Zillow Advice RSS: Question-Discussion-Guide,Refinance,Dearborn- MI http://www.zillow.com/advice/Dearborn-MI/mortgage-refinance/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate What can I do to get more (or better) quotes for my loan request ZR-TMHTPDK http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-TMHTPDK/454494/ <p>trying to do a HARP 2.0 refi...turned down by Quicken -- LTV too high (140%)...</p><br/><p>help...</p><br \><br \>3 replies Tue, 07 Aug 2012 20:03:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-TMHTPDK/454494/ 2012-08-07T20:03:00Z 80/15/5 Loan Refinance http://www.zillow.com/advice-thread/80-15-5-Loan-Refinance/407530/ Hello, I've read similar answers, but not exact matches to my situation.&nbsp; Here is my situation.&nbsp; I bought a house in August 2006 for $195,500.&nbsp; Details:<br/><br/>Down (5%): $9,775<br/><br/>80% mortgage (Freddie Mac - BOFA): 6.5% interest; original amt = $156,400; balance = $146,000<br/><br/>15% mortgage (Citimortgage): 8.675% interest; original amt = $29,325; balance = $25,500<br/><br/>So, I owe a combined $171,500.&nbsp; The house is in Dearborn, MI 48128.&nbsp; Values have dropped like a rock and foreclosures are everywhere.&nbsp; Honestly, I'd like to move and am contemplating buying a new house and renting the Dearborn house.&nbsp; However, I am paying $1,217/month for both mortgages plus escrow of $325/month.&nbsp; So, $1,542/month breakeven on the rental.&nbsp; So, the plan might be to refi and get as low a monthly payment as possible to make renting worthwhile.<br/><br/>Anyway, the question is: can I refinance the first (80%) loan and subordinate the 2nd loan?&nbsp; Is that my best option?&nbsp; I have not seen a house near mine sell for anywhere near $195,500, so there's no chance for an appraisal near that price.&nbsp; Other than that, the house in great condition.&nbsp; I've updated rooms, painted, added new fixtures--done everything I'm supposed to be doing.<br/><br/>I can put some cash down if I did refi, but cash is king right now and I'm not about to throw more money into this "investment."&nbsp; Let me also throw this out there: will putting a bit of cash down on the 2nd mortgage help get the subordination?<br/><br/>More details: I have zero debt otherwise.&nbsp; I have no car payments.&nbsp; I use one credit card which I pay the balance in full every month and my credit history is spotless.<br/><br/>I've tried to include every bit of info I could into this original post.<br/><br/>Thanks in advance...<br \><br \>12 replies Fri, 15 Jul 2011 15:31:00 GMT http://www.zillow.com/advice-thread/80-15-5-Loan-Refinance/407530/ 2011-07-15T15:31:00Z Refi on Rental properties http://www.zillow.com/advice-thread/Refi-on-Rental-properties/200246/ I have great credit and have been a landlord for over 25 years.&nbsp; I am interested in getting some cash out to take advantage of the low prices.&nbsp; Who can give me the <a href="http://www.zillow.com/Mortgage_Rates/">best rate</a> and make it easy for me to get moving?<br \><br \>0 replies Tue, 17 Feb 2009 13:04:00 GMT http://www.zillow.com/advice-thread/Refi-on-Rental-properties/200246/ 2009-02-17T13:04:00Z