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Can I transfer LPMI when refinancing through HARP?

by LCarroll from Ellicott City, Maryland. Dec 10th 2012 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

Yes.. However, you will be converted to borrower paid, but the rate you would pay would be the same that your existing lender is paying.. The lender doing your refinance will need to allow for MI transfers, as some do not.. 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

Dec 10th 2012
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions

Normally yes, normally once we run your loan scenario and credit report through Fannie or Freddie's loan program it tells us what is required. Would you like some options to consider? pdumouchel@primelending.com or direct 843-619-6025. I do lend in Maryland

Dec 10th 2012
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If your existing loan had LPMI (lender paid mtg ins)....then yes, it is transferable.I have done a HARP refi recently where the borrower and I conferenced with MGIC.Loan closed as usual. You can call me if questions at 443-829-2210Scott Lucas

Dec 10th 2012
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