Does Fannie Mae OR Freddie Mac Own Your Mortgage? If you are unsure, CLICK HERE.
THE MORTGAGE INDUSTRY HAS CHANGED!! SEE BELOW FOR PROGRAM GUIDELINES.
DO YOU WANT A LOWER PAYMENT AND/OR INTEREST RATE AND YOU ARE STUCK WITH ZERO EQUITY?? CHECK THIS OUT!!
These programs are not associated with the financial hardship program, a.k.a. The Homeowner Affordability & Stability Plan, that was announced by the Obama Administration, these are separate programs for on-time payers to get a lower interest rate and change their term if they wish.
Fannie Mae RefiPLUSTM
GUIDELINES
100% LTV with unlimited CLTV
Example: If you owe $200,000 on your 1st mortgage, and your house appraises at $200,000 we can get the deal done. That puts you at 100% Loan to Value (LTV). Unlimited CLTV means they forget about how much is owed on the 2nd mortgage!
Rate & Term Refinance Only, No Cash Out Options
You are unable to debt consolidate or pull cash out when refinancing through these programs. If you end up having equity once we get the appraisal we can do a conventional refinance and look at your options.
No Minimum FICO Score and No Maximum DTI
Zero 30 day lates on your mortgage payments.
Fixed Rate or ARM Loans.
$75.00 Appraisal Waivers
Yep...you might not even need an appraisal!
Original Loan Date prior to March 1, 2009.
We are able to roll all of the closing costs & pre-paid's into the principal balance for $0 down at closing.
Freddie Mac OpenAccessTM
GUIDELINES
100% LTV with unlimited CLTV
Example: If you owe $200,000 on your 1st mortgage, and your house appraises at $200,000 we can get the deal done. That puts you at 100% Loan to Value (LTV). Unlimited CLTV means they forget about how much is owed on the 2nd mortgage!
Rate & Term Refinance Only, No Cash Out Options
You are unable to debt consolidate or pull cash out when refinancing through these programs. If you end up having equity once we get the appraisal we can do a conventional refinance and look at your options.
No Minimum FICO Score and No Maximum DTI
Zero 30 day lates on your mortgage payments.
Fixed Rate loans only.
No Appraisal Waivers.
Original Loan Date prior to May 31, 2009.
Closing Costs & Pre-Paid's cannot exceed 4% of the unpaid principle balance or $5000, whichever is less.
APPLY ONLINE OR CONTACT US TO GET IN LINE FOR THIS EXCITING NEWS!
-TERMS-
LTV: Loan to Value, this is the amount of your 1st mortgage divided by the value of your home.
CLTV: Combined Loan to Value. Value of all mortgages (1st & 2nd mtg.) divided by the value of your home.
DTI: Debt to income ratio. Add all the minimum payments from your credit report for debt and divide that total by your income.
