Refinancing on a 30yr loan without Harp?

There is a way to refinance, however I'm not sure there will be enough savings for you to make it worth your while. FHA will refinance at 97.75% LTV. However they will charge an upfront premium of 1.75% of the loan amount, and another 1.25% annual / monthly premium. If you're a Military Veteran, and you qualify for VA, you can do that and no monthly mortgage insurance is required.. Or, you can just stay put.. 4.75% is a pretty good rate... if rates are still this low next year, and your value increases, you might have enough equity to refinance then.. 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

There are a couple of key pieces of information missing to give you an accurate answer. Do you have PMI on your current loan? Do you have some funds that you could dip into do lower the LTV to 95%? What's your DTI? I'd be happy to do an actual analysis for you so you can see what your options are. I'm in Chandler, but Nova is Headquartered in Tucson. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

There are lenders out there that will refinance you at 97% on a conventional but not sure in AZ. You would have to pay your closing costs out of pocket to not raise the LTV. I doubt it would be worth it for you because the rate would probably be around 3.875% and you would be paying monthly mortgage insurance, not sure if you are currently paying that. If you are still interested I would contact mortgage brokers in AZ not retail banks and see if any of them have a lender that will refinance 97% LTV. All the best!

I would definitely advise looking at FHA as an option as rates are closer to 3.25% and even with mortgage insurance premiums, it will render a lower payment for you.If you could clarify, the loan was insured before the 2009 date of HARP or your refinanced after that date?602-820-0881 or chat available at wjbonline.com

The way that I see it is that you have a couple of options. First, just because one appraiser put that value on it does not mean that another appraiser couldn't come back with something better. I have ordered 2nd appraisals when I didn't think the 1st was well done and had $30K plus improvements. You should also be able to get at least 1% lower in interest rate. At the end of the day if your appraisal comes in at the same price an FHA loan is worth looking at with the rate reduction.

hello JJ BLAKE, i am also from AZ .. Rates did go down today, so that is great news! if you want, send my your address to my email and i will do a complete property analysis for you , before you spend money on a new appraisal.. and I also have a website that appraisers pull comps from also.. remember, a appraisal is also subject to the appraiser, and it depends on how much research they did for comps my email is yourloanpartnerforlife@live.com linda

sounds like you can do an FHA refi or you could pay down your principal so that your LTV is 95% then you could refi conventional with PMI. based of the info, not sure if either is beneficial to you if are not currently paying PMI. Have an AZ loan officer from this forum help you out with an analysis. Good Luck!