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re: Help needed, I recently got turned down on a refinance loan for my home
Posted on 4/23/12 at 12:26 am to 318Tiger Fan
Posted on 4/23/12 at 12:26 am to 318Tiger Fan
You were right about the cookie cutter aspect.
What was your loan to value ratio? Was it over 80%, was it a conventional loan?
I could ask a lot of questions, but it seems you may the same issue with any underwriter.
There are some loans out there right now that do not require an appraisal. This only applies if your current loan is owned by Fannie or Freddie. You need to find that out and then make sure your LO looked at that program.
You can use the links below to look it up. Make sure to enter the information as it is on your current home loan.
Fannie Lookup
Freddie Lookup
What was your loan to value ratio? Was it over 80%, was it a conventional loan?
I could ask a lot of questions, but it seems you may the same issue with any underwriter.
There are some loans out there right now that do not require an appraisal. This only applies if your current loan is owned by Fannie or Freddie. You need to find that out and then make sure your LO looked at that program.
You can use the links below to look it up. Make sure to enter the information as it is on your current home loan.
Fannie Lookup
Freddie Lookup
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