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PRINCETON WHOLESALE PRODUCTS

REFINOW

Your Borrowers Can Take Advantage of Historically Low Rates

REFINOW
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.

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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.

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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.

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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:

620

Minimum FICO

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

No missed mortgage payments in the past 6 months.
No more than one missed mortgage payment in the past 12 months.

97%

Max LTV

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