If the HOA is setup as a condo you will need to meet the condo guidelines no matter what (and this also applies on a conventional 20% down loan). Effectively no one can get a loan in that entire community until they get below the limits. I have come across very few that have such high investor ratios, but some can slip above the 15% delinquency rate depending on the month. Let me know if I can be of any assistance, our bank can close in as little as 2 weeks.
There may be some bank out there with a portfolio product, but I have not come across anything...... more
Many appraisers charge dependent upon sales price of a home. The more expensive the home - the more expensive the appraisal.
Often though - they are not making what is being charged. They may have to split the fee with the owner of the company - or - they are being paid a much lower flat fee by an appraisal management company.
I have some good appraisers that I am happy to pass along to you for Frederick, MD.
Shoot me an e-mail.
Associate Broker - 28 Years
If you are looking to refinance, you should probabily hold off on addiing her to the deed until the refinance is completed. If you just purchased a home, why were you even put in an adjustable mortgage with rates at industry lows. You should contact your lender and ask if they can modify your loan into a fixed rate now. It is worth the rty as it will save you alot of money in new closing costs.
if they will not, then contact a loan officer to refinance you, make sure there are no prepayment penalties or with teh new loan there is any seasoning requirements, let your loan officer know when you purchased and why you want to refinance.