Folks who have mortgages owned by Freddie Mac and/or Fannie Mae have been waiting for the 125% loan-to-value refinance for quite some time. Fannie Mae and Freddie Mac have been offering the program for months saying the program went to 125% loan to value.

Only yesterday October 20, 2011 was the date of availability that lenders could actually consummate loans with these higher loan-to-values. Freddie Mac still only offers 105% loan to value financing.

Mortgage Lenders are now offering the Fannie Mae Refi Du Plus at 125% loan to value expanding refinance opportunities for homeowners.

Yes now you can refinance your house even you are upside down as long as it is owned by Fannie Mae.

The program allows for both owner occupied and non-owner occupied refinances as well as vacation homes.The loan must be owned by Fannie Mae. Here is the link to Fannie Mae’s website http://www.fanniemae.com/loanlookup/. The loan being refinanced must have been taken out before March 1, 2009.

The loan amount also must meet specific county limits which can be located here. In Sonoma County, the maximum loan limit for this program is $417,000. The homeowner needs to be current on the mortgage and have at least a 680 credit score to do the loan. Appraisal waiver eligibility is based upon minimum 700 middle credit score for the borrower (appraisal waiver is not guaranteed-but strong likelihood).

Don’t you think it’s about time to get a mortgage rate quote for the 125% loan to value refinance?

Get a mortgage rate quote for your 125% loan to value refinance. You owe it yourself to see what interest rate you can qualify for especially if your present interest rate is 5% or higher.

We offer a complete refinance at 125% loan to value with no appraisal.