If you have a mortgage through a private lender you may be wondering if it is possible to refinance from a private mortgage into a traditional mortgage. The answer: Yes, you can! Refinancing a private mortgage into a traditional mortgage is actually very similar to a standard traditional mortgage refinance. In order to refinance your private mortgage into a traditional mortgage, you will need basic documentation – the same documentation you needed when originally applying…
Continue Reading »Based on a past Blog we wrote in June, a previous client emailed us and asked for us to look into the Streamline FHA Refinance for him. We gladly took an application and starting crunching the numbers. Back in January 2009 when this client closed, their rate was over 5%. With today’s low rates we were able to secure a much lower rate for this client and save them $275/month! With the FHA to FHA…
Continue Reading »Effective with case numbers starting June 11th, 2012 the FHA Single Family Refinance just got better! Now, clients who want to take advantage of today’s low rates without the burden of higher monthly mortgage insurance can streamline their current FHA mortgage into a new FHA mortgage. Your existing FHA loan MUST have been endorsed on or before May 31st, 2009 in order to be eligible for this program. Basically, if you closed after May 31st,…
Continue Reading »With so many loan programs, it is our job as Mortgage Brokers to understand what programs fit our clients. Maple Tree Funding’s Mortgage Loan Originators are licensed professionals and understand that not every client fits into a certain loan program. Why use a broker? A common question that we hear quite often. At Maple Tree Funding, we have the ability to review all types of loans and not just the “one fits all” approach that…
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