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Home »  Forums » Consumers - Questions, Answers, Help » Mortgage Questions » Looking to Refinance a Florida Condo

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Post Statistics: 829 Views, 1 Replies
Latest Post: Fri, Dec 31 2010 10:46 AM by Alan Craft
  		• Fri, Dec 31 2010 6:14 AM
    Looking to Refinance a Florida Condo

    I have a jumbo loan on a condo in Fort Walton Beach.   I am current on payments.  I owe $630k and it's current market value is down to $450k, I am paying 6.625% on the loan I took out in 2006.    I can reduce the principle to around $500k if that makes a difference.   This is in Okaloosa County in FL where the Jumbo Limit is $419k.    I would love to refinance if I can...the loan is with BofA currently.   My credit score is in the 800s.
    Fred Nagel
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    Fred Nagel
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  • In Reply to This Post
    		 Fri, Dec 31 2010 10:46 AM

    Fred,

     

    I am a Floroda broker and can tell you that in my experience, the maximim loan to value the you can find right now on a FL condo is 75%.  So, if appraised value came in at 450,000, the max loan you could get would be 337,500.
    Alan Craft
     - View My Profile
    Home Loan Consultant
    Integrity Home Loan
    alanc@inthomeloan.com
    (904) 493-1085
    Become a Premium Member »
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