolated areas. If your numbers are accurate, you will not be able to find a lender who is able to refinance your loan due to the amount you owe is more than the home is worth.
If you are looking to reduce your rate and/or payment, i would suggest speaking to your existing mortgage company and see if they can modify your terms.
If you currently have FHA financing, this is the only program you are able to refinance for a lower program without worrying about the above issue. FHA offers a "streamlined" refinance for better terms regardless of value.
If you are looking to reduce your rate and/or payment, i would suggest speaking to your existing mortgage company and see if they can modify your terms.
If you currently have FHA financing, this is the only program you are able to refinance for a lower program without worrying about the above issue. FHA offers a "streamlined" refinance for better terms regardless of value.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
- Andrew Andreasen, "AndrewLoans"
- Contributions:3
If you are saving money then yes! Everyones home had declined in the last few years.
Shoud I refianance with a low appraisal
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