Financing in Somerset : Questions & Answers

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George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
Can I get FHA loan on L1 visa without EAD?
Yes Carla you can be considered for several loan programs with your L1. Let me know if you have any additional questions.

Best of Luck!
0 votes Share Flag Sat Nov 1, 2014 Financing in Somerset
Aruna Mettler, Real Estate Pro in Somerset, NJ
Aruna Mettler answered:
Can I get FHA loan on H1B visa without separate EAD? Urgent pleaseeeeeee!!!!!!!! Any Mortgage consultants working with Major banks please contact me?
Mr. Chowdary,
Thanks for a wonderful question that has been on people's minds with H1B Visa. I have done several transactions with clients on H!B Visa. It is not a problem at all. ... more
1 vote Share Flag Fri Dec 7, 2012 Financing in Somerset
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
15 years Vs 5/1 arm
Yeah, I am with Chad, seems difficult to get mortgage insurance on the condominium project you live in - the 5/1 ARM sounds like it's from a portfolio lender who doesn't abide ... more
0 votes Share Flag Thu Sep 15, 2011 Financing in 08873
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
I am in process of refinancing my house. what best way to have the house apprised to get maximum value?
Hi, Homeowner. the lender you go to is required to now order the appriasal company who in turns selects the appraiser to do the actual appraisal. You also need to know that all apprai ... more
0 votes Share Flag Thu Aug 18, 2011 Financing in Somerset
Jeanne Feeni…, Real Estate Pro in Basking Ridge, NJ
Jeanne Feenick (908) 337-0943 answered:
How does having clean title to a property benefit the owner apart from its role in a sale? Or, what problems may arise as a result of cloudy title?
A "cloudy" title may stop you in your tracks when the time comes to sell. Title insurance looks back, and assures the new owner that title is clear and that there will be not ... more
0 votes Share Flag Tue Jul 12, 2011 Financing in 08873
Jeanne Feeni…, Real Estate Pro in Basking Ridge, NJ
Jeanne Feenick (908) 337-0943 answered:
Can Seller's assist be used for escrowed taxes at closing?
Agreed - used to be that a broader defintion "closing costs, prepaids and escrows" was used and could recoup additional costs, but no more. Restrictions on what can be reflec ... more
0 votes Share Flag Sun Jul 10, 2011 Financing in 08873
Vishal Maher…, Real Estate Pro in New Jersey
Vishal Maher Cell 732-277-9321 answered:
I want to buy a home in new jersey. A mortgage guy told me I can buy a home in new jersey and use fha for a house that costs 450,000.
Dear Patz,

Not a mortgage broker myself, however, while speaking with different mortgage consultant, I found that the loan amount can be upto $625k in FHA per new rule. Also, any loa ... more
0 votes Share Flag Thu Jun 24, 2010 Financing in 08873
Michael Adams, Real Estate Pro in 08901
Michael Adams answered:
Who is an expert FHA mortgage person in Somerset NJ?
Hi Terri,
I have several lenders that I could recommend, however you expressed the desire to visit a local office. That leaves Montgomery Mortgage Solutions. It's located in Belle ... more
0 votes Share Flag Wed Jun 2, 2010 Financing in Somerset
Sandra Reier, Home Buyer in Somerset, NJ
Sandra Reier asked:
Quail brook- Does anyone have a list of the phases with names of quailbrook developments. We are in need of a list of which each phase belongs to for FHA approval They are listed as PHASE 1-7 however each development has a name not a Phase. If you know where I can get the info…
0 votes Share Flag Mon Feb 8, 2010 Financing in 08873
NonRealtor, Other/Just Looking in 23456
NonRealtor answered:
FHA loan w/ 3.5% down now, or wait a few years to save up 10% down/
Save your money, wait a few years, house prices are still declining. Good Luck
0 votes Share Flag Tue Jun 23, 2009 Financing in 08873
Debbie Barna…, Real Estate Pro in 29301
Debbie Barnard answered:
I heard a FHA loans are better vs. private loans? Why is that? I have been approved for a private loan and i
I always recommed my clients check with more than one lender to see what is the best fit for them. You should do the same. Also. check out USDA eligibilty. (The lender can help you!) ... more
0 votes Share Flag Sat May 16, 2009 Financing in 08873
Robert Chome…, Real Estate Pro in San Diego, CA
Robert Chomentowski answered:
Does the amount of the down payment affect the mortgage rate?
The interest rate may not be higher for 10% vs 20% down, but you will have substantial monthly mortgage insurance with 10% down. Also, conventional loans are getting extremely difficul ... more
0 votes Share Flag Sat May 2, 2009 Financing in 08873
Corey Grushin, Real Estate Pro in Morris County, NJ
Corey Grushin answered:
Can I convert my HELOC to another type of loan not tied to the equity on my home prior to closing?
Dear John the short answer is no you can't. That loan is tied directly to the current property you own and is an official docuemnt. It has to be paid off to clear title.
Your options ... more
0 votes Share Flag Wed Apr 9, 2008 Financing in 08873
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