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HARP 2 on investment property (condo) in Virginia. Fannie Mae loan, LTV > 125%, with PMI.

Basically, I am running into a brick wall trying to do a HARP 2 loan on an investment property (condo) in Virginia. It meets all the qualifications of HARP 2 (Fannie Mae, taken out in 2006, no late payments ). The issue I am having is the LTV. The LTV is over 125% and the original loan has PMI on it as well.The current servicer is Nationstar Mortgage, and they have offered a HARP 2 refiance, but the fees seem unreasonable to me. Any suggestions, or should I just go with Nationstar? by buysel_602_260 from Virginia Beach, Virginia. Jul 12th 2012 Reply


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

There are lots of lenders out there doing HARP 2.0 >125% Loans.. you just have to look.. Click on the link "Find a Lender" above.. type in your zip code and you will see a list of brokers within your area, and start calling.. 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

Jul 12th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

People, people, people. How many times do I have to say it. DO NOT, DO NOT, DO NOT start with your current bank. They should be your lender of last resort. Remember, these are the folks that have been bleeding you dry over the years and are only now "trying to help" because the FEDS have forced them to. Find a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of MANY lenders, not just those of one bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Jul 12th 2012
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Joyce Ettingoff (speedlad)
#34 ranked lender in Maryland - 68 contributions

WE are highly competitive and can proceed with reasonable fees or perhaps none at all to you. We have unlimited LTV products for HARP 2. Call us 301 915 5644

Jul 12th 2012
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Proficio Bank- Ask for Eric Beans- 407-373-3775...he's the best I've worked with.

Dec 24th 2012
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