Cash Out Refinance in Maryland .com

Offering Direct Fannie Mae (and Other) Approvals Maryland Properties Only   (not in MD)

Here are some of our most popular Cash Out Refinancing loan programs for borrowers in Maryland (MD):

Plain vanilla Fannie Mae cash out refinance in MD.  The rate is based on credit scores, Loan To Value ratio, etc.  Loan To Value ratio (also know as LTV) is determined by dividing the loan amount by the home value.  Example:  An $80,000 loan on a property with a $100,000 value = 80 LTV.  This loan offers one of the lowest 30 year fixed rates in the market.   Along with 10, 15, 20, etc. and hybrid A.R.M.'s. We will taylor a loan program to meet your goals and cash out refinance needs. 

Refinancing for Cash Out?  In Maryland?  Fannie Mae also has 3 other Levels of credit approvals in addition to the Standard Approval.  Level, 1, 2 & 3.  Rates increase with each Level, but are still the lowest available in the market under most circumstances.  The Level is usually based on the credit scores more than anything else, however LTV and "reserves" also plays a role in determining the Level for a cash out refinance.  Without cash out, guidelines are a little more flexible. Reserves can be defined as the amount of verified liquid or semi-liquid assets (Bank Accounts, Mutual Funds, Stocks or Bonds, IRA's, Thrift Savings Plan,  401K, 403 B, etc.) that are still available after the loan closes.  The Cash Out CANNOT be counted towards reserves on Fannie Mae loans.  Higher reserves usually equates to a lower Level (lower rate too) Approval.  Sometimes even a Standard Approval.   Because these are Fannie Mae loan products, it means some of the lowest rates in the market, even with higher Level Approvals. 

Cash Out Refinancing in Maryland is also available from other Investors which we work with.  What is known as Alt-A are loan products which are "outside the box" for typical cash out refinancing.  These offer higher LTV's, Stated Income options, Stated Asset options, etc., but all require established credit.  Once again, rates are based on the usual factors described above, credit and LTV, with an added factor if the loan Stated Income.

For now (please keep in mind the market is ever changing, so these may or may not still be available when you inquire) we also offer the "Sub Prime" products (fixed rates, and some ARM's) for those that cannot get approval from any other of our products/ investors.  Sub Prime has a bad connotation to it, but it can be a part of a real plan to help someone get back on their feet.  No matter what the do gooder politicians say and think (most mean well but have zero knowledge of the mortgage business, which is a tragedy for lenders and borrowers alike), or what you see or read, a sub prime cash out refinance does have it's place in the market.  However, we will not offer ANY loan product, sub prime or otherwise that does not make sense (in the Mortgage Consultant's or the Company Management's opinion) for the borrower. 

There are many variables involved, more than could be listed here.  You really do need the advice of an expert when considering a cash out refinance.   My name is Burton Jamison and I have been originating and approving loans since 1986.  There is no substitute for experience.  I have 14 years as a broker/ owner.  I will ask many questions to allow us to determine what makes sense for your individual situation.  I will always have honest answers to your questions.   I want your business, but if a cash out refinance does not appear to be a part of the answer, or part of a plan, I will say so.  There are several ways to get started on your Maryland cash out refi.   Apply online now.

Send an email with your number and the best time to contact you. (please note, this email address is changed regularly to try to avoid spammers).  If you need to contact us in the future, please check this page or call for the current email address. 

Download a Fannie Mae application, complete and return by email.   Account numbers or exact figures are not required to get started, but please make note of what is getting paid off with the cash out.

Apply for a cash out in Maryland home loan by phone during office hours (usually 9 to 5, some days 8 to 6).  You can always leave a message if you miss me.  410-643-0222 or  888-643-3659.  (I am located in Maryland) EST Time Zone.

If, based on the information provided I believe Fannie Mae will approve the loan, I will then upload to the Fannie Mae Automated Underwriting System.  I will usually have a  preliminary Loan Decision in Less than 24 Hours.  Other Investors also offer Automated Underwriting, which takes the guess work out of the loan approval process.  Why wait weeks or days for an approval?  Get approved today for your Cash Out Refinance Loan in Maryland. 

Other guidelines may apply and are subject to change. Call Today for more information.