Financing in Colorado : Questions & Answers

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Rosejains, Home Buyer in Brooklyn, NY
Rosejains answered:
Question on Mortgage Insurance and Upfront MIP on FHA
"On January 8, the Department of Housing and Urban Development (HUD) announced they would reduce the annual mortgage insurance premium (MIP) that borrowers have to pay when using an FHA ... more
1 vote Share Flag Thu May 21, 2015 Financing in Denver
Emelinaregni…, Home Buyer in Hartsel, CO
Emelinaregnier answered:
is there a lien on this property?
There is no lien on 1316 Corral.
0 votes Share Flag Thu May 14, 2015 Financing in Hartsel
Brian Martuc…, Real Estate Pro in Washington, DC
Brian Martucci answered:
need a va loan but I have have bad credit and a low score of 550.. need to move soon... michelle from colorado
We require 620 credit scores so we cannot help directly. I do know there are lenders that will do loans down to a 580 score. But the terms and down payment may be higher. It may be wort ... more
0 votes Share Flag Tue May 12, 2015 Financing in Colorado Springs
Rich Pinckney, Real Estate Pro in 80109
Rich 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
Sally May, Home Buyer in Tampa, FL
Sally May answered:
Can VA partial remaining entitlement be used to lower a downpayment from 20% to 15%, without incurring PMI or increased rates?
VA mortgage benefits that only come with a VA mortgage:
Easier qualification standards
Less strict credit and income standards
No down payment required
Bad Credit Score VA loans Dow ... more
0 votes Share Flag Thu May 7, 2015 Financing in Denver
Kyle Foster, Real Estate Pro in Englewood, CO
Kyle Foster answered:
Conventional fixed-rate mortgage for residential property; mortgage broker is telling me that he won't order the appraisal until after inspection.
It is definitely in your best interest to wait to schedule the appraisal until after you have passed inspections. Appraisals aren't cheap and you will regret ordering and paying for it ... more
0 votes Share Flag Thu Apr 30, 2015 Financing in Aurora
Silvia Oliva, Real Estate Pro in 32174
Silvia Oliva answered:
What is the best way to begin rebuilding credit after a short sale? My husband and I don't have credit card debt, but we have medical bill debt.
Go to you bank and get a Secure Credit Card. You will need to deposit an amount of money ,let's say $500.00, they will lend you up to $500.00. You should never expend more the $250.. (5 ... more
0 votes Share Flag Tue Apr 21, 2015 Financing in 80247
Silvia Oliva, Real Estate Pro in 32174
Silvia Oliva answered:
had short sale 6 months ago can i get a mortgage now
There are lenders with special programs that can do a loan soon after a short sale under special circumstances. Suppose you lost your home because you lost your job but now you are back ... more
0 votes Share Flag Tue Apr 21, 2015 Financing in 80247
Silvia Oliva, Real Estate Pro in 32174
Silvia Oliva answered:
Are there companies that handle refinancing a rental home mortgage?
Most lenders can handle the refinancing of an investment property if the owner qualify for the loan.
0 votes Share Flag Tue Apr 21, 2015 Financing in Aurora
Tony Garcia, Real Estate Pro in Charlotte, NC
Tony Garcia answered:
How quickly from approval to closing for a VA home loan in Georgia?
I am averaging about 21-25 days, assuming the borrowers are providing items in a timely manner. Let me know if you would like to discuss your situation.
0 votes Share Flag Sat Mar 21, 2015 Financing in Denver
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
Jerry Thomas, Real Estate Pro in Farmington Hills, MI
Jerry Thomas answered:
Construction loans
I might be able to refer you to someone. Check out my website, www.bestfhaconstructionloan.com.
0 votes Share Flag Thu Mar 12, 2015 Financing in Greeley
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
I am doing an FHA loan its suspended
Hi Bonnie-
Yes it is absolutely possible to receive approval after an underwriter suspended the loan. This happens all the time - probably because there was some missing information in ... more
0 votes Share Flag Tue Mar 10, 2015 Financing in 81005
Jan Baer, Real Estate Pro in Littleton, CO
Jan Baer answered:
i have great credit, but my partner's is wounded. how does that affect our borrowing power?
Speak with a lender to see if you qualify on your own, to purchase, since you have an excellent credit score, Good luck!
0 votes Share Flag Sun Feb 8, 2015 Financing in 80130
Jan Baer, Real Estate Pro in Littleton, CO
Jan Baer answered:
I just tried to refi with USAA and the estimator came in 10000 dollars less than i bought it for a year ago, I did tons of work to this house:(
Try again in 2015 and you will see your house may now be in positive equity. Markets across the USA have greatly improved since 2011 and the comps may support your remodel and refinance ... more
0 votes Share Flag Sun Feb 8, 2015 Financing in 80130
Jan Baer, Real Estate Pro in Littleton, CO
Jan Baer answered:
What is a homepath renovation mortgage?
Perfectly answered by Andrew Martinez, Loan Officer, below.
Check out the following web sites for more info on Homepath products:
http://www.fanniemae.com/homepath/financing/index.jht ... more
0 votes Share Flag Sun Feb 8, 2015 Financing in 80130
Jan Baer, Real Estate Pro in Littleton, CO
Jan Baer answered:
Had a short sale 6 years ago. We need loan of $940,000, 20% down. My husbands credit score is 719. 2 lenders say we need 30% down? Is this right?
Hi Rachelle, Did you get this question answered by a lender? Please let me know if you need a list of good, local loan officers for you to speak with about your mortgage needs, Cheers, ... more
0 votes Share Flag Sun Feb 8, 2015 Financing in 80130
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