Tag: rate term refinance

Refinance for the Purpose of Paying Off a Second Lien

Question: My client has a home improvement loan as a second lien, and he would like to refinance to combine them. Can this be done as a rate/term refinance? Refinance Loans – All Agencies Chart Answer: Fannie Mae and Freddie Mac agree on this subject. Anytime you are paying off subordinate financing for agency loans, […]

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Waiting Period to Refinance a Property when Adding Parties to a title – Fannie Mae

Question: What is the waiting period on a refinance if the father is solely on the loan & title and the daughter wants to be added to the title in order to refinance the home into her name? They are not seeking cash-out, just a rate and term refinance. Answer: There is no waiting period […]

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Refinancing to Combine First & Second Lien

Question: My client purchased a home and then took out a second lien to make some home improvements. They would now like to refinance to combine the first and second lien. Is this a Rate/Term refinance or a Cash-Out Refinance? MC – Refinance Loans – All Agencies Chart Answer: Fannie Mae and Freddie Mac agree […]

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