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Can you refi with upside down home but no Freddie and Fannie?

by JoeDuggari from Grapevine, Texas. Jul 25th 2013 Reply


Joe Metzler (JoeMetzler)
#2 ranked lender in Minnesota - 3,712 contributions

Your loan options for refinancing an underwater home loan is if you have a Fannie Mae or Freddie Mac loan, an VA loan, an FHA loan, or a USDA loan. If you have a private loan, unfortunately, there are no current refinance options for upside down loans. www.HARP-refinance-mn.com

Jul 25th 2013
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,360 contributions

Yes.. FHA, VA, USDA all have streamlined refinance options without requiring an appraisal. Really, you should stop guessing... contact a local mortgage broker and let him look at your complete profile.. if there's a way to get you refinanced into a lower rate, he will find it.. 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

Jul 25th 2013
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Ken Graczak - NMLS 184394 (KenGraczak)
#30 ranked lender in Minnesota - 21 contributions

You can refinance if your current lender will do a short payoff. Not many lenders will do this, but you might get lucky. Call me if you want more information. 612-516-5626

Jul 25th 2013
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

Contact your present lender.

Jul 25th 2013
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Jason Vondrak (jvondrak)
#208 ranked lender in California - 1,741 contributions

If you currently have an upside FHA or VA loan you can look into a streamline refinance, which won't require an appraisal. Speak with your current lender to learn more about your current options.

Jul 25th 2013
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Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

You have few options, FHA, VA and USDA all have streamlined refinance options without requiring an appraisal. You can also check with your current lender and see if they have any loan modification options.

Jul 25th 2013
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