stated income loans?
Stated income loans are a thing of the past. Fortunately, there are still possibilites depending on the circumstances & assuming that you can qualify using the 1 year of W2s. Can you elaborate on why you have only 1 year of W2s?Have a great day,Chad ScottThe Mortgage Money Source866.890.3696

Seattle WA FHA Lenders for Credit Scores Between 600-620 Options
Yes, I can depending on what is causing the lower score. Give me a call at 425.954.0024 and we can discuss.Chad

Why am I getting declined for a Harp 2.0 refinance through Freddie Mac's automated underwriting system.
I agree with Rob that Freddie Mac can be quite fickle. Did you actually pay off the debts or did your mortgage broker just exclude them? I have found that if your balance to limit ratios are high, even if they are excluded, Freddie Mac will still issue a decline or expanded approval. This is because...

Can I refinance my mortgage with 625 credit?
Although there are more factors than just credit score and depending on what type of loan you have now, you may be able to refinance. With a quick phone call, we can discuss your options and no cost or obligation. Give me a call or shoot me an email - 866.890.3696 or chad@tmms.com.

What is the difference between HARP and DU Refi Plus?
HARP is the generic term for the Home Affordable Refinance Program. DU Refi Plus is Fannie Mae's HARP program, whereas Freddie Mac has a similar program called Open Access. They are the HARP programs for each Government Sponsored Entity (GSE).

We are having problems with our EA3 loan closing.
I agree with Equitus. It is probably best to stay with your current broker, if they can get it done. You need to have an honest assessment of where you are at in the process and what the hold up is. Do you know if the 2nd mortgage subordination is a cause of the delay? There are several lenders doing EA3, but far...

On average, what percentage of a loan do closing costs make up?
The "average" on a conventional refinance is approx $1800-$2500, depending on your loan amount and other factors. Government loans and Purchases will be higher. You can choose to pay those fees yourself, or have them paid on your behalf in the form of a higher rate.Give me a call and we can...

Are there any lenders that can finance a mortgage with a middle score of 590?
Yes, we have programs that have no minimum credit score requirements. There are other guidelines, however. It would be best to discuss your particular situation and see if we can come up with a solution for you. Chad Scott - 425.954.0024

HOA and Reverse Mortgage
hi Beverly, They might be able to, indirectly. Since reverse mortgages are insured by FHA, the condo development needs to be FHA approved. It is the responsibility of the HOA board to do that. If the residents and board are unwilling to obtain FHA approval (assuming it isn't FHA approved already) then...

I'm not getting any love from banks - what are thoughts on hard money lending?
We have alternatives for bad credit and our FHA program goes down to a 550 credit score. Give me a call and we can discuss some solutions. Chad Scott 866.890.3696