DU Refi Plus with no PMI 

If you currently have a Fannie Mae loan (click here to see if you do) and you are not currently paying private mortgage insurance (PMI), the DU Refi Plus program will allow you to refinance into a new lower rate WITHOUT adding PMI regardless of the ratio of your loan-to-value (LTV). 

For example, let’s say that you purchased or refinanced a property in 2008 and borrowed 80% of the value of the home.  Now that property value has fallen to the point that you now owe 90% of the value of the home.  Prior to the release of the DU Refi Plus program, you would have to pay PMI on a new refinance loan since you are borrowing more than 80% of the current value of the home.  With the DU Refi Plus program you can refinance into today’s lower rates WITHOUT adding PMI to the loan! 

This initiative is part of President Obama’s stimulus package designed to help homeowners take advantage of today’s lower rates without being penalized by being forced to pay PMI on a new refinance. 

The maximum you can owe is 105% of the value of the home.  So, there is a limit as to how much you can owe relative to the current market value of the home. 

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.

Click Get Rates to get an online rate and payment quote under the DU Refi Plus program. 

Speak With A Loan Coordinator 

Would you prefer to speak with a Loan Coordinator over the telephone?  Please call us directly at   1-800-276-CYOL(2965) and choose option 1.  Or, click here to have one of our experienced representatives contact you directly.