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Do you know of any lender that will refinance for someone who has a 66% debt to credit ratio?

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muziklover Joined: 14 Oct 2009 Posts: 1 1.30 Dollars($)	Posted: Wed Oct 14, 2009 4:40 pm    Post subject: Do you know of any lender that will refinance for someone wh Like 0 Dislike 0 I am trying to refinance my home loan (560K) on a property in CA, Los Angeles County that is worth over a million. Have excellent credit history and FICO score...None of the big banks would refinance the loan due to my debt-to-credit ratio.. Always paid more than the monthly mortgage amount and pay all the credit cards in full. NO payments other than the home loan. Need a lender that will refinance our home loan.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Wed Oct 14, 2009 5:06 pm    Post subject: Like 0 Dislike 0 not even 5 years ago would a 66% ratio work. the highest i ever saw was 64.9%. automated underwriting wouldn't go over the 65% threshhold and now you've had enhancements to that so ratios must be less. you need to shave some debt first. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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