Refinancing or not?

Asked by Doug, Louisville, KY Sun Feb 13, 2011

I have a conventional loan and want to refinance, but would like to use a driveby appraisal. I have an excellent credit score 780, can anyone help?

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allan erps,ABR,SFR’s answer
allan erps,A…, Agent, Pearl River, NY
Sun Feb 13, 2011
Not sure why you care to have a driveby appraisal. That decision would be made by the Lender. With your 780 Score and if there is proper equity in your home I do not see any reason to be concerned.
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, ,
Thu Oct 10, 2013
 Minimum credit score is 620, unless otherwise indicated on
the matrix. Three trade lines are required unless one is a major
account, such as mortgage.


 No Manufactured homes – No “on frame” modular homes
RATIOS

 Maximum debt ratio is 55% if credit score is =>640 and
50% when credit score < 640.

 ALL loans must score “approve/eligible” or
“accept/accept” through AUS. We can no longer approve
“refer” loans.
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