Have the rates already hit their bottom? Did i miss out to refi?
The larger risk than not hitting bottom (on a $300,000 loan amount the a .250% difference in rate equates to only $46) is not being able to refinance at all due to falling home values. 5.25% is a great rate. If you're home value is such that you could refinance now, I'd do it...30 year fixed rates are in...

Do any of your lenders see the market right to pick a property?
Buy Now: Affordablility is higher than it's been in years. If your plan is to buy a home you'll live in for at least 5 years, there are several reasons why now is the right time: 1. $8,000 tax credit (if you haven't owned in the previous 3 years). The US Govt. is actually "paying"...

Buyers are offering 20 to 40% above asking price. How do I compete in such a scenario?
If you're working with an experienced Realtor, they should be able to determine if a home is listed under value, and by how much. From that point they should be able to give you the final price--above initial list price--at which comparable properties are closing. If that price is within the range...

Is this even possible?
No bank is offering 100% financing on a combined basis (between two loans). If this is going to be your primary residence, you could use FHA government insured financing (30 year fixed rate mortgage) and only have a down payment of 3.5%. The seller could pay up to 6% of the purchase price to help you with...

is this safe?
I'll answer you question with a question (also, the same I provided to a client today): The biggest question on an ARM is: Where do you think rates will be in 5 years? The expectation is that inflation is going to start within the next 12 mos. Because rates "hate" inflation, if inflation...

Please help a first time home buyer!!
You look like you have lots of options based on your high income and low current debt. FHA financing with a 30 year fixed-rate mortgage is the easiest option. One good thing with FHA is that with less than 20% for a down payment, the monthly mortgage insurance is much less than if you use private mortgage...

Can I refinance a First Mortgage if I have a second one that I am currently paying?
Yes, a couple of different ways: 1. If your loan is owned by Fannie Mae or Freddie Mac (I can check that for you), you can refinance your 1st up to 105% (meaning your 1st mortgage is 5% higher than your value). 2. If your 2nd mortgage holder will re-subordinate (meaning they'll agree to go back in second...

I have a 30 year FHA loan for 185000 at 5.5%.
Enter your answer here

how much down?
In our area (Counties of: Placer, Sacramento, El Dorado, Yolo) most lenders are requiring between 25% and 35% for Jumbo financing (any loan over $474,950). This is because our area is considered "declining" per appraisals. In the bay area, you can get Jumbo financing with 20% down.I will...

how do i start the process with this? i am veteran looking to buy my first house i am confused on what i have to do to start this
Thank you for your service.I am a VA Specialist and Blue Star Dad (son is an Afghanistan Veteran) in Folsom, CA. 80% of my clients are active-duty and/or Veterans. I'm happy to answer all your questions. Easiest to get all your questions answered is for you to contact me: Andrew Vierra, www...

Getting a divorce and would like my wife off of the loan. Can I do this without refinancing? I am currently upside down on the loan and do not know what to do.
No way to get spouse off loan without refinancing.Depending on how far 'upside' down you are, we could calculate options.If you have military service and use a VA loan you can get 100% financing up to $679,650 in Bay Area counties. If not VA, there are other loan programs (Conventional and FHA) that offer...