Need a 100% refinance in Las Vegas for $400,000.00
If you refinance a 30 year loan that has been paid on for 10 years does the new loan start over again at 30 years or does it continue from the 10 years already paid? We live in Las Vegas where the market sucks! We paid 398,000 for our house in 2003 and now they say it worth about the same. We pay all our bills on time and we have decent credit in the 700's and we both have worked for the Mandalay Bay since it opened, but since we went throught a non freddie or fannie lender everyone says we can get the best rates. Which makes no sense to me, because my in laws just bought 5 miles down the road and have a rate in the 3's and they just got out of school, make waaaaayy less and their credit is worse than ours. And some jerk of a loan office said if we sell and try to buy new which is for our size of a house is less by $100,000 to $150,000 we have to make both payments cuz future leases no longer count. I thought all these changes were supposed to help the people that did the right thing? Is there a lender that will reiinance or are we just hosed? by hotmam_337_155 from Las Vegas, Nevada. Oct 12th 2011
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions
are either of you a veteran???? miltary??? I do have some products that will allow me to loan up to 105%, some times up to 125%. What is your current rate now , and do you have one or two loans ??? YES , there has been a lot of changes, and most did not benifit anyone.. my email is lindaforloans@live.com
Michael Ivanov | Mortgage Loan Officer (GoToLoanGuru)
#3 ranked lender in Nevada - 17 contributions
To answer your first question a refinance is basically you re-purchasing your own house with a new loan and terms are based on the new loan. If it's a 30 year loan then you're in for another 30 years. I'm a direct lender and based on your information most important information I'll need to find out to help you will be: What is your existing loan balance? What is the value of the property?( I can do a neighbor market analysis to get a close idea as to what the value might be) This will allow me to calculate your loan to value. With this information I can tell you right off the bat if anything can actually be done. I am a local here in Las Vegas and my website is http://www.gotoloanguru.com
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions
call me at 602-330-1598 i am in the process of changing my website.. linda you answered me back , so you are not a vet, and your rate is high ..linda
Nathan Kessler (nathan.kessler@guaranteedrate.com)
#44 ranked lender in Nevada - 81 contributions
There is a possibility of getting a refinance done for you, but there are a lot of variables to consider, and I would need some more information. For free, we can find out if something can be done if you call me today. I am more than happy to explore all your options with you. Nathan Kessler 702-522-6745 City First Mortgage Services
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