I owe 1$180,468.14 on property with a real estate value of $271,200.00.O am currently on a contract for deed at 7% interest.

Assuming you meet eligibility requirements, you should get a much lower interest rate than the 7% your paying now.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

What type of property is it?

Where are you located?

You need to refinance this!!! We can likely get you approved in 15 minutes and have you clsoed within 30 days. Call me and we can talk over the details of your transaction.Matt BensonGold Star Mortgage333 N Washington Ave. Suite 101Minneapolis, MN 55401612-940-3394

You need to refinance this!!! We can likely get you approved in 15 minutes and have you closed in under 30 days. Call me and we can talk over the details of your transaction.Matt BensonGold Star Mortgage333 N Washington Ave. Suite 101Minneapolis, MN 55401612-940-3394

Good info and great equity position. The first question any LO/Banker should also ask is "are you a veteran?" Call, text, email or meet someone who is a local professional like William Acres said. There are plenty of guys/gals who are responding to you (including me) who've been in this industry for a long time who can help you out and get you qualified, approved and this property into your own name (read as: a real mortgage) in a short amount of time and at great rates. I'm a local Twin Cities Banker and if you want... I could help.