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 Post subject: mortgage refinance
PostPosted: Mon Feb 04, 2013 11:36 am 

Joined: Mon Feb 04, 2013 11:26 am
Posts: 1
I have a pole barn building with a basement and I cannot get a fixed rate refinancing my mortgage. Fannie mae wont touch it because of metal siding, freddie mac wont touch it because i live in a rural area and there are not any sales of these homes in the surrounding fifteen miles. Am i going to find any lenders that will give me an in house loan that will give me a fixed rate?


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 Post subject: Re: mortgage refinance
PostPosted: Mon Feb 04, 2013 12:29 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1214
farmboy wrote:
I have a pole barn building with a basement and I cannot get a fixed rate refinancing my mortgage. Fannie mae wont touch it because of metal siding, freddie mac wont touch it because i live in a rural area and there are not any sales of these homes in the surrounding fifteen miles. Am i going to find any lenders that will give me an in house loan that will give me a fixed rate?

Did you try a small, community bank? Usually they will be more open to your situation but probably have more stringent requirements like larger downpayments, higher credit scores, more collateral, etc.

Another option is the Farm Credit System. They cater to people like yourself who don't fit the standard mortgage profile of Fannie & Freddie.

Hope this helps.


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 Post subject: Re: mortgage refinance
PostPosted: Mon Feb 04, 2013 2:57 pm 

Joined: Sat Jun 06, 2009 11:49 pm
Posts: 268
Location: Cincinnati, OH
Exactly what Tightwad said.

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T.C. Strait
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NMLS ID 164070
Ohio Mortgage Solutions
Ohio FHA Mortgage


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 Post subject: Re: mortgage refinance
PostPosted: Tue Feb 05, 2013 7:00 am 

Joined: Fri Jan 18, 2013 7:21 am
Posts: 95
Location: New York
Exactly right. I would also add checking out your local credit union

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