Boliviascott, Home Buyer in Los Angeles, CA

I am looking for a lender to refinance a 4-plex owner occuppied that has the 20% equity to rid the PMI and lower the rate.

Asked by Boliviascott, Los Angeles, CA Tue Oct 9, 2012

I have a 4-plex that I purchased almost 3 years ago and I am living in 1 and renting the other 3. I am presently shy $63 per month to cover my mortgage and impds and would like to refinance. I believe I have 20% eq and want to refinance a get rid of PMI. Does know a good lender?

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Jenny Durling…, Agent, Los Feliz, CA
Tue Oct 9, 2012
You may need to have more than 20% equity in order to refinance but your question should absolutely be directed to a loan officer. Have you spoken to the one who did your original loan? If you are not happy with that one, I can recommend:

Arin Dunn
Nationwide Capital
(626) 256-6300
1 vote
Gail Mercedes…, Agent, Los Angeles, CA
Tue Nov 19, 2013

Check with established direct lenders. Be sure to compare rates, terms, points and additional fees for the loan. It will take time on your part but will save you money in the long-term. I suggest only dealing with direct lenders.

Gail Mercedes Cole
EXP Realty Marina del Rey
0 votes
Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Wed Oct 10, 2012
Unless you are eligible for HARP (which if you got your loan "almost 3 years ago" then it would've been after May of 2009, therefore you'd be ineligible) Fannie Mae financing will only go to 75% loan-to-value on an owner occupied 4-plex (meaning you'd need 25% equity). However Freddie Mac financing will still go to 80%, so just 20% equity would be needed. We offer both Fannie Mae & Freddie Mac loan programs.

Shane Milne | Lending in all 50 states | NMLS #81195
0 votes
Jolanta Jonu…, Agent, Los Angeles, CA
Tue Oct 9, 2012

Feel free to contact me tomorrow after 1pm at 323 316-3300.
We will discuss your options with the best mortgage broker.
Talk to you later
0 votes
MIKE PANDAZOS, Mortgage Broker Or Lender, Burbank, CA
Tue Oct 9, 2012
Hi there,

Feel free to contact me or message me your contact info, I'll be more than happy to provide more information and explore your options for refinancing.

Mike Pandazos
Metro Lending
0 votes
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