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I've spoken with a couple lenders and they are not doing any refinances in Florida. Does anyone know of any lenders that are doing refinances in Florida? I'm not underwater, have made all payments on time, and have excellent credit.
Thanks
I've spoken with a couple lenders and they are not doing any refinances in Florida. Does anyone know of any lenders that are doing refinances in Florida? I'm not underwater, have made all payments on time, and have excellent credit.
Thanks
Depends, are you talking about Jumbo loans? Many lenders who normally did jumbos pulled out of Florida a couple of years ago. Florida is a complete mess with mortgage fraud (well fraud everything).
Its an FHA loan. I would like to refi to a conventional if possible.
The "ability" to go from FHA to conventional will depend on how much equity you have, what your credit score/history looks like and what your debt to income ratio is. The main concern is if you need private mortgage insurance (PMI) on the new conventional loan, you'll have to qualify under not only the loan guidelines but also the PMI guidelines.
Do you have an idea of what your home is worth right now?
Based on the numbers, it looks like you'll need to go with an FHA streamlined refi. I can take a look at what I have on the conventional side if you can give me an idea of what your credit score and debt to income ratios are.
Also the home isn't my primary home. It was originally but now I rent it. Credit score is low 800's. How do I calculate my debt to income ratio?
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