Looking for a 90% LTV refi loan in VA
I have a 20 year int only from 2008 @ 6.27Current loan is 412k, recent appraisal 460K and price of property is rising (albeit slowly)Credit good: all three agencies show 720 -790. Income good and enough in savings to pay off the house.Not looking for cash just a lower payment and to be putting equity in propertyI want to bring little or no cash to closing as I plan to sell within 7 yearsNot eligible for HARP as not a Fannie or Freddie backed mortgageEligible for VA but it would be my second time (other is paid off) so fee would apply but if math makes sense I would consider it due to adding equity. by Fas550Fas550 from Herndon, Virginia. Jul 13th 2012
Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions
I think you will be hard pressed to get a lower payment switching from interest only to a 20 or 30 year fixed conventional. P & I alone at 3.75% for 30 yrs on $412k is over $1900/mo. then add in escrowed taxes and insurance your looking at about another $400 or so per month.
Lynn Bossi Kinsel (LynnKinsel)
#37 ranked lender in Virginia - 61 contributions
I can certainly help and I'm eligible to do VA loans if you want to go that route. Together we can explore all of your options. I'm licensed in VA, MD & DC and I work for a locally owned mortgage broker, Patriot Mortgage Corporation in Laurel, MD. Call me at your earliest convenience, Lynn Kinsel 804-677-8588.
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