The Freddie Mac Refi Possible program provides borrowers with expanded opportunities to take advantage of low-interest rates and to refinance their mortgage in order to promote long-term, homeownership success. With Refi Possible, low-to-moderate income borrowers can refinance their current loans and save more on their monthly mortgage payments.
A&D Mortgage is a specialist in helping borrowers take advantage of this historic refinancing opportunity and will guide you through the entire loan process.
DISCLAIMER
*Monthly payment must include principal, interest, and mortgage insurance payment
- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements
- FICO 580
- Up to 80% CLTV for WVOE
- Up to 90% CLTV for 1099
- Loan amounts up to $4 million
- DTI 55% Max
- Cash out available
- Completed FNMA Form 1005 for 2-year history with the same employer
- Cryptocurrencies accepted for reserves, down payments and closing costs
- FICO 580
- 90% CLTV
- Loan amounts up to $4 million
- Max cash in hand $1 million, no limit for LTV < 55%
- DTI up to 55%
- 30 & 40 Year Fixed, 5/6 ARM, 7/6 ARM
- Traditional income
- 2-year credit event allowed
- Super Prime & Prime Programs
- Condo up to 90% CLTV
- Condotels up to 70% CLTV
- NY up to 90% CLTV
- Cryptocurrencies accepted for reserves, down payments and closing costs
- FICO 580
- Up to 90% CLTV
- Loan amounts up to $4 million
- Max cash in hand $1 million, no limit for CLTV < 55%
- 3 months reserves
- Cryptocurrencies accepted for reserves, down payments and closing costs
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Combination of business and personal bank statements allowed
- Condo and condotels allowed