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Mortgage Refinance Guidelines
Understanding the mortgage guidelines is imperative for shopping for refinance loans efficiently online. Recently, there have been major changes in respect to FHA guidelines, VA and streamline guidelines. More income and home equity seems to be the trend with mortgage refinance guidelines in 2010. Refinance lenders offer several types mortgage loans for rate refinancing, cash out and debt consolidation. Homeowners can select from FHA, VA, 30 year, 40 year, fixed, variable, interest only, option ARM and home equity loans. Most refinance loans offer the choice of a fixed or adjustable rate term for refinancing.
Today many borrowers are aimlessly searching for a refinance solution that will refinance their escalating adjustable rate mortgages into a fixed rate mortgage that meets the demands of their family budget. Refinancing your mortgage online can be daunting, so it is imperative that you work with a trusted mortgage lender, like Nationwide.
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Nationwide Mortgage Loans has implemented several refinance loan programs to assist borrowers with lowering their monthly payments to free up their cash flow.
Check out our updated guidelines for refinance loans that feature simple interest amortization with options for "no pre-payment penalties, "no lender fees, and of course "no points."
Home loan refinancing is a critical financial decision that merits careful consideration. Choosing a fixed or adjustable rate has a long lasting impact, so select your refinance loans wisely.
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Refinance Loan Guidelines |
Refinancing Terms
Amortization Schedules for mortgage loans
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15 year
30 year
40 year
50 year |
| Maximum Mortgage Refinance Limits |
Loan Amount- $3,000,000 |
| Income Documentation Requirements: |
Full Documentation
Stated Income
Verified Employment
No Asset Verification |
| Loan Purpose |
Cash Back
Loan Consolidation
Home Improvement
Rate and Term Refinance |
| Ownership Type |
Primary Residence, Owner Occupied, 2nd Home, Investment |
| Home Types |
SFR 1-4 unit, PUD, Condo unlimited stories |
| Appraisal |
. Statistical Appraisal
. 2055 Drive-by Appraisal
. Full URAR Appraisal |
| Credit Reports |
Lower of 2 credit bureaus and Middle of 3 bureaus
High Credit Score |
| Borrower Eligibility |
U.S. Citizen; Permanent Resident Alien;
First-Time Homebuyer; Non-Occupant
Co-Borrower; Non-Permanent Resident Alien. |
Our lending commitment provides homeowners with "out of the box" loan products that help refinance, consolidate and lower your monthly payments to maximize savings.
Recent Refinance Posts from Nationwide Mortgage Blog |
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