*LOAN MUST BE OWNED TODAY BY FANNIE MAE  or FREDDIE MAC TO BE ELIGIBLE*  (Also we can only work our magic for Florida owned properties.)

This special program helps borrowers who have good payment histories (up to 1 mortgage late in last 6-12 months) refinance their 1st mortgage & roll-in costs up to a maximum new loan of $417,000.  

Combined with today's very low interest rates, borrowers can anticipate the benefits of lower monthly mortgage payments or get a lower fixed term such as a 15 year, 20 year or 25 year fixed mortgage.  This also gives you the opportunity to refinance your adjustable-rate mortgages (ARM) to a stable fixed-rate mortgages.

Highlights of Unlimited Refinance Programs

• Maximum LTV for transactions is Unlimited & there's no maximum CLTV limit with re-subordinated existing subordinate financing.
• All property types are eligible for refinancing, including condos & PUD's.  Project reviews not required on condos, PUDs (subject to change).  
• Primary residences & investment properties are eligible up to 4 units (4-plex).
• Second homes - 1 unit only are eligible.
• Borrowers may be added to the new loan, provided existing borrower(s) are retained.
• Full Documentation loans only.
• Only 1 year federal tax returns.
• 30 Yr Fixed loans or Arm's > than 5 years fixed.
• Must have clean prior 12 months mortgage history (up to 1 late payment is acceptable).
• MI not required on loans > 80% LTV.  This is the awesome part!

Restrictions of Refinance Loans

• No Cash-out.  May roll in most closing costs.
• Existing 2nd mortgages must be subordinated & cannot be paid off in the refinance.
• No interest only mortgages allowed.

The above info may be confusing so please call us at AmeriBest Mortgage (321) 777-7277 to help you figure out if your home is eligible.  We may be able to help you even if your home is worth less than the value of your current mortgage!   This program has been extended until December 2013.