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Mortgage Refinance Information

Minnesota Mortgage Rates is very experience with refinancing mortgages. We have a wide range of products for anyone looking to achieve their refinancing goals. There are many reasons to refinance your mortgage some of the most common are a change in your credit score, increased equity in your home, cash out, and to change your loan program.

Minnesota Mortgage Rates has many products that will go to 100 % loan to value and even some that will go to 125% loan to value. What ever your refinance mortgage needs are Minnesota Mortgage Rates can help.

Example of A 80/20 Mortgage Loan

It is important to understand that the 80/20 Mortgage Loan can be used for purchase and refinance transactions. Please see the article on 80/20 loans on the left hand side of this page. That means that Minnesota Mortgage Rates can do 100% financing on both purchase and refinance transactions. These loans are so popular because we do a 80% first mortgage and a second for 20% and there is no PMI (Principal Mortgage Insurance). Rates depend on credit for this type of loan we have the ability to do an 80/20 loan down to a 560 credit score.

Appraised Value or Purchase Price = $280,000.00

1st Mortgage = $224,000.00

2nd Mortgage = $56,000.00

Total Loan = $280,000.00 or 100 % Financing

Closing cost for both a refinance and a purchase can be financed into this loan making this loan easy with no out of pocket costs.

 

Contact

Matt Jensen
1748 Heron Lane
Mound, MN 55364
Telephone: 763.229.8436
Fax: 952-216-0046
mjensen@diversifiedlender.com

 


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