Financing in Austin>Question Details

jcolivier, Home Owner in Austin, TX

Looking to refi loan on SFR inv prop in Round Rock TX. Owe $137-worth $113. Willing to put $ into it to get reqd LTV but want to minimize inv. Ideas?

Asked by jcolivier, Austin, TX Mon Jan 16, 2012

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Kelly Fest’s answer
If the home has a Conventional loan done before June of 2009, I can refinance it for you without any out of pocket costs and no appraisal. Please contact Kelly at kfest@loansimple.com or 972-854-3270 for a free analysis.
0 votes Thank Flag Link Mon Apr 30, 2012
I agree with Bruce. Start with your current lender first, but be open to a local lender referred by a Realtor. We all have preferences, but we also have lenders that can close the deal and give good advice. Please do message me if you need a referral. Good luck!
0 votes Thank Flag Link Sat Jan 21, 2012
I'd call your current lender and ask them for advice and assistance. See what they can offer.
0 votes Thank Flag Link Thu Jan 19, 2012
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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Hello Jcolivier,

As previously stated, depending on the current loan program you are on, you may be able to restructure your home loan today without any cash investment. It all depends on the current financing.

I would be happy to help you with your financing. Our company Residential Finance Corporation is a National Direct Lender with access to some of the industries lowest possible rates and more importantly service second to none. We close loans on average in about 18-20 days start to finish. We underwrite and process your loan in house so you are informed every step along the way.

I look forward to hopefully hearing from you.

Joshua A. Lerette
Senior Loan Officer
Residential Finance Corporation
800.930.7334 Ext. 1108 – Toll Free
813.402.4637 – Direct Line
727.488.7355 – Cell
888.692.5967 – Fax
Josh.Lerette@myrfc.com

http://www.residentialfinance.com
0 votes Thank Flag Link Tue Jan 17, 2012
If your loan is owned by Fannie Mae or Freddie Mac, under the new Affordable Refinance Program you can refinance up to 125% of the appraised value. There are loan pricing adjustments (LLPA''s) associated with this program and your current loan must be owned by Fannie Mae or Freddie Mac. you can google who owns my mortgage to see which GSA owns. I would be happy to help you if you want to proceed.

Lea Shaw
Pulse Funding of Texas
512-266-3800
lshaw@pulsefunding.com
http://pulsefunding.com
0 votes Thank Flag Link Mon Jan 16, 2012
JC

There is a new plan we(as bankers) are evaluating.
Send me you specifics.
Is the credit good?
Good job history?

My bank will be on board for this program when we are certain that we can sell these loans.....
And it may NOT require a cash investment.
The program name is "HARP 2"

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
NMLS# 335055
0 votes Thank Flag Link Mon Jan 16, 2012
Hello. The maximum loan to value is 75% per FannieMae guidelines since this is an investment property. Who is your current lender? Some of the lenders will do HARP refinances which is a govt supported program which waives the appraisal requirement.
Web Reference: http://JohnSchutze.com
0 votes Thank Flag Link Mon Jan 16, 2012
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