If I choose not to get an appraisal for a streamline refinance, will I get higher mortgage rates?
Opting NOT to have a traditional appraisal inspection on a streamline refi should not cause your interest rate to be higher than if you use the automated value. However, if you believe the value is substantially higher than what the streamline refi is using, you may want to look a traditional...

If I roll up my closing costs in the loan, will I end up paying interest on those fees?
You certainly do. Financing your closing cost by rolling them into the new loan amount may not be the cheapest option, but it allows you to keep from depleting any savings or emergency fund you have worked hard to accumulate. In most cases, consult your lender and loan terms, you can pay down on your loans...

What is the best course of action when an older jumbo loan now qualifies as a conforming or conventional lEnter your question here
Considering the rate one must have on an older Jumbo loan and the lower rates available today the best plan of action would be to look into all your refi options. Ideally, depending upon how many years into your current loan, shortening your term would also be a good long term financial move.~JP

harp investment
Not widely known, but yes an investment prop is eligible under HARP, provided it meets the cutoff date. Don't wait, do it now. Might even want to consider a lower term with the record low rates available.Happy Refi,~ Jerry P.

Does the Harp Loan requier income verification
Yes, you will be asked to provide income information to show you qualify. Employment verification will also be requested. Feel free to contact me for specific loan guidelines. I am licensed and reside in WA.JP253.797.4194

On average, what percentage of a loan do closing costs make up?
That is a bit difficult to answer not knowing the loan amount. Some lenders charge an origination fee of 1% plus additional admin fees. You'll also have roughly $900 in title/escrow on a refinance or between $1500-$2000 on a purchase. For specifice costs feel free to call.-Jerry 253.631.2212

we may need someone to co-sign a loan for us, but they can't come to where we are.
The escrow compnay who handles the signing of the loan documents will coordinate the signing out of state for the cosigner(s). Depending on the escrow company they may charge a fee. So make sure you know if they so and how much.

have house, paid for, need money to build on, equity loan?
Equity loans are great for instant cash when you need it. You can access the money as you build an only have to pay on the amount you have outstanding. Most equity loans are a revolving line of credit attached to you house for collateral. They will have an adjustable interest rate after the initial fixed...

How do I find a mortgage refinance without closing cost fees?
There will be closing cost on any refinance you do. You can get around having to pay out of pocket for those closing cost, including an appraisal. It is all how the loan is structured. Feel free to email me or call to discuss. I'm licensed in Oregon.

Are streamline FHA refinances possible on investment properties or only owner occupied residences?
Yes. In process of one right now. Contact me for specifics and requirements. My office is in WA.

Is a cash out refinance better than a 203k loan for small renovations?
A cash-out loan would be best, provided you can obtain the amount you need to do the work your wanting. The 203k has many more layers, paperwork and can be a timely process. However, it does allow to finance the cash needed to do the work into the new loan based upon the property value of the future completed...

How to choose between VA, FHA and Conventional mortgage?
If thinking of putting off purchasing a home right now because you'd like to save for a down payment to go conventional, I would opt for utilizing your VA benefits and go zero down. If you qualify for VA my man...you earned it! And, especially if this is your first usage of your VA mortgage benefit, your...

Have there been any more updates as to when HARP 3 might be released? Is it likely to pass or not?
HARP 2.0 was due to expire at the end of this year. The FHFA has extended the date to the end of 2015. With the move we are hopeful HARP 3.0 is coming soon. If you'd like to be contacted at that time feel free to email me or submit a request through my website.

Credit enhancement caused my HARP refi to be denied. I have excellent credit, good income...what's the deal?
Definitely need more information. Feel free to email me your scenario. I am licensed in OR & WA and be happy to assist you.

How long do I have to wait to get a home loan after foreclosing on my mortgage?
Check out my blog at https://www.lender411.com/mortgage-articles/8658/purchase-a-home-after-adverse-financial-event/Be happy to meet with you.

HARP Refinance After Bankruptcy
Check out my Lender 411 blog on Mortgage Financing After Adverse Credit Event.

What types of mortgages are assumable? Would getting an assumable mortgage now be financially prudent?
FHA & VA loans are assumable. There are qualifying requirements. I'm licensed in OR and would be happy to assist you.

Is now a good time to get an ARM 5/1 loan? I plan to sell my home within 5-10 years.
If you looking at Jumbo rates then you might be inclined to do an ARM. However, I would refrain from the shorter fixed period ARM loans. Another option to explore is buying down the interest rate on a fixed rate term. Fixed rates are at historic lows. Don't let them get away!

Is there a loan product that I can get to refinance my second mortgage?
You would much better served if you can roll your second mortgage into your first, value permitting. Depending on whether the second mortgage was used to purchase the home or actual cash in hand will depend on how the new loan would be structured. Factor in any mortgage insurance if financing above 80%. ...

Is there a way to get a HARP refinance if my mortgage isn't owned by Fannie Mae or Freddie Mac?
At this point No. Unless your FHA. Stayed tuned for HARP 3.0, which hasn't been spoken about yet.