Should I refinance when I intend to sell, then buy a new home in the next 1 to 3 years?
If you can recoup your closing costs (by the amount you are saving each month with the lower payment) by the time you sell the house, then this makes sense. (I would need to know more information on your situation in order to figure this out.) Or, if freeing up the money each month right now is more important...

How much money will I have to pay upfront to buy a home?
Different loan programs require different downpayments. USDA RURAL loans can require zero money down, others a minimum of 3%. You will need 20% down if you want to avoid paying private mortgage insurance with most mortgage loans. There are a few exceptions, depending on the program.

Are all closing costs around the same amount?
Depending on the sales price, you can estimate maybe 3-4% in closing costs, but sometimes it can be a little higher. Based on what you have shared, I think you are in the ball park for this area. Higher interest rates can help you cover closing costs too. Please feel free to call me to discuss in more detail. ...

What is an ARM and can it be better than a FRM?
An ARM is an adjustable rate mortgage. The advantage are that you can lock into a lower interest rate for a fixed period of time, usually 3, 5, 7,10 years, at at which time the rate would adjust to the current market. The issues that might arise later are if the home value declines, you might have a problem...

Credit score of 713, can I buy a new home?
With the information you provided, yes, it looks like you could qualify for $185K. However, I would need a little more information, like what additional monthly debt you have. The credit scores sound good, and your wages can handle that payment. Depending on the program, you can go USDA with zero down,...

who is resposible for mortage?
Stepmother is responsible to pay the mortgage now if she was a coborrower on the loan. However, if she doesn't make the payments, the bank can foreclose on her, even if you have 1/4 ownership. If you are having trouble with this, you may want to consult an attorney for more information. Christina...

Can I buy a home with no down payment and a middle credit FICO of 749?
Yes, there is a great possibility that you could qualify for an FHA loan which requires only 3.5% down. I would need more information to answer for sure, and I would like to know more about the monthly help from your folks. Please call me in the Atlanta area at 678.493.3366, Christina Murphy, Oglethorpe...

What refinance rate can I get with my credit?
John, it looks very possible based on the information that you have provided here, but I would need more information in order to do a pre-qualification. I see that you are in the Atlanta area, and I am too. Call me and we can do a qualification right over the phone. Christina Murphy, 678.493.3366.

Why cant I have 2 conventional loans?
If you can provide more information, it would help, but in most circumstances you can have 2 conventional loans out at the same time. The "deal breaker" would be if you can't support both payments. Call or email me and let me know the rest of the situation and maybe I can help you with your...