Financing in 30291>Question Details

STEVEN YOUNG, Home Buyer in 30291

i live in ga. is it possible to streamline refinance a loan with someone else sharing the loan?

Asked by STEVEN YOUNG, 30291 Tue Apr 17, 2012

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Bill Polack’s answer
If you have an FHA loan, not a problem. If you take the person off the loan, problem. Well, more so if it's an appraisal issue. Freddie Mac allows the co-borrower to come off the loan as long as the borrower qualifies by him/herself. Fannie Mae does not offer that luxury. Banks like more people on the loan. It allows them to come after more people for the money...LoL
0 votes Thank Flag Link Tue Apr 17, 2012
As long as all borrowers on the current mortgage are on the new one, then it might be a possibility. The type of loan program that you currently have will determine that your options might be.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes Thank Flag Link Tue Apr 17, 2012
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