Can I refinance a home at 100% LTV if its not Freddie or Fannie?

The important question is what is the basis of the figure for your value? Did you get an appraisal? You may qualify for a USDA loan, or your value may be higher in which case you might be able to get an FHA loan at 97.5% of the value. If you'd like to contact me directly we can discuss some options that may make sense and even get you into a FHLMC or FNMA loan. Richard Glover 800 365 3539

If your existing loan is not USDA, then the highest LTV loan available to you would be an FHA Insured Home Loan. Be advised that any savings that you think you will benefit from a lower interest rate will be substantially offset by the higher FHA mortgage insurance. Any further questions, please ask.

Hi there, thanks for the question and listing your scenario. The correct answer depends on a couple of factors. By the reference to Fannie or Freddie if you're referring to the HARP program the short answer is - no. In order to qualify for that program, which enables you to refinance regardless of the value of the property - the loan must be owned by Fannie or Freddie and they must have bought it on or before March 31, 2009. You can check if either owns it @ http://www.fanniemae.com/loanlookup and https://ww3.freddiemac.com/corporate respectively. If the property is in a USDA rural area you might qualify for a USDA loan or if you or your spouse (if married) is a veteran you might qualify for a VA loan which both have a 100%ltv limit -- otherwise you can't without paying down your mortgage. I would still like to chat about it further since its important to have the right mortgage expert review every possible option and help you plan ahead. Thanks -- Sam at sam@silvercreekfinance.com

The correct answer is an FHA rate/term refi may be able to help. FHA will finance up to 97.75% of the value of your home so if you owe $194,000, your home would need to appraise for at least $199000. This would require you to pay your costs out of pocket unless the home appraised for more, then you could roll them in. Rates on 30 year fixed FHA loans are currently below 4%. Call me to discuss. Our office is in the Quad Cities & I know appraisers in Springfield. 563-324-9937.

Look into a Freddie Mac Relief Refinance. http://www.freddiemac.com/singlefamily/makinghomeaffordable.html

The short answer is yes... Other factors are invlolved, but based on the limited information you provided, you can. Another question is does yoru home qualify?? Contact a local mortgage broker, not a bank, and have them look into your scenario. If your mortgage is owned by Fannie or Freddie, then it will qualify.. WilliamAcres.com