Zillow Advice RSS: Discussion,Refinance, http://www.zillow.com/advice/United-States%253B%253B%253B%253B%253B%253B%253B%253B/mortgage-refinance/discussion/ Zillow Advice search results | Zillow Real Estate Help Refinance- Jumbo loan in Florida http://www.zillow.com/advice-thread/Help-Refinance-Jumbo-loan-in-Florida/493327/ Scenario: Primary home 1st loan - $618k (currently at 7.125% since 2006) HELOC - $97k (interest only - variable interest rate) Total mortgage loans= $715k Broker CMA (estimate) home value - $725k Had been waiting 5 years while home was underwater for it to come back to par value so I can refinance. I can put in $70-80k to bring the LTV to 90% 2 banks have told me they only do 70% LTV in Florida. I'm looking for a fixed 30 year conventional jumbo loan at current rates (approx 3.5-3.75) at 90% LTV My Credit score is 768 Have impeccable payment history. Any ideas or recommendations are very much appreciated. Thanks<br \><br \>2 replies Tue, 21 May 2013 20:53:00 GMT http://www.zillow.com/advice-thread/Help-Refinance-Jumbo-loan-in-Florida/493327/ 2013-05-21T20:53:00Z Mortgage Assumption and State Tax Stamp http://www.zillow.com/advice-thread/Mortgage-Assumption-and-State-Tax-Stamp/408713/ I am considering doing a mortgage assumption, in order to take my ex-wife off the mortgage.&nbsp; Today I received the "estimate of fees" statement from the lender and was shocked to see that there is a "State Tax Stamp - Deed" for 6343.18.&nbsp; I live in Washington State.&nbsp; <br/><br/>A) I am wondering why I would have to pay tax on a house that I already own. Is it because the house is being "sold" from the two of us (partners) to just one of us (single owner)?<br/><br/>I am also hoping someone might have an idea of what options I might have to accomplish the same thing while avoiding this tax.&nbsp; Namely, I want to keep my low rate (4% 30-year fixed) but remove my ex-wife.&nbsp; I will consider refinancing, even if it means taking a slightly higher rate, if I can save myself from that tax.&nbsp; Any ideas?<br/><br/>PS.&nbsp; I'm not looking for advice about looking at the numbers in terms of monthly payments, the length of the loan, amounts going to principle/interest.&nbsp; I am really looking for some tips about types of financing moves that may help me to not pay the state tax stamp.&nbsp; Thanks in advance for suggestions!&nbsp; <br/>Mr. a78<br \><br \>9 replies Sun, 24 Jul 2011 01:55:00 GMT http://www.zillow.com/advice-thread/Mortgage-Assumption-and-State-Tax-Stamp/408713/ 2011-07-24T01:55:00Z Refinance underwater jumbo loan (not a Freddie or Fannie owned loan) http://www.zillow.com/advice-thread/Refinance-underwater-jumbo-loan-not-a-Freddie-or-Fannie-owned-loan/461027/ <p>Bought a Condo back in 2007 for 750K (NY), paid 20% down.&nbsp; A year back my bank (Hudson City Savings) allowed us to do a mortage modification, so moved my 30 yr to a 20 yr fixed on 6/2011.</p><p>Outstanding Loan: $516,520 @ 4.625% - 20 yr fixed</p><p>Current valuation - $450,000 (40% down !!)</p><p>Hudson City bank stopped offering the modification plan a year back. Monthly payments are not an issue, but just can't save enough and make use of these low rates available currently. Is there a way to refinance or any other options ?</p><br \><br \>14 replies Sun, 23 Sep 2012 00:41:00 GMT http://www.zillow.com/advice-thread/Refinance-underwater-jumbo-loan-not-a-Freddie-or-Fannie-owned-loan/461027/ 2012-09-23T00:41:00Z CA Lenders offering 85% to 90% LTV Refinance on Jumbo Loan???? http://www.zillow.com/advice-thread/CA-Lenders-offering-85-to-90-LTV-Refinance-on-Jumbo-Loan/418379/ We have owned&nbsp;our home for 4 years.&nbsp; It is worth $1.5, and our loan balance&nbsp;is $1.3.&nbsp; We would like to get out of our interest only loan and start paying down our principal.&nbsp; We have excellent credit and income.&nbsp; Does anyone know of&nbsp;lenders offering 85% to 90% LTV ratios on a refi?&nbsp;<br \><br \>8 replies Fri, 07 Oct 2011 01:12:00 GMT http://www.zillow.com/advice-thread/CA-Lenders-offering-85-to-90-LTV-Refinance-on-Jumbo-Loan/418379/ 2011-10-07T01:12:00Z Primary residence converting to Rental property http://www.zillow.com/advice-thread/Primary-residence-converting-to-Rental-property/502938/ Hi all,<br/>I'm a first time buyer and planning to buy an apartment in NYC in the next 2-3 months. Our intention is to stay in the apartment for 5-6 years and then potentially sublet/rent it out. &nbsp;Have the following questions:<br/><br/>1. Should we now get the loan as "primary residence" and then refinance as "investment property" after 5 years? &nbsp;<br/><br/>2. If yes to above, how much does the interest rate go up when we choose to refinance? &nbsp;For example, if i get a 4% 30 yr rate now, do I get to keep that rate (with a mark up for investment prop) or just market rates for investment properties for that year, say 2020?&nbsp;<br/><br/>3. &nbsp;What do people generally do in these scenarios?<br/><br/>4. Would you recommend getting a 30 yr investment property loan directly if rates will go up later? &nbsp;Meaning, investment prop loan, but we will live for 5 yrs and then sublet it.<br/><br/>5. What's a "good" investment property rate right now?<br/><br/>Overall, we're concerned that when we chose to refinance later, investment prop interest mights be much higher than current primary residence rates.<br/><br/>Any other thoughts and comments will be appreciated. &nbsp;<br/>Thanks in advance for your help.<br/>SK<br/><br/><br/><br/><br \><br \>5 replies Sun, 21 Jul 2013 21:03:00 GMT http://www.zillow.com/advice-thread/Primary-residence-converting-to-Rental-property/502938/ 2013-07-21T21:03:00Z FHA to Conventional - Prorated MIP due at payoff http://www.zillow.com/advice-thread/FHA-to-Conventional-Prorated-MIP-due-at-payoff/502301/ I am converting from an FHA to a conventional loan. &nbsp;In my FHA lender's payoff statement, the "Prorated mortgage insurance due to HUD" is two times the usual monthly MIP. &nbsp;Why is it not just the usual monthly MIP, but twice?<br \><br \>2 replies Wed, 17 Jul 2013 06:25:00 GMT http://www.zillow.com/advice-thread/FHA-to-Conventional-Prorated-MIP-due-at-payoff/502301/ 2013-07-17T06:25:00Z Any luck with Hudson City Savings Bank Loan Mod? http://www.zillow.com/advice-thread/Any-luck-with-Hudson-City-Savings-Bank-Loan-Mod/449360/ Hi All,<br/>We have our mortgage held by Hudson City Savings Bank in NJ. The principal balance is 480k. I noticed that the Zestimate had climbed to 575k and hence thought I stood a chance for a refi. The "professional" appraisal came in at 400k. <br/><br/>We are struggling with a 5.25% mortgage rate and are desperately trying to get our payments lowered. Hudson City has not picked up the phone or answered an email in about 12 months. Goes without saying that I'll never take a loan from them ever again.<br/><br/>We have now submitted our file to Hudson City via NACA. <br/>Has anyone had any luck with these guys? <br/>Any other suggestions?<br/><br/>thanks in advance<br \><br \>24 replies Mon, 02 Jul 2012 18:00:00 GMT http://www.zillow.com/advice-thread/Any-luck-with-Hudson-City-Savings-Bank-Loan-Mod/449360/ 2012-07-02T18:00:00Z Trying to refinance a investment property with low score http://www.zillow.com/advice-thread/Trying-to-refinance-a-investment-property-with-low-score/470381/ I am trying to figure out how to refinance a rental property with a low credit score.&nbsp; How do you know the bank criteria for a loan.<br \><br \>2 replies Tue, 04 Dec 2012 20:33:00 GMT http://www.zillow.com/advice-thread/Trying-to-refinance-a-investment-property-with-low-score/470381/ 2012-12-04T20:33:00Z I am at about 53% equity ratio. But I have a lot of cash in my and my equity in my home is greater t http://www.zillow.com/advice-thread/I-am-at-about-53-equity-ratio-But-I-have-a-lot-of-cash-in-my-and-my-equity-in-my-home-is-greater-t/489184/ I am at about 53% equity ratio. But I have a lot of cash in my account and my equity in my home is greater 50%. Is there anyone that can refinance my home. It seems my car payments take me over 50% debt ratio, but I could pay this off very easily. Would anyone refinance my loan without me having to pay down my car loan.<br \><br \>9 replies Tue, 23 Apr 2013 15:22:00 GMT http://www.zillow.com/advice-thread/I-am-at-about-53-equity-ratio-But-I-have-a-lot-of-cash-in-my-and-my-equity-in-my-home-is-greater-t/489184/ 2013-04-23T15:22:00Z how do I find out value of my property http://www.zillow.com/advice-thread/how-do-I-find-out-value-of-my-property/404084/ 5 replies Sun, 19 Jun 2011 22:04:00 GMT http://www.zillow.com/advice-thread/how-do-I-find-out-value-of-my-property/404084/ 2011-06-19T22:04:00Z any appraisers out here - difference between an appraisal for a condo vs. townhouse? http://www.zillow.com/advice-thread/any-appraisers-out-here-difference-between-an-appraisal-for-a-condo-vs-townhouse/372733/ Hi All,<br/><br/>Wonder if there are any apprisers or others "in the know" who can answer my question.<br/><br/>My home is on the street with many condo buildings - so, lots of comps....however, almost all the nearby comps are for the condos, while my place is a two story townhouse, with garage underneath the living room and separate door facing the street. &nbsp;Do you think it will appraise along the same lines as condo sales around us? &nbsp;what what be approximate markup, if any - say, average price is around $220 per sq. ft....will townhouse appraise for $230, 240, 250? same?<br/><br/>the address for the property is:<br/><br/>4664 Willis Avenue,&nbsp;Sherman&nbsp;Oaks, ca 91403.<br/><br/>Thanks!<br/><br/>VK<br/><br/><br/><br \><br \>14 replies Tue, 26 Oct 2010 19:06:00 GMT http://www.zillow.com/advice-thread/any-appraisers-out-here-difference-between-an-appraisal-for-a-condo-vs-townhouse/372733/ 2010-10-26T19:06:00Z Refinance Rental Property - Are lenders willing? http://www.zillow.com/advice-thread/Refinance-Rental-Property-Are-lenders-willing/231894/ My husband owns a home that he bought before we got married. This was his primary residence at the time, but it is too far away for our daily commutes. We tried to sell the home, but weren't able to due to market conditions. We are renting it out now at a loss of about $200 per month, and would like to refinance, as the <a href="http://www.zillow.com/Mortgage_Rates/">interest rate</a> on the 30 year <a href="http://www.zillow.com/mortgage/">loan</a> is 6.5%. Based on our research trying to get quotes from lenders online and through Zillow, it seems like no one is willing to <a href="http://www.zillow.com/refinance/">refinance</a> a rental property. Am I getting the wrong impression? Are there any willing and reputable lenders out there? If so, who are they?<br/><br/>Thanks in advance!<br \><br \>5 replies Wed, 06 May 2009 16:53:00 GMT http://www.zillow.com/advice-thread/Refinance-Rental-Property-Are-lenders-willing/231894/ 2009-05-06T16:53:00Z royal united mortgage, indianapolis, IN http://www.zillow.com/advice-thread/royal-united-mortgage-indianapolis-IN/323481/ hello, all --<br/><br/>has anyone ever done business with this company?&nbsp; are they reliable?&nbsp; i have been dealing with a <a href="http://www.zillow.com/mortgage/">loan</a> officer named steve shay.<br/><br/>thanks -- susie margaret<br/><br \><br \>6 replies Wed, 10 Feb 2010 21:38:00 GMT http://www.zillow.com/advice-thread/royal-united-mortgage-indianapolis-IN/323481/ 2010-02-10T21:38:00Z Rental Property Refiance http://www.zillow.com/advice-thread/Rental-Property-Refiance/513486/ I have a few properties that I have rented out, some newly rented some with payment history.&nbsp; All the property has no mortgage, all paid with cash at auction.&nbsp; I want to take loan out for these property.&nbsp; Is refinancing/loan possible?&nbsp; If so please direct me to the correct lender to talk&nbsp; to.&nbsp; Thank a bunch in advance.<br \><br \>4 replies Mon, 30 Sep 2013 02:52:00 GMT http://www.zillow.com/advice-thread/Rental-Property-Refiance/513486/ 2013-09-30T02:52:00Z Current 1st and 2nd = 90% LTV. Refi 1st or both into ARM possible? http://www.zillow.com/advice-thread/Current-1st-and-2nd-90-LTV-Refi-1st-or-both-into-ARM-possible/517153/ Primary SFH, my First is a 30 year with good rate, 75% LTV and approx. $472k, so over conforming.&nbsp; The 2nd is a Heloc approx. $94k.&nbsp; This current set up was a refi this year from a full 203k we used to buy and renovate the house.&nbsp; Assume appraisal at $630k and credit 700-720, can I either:<br/>A) refi just the first into a 7/1 arm?&nbsp; So far I have been told no due to overall LTV.<br/>B) refi both into a 90% LTV arm?&nbsp; Have heard no because of previous Heloc refi. <br/><br/>Thanks for any thoughts!<br \><br \>7 replies Tue, 29 Oct 2013 15:04:00 GMT http://www.zillow.com/advice-thread/Current-1st-and-2nd-90-LTV-Refi-1st-or-both-into-ARM-possible/517153/ 2013-10-29T15:04:00Z Refinance options for underwater loans after June 2009 http://www.zillow.com/advice-thread/Refinance-options-for-underwater-loans-after-June-2009/458917/ I'd like to lower the monthly payments on my home mortgage. I'm currently about 110% underwater.<br/><br/>Home Value - 270ish<br/>Owe: 291<br/>Total Loan amount: 310<br/><br/>The loan went to Freddie on July of 2009, so i don't think i can get HARP 2.0 (has anyone had success getting an HARP loan after june 2009?. Do i have any options to take advantage of current rates being at +100% LTV?<br \><br \>8 replies Fri, 07 Sep 2012 01:21:00 GMT http://www.zillow.com/advice-thread/Refinance-options-for-underwater-loans-after-June-2009/458917/ 2012-09-07T01:21:00Z Should I apply for HARP loan at this moment? http://www.zillow.com/advice-thread/Should-I-apply-for-HARP-loan-at-this-moment/517915/ I am in the process of purchasing another home as my primary residence. I currently live in a townhome which is presently underwater. &nbsp;I qualify for a HARP loan. &nbsp;I have not gone to closing on the other home that is being built. It should be finished by February of next year. &nbsp;The underwriting process should be done in a week or so. &nbsp;My question is, is it a good idea to proceed with applying for a HARP loan to decrease my interest rate or should I wait until after I go to closing on the home that's being built?<br \><br \>1 reply Mon, 04 Nov 2013 21:29:00 GMT http://www.zillow.com/advice-thread/Should-I-apply-for-HARP-loan-at-this-moment/517915/ 2013-11-04T21:29:00Z When is it the right time to refinace? http://www.zillow.com/advice-thread/When-is-it-the-right-time-to-refinace/517340/ Most people put off refinancing until its ultimately to late.&nbsp; The reasoning usually is along the lines of not knowing how much it cost, thinking their house is upside down, or being afraid or embarrassed that they wont qualify.&nbsp;&nbsp; The bottom line is a simple phone call to a local mortgage professional could wind up saving you thousands of dollars.&nbsp; The worst possible thing that can happen is being turned down. Just some food for thought if you are still on the fence about refinancing.<br \><br \>7 replies Wed, 30 Oct 2013 20:13:00 GMT http://www.zillow.com/advice-thread/When-is-it-the-right-time-to-refinace/517340/ 2013-10-30T20:13:00Z Looking for a lender for a Freddie HARP in Hawaii http://www.zillow.com/advice-thread/Looking-for-a-lender-for-a-Freddie-HARP-in-Hawaii/517359/ Borrower is having issues with Chase and cannot get a straight answer why they are kicking the loan back and will not send them the LP findings.&nbsp;We are not licensed any longer in the state.<br \><br \>5 replies Wed, 30 Oct 2013 22:52:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-lender-for-a-Freddie-HARP-in-Hawaii/517359/ 2013-10-30T22:52:00Z Roundpoint mortgage - DO NOT USE THIS Mortgage company http://www.zillow.com/advice-thread/Roundpoint-mortgage-DO-NOT-USE-THIS-Mortgage-company/517052/ after weeks of my time and providing a paper trail for this "company" they took my money but did not tell me upfront that I needed cash reserve at my disposal. No I don't have a large cash reserve because I pay my bills. THEY TOOK 800.00 OF MY MONEY JUST TO TELL ME SEVERAL WEEKS LATER THEY CANNOT GIVE ME A LOAN. WTF<br \><br \>3 replies Mon, 28 Oct 2013 20:37:00 GMT http://www.zillow.com/advice-thread/Roundpoint-mortgage-DO-NOT-USE-THIS-Mortgage-company/517052/ 2013-10-28T20:37:00Z