Financing in 33445>Question Details

Itlog23, Other/Just Looking in 33445

Does Fannie Mae /Freddie Mac refinance a loan from another bank?

Asked by Itlog23, 33445 Thu Oct 15, 2009

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I can refinace you with an FHA loan, and provide Cash out up to 85% or a rate and term refinace up to 97.75% down to a 530 FICO...............FHA refinancing offers benefits for current Florida real estate home owners who are seeking to complete a refinance mortgage of their existing Florida home loan A FHA home loan refinance may also benefit Florida homeowners who you do not currently have a FHA loan.
Some advantages of using a FHA mortgage for your mortgage refinance are as follows:
• Cash-Out Refinance up to 85% for existing or new FHA mortgages.
• Cash-Out up to 85% of your properties value.
• Consolidate first and second mortgages into single loan.
• Bill consolidation programs.
• Easier credit and income qualifications.
• FHA regulated closing costs.
• Rate and Term Mortgage Refinancing up to 96.5% of your homes value.
• Consolidate first and second mortgages into a single loan.
• No FICO score ok or min. 530 credit score.
• Competitive rates for borrowers with a Bankruptcy older than two years.
• Competitive rates for borrowers with a Foreclosure older than three years.
• Easier credit and income qualifications.
• FHA regulated closing costs.
• FHA Streamline Refinance for existing FHA loans only.
• No Cost Interest Rate Reductions programs.
• No Income or Credit Qualifications.
• Zero cost refinance options available.
• Easily switch amortization for adjustable to fixed or vice versa.
• Easily shorten or lengthen term of your existing loan.
• Easier credit and income qualifications.
• FHASecure Refinance with current mortgage lates.
• Refinance your mortgage at competitive rates even if you have a mortgage late on your credit that is directly due to adjusting mortgage.
• Qualify for refinance even if currently in foreclosure.
http://www.fhamortgageprograms.com/mortgage/homeowner-refina…
0 votes Thank Flag Link Thu Oct 15, 2009
Yes they do. There has been some confusion over this with the Hope for Homeowners programs called Fannie Mae DU REFI Plus and Freddie Mac Relief Refi.

These programs are for use if you are looking to refinance when you are close to or over equity in your property. Originally, these programs were limited to refinancing with the original lender but now they both allow OPEN ACCESS to all lenders participating. That is good news for the homeowner who can now shop around for the best loan.

On regular Fannie and Freddie loans, there are no restrictions on who can or what lenders can refinance their products.

If you would like more informain or more specific information regarding your scenario, please contact me. I would be glad to help.

Andrew Kashella
AKashella@TLTLoans.com
727-331-8405
0 votes Thank Flag Link Thu Oct 15, 2009
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