Although DU Refi Plus(TM) provides existing Fannie Mae mortgage loans substantially looser qualifications standards, the Fannie Mae refinancing program does have some guidelines that may restrict some homeowners.

DU REFI PLUS allows Loan-to-Values up to 105% LTV & 110% CLTV

( if you're not sure what any of this means - just call us: (203) 227-2422) - we will be happy to explain )

• Cash-out refinancing can be more than $2,000 or 2 percent of mortgage amount
• New subordinate financing is prohibited
• All existing subordinations must be re-subordinated.
• Paying off existing subordinate financing is not allowed (limited cash out)
• Adjustable-rate mortgage loans with fixed terms of less than five years will not be approved
• Interest-only mortgages are not eligible for the Fannie Mae refinancing program
• Balloon mortgages are not eligible for the program
• MyCommunityMortgage (MCM) mortgages are not eligible
• HomeStyle Renovation mortgages are will not be approved for refinancing