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Financing in Lakewood : Real Estate Advice

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  • Home Buying13
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Activity 2
Tue Jan 29, 2013
Maritza - it all depends on what your monthly payments are on your consumer debt (car loans, credit cards, student loans, etc.), as from an initial glance $96k/year should qualify for a much higher sales price than $325k if you have no consumer debt payments, and even if you have $1k/mo in consumer debt payments. Sounds like your loan officer isn't explaining what is preventing you from qualifying for more, is that the case?

Shane Milne | Lending in all 50 states | NMLS #81195
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Fri Mar 26, 2010
Carl Henker answered:
You will not receive a refund of MI when you pay off your FHA loan using a conventional loan. You would receive a prorated refund of your MI if you stay with an FHA loan. However you are looking at rates above 5% today with cost I would not expect any benefit in refinancing at this point except obtaining some cash for investment. ... more
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Financing in Lakewood Zip Codes