HLS update: 105% REFI’s available now *NO mortgage insurance* FNMA

[HLS]

Everything with FNMA is based on an automated approval. The auto findings will determine if a borrower qualifies for this program, including confirming that the existing loan is a FNMA loan.

In most cases, somebody with at least 20% equity will be better off using a different loan, however there may be some cases that even with 20%+ equity it may be easier to qualify for the 105% program.

It’s all new, it’s still complicated. Freddy loans don’t qualify yet.
I’m getting more info each day.
Don’t assume anything about this program.

It’s a specific program that will allow some people to get a lower rate/payment.

This isn’t going to create a bubble. It’s not good for purchases…
Considering the alternative of higher foreclosures, as long as they don’t allow people to get out of the principal owed, what is wrong with allowing them to refi to a lower market rate & a lower monthly payment.
It’s better than throwing billions at AIG & Goldman Sachs so they can pay bonuses.

The credit score model is still the big factor in cost of a loan, even with this program.

Many people just want an affordable payment. They don’t care how much they owe or what it’s worth.
Welcome to America. This is how cars have been sold for many decades…..HLS

[HLS]

[quote=LarryTheRenter]HLS – can I refinance a rental property?? 328K loan (no second)..which is 60% LTV…A townhome if that matters….What are the rates assuming good FICO and income etc etc.????? Maybe 0 or 1 point….30 yr fixed preferably….[/quote]

Larry,
Depends on your specific situation. WIth 60% LTV, you may be better off in a different loan.
If you plan on keeping the loan for at least 3 years, it may pay you to buy the rate down to 4.375%, even on a rental.

Some condos/townhomes do not qualify for any loans todat. doesn’t matter what the LTV is. They can be bought for cash only. Not a pretty future for those complexes…
If you want to know what you might qualify for contact me directly [email protected]
my office is in Carlsbad…. HLS

[HLS]

[quote=LarryTheRenter]HLS – can I refinance a rental property?? 328K loan (no second)..which is 60% LTV…A townhome if that matters….What are the rates assuming good FICO and income etc etc.????? Maybe 0 or 1 point….30 yr fixed preferably….[/quote]

Larry,
Depends on your specific situation. WIth 60% LTV, you may be better off in a different loan.
If you plan on keeping the loan for at least 3 years, it may pay you to buy the rate down to 4.375%, even on a rental.

Some condos/townhomes do not qualify for any loans todat. doesn’t matter what the LTV is. They can be bought for cash only. Not a pretty future for those complexes…
If you want to know what you might qualify for contact me directly [email protected]
my office is in Carlsbad…. HLS

[HLS]

[quote=LarryTheRenter]HLS – can I refinance a rental property?? 328K loan (no second)..which is 60% LTV…A townhome if that matters….What are the rates assuming good FICO and income etc etc.????? Maybe 0 or 1 point….30 yr fixed preferably….[/quote]

Larry,
Depends on your specific situation. WIth 60% LTV, you may be better off in a different loan.
If you plan on keeping the loan for at least 3 years, it may pay you to buy the rate down to 4.375%, even on a rental.

Some condos/townhomes do not qualify for any loans todat. doesn’t matter what the LTV is. They can be bought for cash only. Not a pretty future for those complexes…
If you want to know what you might qualify for contact me directly [email protected]
my office is in Carlsbad…. HLS

[HLS]

[quote=LarryTheRenter]HLS – can I refinance a rental property?? 328K loan (no second)..which is 60% LTV…A townhome if that matters….What are the rates assuming good FICO and income etc etc.????? Maybe 0 or 1 point….30 yr fixed preferably….[/quote]

Larry,
Depends on your specific situation. WIth 60% LTV, you may be better off in a different loan.
If you plan on keeping the loan for at least 3 years, it may pay you to buy the rate down to 4.375%, even on a rental.

Some condos/townhomes do not qualify for any loans todat. doesn’t matter what the LTV is. They can be bought for cash only. Not a pretty future for those complexes…
If you want to know what you might qualify for contact me directly [email protected]
my office is in Carlsbad…. HLS

[HLS]

[quote=LarryTheRenter]HLS – can I refinance a rental property?? 328K loan (no second)..which is 60% LTV…A townhome if that matters….What are the rates assuming good FICO and income etc etc.????? Maybe 0 or 1 point….30 yr fixed preferably….[/quote]

Larry,
Depends on your specific situation. WIth 60% LTV, you may be better off in a different loan.
If you plan on keeping the loan for at least 3 years, it may pay you to buy the rate down to 4.375%, even on a rental.

Some condos/townhomes do not qualify for any loans todat. doesn’t matter what the LTV is. They can be bought for cash only. Not a pretty future for those complexes…
If you want to know what you might qualify for contact me directly [email protected]
my office is in Carlsbad…. HLS

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