DU Refi Plus with a second mortgage

So you are looking to take advantage of today’s lower rates, but you have a first and a second mortgage.  If you have a Fannie Mae loan (click here to see if you do) and you owe less than 105% of the current value of the home on the first mortgage, then the DU Refi Plus program can help you!

The DU Refi Plus program allows you to refinance an existing first mortgage into today’s lower interest rates with NO LIMIT on the total amount you owe on the property.  Your existing second mortgage will remain in place and only the first mortgage will be refinanced into the new lower interest rate and payments. 

There is no maximum combined loan-to-value (CLTV) ratio under the DU Refi Plus program.  As long as the first mortgage is less than 105% of the current value of the home, there are no limitations on the dollar amount or CLTV of the second mortgage.

Click here to visit Fannie Mae's property lookup website to see if your property is eligible for refinance under the DU Refi Plus program.