Financing—questions & answers, advice and opinions page 47

Looking for Portfolio Lender for 2-4 Units non owner occupy for Los Angeles area property. 1/6/2013
Want to purchase 2-4 units Los Angeles area. I do not qualify for conventional loan, because my total loan to vaulue is too high. I have a high Fico score. Is there any portfolio lender that will lend…
What is the different between apply CALHFA to approved lender and apply through mortgage agent / brokerage?
first time buyer and with budget 500-650k house, 5-10% down, FIC0 scores over 760. Thank you and appreciate any anwser
House is 66% underwater. We can afford payments. Would love advice on best exit strategy?
Hello, and thanks for any good advice! We bought our home for $160K in 2007 and it currently Zillows for $54K. We have very good credit, no late payments. We are paying about $1000 a month of interest…
Can I get a multi-family VA loan... using a combined income.
My daughter and her family and my wife and I are considering buying/building a 2 family dwelling! It will be one dwelling, but designed like a duplex. They will live in one side and we in the other! My…
Hello, Would it be possible for a newly qualified veterinarian to buy a coop/condo in brooklyn before I find a job?
I am tired of renting and want to buy property asap after I graduate. Is this possible or am I just dreaming a dream? credit score 686, with $30,000 saved for down payment.
Lenders to foreign investors?
Are there lenders (private or non-conforming) in Jacksonville willing to work with non-residents to fund investment properties? Any of them deal with commercial properties? Thanks, Gary
Jumbo Loan - three tradeline rule?
I'm a first time buyer shopping in an expensive area. We are shopping for a jumbo loan. We have great credit scores (both have middle scores 790 ), 20-25% down payment, and sufficient income (the…
Private mortgage lenders in Chicago NW suburbs
I am an investor and I have a HUD contract signed. The conventional mortgage didn't go thru due to running water and kitchen issue. This property is not eligible for HomePath and other loans . I…
Are there any Hard Money Lenders in the Macon/Warner Robins area?
Not interested in any conventional loans.
Who will help me to resolve my High Balance loan? I have 1st and 2nd FRM. 1st balance is 576K and 2nd balance is 72K?
I know the rates are pretty good now a days but my home value( Irvine, CA) is showing me in the range of $660k- $690k. My FICO is excellent around 780 and i do not want to miss this lower rate opportunity…
Funds for refi on 2 houses in GA
Looking for funds to refinance mortgages on 2 rental property houses in GA. Loan to value is 50/50 on each, payoff is 35K we have 5 mortgages, excellent credit. will consider private investor. willing…
Conventional loan refi, going from 5 year ballon to 30 yr with 20% down. Is there occupancy time requirement before we could sell the house.?
Asking this question because we did try to sell the house last year but didn't get any bites so decided we better refi while rates are low instead of waiting until the last minute ( date balloon is…
Employment history for FHA loan
My loan office said everything is good other than my employment history. I dont have any gaps in employment but i switched 4 companies in last 2 years for higher pay. I am just 7 months with my current…
Wondering if you know of any portfolio investment financing
We own a portfolio of over 10 single family homes with long term leases. We are trying to close another property asap and wondering if you know of any portfolio investment financing banks/companies with…
Bank of America Appraisal Issues - Landsafe
The first appraisal came in 35K less than contract price and was exterior only. BoA, to their credit, paid for a second appraisal since a home purchase needs an int inspection (duh!). The second appraiser…
can you use the first time home buyers 20% down payment assisstance program with a 590 mid score?
I currently have a 590 mid fico with no foreclosures or bks and I want to know if there are any fha programs that I would qualify for with a 20% down payment assisstance. I am looking for a purchase of…
Any recommendation on the cheapest HO6 condo insurance policy providers for California?
The only reason I need this is for refinance, for 20% of property value - which comes out to about $110K. I'm not really interested in peace of mind issues - I sleep well at night without it, but I can't…
Looking for lenders of VA mortgages for someone who has had a short sale in the last couple of years. The co-applicant has excellent credit. Carla
One applicant is a Veteran where as the other is not but this would be a joint mortgage application.
How much money will I need to put down to buy a house or condo with no income verification? Currently a student but tired of renting.
I receive money from the VA to go to school, but am not working and currently do not want a job. My credit is good. and I have assets. Looking for a house or condo in the 80-100k range.
Can proceeds from selling jewelry be used as down payment?
Amount is about $ 20,000 and what sort of documents should be provided?
Is it possible in today's mortgage market to get 30yr fixed interest loan with 4% interest, by only paying 5% as a down payment.?
Hi there, We are wondering should we buy a house now, or wait a year to save for a better down payment risking higher mortgage rates and house prices. To be more specific, what I am trying to figure…
Rental options while in Chapter 13?
I am currently in Chapter 13 bankruptcy and need to move in the summertime, June/July of 2013. Some landlords I have talked to want to see the bankruptcy discharged but this may not happen by then since…
What are my options if my family is growing and need to buy a second primary home, i currently have a condo w fha loan. I have great credit, dp 15k
I can put 15k down, and wish to rent my current home, i have a home i own in banning ca, i currently rent as well, had to put it to rent since i relocated for my job. thanks in advance
Need a Commercial Mortgage Lender in Las Vegas?
I am looking to buy few duplex, fourplex and or small apartment building. If any one do financing this kind of commercial property's please give me a call. You can reach me at (702) 769-4808
If I stop my mortgage for 3 months, What are the chances of refinancing or modifying my loan if I do have equity in my house?
I am having a hard time making my mortgage payments. I've been thinking about stoping the payments, saving some money and refinance to lower my interest and perhaps getting a to 40 yr loan. My concern…
First time home buyers, 2 co-applicants, rebuilding credit, long job time
Is there a place that could help us get financing? We are an unmarried couple, I am just now establishing credit, his is a bit tarnished but not horrible. I have 20% of my purchase price available for…
Down Payment Assistance Program
i was told by a friend that there are programs that lend up to 92k to 3% ...with strings attached of course. all in all, do any of you professionals have any advise on this programs? are they not worth…
Any idea what the current cost/sq.ft for new construction might average now for a custom-build in Puako, on Kaua`i?
I have house plans, but had to delay construction since I last got a quote in 2006 when it was roughly $200.
Ga.Dream Question/ DCA Request
Currently I been seeking the grant for the Ga. Dream, I was asked to provide information for non qualifying co borrower because we share an account, Do that mean that they will have to pull credit for…
what lender will let me get a home loan with a dti 55% and credit score of 669?
is there a way i can get a home loan with dti 55%, but good credit? i do not understand how my dti is so high, but i was told it is. i have enough money to pay for a morgage loan monthly
Is Mortgage Insurance Deductible in 2012?
Is Mortgage insurance deductible in 2012. When getting my FHA loan, we were sold on the opportunity to write off MI. However, I have heard that congress did not extend that for 2012. It has made me…
We have a credit score of 716 with one credit bureau (TransUnion). Can we get a fixed mortgage w/ 10% down?
We own a home in midtown Tulsa and are wanting to sell and then buy a fixer upper, 1920's home. We want as much money available as possible for the refurbishment of the fixer upper.
We have a deed in lieu and need help with FHA
Hello, we back in 2010 filed CH-7 BK and it was discharged in 2010. We did not re-affirm the house because of the current state of the economy in 2011 we started talks with our lender about HAFA (Homeowners…
Monthly cost of owning a condo
My husband and I are looking to buy a condo in the price range $80,000-100,000 (with less than 20% deposit) in Strongsville, Ohio. My husband would be a first time owner, I was previously the second co-signer…
Self employed need help getting a mortgage loan
i have a question i am self employed I purchased the buisness from my father in jan 2012 i have owned for a year and my net income for the 2012 year is 51,000 and my gross is about 98,000. but i have been…
We have an upside down mortgage on a rental property. What are the options?
Our rental property has dropped from $333,000 to $155,000, and we can't afford to hold on to it. How do we get rid of the property? Can't afford to keep making monthly payments.
Getting married soon. Families/friends on both sides are giving us money for our first home. Any issues with our bank or the IRS?
As a gift for our wedding, family from both sides are giving us money for us to buy our first home. I told them to write us checks instead of cash, so we can use it towards buying a house. We're expecting…
Is it possible to get mortgage when working on L1 visa?
Hi, I have been working in US on L1 visa since March 2012 (visa valid until March 2015). My company has already initiated process for green card. I have a good credit scrore (720 ), $100k annual income…
im looking for a small business loan to purchase a business in gatlinburg... can someone help me??
-- This question was asked from this property: http://www.trulia.com/property/3092979843-875-Ski-Mountain-Rd-Gatlinburg-TN-37738
FHA offset carry of rental
FHA Underwriting question--I am purchasing property, want to use FHA and wish to keep current prim res. and lease it since it would create pos cash flow. Current res.does not have equity. I have good W-2…
DO YOU HAVE MORTGAGE FINANCING QUESTIONS?
“Mortgage Day” at Chase on January 22, 2013 (Tuesday). Please reach out to all your clients, realtors, friends and family. The event will be held at 95th and Flagler Branch. Let’s…
Mom on note...mom and daughter on deed and mortgage...mom passes away....can daughter re-finance?
daughter lives in home...wants to keep the home....has good credit...has income....does not want to go through the assumption or modification program...actually can't because it is a Freddie Mac -conventional...and…
Need help from someone experienced in working with Quicken loans
I'm at the final steps in refinancing my conventional loan. In the beginning I was told I would get $1500 cash back but after looking at the hud I would have to come in with money instead because…
Is there such a thing as a "no paystubs/yes tax returns" newly self employed mortgage?
Fledgling part-time investor w/2x 4plexes in LA. Laid off from FT job but still have positive cash flow from the two buildings. I have a healthy cash reserve but am starting a consulting business. The…
I own my own home and am a non-occupying co-borrower on an FHA loan. Can my co-borrower and I refinance to a conventional loan?
I have a conventional loan on my home that I live in and I am also a co-borrower on an FHA loan with my daughter on a home that she lives in.I want a lower interest rate and don't want to start over…
IRA used for down payment?
I read that a person's IRA can be used for a down payment for only first time homebuyers, is that true? I currently own a home in my name but I would like to purchase a home with my now husband and would…
Is HomePath mortgage available for HUD property?
I am an investor.I have a pre-approval for a conventional mort. from a mortgage broker. I have an offer signed for a HUD SF property. The appraiser went to the property and mentioned that there is no running…
Investment Condo -- Condo Questionnaire -- Condo docs does not specify Number of units reported as Investor/rentals ?
Lender is delaying loan because total ratio of number units to Number of 2nd homes is 52%. Condo questionnaire do not report number of units as investor /rental properties. I am trying to argue --…
Advice on purchasing ho6 or ho3 insurance for condo.
HOA master policy used to pay for structure drywalls, basic fixtures and cabinets now need to get "wall -in" coverage. Drywall, fixtures, cabinets, and appliances (except A/C) is no longer covered.…
I am looking for a 10% down jumbo loan in Scottsdale, AZ
Purchase price will most likely be in the 700-800k range. High income and good credit. Had a short sale due to a relocation over two years ago, but I was never late and never stopped paying. Please…
Refinance with cash-out; If I have home which is fully paid for. If I want to use the equity in the house. What is the max % that I could take out ?
This is an investment condo and it is fully paid for ; Condo has 52% of 2nd homes ( investors not reported ) ; Can I cash out ? If so, what is the max % that I could ?
Looking for a lender with GNND experience in the Houston area.
I have a police officer client who would like to take advantage of the program, but would like to work with a lender that has experience with the program.
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