First Mortgage Refinance 100%
BD Nationwide connects homeowners with lenders that offer several fixed rate refinancing programs for a wide range of homeowners. The 110% refinance mortgage is a very unique loan program, because there is only one loan and the mortgage balance exceed the home's value. The 100 and 110% 1st mortgage allow you to cash out beyond the market value.
This mortgage loan will allow you to eliminate the lending requirement of private mortgage insurance. We offer a 30-year fixed rate home loan that ensure a fixed interest rate that is fixed for the entire term of the loan. In addition, BD Nationwide can help you locate lending sources for credit lines and refinance mortgages with a fixed or adjustable interest rates. There are still several no equity refinance programs including the Home Affordable Refinance Program, 100% refinance loans and a few other interesting opportunities for homeowners that lack equity in their property.
Payment Example 100% CLTV:
$320,000 30 Year Fixed First Mortgage at 4%
360 Monthly Payments at $ 1,527.73 (payment example does not include taxes and insurance)
Payment Example 110% CLTV:
$320,000 30 Year Fixed First Mortgage at 4.25%
360 Monthly Payments at $ 1,574.21 (payment example does not include taxes and insurance)
With the 110% mortgage with a fixed interest rate for refinancing. You can leverage your rights as a homeowner all the way to 110 or 100% LTV mortgage with a fixed term loan. You will also reap the rewards of a low rate and low payment that is stretched out over thirty years. This is even more than the 100 mortgage program that gets so many people excited.
Refinance Mortgage Tips and Advice for Shopping Loans Online
Find a lower rate for 30 years or 360 payments
See a 100% LTV Mortgage with No Private Insurance Required on your lien
Interest rate is quite a bit higher than traditional 1st rates
- Learn How to Refinance and Get Cash Back
- 125% HARP Mortgage Refinance
- FHA 203K Allows Cash for Rehab with a 115% Mortgage
- Debt Consolidation of High Rate Credit Cards
- Low Rate Refinancing 100% and Beyond
What are the HARP Requirements for 100% Refinance Mortgage Loans in 2018?
The Federal Housing Finance Agency recently stated that it planned to extend the HARP (Home Affordable Refinance Program) until Sept. 30, 2017 to create a smooth transition to a new mortgage refinance product it intends to launch in Oct. 2017.The FHFA states that Fannie Mae and Freddie Mac intend to implement a new refi program that is aimed at home owners with high LTV (loan to value ratios).
The agency stated that the new refinance product will help borrowers who are current on their mortgage but cannot refinance with conventional first mortgage refinance products because their LTV is too high. The new high LTV mortgage product for streamlined refinancing will not be ready until October 2017, so HARP has been made available through the end of September 2017. The FHFA believes that up to 300,000 homeowners may be able to refinance through HARP through Sept. 2017. The 100% refinance mortgage has made the HARP loan more popular than ever.
The Trump Administration seems to be committed to extending this 100% mortgage refinance program through 2019, but the default rate in 2018 will likely have a significant impact. We suggest refinancing today while this program exists, and 100% mortgage rates remain this low. We continue to hear whispers about the 100% cash out refinance making a comeback as well.
About the New HARP Program that Goes Beyond a 100% LTV Mortgage
The latest version of the Home Affordable Refinance Plan will open on Oct. 1, 2017, and it will eliminate the need that the loan had to be opened before the end of May 2009. Homeowners who bought a home after May 2009 will be allowed to refinance, but the loan has to be owned by Fannie Mae or Freddie Mac. The new guidelines include:
- 95% LTV is the limit for Fannie Mae loans
- 97% LTV is the limit for Freddie Mac loans
- No missed payments are allowed in the previous 180 days
- No more than one missed payment in the last year
- The program can be used multiple times
- HARP mortgage holders do not qualify
- Homeowners who did have a HARP mortgage but have refinanced out of DO qualify
The Home Affordable Modification Program and HARP were launched in 2009 to help home owners by lowering their mortgage payments that were about to expire in October of 2017. To be eligible for HARP up to Sept. 2017, you need to fit the following requirements:
- You cannot have missed any payments in the last six months
- Must not have missed more than one payment in the last 12 months
- Must have a source of documented income for high LTV refinance
- Must receive some kind of tangible benefit with refinancing, such as a lower interest rate, reducing monthly principal or interest payment; shorter loan term, or a more stable loan product.
Also, to qualify for the current HARP, your loan must be from Fannie Mae or Freddie Mac, and must have closed by the end of May 2009. The current LTV has to be higher than 80%. You also may not have any late payments in the last six months. If you do not meet the HARP eligibility requirements of 2018, we suggest inquiring about FHA mortgage rates today, as you need very little equity to qualify for in many instances. If you have a military background, you may be eligible for a 100% refinance backed by the VA. Check the current VA interest rates today.
Don't wait any longer, complete the quick-form above and you can speak with several seasoned mortgage professionals live. Get connected with 1 of 100 refinance lenders offering helpful consultation that includes a free loan quotes with no obligation. There are no guarantees for approval, but these high LTV lenders do not charge application fees.
ARM vs. Fixed Rate Calculator
How does a 1st mortgage with a fixed interest rate compare to an adjustable rate mortgage or home equity line of credit at 100% LTV?
Rate Disclosure on 100% LTV:
*4.0% (APR 4.017%) quoted above was for a thirty-year fixed rate on a loan amount of $320,000 with a set monthly payment of $1,527.73. (1-29-18 on a 30-year lock) There are no points with this 100% loan, but there is a flat $664 fee to cover some of the 3rd-party closing costs.
Rate Disclosure on 110% LTV:
*4.25% (APR 4.273%) quoted above was for a thirty-year fixed rate on a loan amount of $320,000 with a set monthly payment of $1,574.21. (1-29-18 on a 30-year lock) but there is a flat $865 fee to cover some of the 3rd-party closing costs.
The rest of the costs are paid from the lender credit for qualified borrowers' Applicable local taxes and hazard insurance premiums were not considered in this payment example.