Hello, Here is my situation, I got divorced about a year ago and I need to refi my house.
I want to change the rate becasue it is high and I think i can get better.The loan 80/20: owe 229k on the first owe 99k on second My house is worth about 310k right now. I have about 30k in cash but I am not sure what my options are. Any ideas? I would really appreciate any insight!! by sam2112 from , . Jul 25th 2009
Debra Clark (Debra Clark)
#146 ranked lender in California - 42 contributions
Well the days of getting 100% financing (specially on a REFI) are over. It seems as if your option is to pay down some of the loan you need with your cash (if you pay 30K that is almost 10% of your total loan amount and would make your loan a 90% LTV).At that ration, you will still have a tough time finding a lender, but there are some out there if you have income and good credit. Having said so, you must just look for a lender, get their best rate and see if that would still make sense to REFI. Good luck.
Nikitas Kouimanis (MrMortgage)
#7 ranked lender in New York - 118 contributions
contact me Nikitas Kouimanis Mortgage BankerTrump Financial550 Old Country Road Hicksville NY 11801Office: 516-942-8700Cell:646-957-3346 Fax:866-379-0685 Email:nkouimanis@trumpfinancial.comWeb:www.trumpfinancial.com
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