Refinance help

I'd be happy to talk to you today about this. It seems you may have put 3.5% down on your property, which means your loan is FHA Insured in most cases and as such, you can use the Streamline Refinance Option to reduce your rate down in the 3's. You would need to make an application online to have your credit history pulled and meet certain credit score requirements. If the streamline is an option, you would not need to have an Appraisal or show any income documentation. Other options may exist, but more information is needed. Please contact me directly to go over some possible solutions for you to consider. Visit my profile for more details and many excellent blogs on various programs! I look forward to hearing from you very soon!

You can refinance into many programs ie FHA, Conventional. If your home value comes in at 165,000 and you have to borrower the full amount of the value, your only program at that point would be HARP (Home Affordable Refinance Program) I would take advantage of your options with a mortgage broker, they can run a decision engine through Direct Underwriting which will tell you if your capable of obtaining a HARP, this way when your appraisal comes back depending on the value you'll know what options you have.Good LuckMG

There's a lot of information missing.. Such as the type of loan you have now.. FHA, VA, USDA.. All have refinance options which will work today without an appraisal, so no equity is necessary.. If your loan is conventional, then you will not qualify for HARP since your loan was originated in 2010.. However if you have enough cash to pay down your mortgage, you can refinance.. But you should stop guessing.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower 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. 480-287-5714 WilliamAcres.com

As you already know, you can't use the HARP program because of the 5/31/2009 deadline. I'm not sure what program you currently have, but it would be worthwhile to explore FHA or even a conventional loan. It seems that you are not underwater, so you do indeed have options. I would be pleased to look at your scenario to determine if you can take advantage of the low rates. I am an Illinois licensed loan officer located in Schaumburg. barb.lanis@1amllc.com 1st Advantage Mortgage 630-660-8868

Please contact me to discuss the FHA Streamline Refinance in more detail as that will be your best option and quickest to process and close. We could close in February if we complete a full application ASAP. I look forward to hearing directly from you! Thank you.

FHA has a built in feature called the "streamline refinance".. Which allows you to take advantage of today's rates without an appraisal.. You can refinance.... you won't need an appraisal, you don't need equity, you don't need tax returns or w2's... very minimal paperwork is necessary.. as I suggested earlier.. contact a local broker and let him look at your complete scenario....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. 480-287-5714 WilliamAcres.com

FHA Streamline, simple and quick. You don't need an appraisal, so it doesn't matter what the current value is. 1st Advantage Mortgage, Schaumburg, IL barb.lanis@1amllc.com

More information will be needed to determine the best course of action for your situation. You should call a mortgage professional and find out what the best Mortgage Option is for you!

There are may options available for your scenario. Contact a local mortgage professional any they will be able to give you insight.

You could qualify for a Conv, FHA or VA loan. It will depend on what kind of loan you currently have. With FHA or VA you will not need an appraisal. You can can stop by my office, I am in East Dundee, or you can call me 224-420-9990.

You should take a look at refinancing to a lower rate and find out what cost of the monthly PMI would be if your LTV were higher than 80%. If its pretty close to what you are paying now, you should strongly consider pulling the trigger. The PMI wont be on the loan forever. Once you believe you outstanding loan balance to be less than 78% of the value of the home, you simply need to call the bank and ask them what their protocol is for having an appraisal done for purposed of eliminating your PMI. If the appraisal proves your LTV is below 78% they will have to drop the PMI and you will be left with a rate that will be in the 3's with no PMI.

You can do an FHA streamline refinance... No appraisal required. www.FHA-Streamline-Refiance-MN.com

I specialize in properties in Illinois. Please contact me off line by emailing or calling. I will be happy to go over all your options with you.

There are may options available for your scenario. Contact a local mortgage professional any they will be able to give you insight.