IF so, from what lender(s)
Yes, you can on the 80/20, no where with no down as far as I can see.
You have to find a lender who does not sell their mortgages to Fannie or Freddie. They are called "portfolio lenders". If you are strong financially, you can bargain with them.
I live in southern California, I currently have an 80/20 loan and the 80% is going to adjust. I’am in the process of refinancing but it isn’t looking too good for me, I have about 20,000 in equity according to a recent home appraisal but I’am still having problems getting a loan. The payments will go up around $700.00 when it adjusts and it will be almost impossible to pay. Should I contact my Mortgage company now and see if they can work with me and if so what is the likely hood that they will work with me? I would like to avoid a short sell or obviously foreclosure. What are some of my other options? I have fair credit and good income. Beneficial is the company the loan is through.
Contact your mortgage company NOW and explained the stitition today and see if they can help you or refi your home.
You also think about refi into FHA loan if your loan amount is low.
Me & my husband are trying to purchase our first home. We should be pre-approved in the next few days. My middle credit score & my husbands are each 580, we make $75K combined. We are looking to purchase a home for approx $140K…any ideas on what rates we should expect? Thanks!
Probably in the low 7’s