90% Cash Out Refinance with No Mortgage Insurance Program

By
Mortgage and Lending with Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 NMLS# 137243
https://activerain.com/droplet/4sVJ

For those who have been looking for cash out refinances to pay off bills or second mortgages, the optionscash out refinance have been pretty slim over the last few years.  Conventional financing limits cash out refinances to 80% of a home's value and FHA mortgages provide an 85% limit.  Recently a 90% loan to value (LTV) product has emerged that enables customers to tap into a larger percentage of their home equity and not pay any mortgage insurance! 

        Benefits and Highlights of this Program Include:

  • Loan amounts up to $800k
  • Purchases or refinances available
  • No mortgage insurance required regardless of LTV
  • Cash out to pay off all mortgage debts, without an increase to rate
  • Cash out for debt consolidation (max $20,000 of non-mortgage debt)
  • 740 minimum credit score (85% LTV down to 720 credit score)
  • Rural properties, large acreage ok

 If you are considering taking cash out of your property it may be worth it to give me a call about this program to see if this program will benefit you. 

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Topic:
Lending / Financial
Location:
Pennsylvania
Tags:
90 cash out
no mortgage insurance
pennsylvania cash out refinance

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Rainmaker
1,282,430
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Sounds like a good mortgage deal, thanks for sharing info.

Aug 19, 2010 07:47 AM #1
Anonymous
Howard

Is this available on investment properties as well?  Also, is there any seasoning?

Sep 26, 2010 03:03 PM #2
Rainmaker
650,487
Keith Landis
Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 - Pittsburgh, PA
Pennsylvania - "Your Pennsylvania Mortgage Source"

Howard,

Owner Occupied only

12 month seasoning

Sep 27, 2010 04:44 AM #3
Anonymous
Jason

Is this available in the NYC area with a loan amount in the 550K range?

Oct 23, 2010 04:02 PM #4
Rainmaker
650,487
Keith Landis
Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 - Pittsburgh, PA
Pennsylvania - "Your Pennsylvania Mortgage Source"

Jason,

It probably is, but I am not licensed in NY state.  Check with an LO there.  Thanks

Oct 24, 2010 04:14 AM #5
Anonymous
Vivian Marlar

Please let me know what states you are licensed in. I am a broker in TN.


Thank you

Dec 07, 2010 03:21 AM #6
Rainmaker
650,487
Keith Landis
Keystone Home Finance - NMLS#834342 - Conventional - FHA - VA -USDA - Jumbo Programs - Direct Phone 412-726-1654 - Pittsburgh, PA
Pennsylvania - "Your Pennsylvania Mortgage Source"

Pennsylvania

Dec 08, 2010 08:23 AM #7
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Rainmaker
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Keith Landis

Pennsylvania - "Your Pennsylvania Mortgage Source"
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