Zillow Advice RSS: Question-Discussion-Guide,Refinance,MA http://www.zillow.com/advice/MA/mortgage-refinance/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate What mortgage program is best for me http://www.zillow.com/advice-thread/What-mortgage-program-is-best-for-me/233146/ I am currently unemployed. My <a href="http://www.zillow.com/mortgage/">mortgage</a> was through charter one bank who sold it to chase financial services.I am current on my mortgage and have excellent credit. Is there a goverment program which would benefit me?My rate is6% I have 23 years to pay on it.I also have savings and IRAS. Could i get the rate down to todays rates? I do receive unemployment and hope to be back to work soon. Not many jobs out there yet Thankyou for your advice ps I owe 116000 on the house the current value 220000<br \><br \>1 reply Sat, 09 May 2009 19:34:00 GMT http://www.zillow.com/advice-thread/What-mortgage-program-is-best-for-me/233146/ 2009-05-09T19:34:00Z Refinancing out of 203K loan http://www.zillow.com/advice-thread/Refinancing-out-of-203K-loan/505857/ You could refinance now if you wanted into a conventional loan. &nbsp;Your credit score is going to hinder the rate that you get. &nbsp;Depending on why that credit score is where it is at, you may want to wait. &nbsp;Important to talk with a mortgage professional and see your options. &nbsp;If you would like to contact me through my profile, I can put you in touch with someone in my group to help<br \><br \>0 replies Thu, 08 Aug 2013 16:23:00 GMT http://www.zillow.com/advice-thread/Refinancing-out-of-203K-loan/505857/ 2013-08-08T16:23:00Z I want to refinance my US investment property as a US citizen living abroad. http://www.zillow.com/advice-thread/I-want-to-refinance-my-US-investment-property-as-a-US-citizen-living-abroad/444097/ Hello, did you receive any assistance? I'm in the same situation, living and working abroad, and can't seem to get a re-finance on my mortgage. Thanks for your help!<br \><br \>0 replies Sun, 21 Jul 2013 16:07:00 GMT http://www.zillow.com/advice-thread/I-want-to-refinance-my-US-investment-property-as-a-US-citizen-living-abroad/444097/ 2013-07-21T16:07:00Z Fannie mae streamling with no MI... http://www.zillow.com/advice-thread/Fannie-mae-streamling-with-no-MI/241447/ Many are offering the program currently.&nbsp; The major wholesalers like Wells Fargo, have the program.&nbsp; <a href="http://www.zillow.com/directory/lenders/">Mortgage brokers</a> should be able to source others that offer the program.&nbsp; I have several in process, the best feature thus far is an appraisal waiver so that the <a href="http://www.zillow.com/mortgage-glossary/Borrower/">borrower</a> is relieved of absorbing another fee.&nbsp;<br \><br \>0 replies Wed, 03 Jun 2009 23:43:00 GMT http://www.zillow.com/advice-thread/Fannie-mae-streamling-with-no-MI/241447/ 2009-06-03T23:43:00Z should I refi with HELOC? http://www.zillow.com/advice-thread/should-I-refi-with-HELOC/182587/ I'm not a <a href="http://www.zillow.com/directory/lenders/">mortgage broker</a> but the numbers would indicate you'd be much better off.&nbsp; You might give this guy a holler:&nbsp; <strong><u><em>[Spam removed by Zillow moderator, see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a>]</em></u></strong><br \><br \>0 replies Tue, 30 Dec 2008 05:09:00 GMT http://www.zillow.com/advice-thread/should-I-refi-with-HELOC/182587/ 2008-12-30T05:09:00Z Should I pay $399 to refinance? http://www.zillow.com/advice-thread/Should-I-pay-399-to-refinance/357447/ Unfortunately you are at the mercy of the banks appraisers these days...Try mortgage.com and use the home value calculator or have you realtor do a comp search for you...Thanks<br \><br \>0 replies Mon, 12 Jul 2010 16:27:00 GMT http://www.zillow.com/advice-thread/Should-I-pay-399-to-refinance/357447/ 2010-07-12T16:27:00Z Why is My Community Mortgage not eligible for HARP? http://www.zillow.com/advice-thread/Why-is-My-Community-Mortgage-not-eligible-for-HARP/490619/ I was told by my servicer it is because it was sold by Fannie Mae to an MBS, is this the only reason? Are there any additional factors? The mortgage meets all the other requirements for HARP 2.0&nbsp;<br \><br \>14 replies Fri, 03 May 2013 01:57:00 GMT http://www.zillow.com/advice-thread/Why-is-My-Community-Mortgage-not-eligible-for-HARP/490619/ 2013-05-03T01:57:00Z What can I do to get more (or better) quotes for my loan request ZR-KMWSYWJ http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-KMWSYWJ/412650/ You have to show the ability to payback the mortgage&nbsp;with income per month&nbsp;and if you are unable to show the ablity to make payments they are not going to refinance the mortgage at this time.&nbsp;&nbsp;You are still able to refinance rental properties but you have to look at your loan to value, income, credit, etc.<br \><br \>0 replies Mon, 22 Aug 2011 18:50:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-KMWSYWJ/412650/ 2011-08-22T18:50:00Z Why do I need PMI if I am refinancing less than 60% of the value of my home? http://www.zillow.com/advice-thread/Why-do-I-need-PMI-if-I-am-refinancing-less-than-60-of-the-value-of-my-home/309402/ You should not have PMI.&nbsp; Ask your <a href="http://www.zillow.com/directory/lenders/">lender</a> to explain.&nbsp; The only <a href="http://www.zillow.com/mortgage/">loan</a> type that would require <a href="http://www.zillow.com/mortgage/help/Private-Mortgage-Insurance.htm">mortgage insurance</a> would FHA, and FHA would not be the right kind of loan for your situation.<br \><br \>0 replies Mon, 28 Dec 2009 19:54:00 GMT http://www.zillow.com/advice-thread/Why-do-I-need-PMI-if-I-am-refinancing-less-than-60-of-the-value-of-my-home/309402/ 2009-12-28T19:54:00Z If I have a 5/1,5.85 mortgage. bal 255K and the appraisal vaule is 266K. how do I get a low fix 30 R http://www.zillow.com/advice-thread/If-I-have-a-5-1-5-85-mortgage-bal-255K-and-the-appraisal-vaule-is-266K-how-do-I-get-a-low-fix-30-R/216955/ <p>You may be eligible for the Making Home Affordable Program. Under this program, you must have either a Fannie Mae or a Freddie Mac mortgage.&nbsp;<br/><br/>To find out if you have a Freddie Mac mortgage, call toll-free 1-800-FREDDIE (8am to 8pm EST) or go online at <a href="https://ww3.freddiemac.com/corporate" rel="nofollow">https://ww3.freddiemac.com/corporate</a>.<br/><br/>To find out if you have a Fannie Mae mortgage, call toll-free 1-800-7FANNIE (8am to 8pm EST) or go online at <a href="http://loanlookup.fanniemae.com/loanlookup" rel="nofollow">http://loanlookup.fanniemae.com/loanlookup</a>.<br/><br/> To find out if you're eligible for the Making Home Affordable program, go to <a href="http://makinghomeaffordable.gov/" rel="nofollow">http://makinghomeaffordable.gov/</a>.<br/><br/> If you are not eligible for the Making Home Affordable Program, you may still be eligible for an FHA mortgage. Under FHA, you can refinance up to 97.75% of the value of the home.</p><br \><br \>0 replies Sun, 26 Apr 2009 13:06:00 GMT http://www.zillow.com/advice-thread/If-I-have-a-5-1-5-85-mortgage-bal-255K-and-the-appraisal-vaule-is-266K-how-do-I-get-a-low-fix-30-R/216955/ 2009-04-26T13:06:00Z Freddie Mac Open Access Making Home Affordable - With LPMI http://www.zillow.com/advice-thread/Freddie-Mac-Open-Access-Making-Home-Affordable-With-LPMI/305157/ Does anyone know if there are any <a href="http://www.zillow.com/directory/lenders/">lenders</a> out there that can <a href="http://www.zillow.com/refinance/">refinance</a> a <a href="http://www.zillow.com/mortgage/">mortgage</a> that has LPMI on it if they are not the servicer of the mortgage?&nbsp; There seems to be guidelines put in place for this but no lenders seem to be able to do it.&nbsp; I am currently stuck with a lender that does not participate in this program.<br \><br \>1 reply Wed, 09 Dec 2009 02:51:00 GMT http://www.zillow.com/advice-thread/Freddie-Mac-Open-Access-Making-Home-Affordable-With-LPMI/305157/ 2009-12-09T02:51:00Z Need lender to work with a HARP refinance. Wells Fargo loan with LPMI. Need someone with exp w/prog http://www.zillow.com/advice-thread/Need-lender-to-work-with-a-HARP-refinance-Wells-Fargo-loan-with-LPMI-Need-someone-with-exp-w-prog/246099/ I can answer this question as I have been focusing on helping people with this particular program. I actually just funded a HARP <a href="http://www.zillow.com/mortgage/">loan</a> two days ago with Wells Fargo.<br/><br/>The Freddie Mac Relief - Same Servicer program that has been going for a little while now does not allow <a href="http://www.zillow.com/mortgage/">loans</a> that currently have <a href="http://www.zillow.com/mortgage/help/Private-Mortgage-Insurance.htm">mortgage insurance</a> (be it lender or borrower paid). The new Freddie Mac Relief - Open Access program was officially open to funding as of today. According to Freddie Mac's guidelines this not only allows different servicers and loans up to 125% LTV but also the refinance of loans that currently have mortgage insurance.<br/><br/>My rep at Wells Fargo has informed me that they will NOT be participating in the Open Access program but I have heard from another source that they are offering it on the retail side (which would help you).<br/>I have another lender that is participating in the Open Access program but they will only refi loans with MI if they are currently the servicer.<br/><br/>So even though Freddie will buy these loans, the lenders are skeptical to offer them to the public and are tweaking the guidelines to make it a little more comfortable for them.<br/><br/>Try Wells again since Open Access was only initiated today (10/01/09) and if they can't help you, feel free to email me and we will stay in close contact until I find you a solution. I have two other clients in the same boat and am determined to find a lender that will perform.<br/><br/>Hope I was able to help you.<br/><br/>Dave Townsend | Sr. Loan Consultant<br/>Newport Capital Group<br/>[self-promotional post, removed by moderator]<br/><br \><br \>0 replies Fri, 02 Oct 2009 07:34:00 GMT http://www.zillow.com/advice-thread/Need-lender-to-work-with-a-HARP-refinance-Wells-Fargo-loan-with-LPMI-Need-someone-with-exp-w-prog/246099/ 2009-10-02T07:34:00Z What kind of expence should a person expect to pay to do a 197k refi 3-6% of the note? I have a 80 http://www.zillow.com/advice-thread/What-kind-of-expence-should-a-person-expect-to-pay-to-do-a-197k-refi-3-6-of-the-note-I-have-a-80/488702/ Nope I can I would issue a lender credit as well to cover most costs... Also depending on the date you opened the mortgage that will also affect the PMI %.&nbsp;<br \><br \>0 replies Sun, 21 Apr 2013 21:10:00 GMT http://www.zillow.com/advice-thread/What-kind-of-expence-should-a-person-expect-to-pay-to-do-a-197k-refi-3-6-of-the-note-I-have-a-80/488702/ 2013-04-21T21:10:00Z Can I get out of an appraisal? http://www.zillow.com/advice-thread/Can-I-get-out-of-an-appraisal/372710/ I am refinancing my mortgage, and the loan amount is about 1/3 of the value of the home.&nbsp; Also, we just moved there a year ago and had an appraisal done then.&nbsp;My mortgage company says I need an appraisal.&nbsp; Is&nbsp; there anyway to get out of it?&nbsp; It seems like a waste of money.<br \><br \>9 replies Tue, 26 Oct 2010 17:39:00 GMT http://www.zillow.com/advice-thread/Can-I-get-out-of-an-appraisal/372710/ 2010-10-26T17:39:00Z Looking to refinance 30 yr. to 4% no points/closing costs credit is a 8 score http://www.zillow.com/advice-thread/Looking-to-refinance-30-yr-to-4-no-points-closing-costs-credit-is-a-8-score/410927/ Watch rates carefully ,hopefully they will dip back down. I think you may have missed the boat for the time being. I would reccomend you contact David Kay MSA mortgage and talk to him about your options.<br \><br \>0 replies Sat, 03 Aug 2013 14:45:00 GMT http://www.zillow.com/advice-thread/Looking-to-refinance-30-yr-to-4-no-points-closing-costs-credit-is-a-8-score/410927/ 2013-08-03T14:45:00Z what should it cost me to do a streamline va refi. closing cost and points mortgage currently 410000 http://www.zillow.com/advice-thread/what-should-it-cost-me-to-do-a-streamline-va-refi-closing-cost-and-points-mortgage-currently-410000/301496/ <p>BOA WANTS TO CHARGE 3800 FOR CLOSING AND 8300 FOR POINTS. WE HAVE A GOOD CREDIT SCORE MY HUSBAND HAS 700-800 AND MINE IS 680-720 . WE CURRENTLY ARE AT 5.75 AND WOULD LIKE TO GO TO 5.75-5.875</p><br \><br \>14 replies Wed, 25 Nov 2009 15:19:00 GMT http://www.zillow.com/advice-thread/what-should-it-cost-me-to-do-a-streamline-va-refi-closing-cost-and-points-mortgage-currently-410000/301496/ 2009-11-25T15:19:00Z I own a condo in Boston Ma. with 9 units and only 3 owner occupied. I am trying to refinance my loa http://www.zillow.com/advice-thread/I-own-a-condo-in-Boston-Ma-with-9-units-and-only-3-owner-occupied-I-am-trying-to-refinance-my-loa/495465/ Is your condo owner occupied? If so you may be able to obtain a mortgage but will require an exception.<br \><br \>0 replies Fri, 07 Jun 2013 13:35:00 GMT http://www.zillow.com/advice-thread/I-own-a-condo-in-Boston-Ma-with-9-units-and-only-3-owner-occupied-I-am-trying-to-refinance-my-loa/495465/ 2013-06-07T13:35:00Z Refi Options for Lender Paid PMI Mortgage - Bank of America is stonewalling me http://www.zillow.com/advice-thread/Refi-Options-for-Lender-Paid-PMI-Mortgage-Bank-of-America-is-stonewalling-me/431582/ I have a loan with Bank of America currently and I am trying to refi under the harp program.&nbsp; BOA says that because the loan is Lender paid PMI I cannot refi. The loan is a fannie mae, it is investor owned, non-owner occupied and has not been previously refied under HARP.&nbsp; I keep getting stonewalled by BOA, most recently they said there was no one that could speak with me for 60 to 90 days.&nbsp; I couldnt believe it.&nbsp; Does anyone know of any options for me to refi?&nbsp; The loan to value ratio on the house is probably around 110%.&nbsp; Please help!<br \><br \>18 replies Fri, 10 Feb 2012 23:50:00 GMT http://www.zillow.com/advice-thread/Refi-Options-for-Lender-Paid-PMI-Mortgage-Bank-of-America-is-stonewalling-me/431582/ 2012-02-10T23:50:00Z Can I refinance to lower rate if I used 2 loans to buy and now my home is 30,000 less in value ? http://www.zillow.com/advice-thread/Can-I-refinance-to-lower-rate-if-I-used-2-loans-to-buy-and-now-my-home-is-30-000-less-in-value/216195/ Yes - provided you have a Fannie Mae or Freddie Mac mortgage. Under the 'Making Home Affordable' program, you can refinance the 1st mortgage. The mortgagee of the 2nd mortgage must agree to subordinate their note to the new first mortgage.<br/><br/>If you don't have a a Fannie Mae or Freddie Mac mortgage, you can still refinance the first mortgage under FHA with the second subordinated to the new first mortgage.<br/><br/><p>To find out if you have a Freddie Mac mortgage, call toll-free 1-800-FREDDIE (8am to 8pm EST) or go online at <a href="https://ww3.freddiemac.com/corporate" rel="nofollow">https://ww3.freddiemac.com/corporate</a>.<?null xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?></p><br/><p>To find out if you have a Fannie Mae mortgage, call toll-free 1-800-7FANNIE (8am to 8pm EST) or go online at <a href="http://loanlookup.fanniemae.com/loanlookup" rel="nofollow">http://loanlookup.fanniemae.com/loanlookup</a>.</p><br/><p>To find out if you're eligible for the Making Home Affordable program, go to <a href="http://makinghomeaffordable.gov/" rel="nofollow">http://makinghomeaffordable.gov/</a>.</p><br \><br \>0 replies Sun, 26 Apr 2009 13:02:00 GMT http://www.zillow.com/advice-thread/Can-I-refinance-to-lower-rate-if-I-used-2-loans-to-buy-and-now-my-home-is-30-000-less-in-value/216195/ 2009-04-26T13:02:00Z I am in a situatition with Saxon Mortgage Services, Inc. Has anyone had any success dealing w/ them? http://www.zillow.com/advice-thread/I-am-in-a-situatition-with-Saxon-Mortgage-Services-Inc-Has-anyone-had-any-success-dealing-w-them/181650/ They keep giving me a run around and never contact me regarding my account. I'm supossed to hear from someone in the loss mitigation dept. I have another <a href="http://www.zillow.com/directory/lenders/">mortgage company</a> ready to help put me in a fixed <a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/">30 year mortgage</a> but they can't do anything until I am given a contact over at Saxon.<br \><br \>3 replies Sat, 27 Dec 2008 16:39:00 GMT http://www.zillow.com/advice-thread/I-am-in-a-situatition-with-Saxon-Mortgage-Services-Inc-Has-anyone-had-any-success-dealing-w-them/181650/ 2008-12-27T16:39:00Z