Stimulus package refinancing now available
Phase 1 of the HASP government is under way. Bank of America is able to refinance clients to a lower rate up to a loan to value of 105% provided their first mortgage payment is on time. There are two different types of mortgage refinances:
Refi Plus:
Loan must be currently serviced by Bank of America
Loan must be serviced by Fannie Mae or Freddie MacÂ
Stated income stated asset loan- no documentation needed
Automated value to determine value
Second mortgage if it is with Bank of America will be subordinated regardless of combined loan to value
DU Refi Plus:
Loan being serviced by another lender
Loan must be serviced by Fannie Mae or they should contact their current lender
Full documentation loan
Maximum 105% loan to value
Please contact:
Michael Murray
Bank of America
Cell:Â 301 346-9660
Office:Â Â 301-571-1439
