Refinancing my home in the bay area (California)

There is a lot of information missing to property answer but based on your question, you can refinance, you must have a minimum of 20%, and you will be assessed at the "Investor" rates, rather than owner occupied rates.. best thing to do is shop for a local mortgage broker, not a BANK... they have access to a vast number of lenders who can help find the right product for your particular scenario.. WilliamAcres.com

Really depends on your equity position. Need all the pieces of the puzzle but definitely better off refinancing into a lower rate. The challenge will be if your current loan is a JUMBO, there are less options as an investment. Drop me line to discuss. loanswitheddie@gmail.com

You may want to call loan servicer and ask about requirements to get rid of PMI. If you do have 20% equity in the home, then the servicer may require a full appraisal to be done to verify home value. This could be a simple way of reducing monthly payment without having to refinance loan. Or, you can attempt to refinance into a lower rate and get rid of PMI but property will have to be treated as an investment product ( improve rate by lowering it to 4.875% ). Aaron ( 888) 760-8383 Ext-226

that would make your loan amount 656250, which would now fall into the jumbo category, not the fannie mae high balance, so your rate on a 30 year fixed would be around 4.875% on a 30 year fixed. You might be better off looking at a jumbo 5/1 ARM

the best solution for this issue is to contact at least 3 lenders to determine what rate and fees would be involved to refinance the property. I can confidently assume that the monthly mortgage insurance is substantial enough to warrant a refinance, due to the historically low rates. Any lender should be able to also feel confident on what the appraised value of the home shoud be. You dont want to pay for an appraisal that will not support the necessary loan to value to complete the refinance.Any loan to value over 80% will once again require mortgage insurance coverage unless you bring in the difference.

As indicated before there are some missing info to there if you would like to please call us we can give you your options with no obligation at you side ......Short...... yes you can refi. and the fact that you do get rid of MIP will put you ahead of the game regardless! You can reach me at 1-714-639-6694 or my toll free number: 1-800-909-3992My email: skavandi@americanselectfunding.comI look forarwd assiting you with your refi :) My best,Shab at American selectfunding

As indicate before there are lots of info missing here to give you an acurate answer however the short answer is yes! You can refi without PMI and the fact that you do have 20% equity right now you can get rid of MPI which will save you lots of money regardless! You can call me foryour free and no obligation consulting at: 714-639-6694 or my toll free number: 1-800-909-3992I look forad assistingyou with your refi :) ShabMy email address is: skavandi@americanselectfunding.com

Many questions need to be answered in order to provide you with specific options. (as indicated by most responders) As a national bank with the ability to utilize other banks programs as a broker when appropriate, we can offer the best of both worlds. Based on the information provided I may have a few programs that would fit you well. If not, If I don't have the best program for you, I can certainly point you in the right direction. Feel free to inquire if you wish.