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Old 10-08-2011, 07:31 AM
 
4 posts, read 20,912 times
Reputation: 10

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Ok so here it the skinny. 685 fico scores. never late. make 125k. combined ltv is 101% have a small second of $15k 46% debt ratio on a current freddy mac loan. And we get a caution tag on our DU application. broker said nobody does manual underwriting on freddy harp refi's. Am I just screwed?
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Old 10-08-2011, 08:35 AM
 
Location: MID ATLANTIC
8,433 posts, read 21,705,074 times
Reputation: 9962
NO ONE is going above 45% debt ratio on a HARP and NO ONE but your current lender will do the HARP loan. Get your debts to 45% or below. Gray area went away when the mortgage crisis hit.
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Old 10-09-2011, 05:52 AM
 
Location: Wake Forest, NC
835 posts, read 3,865,165 times
Reputation: 650
Go to a broker as many lenders have Freddie Mac Open Access. This is where you refi under HARP to another lender. You absolutely do not have to stay with your current lender.
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