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Home »  Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: NM, $310,000, 743, 97% LTV, Refinance (Rate and Term)

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Post Statistics: 458 Views, 1 Replies
Latest Post: Wed, Oct 21 2009 9:35 PM by Jill Statz
  		• Wed, Oct 21 2009 6:23 PM
    Loan Scenario: NM, $310,000, 743, 97% LTV, Refinance (Rate and Term)
    Loan Scenario
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    Loan State: New Mexico
    Loan County: Santa Fe
    Loan Type: Refinance (Rate and Term)
    Loan Amount: $310,000
    Property Value: $320,000
    LTV: 97%
    FICO: 743
    DTI: 24
    Occupancy Type: Owner-Occupied
    Property Type: Single Family Residence

    This borrower received DU Plus refi findings through DO. The findings state that this loan will require MI. Does anyone know who can do this loan with an LTV of 97% with MI?
    Annette Alvarez
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    Annette1
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  • In Reply to This Post
    		 Wed, Oct 21 2009 9:35 PM

    If they currently have PMI on the loan and you go back through the same current servicer you should be fine with the mid score and the rate of the PMI should stay the same on the loan. 

    Jill Statz
     - View My Profile
    Loan Officer
    At Home Mortgage, LLC
    Become a Premium Member »
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