Can I find a lender to give me a loan refi at 87% without PIM?

I'm assuming you're referring to MI or "mortgage insurance" and what most people don't want is "expensive mortgage insurance". There are different types of MI and a good mortgage broker or correspondent lender will have options for all 4 types (5 if you include split). I'm licensed in MN and WI and can show you the difference. drop me a line at... Steve@iLoanHomeMortgage.com

VA financing will allow you to refinance without paying mortgage insurance.. But you have to be VA eligible to qualify... outside of HARP and VA.. There is no other conforming product out there where you would not pay MI if your loan to value is above 80%.. You state that you're at 87%, but unless that has been verified by an appraisal, it's just a guess.. Most folks in WI use the tax assessment to guess their value (I have a vacation home in Eau Claire), however tax assessment don't take the place of a full written appraisal. It's possible you do have 20% equity and you wouldn't need to pay any form of mortgage insurance... so if it turns out that you truly are at 87%, then you could opt for upfront MI.. Where you pay a premium one time up front and your done.. There are other types such as lender paid or split premium.. All which will be lower than borrower paid monthly... Also, when it comes to credit scores, the score that you pull for free or through a service will be different than the score a mortgage company will pull. No doubt Quicken loans sucks, but they might not have been wrong about your credit score.. When a mortgage company runs your credit, the score reflects the likelihood of you defaulting on a mortgage.. Likewise, if you apply for a credit card, the score will reflect the likelihood of you defaulting on your credit card payments.. The scoring model is different for both.. if you run your "Free Credit Score" online, it uses a totally different scoring model and wont reflect the same scores a mortgage company will pull. The best advice I can give you is apply with a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders (Quicken Loans, etc). 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

Unless you get a VA loan, you are going to have to deal with mortgage insurance somehow if you are over 80% of today's value. There are different options that a good Loan Officer can present to you besides standard monthly mortgage insurance. One option is called single premium. Another option is to get a non-Fannie or Freddie loan that doesn't require PMI at all. Sounds great, but the rates are higher. I am in St Paul, and I am licensed in WI. Learn more at www.MNBestRates.com

are you a veteran?? that is one way, and send me your address, to check out your home value... if quicken gave you the ltv, i would double check it send me your address to yourloanpartnerforlife@live.com and i will do a free property analysis for you linda

Hey there - I hope you are dry after last night's storm! There's a lot going on here. Please call me at 262-293-5144 (or 800-627-1925, Option 1, Extension 5144) to discuss this in a no cost, no obligation setting. My office is in WI and I would love to help. Check out my past client recommendations at http://www.CloseWithMichael.com/recs and let's do this. As noted in other posts, there are several different ways to insure a mortgage. They are briefly explained on my blog at http://www.closewithmichael.com/2012/04/conventional-pmi-options/. Thanks, -Michael Michael Creed Sales Manager & Senior Loan Officer Envoy Mortgage, Ltd. 800-627-1925, Option 1, Extension 5144 | Toll Free 262-293-5144 | Direct 262-293-5145 | eFax 262-696-9048 | Text Messaging 50441 | NMLS ID200 S Executive Dr; Suite 101Brookfield, WI 53005Corporate NMLS # 6666

Yes you can get the loan your after. We can go up to 87% of the value with no monthly PMI added to your payment. The interest rate gets adjusted, but you can still see the savings your looking for. I would be happy to get you an estimate and review your credit scores.Call me at (920) 391-4234 in Green Bay or go online to www.landmarkmort.com for an application.

If you were a Veteran and qualified for a VA loan there would not be any PMI with you loan. If you are in a conventional loan with PMI, there would not be a way the value can be given without having an appraisal done. If the value is at 80% LTV then there would not be any PMI, if there would be a need for PMI, there are programs that do not have the monthly PMI but you will pay a higher interest rate, which is something I do not think you want if you are looking to lower your rate. I am a loan officer in Wisconsin and if I can be of assistance to you, please give me a call...920-410-2646...thanks Pam

Portfolio lenders like US BANK can do without PMI. but they do not typically offer rates as low as other lenders. You can also have a single premium mortgage insurance "built into your rate". Good Luck!

You can get Lender Paid Mortgage insurance, your rate would be slightly higher than the "par" rate. I wouldn't really recommend it because you will be paying that higher rate for the duration of the loan. If you take the loan with the monthly mortgage insurance, the PMI will eventually drop off and you will have the benefit of the lower rate for the duration of your loan. You can also get a VA loan if you are a veteran and there is no PMI for those loans, however, they do charge an upfront fee in most cases which is very expensive.