SergioLenza
30 Posts |
 Posted - 11/05/2007 : 11:31:11 AM
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quote:
Originally posted by chris134
Does anyone know if FHA limits ltv on a refi with 1x30 on the current non fha mortgage?
Depends on what you are trying to do. If you are trying to do a cash/out loan, then you are limited to 85% LTV if there is a 1 X 30 on the mortgage in the last 12 months. Otherwise, you can go up to 95%.
As far as rate/term is concerned, there technically is no limit to the LTV, up to a maximum of 97.75. That 1 X 30 would be up to Underwriter's discretion, and the benefit of the new loan would be weighed either for or against it. Compensating Factors, such as time of residency, time on the job, reserves, et al... would be a determining factor as well. |
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