what's the minimum equity needed to do a va cashout
You can go up to 90% loan to value for actual cashout. If you are paying off mortgage debt such as a 2nd mortgage or Home Equity Line, then you can go to 100%. Feel free to call with any questions. 801.716.5241 direct. We are located close to you, right here in Murray. Brandon Brady, Christian Roberts Mortgage.

Can i get a jumbo loan with a 712 credit score?
Yes. It will ultimately depend on your loan to value or the amount of down payment. Feel free to call me to go over your scenario in more detail. We closed 3 jumbo loans near Brigham City last month.

i cosigned and they defaulted - hurt my chances of a new mortgage?
It depends on the type of loan you co-signed on & if he was just late making the payments each month or if he just didn't make a payment for 2 months. However these lates report, they will reflect on your credit the same as his. It is still possible to qualify for a mortgage though. Typically, the only way to get...

can i do conventional mortgage 719 fico score and 39% DTI?
Yes, you can do a Conventional loan with these parameters. By putting 10% down, you will get a lower rate on your mortgage insurance or you could do a conventional loan with no mortgage insurance. Typically your rate will be about .25% higher on the loan with no mortgage insurance than the loan with...

Can i avoid paying mortgage ins. with 10% down payment?
There are a number of mortgage programs that will allow you to not have mortgage insurance with 10% down, just not FHA. With a 730 score, you will also have favorable pricing/rates. Feel free to contact me for more info on this & I will be happy to assist you.Brandon Brady 801-716-5241 b.brady@crmtg.biz

For the fha mortgage insurance i'm told i'm going to pay 1.3% every month??
If you are under 95% loan to value, the factor you use is 1.3%. But, it is annually. So take your loan amount & multiply it by 1.3% and then divide that by 12. That will give you your monthly mortgage insurance for FHA. If I can be of any further assistance, feel free to call or email me.Brandon Brady | 801.716.5241 | b...

Appraisal question?
This is typical on almost ever transaction. The lender will get the appraisal & review it for any inaccuracies. Once the review is complete, if the appraisal is good, you will typically recieve it within 24 hours of the lender recieving it. If the review catches anything that is wrong with the appraisal,...

would like to buy a home in 3-6 months. Should I get pre-qualified now?
Absolutely Yes! This will allow you to be in the best position for when you do find the house you want. I see it all to often, that someone that thought they had perfect credit, wait to get pre-approved until they have a house under contract, and then find out something is wrong on their credit that they...

does fannie may require smoke alarms and co detectors on refinance and purchases?
FNMA does not require smoke/CO detectors. This is a state specific requirement and is usually brought to the lenders attention when noted in the appraisal. If your state requires them, then the appraiser will look for them and test them during his inspection. If they are missing or not working, your...

Im not sure I fully understand my obligations as a borrower for a va new construction loan,is a 20% down payment required on my pa
William's aswer is spot on. However, if you are using a builder and they carry the construction loan, you can use a VA loan for the permanent financing and still go to 100%. The builder will typically require a deposit which varies from builder to builder. You can get your deposit back when you close on your...

Are child support payments received counted towards my income for approval purposes?
Your child support payments that you recieve are counted as income as long as they will continue for 3 or more years. Most lenders will also want to see that the payments have been recieved consistently for the past 12 months.

Do FHA loans always require 20% down?
Absolutely not! Most of the time it is just 3.5% down.

missed payment
You are not disqualified for only having one 30 day late payment in the last 12 months, I do these all the time and many lenders can as well. What I would be more concerned with getting around is the back end DTI of 62%. FHA will typically cap you at 57% DTI on the back end and that is going to get harder to do...