Posted on: 06th Mar, 2009 12:13 pm
Problem: The points paid is about $20k. If I roll that into the refi amount I then do not qualify because it is not over the percentage of the LTV. But if I don't roll the $20k into the refi amount, I qualify. The issue is I don't have $20k to pay for the points. Any advice?
You should speak with someone ASAP. If you are paying $20k in points, that seems like A LOT. There are lots of qualified mortgage professionals here. I would reach out to one of us and let us see what was proposed to you. You may be able to reduce those costs significantly.
Keep shopping!
Even if you have a large loan amount, 20k in points is crazy. Shop around, it never hurts to give you loan officer a little competition and get a second opinion.
Best of luck!
Even if you have a large loan amount, 20k in points is crazy. Shop around, it never hurts to give you loan officer a little competition and get a second opinion.
Best of luck!
