if you have a 2 year prepayment penalty and theres enough appreciation to do a refi cash out, can you roll the 6 month interest and closing costs into the new loan and get more cash out.
#118104 - 06/08/0611:08 AMRe: refinancing PPP/closing costs into the new loan
TN Mort Broker
Member
Registered: 02/20/06
Posts: 176
Loc: Nashville, TN
The 6 months interest is added directly to your mortgage payoff. As long as you are usinfg the appraised value of the property and if the pre-pay doesn't raise the LTV above the programs guidelines than you will be fine.
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