203k refinance

Hi sjperrini,

It will be difficult for you to get a 203k refinance if you do not have equity in the property. Lenders will not be ready to refinance the loan in such a situation. You may go for a personal loan or contact your friends or relatives to help you in this regard.

Hi sjperrini,
On 203k loans, you can lend up to 110% of the "as completed" appraised value with a minimum of $5,000 in repairs. Tell us more about your scenario. What kind of home improvements. How much do you owe and what's the value of your home?

i agree with theo (ted) - and what shouldwe call you?

with a 203(K) you can refinance and often obtain what you need to do the improvements/repairs that you need. there's undoubtedly going to be out of pocket expenditures as well, i'd think, based on your commentary, though.

as mentioned, throw out the scenario along with the anticipated repairs and costs thereof, and you'll get a better answer.

hello,

can i do 203k refinance from one mortgage company to another?

Arvie, I'd have to assume that you've had your loan for a little while at least, and that all the work on your home has been completed. That being the case, there's no reason why you wouldn't be able to go out and obtain a new loan from any lender who'd be willing to grant the loan.

Hi,

Can you tell me more about Obama Mortgage plan?

Thanks, :)

Check out the given pages in order to know more about Obama Mortgage Relief Plans:
http://www.mortgagefit.com/problems/homeaffordable-modification.html
http://www.mortgagefit.com/problems/homeaffordable-refinance.html