Will they refinance my balloon mortgage?

My 3 year balloon mortgage is maturing in February. Back in March of last year, we tried to refinance with another bank but they said our Debt to Income was too high and the only way we could do it was to use equity in our home to pay off some of the other debt we have. We were not sure that the value of the home would be enough and decided not to do it because we would end up having to pay the appraisal fee if it didn%26#039;t work out. We have been doing business at the bank where the mortgage is at for 20+ years. My question is.. Will they refinance the mortgage since the other bank wouldn%26#039;t? We called our bank in December and asked what we needed to do about the maturity coming up and they said just wait until we make our last payment and then come in and they would set it up for 3 years again at prime rate...We paid every payment ontime for the 3 year duration and I see no reason they shouldn%26#039;t set up the balloon again. But since the other bank wouldn%26#039;t do it,it%26#039;s got me worried. help?

Will they refinance my balloon mortgage?credit bureau

All lenders have guidelines to follow. If you don%26#039;t fit in to the guidelines to re-fi your current loan they don%26#039;t have to (i.e. all the foreclosure%26#039;s nationwide right now, they all wanted to re-fi out of their loans but were denied due to poor credit rating, debt-to-income, loan-to-value, ect.). They are not required to re-finance your loan because you chose a balloon.

My suggestion would be to call a major lender with hundreds of loan programs and doc types. With a high enough credit score you can qualify for some of the best loans out their with no DTI issues. Private banks do not typically offer these programs.

I do loans nationwide, if you%26#039;d like my help, please feel free to email me.

Will they refinance my balloon mortgage?

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If you are considering a home mortgage refinance loan there are many great reasons for mortgage refinancing. If you are considering mortgage refinancing ...........

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