What "first-time" home buyer programs are out there to take advantage of...?
There are quite a few options to consider. FHA (Federal Housing Administration) would be the most basic program to consider. It requires a 3.5% down payment. There are no income restrictions and the credit score requirement (typically 620 minimum for most lenders) is very accomodative. The main...

what type of loan
There are a couple of options. As others have indicated, the typical answer would be a FHA 203k (streamline). Keep in mind that there are two versions. There is the 203k streamline and the FHA 203K. The difference is the streamline 203k has a maximum amount you can build in for improvements of $35,000 on top...

Will we qualify?
As long as the middle score for both borrowers (since you are looking to use both of your incomes) is 620 or higher, you shouldn't have a problem going FHA. I am a local mortgage broker/mortgage banker. We specialize in FHA loans and this seems to be the route that you would need to go. It is possible to...

60% LTV with 600 Credit Score
In order to do a cash out refinance, you would need a 620 score, so your current score is close. You could then in all likelihood lower your current interest rate AND get money. A cash out refinance on a FHA loan can be done up to 85% of the value of the home. This would be the way to go. Today a 30 year fixed FHA loan...

Is it possible to get a HARP refinance with a discharged bankruptcy?
Yes. Others in this forum have specifically answered the question. See Bert Carpenter's answer. If you are looking for a local lender, I am the Branch Manager for Freedom Mortgage in Appleton, WI and would be happy to assist. Please call me at 920-731-3175 or email me at joshua...

Looking to buy in Wisconsin, my score is 615 and my wife's is 640.
We offer FHA financing down to a 580 score with a 3.5% downpayment and FHA financing down to 560 with a 10% downpayment. Certain parameters on sufficient credit must be met as well as standard FHA guidelines. All judgments must be satisfied and 2 years from a bankruptcy chapter 7 discharge is required and...

Is it possible to get approved for an fha loan with a credit score of 590?
Yes it is possible to do a FHA loan with 3.5% down with a middle credit score of 580 or higher. We offer them and I have closed them recently. I am licensed in Wisconsin, Michigan, and Minnesota if you happen to be buying in one of those states. There of course are specific requirements. If applicable, please...

What is hard money lending
The benefits of hard money lending are typically: 1. Easier to acquire the loan (i.e. less hurdles to jump through and can typically close very fast) 2. Credit score is not a factor 3. Debt to income ratio can be higher and still close 4. Time frame from bankruptcy and or foreclosure is typically not an issue...

it only 2k loan i had in 2010 i still have 11 more months to pay off of 72pound if i ask 2k loan again would bank deter payment fo
Deferring the payment in this case seems like deferring the problem. If there is a way to payoff the loan with a lower interest rate loan, then that would be beneficial. Trying to locate a source that would offer a better rate and or repayment terms would be advisable. Specific information on the exact...

Do you think rates will go up, down, or remain as we go into the first two weeks of 2014. Set for COE Jan 24 and have not yet lock
The consensus among most analysts is that the ten year yield will steadily trend to 3.25% throughout the year. This would put pressure on rates and mortgage rates would therefore rise.The better question to ask is, what would happen if you remain floating and rates spike (which is most certainly the...

Construction Loan?
I am not aware of any construction loan programs that would work for less than a 660 middle FICO score--and only putting 10% down would also be difficult--most construction loan scenarios require a minimum of 20%. The only option that may be possible that I can think of:1. Would the builder build the...

what is the interest rate for an fha loan for someone with a score around 580
Assuming a loan amount of $100,000 or higher (the loan amount makes a difference on the rate), you could do 4.75% for a 30 year fixed rate FHA (5.834 APR). This is a rate from one of our sources. It is considered a FHA specialty product. There is no prepayment penalty and has all of the standard features of a FHA...

lender fees all due along with a down payment before moving in?
With regards to a FHA purchase (which requires 3.5% down and seems to be what you are referring to): the 3.5% downpayment is the required contribution. It is important to understand this as a contribution as the appraisal fee and the homeowner's insurance premium for the first year for example, can be...

If your second loan is purchase money, you may be able to combine the two loans using the HARP Program.
The HARP program does not allow the combination of the first and second mortgage (per the other lender's comments as well).Another option, depending no equity you do have would be to consider a FHA loan. You can refinance a Conventional loan to a FHA loan and combine the first and second mortgages up to...

fha vs va?
VA loan is the best choice if comparing against FHA, just as all the other lenders have commented.If you were going to put 20% down, then you might want to consider a Conventional loan, which would not have a funding fee. The Federal VA loan has a VA funding fee if you are not disabled. If you are a disabled...

Can I put her name on the house if we are not married?
As long as you are doing a FHA, Conventional, or USDA loan then you can put her on the loan. As the other comments have noted, the lender will look at the lower of your two middle credit scores. Assuming your girlfriend has a usable score and also does not limit the purchase with the presence of judgments, a...

Bought home 5% down. Newly renovated. Can i cancel PMI?
In an effort to provide further information, noting that the other lender comments seem to have answered your question.You may wish to determine whether the value is there first. If you contact a lender, I am sure they will walk you through refinancing to a Conventional program, which is the only way to...

With rates low does it make any sense to pay points to reduce the rate even further on a 15 year fixed rate refinance?
Paying points is simply an upfront bet that interest rates will not go down in the short term. In the event that rates went down in the first few years of the mortgage, you could always refinance and typically this would be a cheaper alternative assuming you retain your job, you maintain your debt to...

626 and 640 Milwaukee 1st Home
We offer FHA loans down to a 580 middle score with a 3.5% downpayment. The minimum standard downpayment for a FHA loan is 3.5%. I am local and would be happy to help you. I have done many loans in Plymouth Wisconsin. I am located in Appleton Wisconsin. I have a banking license and a broker's license, so I can do both. ...

are there any benefits in buying a foreclosed home?
Yes it can be beneficial. The main benefit is obtaining a better acquisition price. However, certain financing programs are available only for foreclosed homes (i.e. Homepath, Homesteps, etc). These programs are better in certain respects than other programs--namely you can purchase the home...