Gary Miljour

"Mortgage Lending for Tempe, Arizona"
  • I'm a:
  • Real Estate Professional
  • Company:
  • Cherry Creek Mortgage Company
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  • Phone:
  • (480) 214-2818
Gary Miljour,  in Tempe
  • 32 Answers
  • 10 First Answers
  • 8 Useful Answers
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About Me
Trusted Advisor

Gary Miljour has over 15 years of experience in the Real Estate and Mortgage Services Industry. His studies in business management have prepared him to consult, educate and guide his clients into solid mortgage solutions. You can put your trust in Gary to get the job done.
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Gary Miljour's Questions (0)
Gary Miljour's Answers (32)
Gary Miljour answered:
It depends really on what type of visa you have. If you have a work Visa and will be here for 3 additional years, than I know you can use FHA financing. However if it is not a work visa then the answer would be no.

I have a client right now that is not a US citizen and is not a permanent resident alien yet and I just approved her with an FHA loan.

Please feel free to contact me so we can talk further. - Sat Nov 8 2008, 15:49
It depends really on what type of visa you have. If you have a work Visa and will be here for 3 additional years, than I know you can use FHA financing. However if it is not a work visa then the answer would be no.

I have a client right now that is not a US citizen and is not a permanent resident alien yet and I just approved her with an FHA loan.

Please feel free to contact me so we can talk further. - Sat Nov 8 2008, 15:49
It depends really on what type of visa you have. If you have a work Visa and will be here for 3 additional years, than I know you can use FHA financing. However if it is not a work visa then the answer would be no.

I have a client right now that is not a US citizen and is not a permanent resident alien yet and I just approved her with an FHA loan.

Please feel free to contact me so we can talk further. - Sat Nov 8 2008, 15:44

Question on FHA Mortgage and PMI

Gary Miljour answered:
Carlos,

As a mortgage lender who specializes in FHA loans, I can answer this question for you. On FHA loans you pay an upfront MIP premium which is financed into the loan. That represents 1.75%. You also pay monthly MIP using a factor of .55 What that factor means is if your mortgage balance was $100K and you multiplied that by a factor of .0055 your annual MIP would be $550.00 a year. That amount is then divided into 12 equal monthly MIP Payments ($45.83) a month. You will pay this as part of your payment as an escrow item by your lender. So it will be included in the mortgage Principal, Interest, Taxes and Insurance (both MIP and Hazard) (PITI). If you have more specific questions, please feel free to contact me further. - Fri Oct 24 2008, 08:01
Gary Miljour answered:
It does sound like you were pressured. As a mortgage lender, I can tell you that interest rates go up and down all day long like the stock market. For the last 8-7-9 days, rates have been much lower, but I do not feel they will jump that high in one day to think things over. Over the next 3 months rates could go up but I would not let the interest rate dictate your decision alone. - Thu Sep 18 2008, 08:35

Are there any banks still accepting the ameridream program?

Gary Miljour answered:
Rachel,

You really missed out on this opportunity. My company is not because we need the file funded and recorded by 9/30/2008. 3 week closing is pretty rushed. There are alternatives to Ameridream. Feel free to call me if you want more insight on some alternatives. - Tue Sep 9 2008, 12:33

Legal Owneship of the home

Gary Miljour answered:
Rick,

Please see my other answer to your other question. You have legal ownership once the title company records the deed from the seller to you the buyer. However all funds need to be deposited such as your funds, the loan funds etc. If you bought a bank owned property, the delay is probably the seller not fullfilling the terms of the contract. - Sat Aug 30 2008, 20:53
Specialties
Homeowners First

The purchase of your first home will be one of the largest investments you will ever make. You will need a plan and some thorough guidance along the course of that long term investment. Gary is the trusted advisor that you can rely on for education and guidance.

Specializing with the first time homebuyers, Gary has an expansive knowledge of programs such as FHA, VA, government bonds, little down payment, or zero down payment loans. He presents customized options and services for all of your financing possibilities.

Gary believes it is of the up-most importance to keep the client informed throughout the entire transaction. He meets with clients in person, sets flexible appointments and will work around eve the most hectic schedule. Gary is there at your side from the beginning of the loan application to signing the final papers at the title company.

Gary's years of experience and knowledge allow him to help with every facet of the transaction. With his expansive network of reliable, trusted professionals you can count on him to direct you to the right service provider.
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