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Financing in Denver County : Real Estate Advice

  • All49
  • Local Info5
  • Home Buying20
  • Home Selling3
  • Market Conditions2

Activity 109
Wed Apr 26, 2017
Janellbrewster answered:
If I closed on my home on March 14 2017 when would my first mortgage payment be
0 votes 8 answers Share Flag
Fri Apr 21, 2017
Brian Martucci answered:
I'm afraid there's nothing you can do as far as getting that cash. The only thing you might want to try and do is ask the seller to reduce the purchase price by $10,000, and then reduce the seller credit by $10,000, and then you'll have fully utilized the seller credit and not have left $10,000 on the table. ... more
0 votes 1 answer Share Flag
Sat Apr 15, 2017
It sounds like you need a rehab loan, not a construction loan. A construction loan would be used to build a brand new home, not add an addition to the existing home. A rehab loan can add an addition (extra rooms, an additional unit, etc.). It is possible to obtain one with a recent bankruptcy, for example the FHA 203(k) rehab loan just requires 2 years from a Ch 7 BK discharge and you can even still currently be in a Ch 13 BK. I'd be happy to discuss your options with you if you'd like.

Shane Milne | Lending in all 50 states | NMLS #81195 | 949-322-3616 direct
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0 votes 1 answer Share Flag
Sat Dec 24, 2016
Jc40222 asked:
I paid off my loan on 10/31 and it's 12/24 and have still have not received my escrow refund I have called about it and they say the post office keeps returning it. Makes no sense…
0 votes 0 Answers Share Flag
Sat Aug 27, 2016
Sally Grenier answered:
Wed Jul 6, 2016
Arlene Satz answered:
Desk top underwriter is integrated processors use to submit Paper work to meet underwriting needs for submission for final approval. Variables are indicated usually from a drop down menu.
Rate. Term. Flood zone , pmi. Amt will also generate a preliminary HUD 1 with approx along cost , money needed from buyer,/seller to settle.
... more
0 votes 9 answers Share Flag
Thu May 12, 2016
Prm answered:
Might be what you are looking for 70% LTC/LTV. Program has 9% interest rate, 2% Origination, $1000 Doc Fee. No appraisal fees or application fees for residential (investment properties only; no owner occupied properties) ... more
0 votes 3 answers Share Flag
Sat May 7, 2016
As of this posting (May 7, 2016) Good Funds Lending, LLC's Low LTV hard money loan has:
- 9% Interest Rate
- 2% Origination
- $1,000 doc fees
- No application fees, no up front fees and no appraisals required for residential properties
- Loans For Non Owner Occupied Investment Properties Only
- Up to 70% LTV for Residential (Loan up to 70% of the lower of the net purchase price or the estimated current market value)

We are happy to provide Denver Hard Money Loans with low rates and fees.
More details can be found on our website:

If you need an ARV based hard money or bridge loan we have other as well.

Submit a online loan inquiry with no cost or commitment.

Good Funds Lending, LLC provides denver hard money and bridge loans for properties that are for investment purposes only, and not for personal, family or household use.

The information and terms contained herein are general guidelines and not binding offers, nor does the information contained herein represent a complete set of terms and conditions.
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0 votes 20 answers Share Flag
Thu Apr 21, 2016
Montageproperties asked:
30k in the bank. The property more than cash flows and has a mortgage balance of 179k but value if 324k. I started my own business in 2008 after I lost my job rather than sitting on mu…
0 votes 0 Answers Share Flag
Thu Apr 14, 2016
Five Stars answered:
Yes, you can do a combo 80/15/5 loan or single loan, see below:

95% Loan to value: Up to $1,000,000 with 680+ credit score. Buyers can choose 1 loan up to $850,000. Or a 1st and 2nd mortgage combo up to 1 million. Both Jumbo options have no monthly PMI
90% Loan to value: Up to $1,500,000 with 720+ credit score.
85% Loan to value: Up to $3,000,000 with 740+ credit score.

Five Stars Mortgage
National Home Loan Resource
7 days week - 9am-8pm
Ph: 800-871-2636
... more
0 votes 16 answers Share Flag
Mon Dec 21, 2015
Nishant.patel16 answered:
I am non US citizen, planning to buy a hotel in USA, My acquisition is it possible to get a loan for this investment and if yes what is the minimum required down payment to get a loan?
0 votes 11 answers Share Flag
Fri Jul 24, 2015
Arvin Sahakian answered:
Hi San Fran,

Great Questions: If you are paying a Mortgage Insurance Premium (PMI) every month, then you likely attained a Conventional Loan with less than 20% equity in the property after considering the full loan amount on closing date. You will either have to request the cancellation of this insurance in writing once certain criteria's are met, or your lender will cancel automatically. Ask you lender about the criteria.

If you are paying a Mortgage Insurance Premium (MIP) every month, then you likely have an FHA Loan. Unlike PMI, it can be harder to stop paying MIP, even as your equity rises. You may have to pay this fee for multiple years, if not for the life of the loan. Many borrowers have gotten around this issue by simply refinancing their FHA loan once the equity in their home increases beyond 20%.

I've written an article titled "What is Mortgage Insurance?" that I believe will help answer some if not all of your concerns surrounding mortgage insurance.

I Hope this helps!

... more
0 votes 9 answers Share Flag
Thu Jun 25, 2015
Hi Santana14,

It really depends on the appraiser. Most appraisals are coming back in 7-10 days but I have had 2 VA appraisals in the last 8 months that took 30 days!

If the turn around is normal it should take 3-4 weeks to get your loan closed.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
NMLS# 787231
... more
0 votes 2 answers Share Flag
Tue Jun 16, 2015
Hi Jonathan,

Using your example, here is how a VA 2nd tier entitlement would work.

What if it's a VA loan of, for example $210,000 on a $250,000 unit. I bring $40,000 DP plus my VA remaining entitlement of $10,000, which 'protects' $40,000 of loan value? This effectively could give me the rates (and no PMI) of a 20%DP loan, although the cash turned over is less than 20% of value.

On VA loan of $210,000 you would need 25% of that in equity/down payment and/or available entitlement for this to work so you would need $210,000 X 25% = $52,500. In your example you're actually short by $2,500. If you increased your down payment to $42,500 you can do a new VA loan.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
NMLS# 787231
... more
0 votes 2 answers Share Flag
Mon May 11, 2015
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 do a normal loan with minimal down and than after 6 payments have been made to refinance your home into a conventional loan using the appraised value as the number all figures will be based on saving you money at that point. I hope this information help feel free to reach out with any questions. ... more
0 votes 4 answers Share Flag
Sat Mar 21, 2015
Santana14 answered:
How quickly from approval to closing for a VA home loan in Georgia?
0 votes 12 answers Share Flag
Wed Feb 4, 2015

We have a few different programs. One is our "2nd Chance" that has no waiting period after Short-Sale and another more traditional (fixed options) Jumbo loan that requires a 4 year wait.

I can't quote rates on here, but I will say they are very competitive to what's being offered to "prime" borrowers without a Short-Sale on the program that requires a 4 year wait.

I've closed quite a few of both. You can take a look at my profile for reviews or click on the link below for my website.

Good luck!
... more
0 votes 3 answers Share Flag
Sat Jan 10, 2015
Bryan Horn answered:
VA loans are a fairly easy to get with Wells Fargo since they are the biggest lender in the land. Plus Wells Fargo does not charge any loan processing or underwriting fees.

VA mortgage loans are also lower in rate than their conventional counterparts and have no mortgage insurance!

Appraisals are not a problem either as the VA appraiser is going to give an honest and accurate value number based on the comps in the area.

All in all, Veterans Loans are great so please inquire with me as Wells and I do several hundred of these VA loans per month!

Thank you for your service and Happy Veterans Day!

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0 votes 19 answers Share Flag
Mon Nov 3, 2014
Robert McGuire answered:

I would say yes from what I am reading in your question. I would lender and also get counsel from a real estate attorney to get the best advice on how to move forward. You remain in a precarious position as long as your name remains on the mortgage.

Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
... more
0 votes 9 answers Share Flag
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