What is the maximum LTV for a cash-out refinance for an FHA loan?
GCarlin,The current maximum loan to value for an FHA cash out refinance is 85%. If you need anything else,feel free to contact me at 402-333-5432 or email me at dennis@mortgageloansofamerica.com.Thanks,Dennis W ClarkNMLS#13970http://www.mortgageloansofamerica.com

looking at buying a home.
Brando,As long as your child support is current, your credit should not be an issue. What interest rate you get is dependent on the loan program you use. If you want a comparison of various loan programs and their interest rates, contact me or go to my web site at http://www.mortgageloansofamerica.com...

How do USDA mortgage rates compare to FHA mortgage rates?
It isn't so much the rates that matter as it is the monthly payment. Quoting one of my lenders rates for a scenario where the purchase price is $150,000.00, we would get the following comparison between the programs. Be advised this is for the purpose of illustration and is not a rate quote or a...

have house, paid for, need money to build on, equity loan?
I would do an prepare a side by side analysis of a 2nd mortgage or HELOC with your current loan against a cash out refinance of your existing mortgage. The analysis, based on your plan of action, should give you a clear winner of which would be the best strategy for you. If you need help to work up the...

My wife's niece want to purchase a rental home that I have for sale by owner. It will appraise for more than I am selling it to
This would be seen as an indentity of interest transaction and the loan to value for the buyer would be limited to 85%. Depending on the value of the property, you can gift the required down payment if you have that much equity. I hope that helps.

remodel of bathrooms and recarpet
Justin,To know which is better, you should have a total cost analysis performed for you. You can then compare the options side by side. If you would like this analysis, contact me and I will prepare it for you.Thanks,Dennis W ClarkFreedom Lending, LLCdennis@mortgageloansofamerica.comNMLS#13970

can i see how i qualify for a mortgage without going to see a lender
Sure, you can apply online at www.mortgageloansofamerica.com. That way you can see where you are before you go in a visit a mortgage lender or broker.Thanks,Dennis

Refinance with kitchen damage?
Jim,There are several potential options. One would be the FHA 203K loan. It allows you to finance in the costs of remodeling into the loan and can be completed even while you have damage to your home. If you want more information, feel free to contact me.Thanks,Dennis W ClarkFreedom Lending,...

When am i supposed to receive a good faith estimate?
The formal GFE is not provided until a property is under contract. However, an estimated fee sheet should be sent to you so you can see the costs associated with the transaction you are contemplating. I provide my clients with a complete analysis of those costs and a variety of programs available to them...

lenders rates are not matching low rates i see online?
Many times the rates you see posted on line have points to be paid to get that rate. When you actually call in or talk to another lender, they may be quoting you the par rate. That being said, it would seem the rate you are being quoted is a little high. I would call another lender in your state and get a quote from...

My credit score is 650 it is an fha loan and they have told me anything at this point except that there waiting on an approval
Based only on that information, they really should be able to give you an answer is a matter of hours as far as a pre-approval goes. If there is another issue that they need to run by an underwriter, that would be different. If you want a 2nd look at it, feel free to contact me. I lend in Nebraska.Dennis W...

Do any of these lenders finance manufactured homes?
Yes, we finance manufactured homes as long as they meet the underwriting guidelines. If you want more information, feel free to contact me.Dennis W ClarkFreedom LendingNMLS#13970402-333-5432dennis@mortgageloansofamerica.com

Is a home inspection and appraisal always required on a USDA loan? Trying to save costs.
Bradley, A home appraisal is required on all transactions. A home inspection, while encouraged, is not required on all USDA loans. If you need anything else, feel free to contact me.Thanks,Dennis W ClarkFreedom Lending402-333-5432

Anyone out there offering the FHA Short Refi program?
Sarah,There are programs that will allow you to go up to 115% of the appraised value if you can get the 2nd mortgage holder to subordinate their position. I can't tell if we can help you until I learn more. If you want to discuss it, feel free to give me a call.Dennis W ClarkFreedom...

Trying to refi but credit scores have dropped down to 620ish since we bought. Wondering if it would even be worthwhile. Current rate is 4.35%
I would need to know more about your current loan before we can determine whether it is worthwhile or not. If you would like a free mortgage review analysis, feel free to contact me.Dennis W ClarkHomeBridge FinancialNMLS#13970dennis@mortgageloansofamerica.com

What is the typical processing time on a refinance for a VA loan?
Per published statistics put out by Freddie Mac, the average time to process a loan from application to closing is 50 days. That is up 10 days from a year ago when the new TRID regulations went into effect. The average times we have been seeing is 30-45 days on a purchase.Dennis W ClarkHomeBridge...

Swapping Lenders mid Escrow
You can change lenders. Many lenders can't close that quick but we can. Let me know if you need any help. dennis@mortgageloansofamerica.comDennis W ClarkNMLS#13970Thompson Kane Mortgage

Why is it illegal to help your child buy a house?
It is not illegal to help your child buy a house. I helped my son buy his house by gifting him down payment money. The FHA and Conventional loan programs have guidelines in place which apply in these situations. If you need help with this or have any further questions, feel free to contact me. I am located in...

Are there no closing costs refinance loans in Iowa
The term "no closing costs refinance loans" is a bit of a misnomer. Every refiance has closing costs. However, what some situations allow for is the lender can pay the loan costs with a rebate for a higher than "par" rate. The lender can take the rebate for the higher rate and apply it against the loan costs...