Property Q&A in Bothell>Question Details

Aramat, Home Seller in Bothell, WA

I want to refinance my house and need to know how I can refinance and who I can hire to refinance who I can trust.

Asked by Aramat, Bothell, WA Wed Sep 29, 2010

I bought my house for $180,000 and owe $138,000 now. I have two renters, but I was told that if I refinance, the banks do not count the rent I am gettIng each month. My credit is 791. I need to find someone I can trust to help me figure out the best route to go to lower my monthly payment.

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Dear Aramat,

I can refer you to an amazing Mortgage Planner who works with real estate investors and can refer you. Please contact me directly.

Also, if this home is your personal residence and you are renting out rooms, the lender qualifies you on your income alone, and in my experience, they do not count the room renters.

The Mortgage Planner to whom I would refer you has access to millions in portfolio money, which means they do not have to follow FNMA guidelines and he may have a creative solution for you.

Warm Regards,
0 votes Thank Flag Link Thu Sep 30, 2010
Aramat, I know plenty of loan officers that can assist you. Give me a call or send me an email and I'll forward their information to you.

0 votes Thank Flag Link Thu Sep 30, 2010
I can highly recommend Kevin Smith 206-389-1100; I have worked with
him with superior results for over 15 years.
0 votes Thank Flag Link Thu Sep 30, 2010
I'm a licensed lender and Realtor. Rent counts, but is discounted to offset vacancies & maintenance. Rent must be reliable, verified over an extended period and must also be documented with leases.
Rates for Non-Owner Occupied are slightly higher than owner occupied, so where you end up depends on a number of factors. Your credit is excellent, so it's worth investigating. If I can be of help, call or email anytime.
Dan Tabit
0 votes Thank Flag Link Wed Sep 29, 2010
Hi Aramat, refinancing has a lot of factors involved. If you want my trusted mortgage advisor is Hans Illingworth from Cobalt - you can email him. He is a solid, well respected professional. Tell him I mentioned his name. Good luck!
0 votes Thank Flag Link Wed Sep 29, 2010
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