Financing in 30009 : Questions & Answers

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Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
For FHA streamline refinancing, if I pay down 22%, i.e. 78% remaining of original FHA loan value, do I have to pay MIP for 5 years for a 30 year loan?
On an FHA mortgage, HUD requires that MI be collected for a minimum of 60 months on that particular mortgage. When you refinance, the 60 month clock starts over since it is technically ... more
0 votes Share Flag Wed Jan 23, 2013 Financing in 30005
Rick Musto, Real Estate Pro in Alpharetta, GA
Rick Musto answered:
Looking to Refinance - any reliable/honest recommendations?
I would recommend a good mortgage broker. They have multiple lenders and usually have a program that fits your specific lending needs. One of the firms that I use is Buckhead Home Loans ... more
0 votes Share Flag Wed Jan 23, 2013 Financing in 30022
Edconverse, Real Estate Pro in Johns Creek, GA
Edconverse answered:
Two years out from my BK and all payments made on time since except two car payments I made late right before I paid it off. No hope for FHA ever?
Please call me . I can get you into a house now. 404-936-8980 Ed Converse
0 votes Share Flag Mon Jun 11, 2012 Financing in Alpharetta
Brian Berman…, Real Estate Pro in Atlanta, GA
Brian Berman 678-564-1522 answered:
Is it better to refi with the bank holding your mortage currently or with a new bank? Looking to from 30yr fixed at 5% to 15yr fixed (wells fargo)
Your best option is to go with a broker signed up with Wells Fargo - you will get better rates and better service with about half of the costs. If you need a quote just let me know - B ... more
0 votes Share Flag Tue Jun 5, 2012 Financing in 30022
Timothy Brown, Real Estate Pro in Alpharetta, GA
Timothy Brown answered:
we currently have an 80/20 interest only loan that works for us as we pay principal when our annual bonus comes. are these still around?
Yes, the loan is still around, the question is your value still around. Interest only loans are available but if your value has fallen faster than your principal pay downs, you may have ... more
0 votes Share Flag Sun Jun 16, 2013 Financing in 30022
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Can I refinance again under HARP program?
No.

The rest of this is filler because I need 25 characters.
0 votes Share Flag Thu Nov 14, 2013 Financing in Alpharetta
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
Will the bank let me carry two mortgages?
It all depends on your qualifying monthly income. Your total debts (including both mortgage payments) should not exceed 45-50% of your gross monthly qualifying income.

Regards,
Ro ... more
0 votes Share Flag Wed Nov 13, 2013 Financing in 30004
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
How has your experience been with BOA lately? I have a deal over there now. The internal communication between LO and Underwriting seems to horrible!
With BOA the key is constant and frequent communication, you need to be aggressive, i call daily at least once a day and follow it up with an email. You need to be nice but firm as you ... more
0 votes Share Flag Sat May 21, 2011 Financing in Alpharetta
Emelia Sanch…, Real Estate Pro in Ontario, CA
Emelia Sanchez answered:
DURING THE NACA WORKSHOP IN ATLANTA, PEOPLE WAS TALKING ABOUT HOW THEIR CURRENT MONTGAGE NOTE WAS LOWERED.DOES NACA HELP WITH LOWERING MORTGAGE NOTE?
Newhouse,

Everyone is different and depending on who owns the note will be getting a different result. A recent example of receiving principal reduction are notes that were held by W ... more
0 votes Share Flag Sun Jul 18, 2010 Financing in 30022
Isabel Elses…, Real Estate Pro in Lawrenceville, GA
Isabel Elsesser, R.E. Pro answered:
My wife and I are looking to buy a home in Florida; one of us has above average credit and one does not...
Chris,

We have no such law in GA.

Whoever has the income and the good credit can quailify for the loan.
Just one of you can obtain the loan.

Isabel Elsesser, Realtor
www.isab ... more
0 votes Share Flag Thu Mar 25, 2010 Financing in Alpharetta
Michael Hamm…, Real Estate Pro in 30078
Michael Hammond answered:
08's schedle c was more than this yrs but my agi still the same amount due 2 my other job. will having less income from my bus this year be a?
The FHA guidelines got stricter recently and mortgage qualification standards seem to changing at least weekly, Roma. Please consider calling one or both of our preferred lenders below ... more
0 votes Share Flag Fri Mar 5, 2010 Financing in Alpharetta
Luke Allison, Real Estate Pro in Asheville, NC
Luke Allison answered:
Is a 679 credit score good enough to get a loan? WHat about if I still have a bankruptcy on my record? It willl fall off in 1.5 years.
I wish everyone came to me with your scenario. Yes, you shoudl probably be fine - especially for FHA financing. Your main concern will be that underwriters do not like to see many lat ... more
0 votes Share Flag Thu Oct 22, 2009 Financing in Alpharetta
Sam Nueman, Home Buyer in Charlotte, NC
Sam Nueman answered:
Financing for short sale?
Andy,
Banks want to make sure your can comfortably handle both mortgages and that your debt to income ratio is satisfactory to them; however, I would not advise you to have 2 mortgages ... more
0 votes Share Flag Thu Aug 13, 2009 Financing in Alpharetta
Diane Menard, Real Estate Pro in Acworth, GA
Diane Menard answered:
Looking for a good broker for a $510K loan with 17% down.
You can try Kim King @ SunTrust Mortgage, She does 90% of my loans for me. Very Happy with her services.

Her number is 770-617-6694
0 votes Share Flag Wed Jul 21, 2010 Financing in 30022
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