Forgotten Your Password?

Need to Register?

Question Icon

whats better for me to refinance? lowering rate

my home is on a fha 30year fixed and 6%. i want to refi for a lower rate - dont need any equity out, not looking to shorten the mortgage length. i know of the fha streamline but do i have any other or better options for 65% ltv and 711 fico?

by lorenzogotti78463810 from Seaside Heights, New Jersey. Dec 8th 2014 Reply


Len Herbert (LenHerbert)
#125 ranked lender in New Jersey - 10 contributions

Hello. A better option would be just to go with a conventional loan because you can then stop paying the mortgage insurance.

Dec 8th 2014
1
0
Michael Umbro (mumbro)
#116 ranked lender in New Jersey - 2 contributions

Based on an LTV of 65% and a 711 credit score you should be eligible for a conforming loan. You will need to prove your income to qualify as well.Please call me at 732 759 8189 x104 to discuss.Mike Umbro

Dec 8th 2014
1
0
Mark Wilkins (mwilkins)
#11 ranked lender in Pennsylvania - 7 contributions

Yes, with that LTV and credit score you will be best to do a conventional Rate and Term Refinance.

Dec 8th 2014
1
0
William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

Try a conventional loan.. with 65% LTV, you wont pay any monthly mortgage insurance, and there is no upfront MI required either.. Loans under $100K are difficult to do.. loans under $50K near impossible. A community bank / credit union is most likely your best option.. .. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Dec 8th 2014
1
0
Subscribe to our news feed.