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are there refinance loans with 90% or 95% LTV available

  • November 08 2010 - San Francisco
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Answers (8)

Stella,

There are several programs available for refinancing high loan-to-value situations.  The best way to determine which option makes the most financial sense and matches your overall goals is to have a TOTAL COST ANALYSIS provided to you.  This analysis will break down the interest left on your current mortgages & compare the interest and costs of refinancing, along with strategies on how to best use/re-direct the savings.

Feel free to contact me with any questions. 

Best regards,
Steve

  • November 10 2010
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FHA.
  • November 09 2010
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Rudi is correct.  Is it rate & term or is it cash-out? Without knowing all the details of your loan and your situation we would only be generalizing and guessing. Without all of the facts and figures it will be impossible to determine your potential eligibility.  If you will provide more information here, lenders on these forums will be more than willing to help you answer your questions.  In fact, most of us are pretty nice :).
  • November 08 2010
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If you have a Fannie Mae or Freddie Mac loan, you may be able to refi with a 90%/95% LTV.  It will depend on other factors (i.e., credit score, debt to income ratio, etc.)  You can access these websites to find out if you have one of those loans:
Fannie Mae
Freddie Mac

  • November 08 2010
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Is this Rate & Term Refinance or Cash Out? What is the loan amount, property type and the lowest middle FICO Score of all borrowers? Without knowing this no one can answer your question properly. It would just be a Guesstimate.

Happy funding, Rudi
  • November 08 2010
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Yes and it does not necessarily need to be an FHA loan or HARP eligible.  Depending on your loan amount, credit score, and debt-to-income you may qualify for a conventional conforming rate and term refinace up to 95% LTV with private mortgage insurance. No Cash Out. 

  • November 08 2010
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Yes.  In fact depending on who actually owns your mortgage note (often NOT the name on your servicing coupon) you may be able to refinance your loan with an LTV of 105%.
In addition, if you took your original mortgage out without having mortgage insurance, this will allow those that qualify to avoid having mortgage insurance for the new refinance even if your LTV is in this range.
Great opportunity and easy to find out:
1. Check comparable sales now - establish your estimated LTV.
2. Check to see if your loan if owned by Fannie or Freddie online - google search their "Loan lookup tool".
3. Talk to a reputable mortgage planner that can offer you the program or at least guide you in the right direction.
I hope that helps, if you need more information, or would like my assistance please don't hesitate to contact me.
Yours to count on,
Paul~
  • November 08 2010
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Yes, if you and your property qualify you can get an FHA loan for up to 95% of the value, but it can't be a cash out re-fi.
  • November 08 2010
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