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[quote=Anonymous][quote=Anonymous]OP here again.  Finally contacted our lender and they said when they looked it up in Fannie Mae's system, it said we were not eligible.  He couldn't tell me exactly why but speculated it was because we had lender-paid MI instead of PMI.  He offered some pretty good rates for a conventional refi (3% even for a 15yr) with trad. PMI but they require 10% equity which is more than we can do right now.

HOWEVER, I then called Quicken Loans, because I was a little skeptical about the "did not qualify", and lo and behold, Quicken Loans says we DO qualify.  They are able to convert our lender-paid MI to traditional PMI easy, and their system values our home a fair bit higher than Zillow so we'd actually have an LTV of 95%.  The loans he quoted me require <$1K down but the rates were much worse than I was hoping for--3.675% for a 20yr (with next to no reduction in our monthly pmt) and 3.99% for a 25yr (smaller than desired reduction in pmt).  Are those rates actually fair for now, or should I try elsewhere?

And if elsewhere, any recommendations?  No idea where to start looking.[/quote]

PP here with the brother - he also had the lender paid PMI which was supposedly the problem, but qualified for Harp 2. Call Ajay Datta at Fidelity Direct. He is the best and stuck with my brother who had a +6 interest rate and no end in sight- Ajay took great care of him. [/quote]

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