Mega Capital Funding will offer Fannie Mae’s new refinance option – RefiNow – as part of our diverse product offerings.
DU Refi Now Program highlights should include:
Refi Now is exclusive to existing FNMA owned mortgages
Will reduce borrower’s interest rate by .50 basis points
Adverse LLPA waived
$500 credit to the borrower at closing if appraisal report is obtained for transaction
Total Qualifying Income cannot exceed 80% of subject property’s AMI (Area Median Income)
640 min fico score
Max 95%LTV/CLTV/HCLTV
Rate & Term Refinance only
Primary residence only
Maximum loan limit must confirm to general loan limits
High-Balance loans are not permitted
See additional DU Refi Now program requirements on MCFI website www.mcfunding.com
