Home equity loan for remodel, possible to refinance after?
Yes, you shoudn't have any trouble refinancing. However, depending on the new value and the amount of the heloc you may see a slight adjustment in rates or closing costs due to the fact it would be considered a cash-out refinace which has a slight pricing premium dependent on loan to value. I hope...

PCS
Unfortunately, lenders have changed the guidelines for departure residence. Unless you can sell the property you are going to have a tough time qualifying for a new mortgage. The main reason is the lender is unlikely able to use the rental income to offset the mortgage unless you have a 2 year proven...

What do I need for a mortgage.
Great question Jennifer, to be honest there are several loan programs available each with their own set of qualifying criteria. Without knowing your exact scenario including your current credit scores, the number of open accounts illustrated on your credit report, the type of employment (i.e....

New Home
Thank you for your question. I agree with these other lenders in regards to your other current obligations or debts having an effect on your ability to qualify for purchase money financing. Your income, credit and down payment are all positive factors in determining your eligibility. Assuming your...

What rates are available to me for a home refinance?
Great question, with your credit and income you should have no problems refinancing down to a high 3% or low 4% rate. However, you will most likley have to have mortgage insurance until the property has at least 22% equity in the property. Assuming home values are stable in your area the mortgage...

Going through Divorce - Should I still make payments?
That's an unfortunate situation to say the least. If your husband is still paying his portion I would recommend you doing the same. That woudl ensure your good credit stays in tact. However, if your husband is not paying his half you may already be in default. I would find out right away because if...

How much does a co-signer affect my mortgage?
They will use income, liabilities and credit scores for each of you to determine eligability. I hope this helps. feel free to contact me with any questions. Adam Webb, First Charleston Mortgage 1-800- 968-3987 or email at adam.webb@firstcharleston.com

is there anybody that will refinance my modular home
Yes as long as it's a modular home and not a manufactured home it will be treated as a regular stick built property. If you're not sure what type of home it is there are a few quick observations that will help determine. First if it still has wheels and a trailer hitch attached it's a...

VA short sale guidelines
On VA loans the seller is allowed to pay up to 4% of the buyers closing costs as long as it's negotiated in the sales contract. FHA typically allows up to 6% seller concesions. Now depending on the current shortselling lender they may or may not allow for any closing costs to be paid, but again this is...

I have a middle FICO of 692, can I apply for a new home loan?
Yes absolutely! An FHA loan might be a great option for you, although I would also recommend a comparison between all your options so that you can make a well informed decision. You should touch base with a loan originator and go over your complete scenario so that they can best advice you. The...

How long after Chapter 13 discharge for mortgage?
Typically three years with one year of proven on time payments before you can qualify for most mortgages. I hope you find this information helpful. Please contact me with any questions or concerns. Adam Webb, Mortgage Consultant, NMLS # 196458, First Charleston Mortgage 1 (800) 968-3987 or adam...

70
Berts right on the money! Typically three years with one year of proven on time payments before you can qualify for most mortgages. I hope you find this information helpful. Please contact me with any questions or concerns. Adam Webb, Mortgage Consultant, NMLS # 196458, First Charleston Mortgage 1...

Middle credit score of 697, can I get a home mortgage?
Jeremy, that's going to be a tough one if I understand you correctly, you're already at the top range for debt to income ratio. The down payment is helpful though and they're may be some items we can work on to help get you in a better position. Paying down credit cards and the car payment...

Are there any cons to a no cost refinance?
Yes, you are correct. You will typically pay for a "no cost" mortgage with a higher interest rate. What you need to do is to review two options in order to determine which one would be best for your scenario. The first option is to have the higher interest rate along with the higher monthly...

Can I consolidate 2 mortgages into 1?
Maybe, you might not be able to combine your first and second mortgages at this time since you are upside down. However, it may be worth while for you to refinance your first mortgage using the Home Affordable Refinance program. This would allow you to cut your first mortgage interest rate...

how much of a home loan can i qualify for?
First things first, we'll want to address the credit scores for each of you. Now days in order to qualify for a loan you will need a minimum credit score of 640. That's not too tough though. We would just need to look at your credit report and make some changes before rescoring it. Once that's...

Is there a penalty to refinancing a first and second mortgage into one loan?
No, based on your scenario there should be no hit for combining your first and second mortgage into one loan. The Key is the equity you have in the property as long as your home appraises for $275 or more you shouldn't have any problems or any penalty to combining them. It would be considered a cash out...

Middle credit score of 651, can I qualify for a new home mortgage?
With the information you provided it seems reasonable that you should be able to afford that home. The biggest question that we don't know is what other liabilities do you currently have. This will affect your debt to income ratio which we typically want to keep at or below 41%. Of course we can go...

What refinance rate can I get with my credit?
With the information you provided it seems reasonable that you should be able to qualify for a rate of 3.75%-4.0% as long as your home appraises for the $225K and you don't have a second mortgage. If your wife is also on the loan you would want to make sure her credit scores are similar to yours if not...