Asked by Fha Loan, Palo Alto, CA • Mon Jan 7, 2013
I purchased a house 6 months ago with 4.5% interest rate, I paid 25 % down payment (75% LTV) for $256K purchase price and currently my current loan balance is $190K. During purchase my loan agency appraised the property at $285K. Now I can refinance the same property with 4 % interest from the same loan agency but they want the house to re-appraise at least $285K in order to do zero point, no cost refinance. I don't see the logic, can someone explain. Thanks
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