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Re-fi rental home w LTV less than 70%

I have a tenant occupied rental home in Las Vegas with a Freddie Mac loan, no PMI. Great community, and LTV is under 70%. Current lender will not re-fi. I want to take advantage of lower fixed intrest rates. Suggestions of lenders who may help?

by SteveB_784_170 from Las Vegas, Nevada. May 23rd 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,414 contributions

Your scenario is a no brainer.. Assuming you have sufficient credit and income to qualify, you can choose which ever program you want... HARP 2.0 will not require an appraisal, however you will pay a higher rate... but to be sure you need to compare several loan scenarios.. so, the best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet 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

May 23rd 2012
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Vatche Saatdjian (valleywest)
#4 ranked lender in Nevada - 7 contributions

Hi Steve, with the new HARP 2.0 sounds like its a very doable deal. Rates are very low. Please call us at Valley West Mortgage 702-696-9900 we are local on Tropicana / Rainbow.

May 23rd 2012
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Nicole Francis (NicoleF)
#427 ranked lender in California - 8 contributions

I can help you through my banking channel. We bank HARP 2.0 files without an LTV limit in your area. Please give me a call at 775-846-1839!

May 23rd 2012
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Al McGhee (Al.McGhee)
#534 ranked lender in California - 18 contributions

SecurityNational Mortgage

May 23rd 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

I can do your harp investment, and I do not have all of the bank overlays to deal with.. What is the size of your loan?? 602-330-1598 linda

May 23rd 2012
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Robert Le (robert_le)
#615 ranked lender in California - 36 contributions

You do not need HARP 2.0 if you LTV is less 80%. For investment property, the interest rate is higher. And most lenders require the LTV for investment property to be 75% or else the interest is very high. You should shop around to get the best rates. I recommend doing a NO COST/NO FEE loan. If rates does lower, then you can refinance NO COST/NO FEE again..Shop at many mortgage companies. Do not let them run your credit too much. 1 credit run and ask them for a copy. You can show that to the next mortgage company you apply for. It does not cost you anything to submit a loan application. When the rates is right, then you can lock the rate.

May 23rd 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,815 contributions

HARP 2.0 is your answer. The new loan will not hv MI if the current one doesn't, and teh fact tht you are not upside down is not an issue. Contact a local Mortgage Banker /Broker. DON'T use one of the big banks, DON'T use one of the big national Mortgage factories, and DON'T use the people you are currently making payments to.Instead, use US. We are Licensed in Nevada. Give me a call and I'll hook you up.~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

May 24th 2012
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