Financing—questions & answers, advice and opinions page 60

my lender could not get the deal done on a 30yr FHA but offered a 3-1 or 5-1 ARM is this a bad idea
Due to a high DTI my lender has suggested I go with a fixed rate ARM and then FHA streamline refinance within a year or so. Is this something you would suggest doing? What could be pitfalls of this scenario?
Lower APR vs Lender pay closing cost
Well, we are looking to lock in the rate today. We have the contract. But here's the thing. Our loan officer said we can either take the 3.25% and she will pay $150 toward the closing cost or 3.75% with…
If I use my IRA to purchase a property all-cash can I then do a cash-out refi? Reason I ask is I know I must use non-recourse loans when using my IRA
To be clear I am NOT talking about withdrawing funds from my IRA . . . I am talking about using a self-directed IRA to buy a property outright and then trying to do a cash out refi after I purchase the…
can I refinance my 30 year loan to a 15 year loan and get rid of pmi?
I refinanced last year to drop my interest rate 1.5% I'm now at 3.67% interest 30 year loan $1163 payment with $173 pmi payment. Home bought for $175,000 16 months ago and is now around $230,00…
VA versus FHA which is better for the consumer
Which is more beneficial to a buyer
Adjustments on rate lock confirmation from Lender
I got a rate lock confirmation from the lender via my broker. It has a rate sheet item saying 100.625 and then adjustment of .375 so net price is 100.25 . in the adjustment is .25 for LTV 75-80. My broker…
Small mortgage with fair credit?
I have a credit score of about 671, although I don't have much credit history. What I do have is small and not very good (delinquent cable bills and the like). I paid off all my debt just over a…
Buying 2nd house & want to refinance the first house. Would the refinance cause issue when apply for mortgage on the 2nd house?
I'm in a short-sale contract for my 2nd house (still waiting for the bank for approval). I'm thinking of refinance the mortgage on my first house (no cash out, just to get the rate down a bit). Will the…
If we were denied a refinance on investment property due to an oversight by the mortgage company, could we receive a refund for the appraisal fee?
We were not told upfront that we would be considered professional investors because we own more than 10 properties and therefore the company we were working with would be unable to loan us any money.…
Pre-approval for home loan with credit scores of 560 and 730?
The 560 used to be 620 just a few months back but dropped due to posting some credit disputes and one item in collections that was paid. Can we still get a home loan?
Is a USDA Loan at 5.5% no points a fair deal in Coatesvillle, pa?
I put 10K down, 780 credit score. Loan amount 225K
we are on ssi can we buy a cheap mobile home with low monthly payment?
currently we can manage with our monthly rental of 450?month. So if space rent is 400-450 we av 150-200 for the mortgage. Problem is will ssi still continue giving us the same benefit if we try to own…
Lease-to-own ... pros and cons... or is it better to do owner-financing (if you can get it)?
I am looking for a property to either do a lease-to-own or owner financing. My credit score dropped when I filed Ch. 13 Bankruptcy in 2008 - but due to job loss I had to convert it to Ch. 7 in 2009 and…
Escrow delay what to do? Want to cancel at this point tired of excuses.
My home was to close Dec 28th it is now Feb 9th. Due to mainly incompetence it has been delayed 6 times. Escrow officer didn't know what an Estoppel letter was, Mortgage broker and loan company didn't…
Qualifying for new mortgage with rental property
We are planning on purchasing a new home in the next few months. My boyfriend and I each currently own separate townhouses. We will be selling his, but I am on the fence about mine. I have it leased…
Financing in Houston
Potential first-time home buyer here. I want to buy a $120k property. I have no verifiable income, but receive more than enough monthly financial support from well-off family members. I have a perfect…
Does anyone out there do 10% down investor loans?
I'm a realtor with a client who invests in single family rental homes in the 100k range. He has good, verifiable income, high credit scores and good reserves. Any bank in town will give him 80%…
Jumbo mortgages in Douglas County - max CLTV?
We are interested in purchasing a home for $900k and $1M in Douglas County. Would be interested to know what programs are out there for 90 % CLTV at that pricepoint - 780 FICOs....
Quotes yields 0 of 0
No quotes returned regardless of credit setting
Financing Second Multi Family house
Hey, My question is how much do i have to put down for a down payment on my second multi family home? I currently own a 2 family (which i live in and is primary residence) that was appraised at $375,000…
Do I qualify for a first time home buyer 50K a year under a first year of a fellowship/post-doc? Thanks.
I was appointed an EPH lab fellowship at Cal. Dep. of Toxic Subs Control (Env Chem Lab) for 2010-2011 with an annual stipend paid biweekly. (it islike a post-doc basically). I dont get a W2 since it is…
In regards to physician loans has anyone heard of ?
Our office was contacted and currrently seeking a Physician loan.
Is it possible to get qualified for a home loan for a new home when you are currently putting yours on the market to sell or rent?
We own a home in Virginia Beach, but would like to move back to North Carolina (military). Since the home is under a VA loan, we are undecided on if we should rent it out and purchase another or try to…
Can you use an FHA 301k construction loan to buy an REO property?
We have been approved for the loan. The catch is with this type of loan my understanding is that we can't put more than 12% down. What is the key to being the "winner" of an REO property?…
Self-employed - Doc or no doc?
My husband and I are both self-employed and are looking at stated income loans. Our broker says stated income loans are few and far between these days. We have a 20% for our down payment and excellent…
Conventional Loan with low or no downpayment
My wife and I are trying to buy a condo in the Victorian Village/Harrison West/Short North area. Unfortunately there are not any condos that can get approve for an FHA loan. Are there any lenders out…
Does a "15 day first look" for Homepath properties mean you are required to use a Homepath loan?
We are interested in putting in an offer on a house that is eligible for a Homepath Renovation Mortgage. It is still currently in the 15 day first look phase. We have a pre approval already from a lender…
Mother and sister are disabled.I take care of them. My mom heard of home financing program for people who are disable.Anybody know about it in NoVa?
Can we buy the type of house we want or are we restrict to ( condo, TH place, etc.) or can we can have our own choices? Thanks!
Refinance an investment property with 80% LTV?
I have a condo (high rise) in Chicago that I'm currently renting out. I'd like to refinance it, but everyone I've talked to requires an LTV of 75% or less. Right now we're at around…
Can I afford to buy?
I have a 600 credit rating earining 60K/yr gross with student loans payments each month. Is it possible for me to buy a Single Family home in the 100-200K range?
Are there lenders who will do a 10% or 15% down jumbo mortgage in Bethesda Maryland?
Purchase price is around $950K for a single family home. I'd like to put between $100-150K down. Credit scores are high. Thanks!
what score I need to have?
What credit score I need to have to buy a home
What is the average turn around time on pre closing quality control?
The file went through the underwriters and all conditions are met it got send to quality control. Wondering what the turn around time is for that step?
Will my Wife's income qualify?
I am in the process of having to relocate to be closer to my job. My wife left her job of 5 years at the begining of 2012 when our son was born and spent his first yeat at home with him. At the end of…
FICO score in regards to mortgage loan
when paying off delinquent accounts on your credit is it ok to pay a settlement amount, or is paying the full amount more beneficial to your FICO score?
Work in one state but want to buy in another?
In 10 years I want to retire in ca but for now I live and work in Las Vegas, can I buy a home in ca. And live there on weekends and here durning the week ?
Looking to refinance multi-family investment property
i have a first and second mortgage on my property. bought it in jan 2008. i owe 426/445 on first and 72/82 on second. I have a interest rate near 6....when i try to refinance with my current company...they…
relocating to Charlotte. Looking to purchase first home with little to no down payment. should I be looking for a "buyer agent" whats the?
difference I have been in touch with an agent thats been really helpful but I was advised not to speak with only one person and check my options.
Seeking ways to raise money for real estate projects
Hi I have been in commercial real estate for over a year know an while in this industry I represented a financial group an my Job was to find projects seeking fund. While working an bringing in around…
I'm looking to buy but my credit score isn't up to par, does anyone know where I can get a FHA lone around dutchess county with a credit
score under 6 600 I have read the FHA guidelines and they say you can get a mortgage with a credit score as low as a 540 does anyone know of a bank that would do that?
Can you negotiate with your lender?
Interest rate, loan amount, etc?
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