80% LTV Refinance on 3 family

[Ethan Max]

I'm looking to refinance my 3 family home out of an FHA loan and into a conventional loan to save money on my mortgage and remove the PMI. The home is currently my primary residence and I intend to keep it that way. The Freddie Mac guidelines on this have the LTV at 80%, however I can't find any lenders willing to do anything besides 75%. Does anyone know someone willing to get me an 80% LTV in the New York/ Connecticut area?

[Mat O'Grady]

@Ethan Max I believe if you are looking for a bank as a lender, you will need to contact the commercial department in the bank. I was able to get a commercial mortgage from Charter Oak Federal Credit Union. It was 20% down and it was a higher interest rate than a conventional loan. 

[Zach Upton]

@Ethan Max Egan O’Brien at PFS financial services 203-313-7281

[Scott Wolf]

@Ethan Max if it's your primary, it should be easy to do. Shoot me an email. and I'll connect you with a great mortgage broker.

[David Kelly]

@Ethan Max

At first I thought you were looking to cash out which would put you at 75% max LTV. But you are correct, 80% is allowed with Freddie on a 3 unit primary residence. Feel free to reach out with any questions. I am able to help.