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Can I Refinance My Adjustable Rate Mortgage At 120% LTV?

April 26, 2017adjustable rate mortgage Business credit Finance LTV Refinance

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Can I Refinance My Adjustable Rate Mortgage At 120% LTV?

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If you were at 120% LTV when you took out the loan there are no programs for refinancing, but you should call your lender to see if there is a modification program available. If there is, costs should be minimal. If your LTV is 120% because your home value has decreased there are FNMA and FHLMC programs available through the Home Affordable Refinance Program (HARP) that allow refinancing up to 125% LTV at current market rates. If you had no PMI before, there will be no PMI with the new loan.