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Replies (2)
- Chris Trapani, "The20YearMortgagePro"
- Contributions:4
K,
According to ALL the of the guidelines that I have, The PMI will remain at exactly the same rate regardless of whether it'
s a rental or not. The PMI companies are all on board with the program.
Since they are insuring it now and it is not owner occupied - you lowering your mortgage payment will only enhance the odds that you will continue to make the payments!
[website deleted by Zillow moderator. Please review our Good Neighbor Policy for posting guidelines]
According to ALL the of the guidelines that I have, The PMI will remain at exactly the same rate regardless of whether it'
s a rental or not. The PMI companies are all on board with the program.
Since they are insuring it now and it is not owner occupied - you lowering your mortgage payment will only enhance the odds that you will continue to make the payments!
[website deleted by Zillow moderator. Please review our Good Neighbor Policy for posting guidelines]
- Norm D Plume, "America Needs Nixon!"
- Contributions:1670
depends on the MI company, some of them won't allow a change from primary to investment.
find out which company is your MI provider then go to their web site.
find out which company is your MI provider then go to their web site.
What are my chances HARP 2.0?
My Pros:
1.) Credit Score: 787
2.) Current on all payments
Now for the challenging parts:
1.) I have PMI
2.) As of 12/2011 it is has switched from primary to an investment property
I am trying to get some sort of reply from my current lender (because of the PMI restrictions) and want to know how likely it is that I will be approved for a HARP Refi.
Thanks for any advice.
-K
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