Financing in 96706>Question Details

Hawaii Prop, Both Buyer and Seller in 96706

My wife and I own an investment property and are having some difficulty refinancing due to the 89% LTV, any ideas?

Asked by Hawaii Prop, 96706 Fri Oct 22, 2010

Appraised 280k last week, Mortgage 176k, (1366/m) personal loan 66k (1386/M) to cover current mortgage amount. of 242K. We both have good credit and exploring all options.

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There is a great loan officer at Pacific Rim who came help you alot and answer all your Questions better her name is Suzanne Yumol. (808) 754-3180
0 votes Thank Flag Link Sun Nov 11, 2012
I don't understand, is your personal loan a second mortgage? If not you could do a FHA cash out refi up to 85%. You could pay off part of your personal loan and then pay more each month with your monthly savings.
0 votes Thank Flag Link Sun Nov 6, 2011
Try FNMA DU Refi Plus up to 125% ltv
0 votes Thank Flag Link Sat Nov 5, 2011
I dont know the LTV requirements in Hawaii but here in FL, its 80% for a no cash out refi. If you have other property that you can take a small equity line of credit or refinance with cash out, you could reduce your LTV with it and secure the rate you are looking for (I assume you are refinancing to lower your rate/payment). Only way I see is to shuffle money.

Cheers.
Mike Messineo
Nola Lending
941-586-5384
0 votes Thank Flag Link Fri Oct 22, 2010
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