Non Fannie Mae or Freddie Mac Loan Refi Question
Im a Loan Officer in Los Angeles County. I have a client that is in need of a refinance loan. My clients loan is a conventional but neither fannie mae or freddie mac own the loan. SO they cannot qualify for those special govt programs because the loan is not serviced through those two instituations. Yes, the client can qualify for a FHA or regular Conv but we do not want to pay for MI. Is there a program that will do this loan without MI? by betteybaker from Wellsburg, West Virginia. Jun 7th 2011
Sales Manager Matthew Boyce (bestlender)
#8 ranked lender in New Jersey - 19 contributions
Ummm. Did ya try running through DU and AUS? 97% LTV is going to be your max WITH MI even if you qualified through DU Refi Plus, etc. because the MI companies won't allow higher LTV. This is a question for your underwriter. Worst case is they suck it up and pay the MI. FHA rates will be much better anyway plus they can write off the MI payments. Good luck!
Gianni Cerretani (mortgagegodfather)
#32 ranked lender in Georgia - 238 contributions
Are you 100% sure it is not owned by fannie or freddie??? Did you check on ther websites?
Chris Gummerson (cgummerson11)
#397 ranked lender in California - 648 contributions
What is the LTV you are trying to obtain?
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