Sunday, May 30, 2010

Fannie Mae DU Refi Plus

To be eligible for a Fannie Mae DU Refi Plus:

Borrower has an existing eligible Fannie Mae loan.
Current mortgage does not have mortgage insurance.
Demonstrated an acceptable payment history on their mortgage but due to the declining home prices have been unable to refinance to obtain a lower payment or move to a more stable product.
Effectively looking only for a Rate/Term Refinance transaction