Hi davidtobias,
As you've paid cash for the property, I guess you do not have a mortgage on the property. In that case, you do not have to refinance. You will get a primary loan on the property.
This is a mortgage community where a number of lenders participate and give suggestions to the posters regarding their query. You can seek a no obligation free mortgage consultation from them. This will help you know whether or not your would get a loan.
Thanks
As you've paid cash for the property, I guess you do not have a mortgage on the property. In that case, you do not have to refinance. You will get a primary loan on the property.
This is a mortgage community where a number of lenders participate and give suggestions to the posters regarding their query. You can seek a no obligation free mortgage consultation from them. This will help you know whether or not your would get a loan.
Thanks
Look at Fannie ML 08-22. Real irrational pain without a variance (good luck). Think 50% LTV or wait a half a year. No, it doesn't make sense but Fannie is "holding the line" on this issue.
absolutely you can do this. You have 100% equity in the home at this point and any lender will probably be happy to refinance your home. Quotes are available online for this sort of thing if you want to get an idea for how the process works.