Financing in Denver County : Advice

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Arvin Sahaki…, Real Estate Pro in Glendale, CA
Arvin Sahakian answered:
Question on Mortgage Insurance and Upfront MIP on FHA
Hi San Fran,

Great Questions: If you are paying a Mortgage Insurance Premium (PMI) every month, then you likely attained a Conventional Loan with less than 20% equity in the property ... more
0 votes Share Flag Fri Jul 24, 2015 Financing in Denver
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
Can anyone direct me to a private/hard money lender that will provide @ 75% AVR (or more) short term loans in the Denver Met area?
75% of ARV is a very high LTV. 65% is more common but also considered an aggressive LTV. The higher the LTV the higher the interest rates and points in most cases.
0 votes Share Flag Thu Jul 9, 2015 Financing in Denver
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
How quickly from approval to closing for a VA home loan in Georgia?
Hi Santana14,

It really depends on the appraiser. Most appraisals are coming back in 7-10 days but I have had 2 VA appraisals in the last 8 months that took 30 days!

If the turn a ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in Denver
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
Can VA partial remaining entitlement be used to lower a downpayment from 20% to 15%, without incurring PMI or increased rates?
Hi Jonathan,

Using your example, here is how a VA 2nd tier entitlement would work.

What if it's a VA loan of, for example $210,000 on a $250,000 unit. I bring $40,000 DP plus my V ... more
0 votes Share Flag Tue Jun 16, 2015 Financing in Denver
Richard Pinc…, Real Estate Pro in Lone Tree, CO
Richard Pinckney answered:
Are there any lenders who will approve a jumbo loan ($475k purchase price) with 5% down? I would entertain a piggy back if that is an option.
If you want to run some scenarios without feeling pressured or making a commitment on the spot, I highly recommend you check out my preferred lender’s free app from Eagle Home Mortgag ... more
0 votes Share Flag Tue May 12, 2015 Financing in Denver
Michael Glist, Real Estate Pro in Highlands Ranch, CO
Michael Glist answered:
Purchasing price potentially well below appraisal
Christopher,
This will not give you additional options as the loan is all based on the lower of the appraisal or the purchase price. The option you have with this scenario would be to ... more
0 votes Share Flag Mon May 11, 2015 Financing in 80204
Santana14, Home Buyer in Cumming, GA
Santana14 answered:
How fast can an FHA loan close?
How quickly from approval to closing for a VA home loan in Georgia?
0 votes Share Flag Sat Mar 21, 2015 Financing in Denver
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
Does anyone know a hard money lender in and around Denver that can do 70% LTV at around 10%?
15% seems way too high. 10-12% is pretty much the norm in San Diego.
0 votes Share Flag Fri Mar 13, 2015 Financing in Denver
Craig Bosse, Real Estate Pro in Concord, CA
Craig Bosse answered:
Jumbo Loan Mortgage in the Denver Area 4 years Post Short Sale
Hello,

We have a few different programs. One is our "2nd Chance" that has no waiting period after Short-Sale and another more traditional (fixed options) Jumbo loan that requires a 4 ... more
0 votes Share Flag Wed Feb 4, 2015 Financing in Denver
Bryan Horn, Real Estate Pro in 92101
Bryan Horn answered:
How much of a difference does being a veteran make when becoming a first-time homebuyer?
VA loans are a fairly easy to get with Wells Fargo since they are the biggest lender in the land. Plus Wells Fargo does not charge any loan processing or underwriting fees.

VA mortg ... more
0 votes Share Flag Sat Jan 10, 2015 Financing in 80209
Robert McGui…, Real Estate Pro in Denver, CO
Robert McGuire answered:
I signed a quit claim after divorce but my name is still on the ex's mortgage. Will this affect my ability to buy on my own?
Rgiunck,

I would say yes from what I am reading in your question. I would lender and also get counsel from a real estate attorney to get the best advice on how to move forward. You r ... more
0 votes Share Flag Mon Nov 3, 2014 Financing in Denver
Rollin Gosney, Real Estate Pro in Youngstown, OH
Rollin Gosney answered:
what is fannie mae's HOMEPATH RENOVATION MORTGAGE FINANCING?
This Renovation loan is actually available for investors also. This is not just for primary residence. 5% down is the new requirement. Total repair amount is no more then $35,000.
0 votes Share Flag Sun May 25, 2014 Financing in Denver
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
What is the minimum down payment for Fannie Mae Homepath Renovation Mortgage Financing?
The down payment for a FNMA Homepath Renovation Loan is 5% for owner occupied borrowers. Great loan! No PMI and no Appraisal required on Homepaths, close in 30 days. Let me know if you ... more
0 votes Share Flag Thu Apr 10, 2014 Financing in Denver
Robert McGui…, Real Estate Pro in Denver, CO
Robert McGuire answered:
Our bankruptcy has been discharged for 2 years. Our credit is good. Would we qualify for the homepath renovation program for a forclosure home?
Zina,

This is an old question, but many are asking it. The general rule from my lenders is 2y years for an FHA mortage unless there are extenuating circumstances that can be consider ... more
0 votes Share Flag Sat Mar 29, 2014 Financing in Denver
Daniel Dixon…, Real Estate Pro in Denver, CO
Daniel Dixon | Dixon Group answered:
How soon after bankruptcy can I buy a home?
There are some lenders I work with that can get you qualified 12 months after the BK is discharged, depending on the circumstances of the BK. Was your BK due to a medical or family har ... more
0 votes Share Flag Mon Feb 24, 2014 Financing in Lakewood
Matt Brozek, Real Estate Pro in El Dorado Hills, CA
Matt Brozek answered:
I'm looking for a physician's loan program for a couple of my clients. Does anyone have a good experience to share with me in CO? Thanks
BBVA Compass offers special financing for Doctors and Dentists under our Professional Program. Low down payment and no Mortgage Insurance for loans up to $1.75M. Product available for ... more
0 votes Share Flag Thu Oct 24, 2013 Financing in Denver
Ritchy Haynes, Other/Just Looking in Denver, CO
Ritchy Haynes answered:
Do you have to be pre-qualified to start the homebuying process?
No, however most agents would want to know you have met with a lender to discuss various financing options, as well as to determine overall affordability. Contact me if needed I would l ... more
0 votes Share Flag Tue Oct 22, 2013 Financing in Denver
Robert McGui…, Real Estate Pro in Denver, CO
Robert McGuire answered:
Any Suggestions with the current Govt problems.... For an alternative to FHA loans? I have heard of a 3% down conventional program
Darrick,

Good answers below. there are some conventional programs available now with 3% down and no MI. The market is fluid and these programs change from time to time and have certa ... more
0 votes Share Flag Sat Oct 12, 2013 Financing in Denver County
Randall James…, Real Estate Pro in Dallas, TX
Randall James Yates answered:
What happens after you've applied your loan?
You apply with another lender to make sure your getting the best deal, I can help you shop rates with a couple lenders in Denver.
0 votes Share Flag Sat Sep 28, 2013 Financing in Denver
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