Streamline refi condo

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Can I streamline refinace my non-owner occupied condo? If so, what would my rate be for a 15yr-fixed loan with 1pt? My credit scores are above 730, I have never been late on any of my payments, and the condo fee delinquency rate is less than 15%. The property is located in Howard County, MD.

Bethany Beach condo refinance

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Answer #1

Investment properties and second homes are eligible for fixed rate streamline

refinance transactions WITHOUT appraisal only. Obviously, you and your property must meet certain underwriting criteria. It sounds from your question you would.

Please call me directly to answer a few additional questions and get a rate quote. I can be reached at 301.517.5434.

Answered By: Eric Strasser Level Rating

42points

Answer #2

I'll assume you would like an FHA loan. Only thing I will add to the previous answer is that you are not allowed to add ANYTHING to the current principal balance. Not even interest so you either have to bring more money to the table or have the lender cover some of the closing costs thru a no cost refinance. That means a slightly higher rate though but might make sense. You also will pay tax on the entire loan amount if it's a MD property. Factor that in to the math. Hope this helps, please let me know if you need more information.

THANKS,

Answered By: Level Rating

97points

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