Profile picture for jinglealltheway

Which is the best route on refinance to take HARP or conventional fixed/no cash out?

86000 balance left on original loan.  No early pay-off penalty.  No escrow or MIP.  6.75 % 30 year fixed.  Freddie Mac loan.  Average credit score 760+. No other loans.  Credit Card minimum payment/month; 40. 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 14 2010 - Austin
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (5)

jinglealltheway,

As Don mentions below, with your lower than 80% LTV your better off going Conventional.  Although rates have ticked up a bit over the past 10 days, you are still looking at a much lower interest rate should you proceed with your refinance.  If your comfortable with your current payment you might entertain shortening your loan maturity as well (say 15 or 20 year), which will save you even more interest in the long run if you plan on staying in your home for a long time.  
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 21 2010
Hello,

If your LTV is below 80% you do not need to use the HARP program.  That is for LTV's over 80% up to a CLTV of 110%. If your home came in less you cold be switched over.  I am in my Realtor profile now but I am also a mortgage broker so I do these types of loans all the time.

Good luck to you.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 14 2010
Profile picture for jinglealltheway
On the tax roles for 120,000.  Using that as a base LTV would be  71.7%
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 14 2010
Profile picture for the_country_hick
Assuming your house is worth more than the loan amount talk to a local lender. They can give you all the information you need. Local banks and credit unions along with mortgage brokers can help.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 14 2010
Profile picture for wetdawgs
What is your loan to value ratio? 
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 14 2010
 
Related Questions
pre foreclosure refinance
Profile picture for wayne lancaster
Latest answer by wayne lancaster
April 16 | 3 answers
Refinance to 10 yr ARM
Profile picture for shapiroamg
Latest answer by shapiroamg
January 23 | 6 answers
  • Asked by jaison joseph
  • In Refinance
  • January 22
Self Employed with excellent credit seeking portfolio/private loan in Austin, Texas
Profile picture for Thai Pham
Latest answer by Thai Pham
July 15 2013 | 10 answers
  • Asked by elementalnomad
  • In Refinance
  • July 11 2012
Refinance help with 95% LTV
Profile picture for Tom Burris
Latest answer by Tom Burris
February 01 2013 | 3 answers
  • Asked by tphillips79
  • In Refinance
  • January 30 2013
Does anyone have experience with Charter Lending or Benchmark Mortgage?
Profile picture for Geofrey Merino
Latest answer by Geofrey Merino
December 06 2012 | 1 answers
  • Asked by user1763773
  • In Refinance
  • December 06 2012
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 3305 Galesburg Dr # 0, Austin, TX Home For Sale
    3305 Galesburg Dr # 0, Austin, TX 78745

     For Sale: $10,000

    • Beds: 3
    • Sqft: 1672
    • Baths: 2.5
    • Lot: --
  2. 9313 Queens Park Cv # 1, Austin, TX Home For Sale
    9313 Queens Park Cv # 1, Austin, TX 78717

     For Sale: $10,000

    • Beds: 4
    • Sqft: 2176
    • Baths: 3.0
    • Lot: --
  3. 5512 Oakwood Cv # 0, Austin, TX Home For Sale
    5512 Oakwood Cv # 0, Austin, TX 78731

     For Sale: $10,000

    • Beds: 4
    • Sqft: 2843
    • Baths: 4.0
    • Lot: --