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Updated about 9 years ago on . Most recent reply

User Stats

94
Posts
12
Votes
Brandt Tingen
  • Rental Property Investor
  • Washington, DC
12
Votes |
94
Posts

97% LTV Conventional Refi

Brandt Tingen
  • Rental Property Investor
  • Washington, DC
Posted

Hi, I heard from multiple sources recently that Fannie/Freddie are insuring 3% down conventional no or low PMI loans. Does anyone know if you can refi with this program as well, and if so what the limitations & rules/regs are? Thanks.

Most Popular Reply

Account Closed
10
Votes |
44
Posts
Account Closed
Replied

Brandt,

The 97% LTV program is designated solely for 1st time home buyers. There is PMI on this program and I believe it to be higher than normal but you can "buy it out" upfront therefore eliminating the PMI altogether.

Regards,

Tod 

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