Fannie
Mae 30 Year Fixed*
Call Today, Get Approved Today! Low Rates, Low Fees And I Mean It! 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. Pease Note: It is becoming increasingly harder to get these higher level loans approved and to closing. 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. Please Note: Stated Income Loans are No Longer Available in Maryland. For now (please keep in mind the market is ever changing, so these may or may not still be available when you inquire) there are other products (fixed rates, and some ARM's) for those that cannot get approval from any other of our standard products/ investors. The old term 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. I am licensed in Maryland. There is no substitute for experience. I have more than 22 years in the business, 13 of those as a owner of a mortgage brokerage. I will ask a lot of questions 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 fax 410-643-8826. 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 us. 410-643-0222 or 888-643-3659. (I am located in Maryland) EST Time Zone. All loans will be originated through Compass Point Mortgage Corporation. If, based on the information provided we believe Fannie Mae will approve the loan, we will then upload to the Fannie Mae Automated Underwriting System. We will usually have a Loan Decision in Less than an Hour. Our 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. Apply By Phone, And Get An Answer Usually The Same DAY 410-643-0222 888-643-3659
Complete Our On Line Prequalification Form And Get Started Today! Cash Out
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Products, Programs, Guidelines, Rates, etc. are subject to change.
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