DaveMully.com Mortgage Blog

If your rate is 5.5% or higher now please read on.

In case you haven't heard the new Fannie Mae refinance program is out. Here are the basics to see if you fall into the guidelines for this program:

- 1st your current loan must be a Fannie Mae serviced loan. Call me & I can check it for you.

- On your last refinance or when you purchased the home you must have had 20% equity or a 80% LTV (no pmi insurance currently).

- Your new appraisal (we order) can be up to 105% of your current mortgage balance.

If this is the case please call me & I can see if this program will work for you.