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Trying to Re-fi a fixed 30 yr(200K)currently at 6.25. Credit is in the high 600's LTV is only @ 10%

I have not been able to find a rate under 6% and possible points to buy down to 5.75%.  Would the new federal program help me?  Or is there something else I should be looking at.  I have talked to my current mortgage holder (WF) and a broker, no one can come up with anything better?
  • April 02 2009 - Eagle
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Answers (8)

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Thanks for your help!
  • April 02 2009
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Contact Sherry S.  She is well respected on this site and services Minnesota and Wisconsin. 
  • April 02 2009
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Do I have to go to someone specific for an FHA?
  • April 02 2009
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Okay starting to make a little more sense.  You only have 10% equity in your home so your LTV is 90%... With those credit scores, you should be looking at a FHA loan.  You should be able to get 5.0% with 0 points.
  • April 02 2009
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Yes, both my husband and I have full time secure jobs @ 90k combined income per year.  I have been told it is because of the loan to value and our credit score.  We have never missed a payment but have been late a couple of times.  Score is high due to debt we were carrying, I just paid off @ $6500 of it with tax money.  Approximately $10k left in credit card debt, 30k in between both cars and 10k on a camper.
  • April 02 2009
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I just priced your loan on our website and found a 4.75%.  You should take advantage of Zilllow's free rate quote.  Many good lenders will offer you real-time rates and you can select from some highly qualified lenders!
  • April 02 2009
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Jac,

You are not telling us something. What's missing? By your statement you should be hearing numbers around 5% Conforming / 5.75% Jumbo Conforming / 6.3% Jumbo <$3M. Please clarify. .... Rudi
  • April 02 2009
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How is that even remotely possible....Wait a minute.  Can you document your income??
  • April 02 2009
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