Comments on: Refinance Loan Financial Solutions

By: nikkisix_26

nikkisix_26 — Sun, 26 Apr 2009 10:55:00 +0000

No you can't. But you might be able to refinance again.

By: Excellent Credit Service

Excellent Credit Service — Sat, 25 Apr 2009 16:30:31 +0000

Vanderbilt Mortgage refinanced my mobile home WITHOUT a foundation.

By: rita s

rita s — Thu, 23 Apr 2009 15:07:11 +0000

Sorry, you posted this twice, so I'm answering twice. I want to be sure that people down the road get the right information.

There is no one lender with the "lowest rates." We have many lenders that, depending on the situation, have the "lower" rate than the others. It just depends on your car and your finances.

Please note that Florida is enforcing a law that will make you pay sales taxes on your car again if you are refinancing to remove or add someone onto the loan (co-signer). Please just be aware of that as you are moving through the process.

I would start with a local credit union, but really, any one of the major auto refinance brokers are going to be talking to the same financers.

By: blueflamingo117

blueflamingo117 — Thu, 23 Apr 2009 13:59:53 +0000

By: Jules Z

Jules Z — Thu, 23 Apr 2009 11:23:07 +0000

This is not legal, it is contractual, with the mortgage company.

The mortgage company is not going to lend your father money for property he does not own. He will have to be on the deed.

By: Jason

Jason — Thu, 23 Apr 2009 07:11:14 +0000

4.875%-5.00% (on a 30 year mortgage) is about the lowest going rate right now. Alot is factored into that rate but that's what you're looking at for rate.

You can refinance up to 97.75% of the value of home.

hope this helps. Good luck.

By: don c

don c — Thu, 23 Apr 2009 05:42:09 +0000

It all depends on the difference in the value of the place and the amount owed on the loan – that is what's considered your equity. Many banks will only loan up to about 80% of the equity, but a few go higher. For example, lets say you owe $50,000, but the place is worth $60,000, then you have $10,000 in equity. Take 80% of that and you have about $8,000 you could loan against.

I found a great article about it on
http://www.payoffmyloansnow.com

By: mamma

mamma — Thu, 23 Apr 2009 05:35:15 +0000

Underwriters go by the bottom line income after deductions to base your "debt to income ratio" on if you go long form on your tax return. Therefore, given your occupation (not being a wage earner W2 employee) you probably will need to do a stated loan. If your credit score is 680 or higher you should be able to do a stated income loan efficiently through a Fannie Mae conventional loan. If you end up financing 80% or less "loan to value (of home)" you will have no pmi. Hopefully, this answers your inquiry.