Contact Us | Interest Rates | Loan Programs | Home | Mortgage Qualifier | Mortgage Application | Company Info

On a refinance loan, you still have the closing cost and your prepaid items. Your closing costs are generally lower, and the loan is normally completed faster.

The Loan to Value Ratio is more critical on a refinance than on a purchase. The maximum LTV for a rate and term refinance is 90%. This includes the closing cost rolled into the loan. The loan can still be accomplished with a LTV over 90%, however, all closing cost must be paid out of pocket. To exceed the 90% LTV an acceptable credit history is required.

Cash out refinance is limited, in most cases, to 75% LTV. Some lenders can increase the max LTV on a cash back loan to 80% with specific credit criteria requirements. In this case, some of these lenders may charge a small fee to increase the LTV from 75% LTV to 80% LTV.

Documents for the Refinance include existing title insurance, current hazard insurance policy, current survey, and the warranty deed. All other normal credit documents will also be required.