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Viewing 11 posts - 1 through 11 (of 11 total)
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  • November 25, 2008 at 6:05 PM #14514
    detourbeach
    Participant

    I bought a home in SD around Aug. 1st for $301k, 10% down so my loan is for $270,900.

    My appraisal for my lender came in at $370k.

    Now, I am confused when I can refi and for how much? One lender told me I could refi now for the original loan amount. Another said I had to wait a year. Another said if I want to refi for cash out I have to wait for the 6 month mark.

    November 26, 2008 at 9:51 AM #309159
    bake
    Participant

    All of the above

    are correct detourbeach. If you do what we call a “rate and term” refinance, that is just to improve your interest rate, you can do it now. If you want cash out, Fannie Mae requires you wait 6 months, FHA requires 1 year.

    Please feel to contact me for more information:

    Dave Bacon
    Windsor Capital Mortgage
    619-280-3300

    [email protected]

    November 26, 2008 at 9:51 AM #309525
    bake
    Participant

    All of the above

    are correct detourbeach. If you do what we call a “rate and term” refinance, that is just to improve your interest rate, you can do it now. If you want cash out, Fannie Mae requires you wait 6 months, FHA requires 1 year.

    Please feel to contact me for more information:

    Dave Bacon
    Windsor Capital Mortgage
    619-280-3300

    [email protected]

    November 26, 2008 at 9:51 AM #309546
    bake
    Participant

    All of the above

    are correct detourbeach. If you do what we call a “rate and term” refinance, that is just to improve your interest rate, you can do it now. If you want cash out, Fannie Mae requires you wait 6 months, FHA requires 1 year.

    Please feel to contact me for more information:

    Dave Bacon
    Windsor Capital Mortgage
    619-280-3300

    [email protected]

    November 26, 2008 at 9:51 AM #309566
    bake
    Participant

    All of the above

    are correct detourbeach. If you do what we call a “rate and term” refinance, that is just to improve your interest rate, you can do it now. If you want cash out, Fannie Mae requires you wait 6 months, FHA requires 1 year.

    Please feel to contact me for more information:

    Dave Bacon
    Windsor Capital Mortgage
    619-280-3300

    [email protected]

    November 26, 2008 at 9:51 AM #309629
    bake
    Participant

    All of the above

    are correct detourbeach. If you do what we call a “rate and term” refinance, that is just to improve your interest rate, you can do it now. If you want cash out, Fannie Mae requires you wait 6 months, FHA requires 1 year.

    Please feel to contact me for more information:

    Dave Bacon
    Windsor Capital Mortgage
    619-280-3300

    [email protected]

    November 26, 2008 at 12:23 PM #309264
    peterb
    Participant

    You had a house that went up in value in 2008? Dont lollygag on the refi. Confirm that appraisal as well with believable comps.

    November 26, 2008 at 12:23 PM #309628
    peterb
    Participant

    You had a house that went up in value in 2008? Dont lollygag on the refi. Confirm that appraisal as well with believable comps.

    November 26, 2008 at 12:23 PM #309651
    peterb
    Participant

    You had a house that went up in value in 2008? Dont lollygag on the refi. Confirm that appraisal as well with believable comps.

    November 26, 2008 at 12:23 PM #309672
    peterb
    Participant

    You had a house that went up in value in 2008? Dont lollygag on the refi. Confirm that appraisal as well with believable comps.

    November 26, 2008 at 12:23 PM #309734
    peterb
    Participant

    You had a house that went up in value in 2008? Dont lollygag on the refi. Confirm that appraisal as well with believable comps.

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