My Blog

I have good news and bad news...which do you want first?

OK - here's the good news. Interest rates are at historic lows, making it possible for many homeowners to refinance and improve their financial position - and combined with homes listed currently at bargain prices, those who are in the market to buy are able to purchase the home of their dreams and get a great deal.

Here's the bad news. Some homeowners who would like to refinance are finding that they can't due to the value of their home has decreased in value to a point that they are unable to refinance.  Current underwriting guidelines require that you have a minimum loan to value ratio of at least 98.5% for an FHA streamline refinance, 90-95% LTV for conventional and 100% LTV for a VA Streamline refinance.  Their simply isn't enough equity to get a lower interest rate and lower their payment.

The best news is that we can work together to  determine if refinancing may be possible in your particular situation.  As always, I encourage you to get in touch with me with any questions you may have to see if refinancing is a viable option for you at this time!

Regards,

Dan Latimer