Refinance:
- LTV to 100%
- PMI on LTV > 100%
- Cash Out LTV to 125%
Note - Guidelines stricter in some
programs.
Examples:
- 30/25/20/15 Year Conventional Fixed
Payment
- 30 Due in 7 - 10% down, amortized
over 30 years, payment fixed for 7 years then converts to current
fixed rate.
- 30 Due in 5 - 20% down, amortized
over 30 years, payment fixed for 5 years then converts to current
fixed rate.
- Second Homes - 10% down, Property
located 60 miles from primary residence or in a resort area.
- Investment Properties - 1-4 units,
10% down, rate increase ¾%.
- Manufactured Housing or Mobile
Home - 5% down double wide and land home packages, 10% down single
wide and pre 1076, 10% Chattel.
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