Financing in Natick>Question Details

John, Home Owner in Medford, MA

Refinancing CLTV 90%

Asked by John, Medford, MA Fri Nov 9, 2012

I'm looking for a lender who will refinance my primary mortgage to a lower rate. In order to do so, I need a second loan(HELOC or Home Equity Loan preferably) to consolidate my debts and lower my DTI.

From what I've researched, the Big Banks are only doing 80-85% CLTV TOPS!!

So basically, the goal is to refinance the 1st mortgage into a lower rate(It's currently at 4.25%) and obtain a second mortgage to consolidate credit card debt, student loans, etc.. etc..

Median Credit score is currently 687. Can someone help me?

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Heath Coker’s answer
I would contact a local lending professional to help with this answer.
There is not enough detail in your question.

I know this guy can be helpful:
Bob Tranchell Total Mortgage Services LLC (508) 367-5731 cell

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0 votes Thank Flag Link Sun May 26, 2013
If you have a 30 year fixed loan at 4.25% and it is conventional mortgage then you have the rate that is currently below the market. I don't see you deriving any benefit from this transaction. To pay off the other debts may be you talk to banks about a unsecured personal loan which can lower your monthly payments overall, if you are not able to get HELOC due to insufficient equity in the house.
Good Luck!

Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
0 votes Thank Flag Link Wed Mar 19, 2014
Hello how do you know your home value did you have an appraisal done recently? You may email me at or phone 262-649-5439.

Brynn Sorenson
0 votes Thank Flag Link Fri Nov 9, 2012
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