PRINCETON'S REFINOW PRODUCT ALLOWS YOUR BORROWERS WITH AN INCOME AT OR BELOW 80% OF THEIR AREA MEDIAN INCOME (AMI) TO TAKE ADVANTAGE OF HISTORICALLY LOW RATES TO REFINANCE THEIR EXISTING FANNIE MAE-BACKED LOAN.
With the RefiNow program, your borrowers can now refinance their existing Fannie Mae-backed loan effortlessly.
Eligible homeowners with qualifying income no greater than 80% of the area median income (AMI) for the subject property location can take advantage of the RefiNow program.
Some of the major benefits for your borrowers include:
Your borrowers have the opportunity to lower their interest rate and reduce monthly payments.
If an appraisal is required, a $500 credit is granted to your borrower at closing.
Have a special scenario? Run it by our Ask Underwriting desk!
TO QUALIFY FOR REFINOW
For your borrower to qualify for Princeton's RefiNow program, they must meet the following criteria:
Income must be at or below 80% of the Area Median Income
Borrower must have a mortgage backed by Fannie Mae
1 Unit Principle Residences
Single family, Condo, Planned Unit Development, Double-wide Manufactured Homes