refinance home loan

How do I refinance

How in the world can I refinance my home? For those of us that paid 20% or more down payment on our homes and have excellent credit, there is not a program unless your were one of the lucky ones, your loan was sold to Fannie Mae or Freddie Mac. What about the rest of us whose loan was not sold to Fannie or Freddie and we have excellent credit scores and pay our mortgage each month, what do we do? I guess the real question is how do I refinance my home without PMI since I never had PMI. It seems to me lenders could refinance their good customers without PMI if they wanted to. Would they rather have another house back on their books? does anyone have a solution?

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5 Answers

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Sparky's Mom Answered:

John Mirdo, You can refinance your home anytime and anywhere you want. You do not have to stay with the mortgage company you have now. Just go where ever you find the lowest interest, call them and ask about doing a refinance. You should not need to pay any money down. That is usually added to the amount of your refinance. The only money you may have to come up with is about 500 dollars for an appraisal. So find a good lender, give them a call and ask all the questions you like. I hope you find a real good deal out there. I saw a sign yesterday for refinancing at 5.07 percent.

Anna Sparky's Mom

Posted 2 years ago

Please adopt a pet. We need you! ***** I am a free spirit who is grateful for my life and freedom...today. Christine Burgess ***** I am blessed to be friends with the best.

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Sparky's Mom Answered:

John Mirdo, I was only trying to help. You don't have to be so mean and crabby about it. Guess you will just have to buck up with the private mortgage insurance. Too bad. So sad. Next time don't be mean to people.

Posted 2 years ago
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Please adopt a pet. We need you! ***** I am a free spirit who is grateful for my life and freedom...today. Christine Burgess ***** I am blessed to be friends with the best.

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Ray Smith Refinance Advisor Answered:

Refinancing a mortgage can bring big savings. But, for some homeowners, it may not be the best financial move. would a refinance be a smart move for you ?

Do you qualify for a competitive rate? A good credit score is your ticket. Find out how it works before shopping for a loan: understanding your credit score.

Explore all the refi options available before settling with a lender. Options

Don't let all the terms and ratios confuse you. We explain them in our mortgage definitions.

Need some expert advice? Ask Our Experts

Posted 2 years ago
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Get The Best Mortgage Refinance & Loan Modification Services

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Diane Anderson Answered:

Mortgage Refinancing is the best idea to refinance your home mortgage and save your millions of dollars but the question arise is where to refinance? I had also suffered from this problem that where to refinance than one of my friend suggest me one online mortgage refinance provider which provides best refinancing services to the web. So I can suggest you to refinance your mortgage at Refinanceitt which is one my best site for refinancing.

Posted 2 years ago

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Jakerbaker Answered:

You might want to consider doing a no-pmi mortgage loan which is a fannie/freddie loan designed for those who don't have the 20% equity. Fannie/freddie allows for up to 95% loan to value.

Now that Texas Mortgage rates are in the 3-4% range, now is the time to consider a no-pmi mortgage. NO PMI loans have lower closing costs too. I help lots of people in Texas refinance, with and without PMI.