Fannie Mae/Freddie Mac Conventional ReFinancing

Conventional Financing is for Excellent Borrowers who still have equity in their home. These customers deserve the lowest rate without mortgage insurance.

  • Credit Scores need to be 700 or better for each borrower otherwise there are adjustments to pricing that hurt the savings
  • Fixed Rates and Adjustable Rate Mortgages available at rates as low as 3.75%
  • These programs generate the lowest payment for refinances and purchases because usually there is no mortgage insurance
  • Mortgage insurance is required for 80%-90% financing on purchases or refinances
  • DU Refi Plus or Freddie Mac Relief allow for up to 105% ,and in some cases 125% financing, without PMI for homeowners who previously secured Fannie Mae or Freddie Mac financing on their homes
  • I can price your loan with points or without. Typically you pay a point to buy your rate lower if you intend to stay in the home for a while
  • Loans for Primary Residence, Second Homes or Investment Properties
  • Fannie Mae or Freddie Mac Loan Programs make for an easier process. Fha has more paperwork
  • Maximum 6% seller paid closing costs for purchase loans 80% and under
  • Maximum 3% seller paid closing costs for purchase loans 90% and under
  • No Prepayment Penalties

 Special Note about Condos: Many lenders don't want these types of loans because associations are hurting due to high foreclosure rates. Most lenders require 30% down if they are going to do them at all.

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