FHA vs. 80/10/10... Looking to refi and owe 142k in Arvada, CO. Appraised @ 200k-210k, FICO @ 670
What would be the best loan product? Would like to pay down 25k in debt and have some left to finish basement, if possible. Bathrooms are updated. Paying PMI now!!!
FHA's PMI is lower, and will alow 95% Cash out.
I am a mortgage broker. If I can be of service, please let me know!
Martin Smith
Precision Funding
877-238-6324 Ext 704
513-536-7184
877-238-6324 FAX
MSmith@PrecisionFundingUSA.com
http://www.PrecisionFundingUSA.com
FHA allows for cash out up to 95% for case numbers pulled before April 1st. After that date, you'll be limited to 85% per a March 12 HUD mortgagee letter. a FICO of 670 would have a decent rate adjustment for Fannie and it would be unlikely that a second lender would take this score. Go with FHA and get the case number pulled before April 1st if you want to go up to 95% cash out!
Chad Bergman, e-PRO
Apollo Financial
5347 S. Valentia Way #300
Greenwood Village, CO 80111
Office 303-733-5950 x248
Cell 303-875-2240
e-fax 303-484-7922
Online http://www.MyDenverMortgage.com
Keller Williams Realty
10475 E. Park Meadows Drive, Ste. 550
Littleton, CO 80124
Office: 303-768-9500
Cell: 303-875-2240
E-Fax: 303-484-7922
Online: http://www.MyDenverHouse.com
FHA is going to be a better loan for you most likely. I believe it would be really difficult to find seconds right now. FHA mortgage insurance is low compared to conventional financing. If you would like a quote please call or email.
Thank You,
Dominique Ressurreicao
Co-Branch Manager
American Pacific Mortgage
559-892-6812
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