Streamline refi condo



Answers
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.

Answers Answered By: Eric-Strasser Level Ratingpoints
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,

Answers Answered By: Brent Mendelson Level Rating133points

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