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
Heath Coker, Agent, Falmouth, MA
Sun May 26, 2013
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
, ,
Wed Mar 19, 2014
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
, ,
Fri Nov 9, 2012
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
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