In this kind of rate environment, which is better? 5/1yr ARM, or 30 year fixed?
Great question. Here is the short answer, it depends on if you going to be in this home for more than 5 years or not. If no, then go for it. If yes, then go with a long term fixed for security. If maybe, then I would be conservative and go with the longer term.

hi me and my wife are looking to buy are first home and we have some bad bebit but are ccscore is like 630 or soo what is the out there to get a home with no mony doun
USDA is a great way to go in this case, and if you can find a lender offering it below the typical 640 credit threshold then it's worth a phone call. The problem is that you are limited to where you can live, and the particular house you can purchase.It's hard enough to find the right house out...

My mother in law is looking at a $100k Home Equity Loan on her $200k home, which is paid off.Her BK was discharged 2/2005, is there a lender that allows a HELOC? Her score is 660
To answer the question directly, neither issue you raised is likely to cause an issue when attempting to secure a Home Equity Loan. That being said, each lender has different guidelines depending on their portfolio needs.There are obviously several different outlets to get one, but I would probably...

What are the FHA loan limits in NY?
Syracuse is in Onondaga county and the FHA limits are as follows:Single Unit: $281,250Two Unit: $360,050Three Unit: $435,200Four Unit: $540,850For more information you can follow the link I've provided. (COPY AND PASTE) https://entp.hud.gov/idapp/html/hicost1.cfmGood luck, and let me...

Is the rate move up done? Can we expect it to hold steady?
Great question. The bottom line is that NOBODY knows where the rates are going to go or how long they are going to stay there. People can get an idea based on a theory I like to call the "object in motion".. which is much more obvious than science. Here's how it goes: If it's going up,...

IRRRL
You cannot do a IRRL if you want to combine the 1st and 2nd. If the county puts your home at 167k, there is a good chance it could come in more valuable because they are rarely accurate. That being said, it could come in lower too so you never know. The bottom line is that you are looking to combine your 1st and...

Will we be able to get a mortgage?
First of all congratulations. As you may suspect, you are are probably qualified. The 1st step in your process is to get prequalified and GET A GREAT REAL ESTATE AGENT to help you. As a buyer, It costs you nothing to use an agent and the benefits are tremendous. You'll want to get a full time guy (not a...

Help with getting a loan...
Short Answer: They will average your income over 2 years. If you file the 2010, then it would be better, but not necessary. Your 2010 W2's would be okay. You have more than enough money, credit, and income to purchase this home. I know you have lots of options, our office is in Arizona and I know the...

just signed loan docs and will get the keys on Thrusday
I would buy the car on Friday.

Refinancing Our Neg-AM loan
Your only answer is to negociate with your current lender. I'm not a mortgage modication specialist, but I have heard that if you keep contacting your lender enough you will get it. You might try a "Hardship" request. The fact is that if you are on a negAM, you are in an unwinable situation...

im a young doctor just graduating medical school and moving down to Memphis this summer. Im looking to buy my first home as I will be down there for residency for 4 yrs. I will be earning $70,00/yr but have no nest egg as I have been in school. I wondering what my lowest down payment option is with regards to HFA loans. I looking at houses costing aprox $200,000 - $210,000. I have excellent credit and am wondering my chances of qualifying for the HFA.
If you have 3.5% to put down, your chances are excellent. The only thing I would add is that SOMETIMES there are programs specifically designed for Doctors (and other professionals) within a given area. Also, you may want to ask the hospital if they have anything to offer as well. You'd be surprised...

Is this dip in rates a trend or just a one-time thing? Should we lock now?
Great question: Here is the most simple answer.... You have to do what makes sense to you right now. My opinion is that you should lock if you feel good that your lock rate will work for you. My advise would be (if you do lock) to do it and don't look back. Good luck.

refi
You have an ARM now and on the 8th year it will adjust. There is no way of knowing if it's even possible to combine the 1st and 2nd without getting the value. That being said, even if you had the value to combine them, you may not want to do it if the 2nd is FIXED for a long term. In that case, you should...

How Many Mortgages Can I Carry?
You can have up to 10 financed properties. After 4 however, the guidelines and your loan choices are limited as there are not as many investors willing to take on the risk.