Posted by Charles Clark on January 10, 2003 at 22:04:19:
Hi Corby,
As always, the basic part of the puzzle is "what is your Min FICO score. There are many programs that offer 90%, some with 95%LTV Cash out. LTV is Loan to Value of the appraised value of the home. So the cash out is partly taken up with closing costs. If you need more money, many times you can pay a higher interest rate and less closing costs. That should be an option your broker will offer.
Charles Clark
looking to refi investment (SFH) to take cash out. So far have the highest ltv i’ve found is 85% with cash back ,I’m looking for at least 90% ltv. any help appreciated.Also if i roll closing costs into the loan do they go on top of the ltv% or does the new loan and the closing costs together not exceed the 85% thanks corby