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Home »  Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: FL, $262,500, 720, 100% LTV, Refinance (Rate and Term)

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Post Statistics: 382 Views, 1 Replies
Latest Post: Mon, Sep 21 2009 11:48 PM by steve rogers
  		• Mon, Sep 21 2009 10:02 AM
    Loan Scenario: FL, $262,500, 720, 100% LTV, Refinance (Rate and Term)
    Loan Scenario
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    Loan State: Florida
    Loan County: Brevard
    Loan Type: Refinance (Rate and Term)
    Loan Amount: $262,500
    Property Value: $262,500
    LTV: 100%
    FICO: 720
    DTI: 31
    Occupancy Type: Owner-Occupied
    Property Type: Single Family Residence

    This hous is under the market value.  We need to reduce the loan amount at market value.  full doc and always pay on time Indifferent  Original loan amount balance  314,657.50
    elba valentine
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    elbavalentine
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  • In Reply to This Post
    		 Mon, Sep 21 2009 11:48 PM

    A loan modification would go through current lender. Generally need to show need for lower payment etc...

    refinance by paying down loan balance to value of home? possible if the current mortgage is owned by fannie or freddie... might be able to refi without paying down all the way... options at 105 and 125% of value do exist...

    you need to provide a more thorough question and goal
    steve rogers
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    steve rogers
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