Refinance Rates

Question: Does my mortgage have to be backed my freddie mac to qualify for lower refinance rates?

(Posted by: Chris W on 2009-03-09 14:36:29)

I have a mortgage from Bank of America. Can I refinance with the new GOVT asst rates if my mortgage is not a freddie or fannie mortgage?

Posted by: utreinvestor on 2009-03-09, 16:01:25

As long as you can qualify for the new loan it doesn't matter what your current mortgage is or who backs it. if you want a govt backed loan (like fha) you have to qualify and the property needs to be your personal residence.

Posted by: golferwhoworks on 2009-03-09, 14:42:18

If it is with Bof A it is backed by either Fannie or Freddie FHA VA