how to refi a underwater, non-fannie mae or freddie mac loan
Your options are slim. If you are already in a FHA loan or a Veteran it is very possible to refinance. Or you can simply wait for HARP 3 if that program ever comes into existence. Home values are also on-set to appreciate another 6-10%. Another option is to consider a loan modification if you are really...

how much are the closing costs?
The closing costs listed below represent our best estimate for a typical mortgage application. We try to be as up-front as possible. Upon submission of your loan application you will receive a detailed Good Faith Estimate of Closing Cost with accordance to your specific loan scenario. In some cases,...

Can I refinance an investment property with HARP?
Yes, as long as you are current on all payments, have decent credit, and your loan has been backed by Fannie Mae or Freddie Mac prior to June 1st of 2009. If you've done a refinance inbetween that time to now, or have done a loan mod, you will not be eligible.

How do holidays affect mortgage closing?
It can close if your lender is open for business but it will not fund on that day usually. Banks and lenders are almost never open on federal holidays. If it's a purchase the loan generally funds the next day after closing, if it's refinance there is a 3-day recision window before the loan funds...

become a mortgage broker
They have just changed the requirements as of January 1st this year to where you must have a mandatory 2 years of full time experience in order to get your broker's license. You also will have to take the broker exam and go through the pre-licensing requirements, and aquire a surety bond. Mortgage...

Can I purchase a home with FHA or VA and get funds to add on an inground pool?
In short. For VA, No. For FHA, yes - but only for improvements.

Can my son or daughter Assume my VA loan
You have three options:1. In cases where a veteran home-owner gets a divorce, the VA will allow for an "unrestricted transfer". This is only allowed when the military spouse and non-military partner are co-borrowers. The VA will strongly urge both parties to sign a release of liability so...

Need a jumbo loan in CA, purchase price $725,000 with 10% down?
You can also consider a FHA loan. They just however increased the down-payment from 3.5% to 5% down. More information will be necessary in order to determine your rate. A Conventional loan will require 20% down. I do know of some portfolio lenders that have special programs that will allow for under 20%...

HARP 2 refi on our current home, but we want to purchase a second home soon and make it our primary residence. Is this possible?
Yes, you will be able to refinance your curent residence with HARP 2. As long as your loan was purchased by Fannie Mae or Freddie Mac before June 1st of 2009, and your meet debt-to-income and loan-to-value requirements. A lot of lenders have done away with the unlimited loan-to-value HARP's, but...

If I refinance my primary residence today, can I then rent it out to use the income to qualify for a new mortage?
If you refinance it as an investment property you can, but if you refinance it as an owner-occupied residence, there is a 1 year seasoning period. We are a direct lender and full-service brokerage in California. Give us a call at 888-733-4224 if you ever have any questions.

I want to see if i qualify for 2.35% to streamline my FHA mortgage?
That is more than likely just an "advertised" or "teaser" rate. As William mentioned, lenders and banks will use these rates just to get you in their door and earn your business. We are strongly opposed to this bait and switch strategy. Their is likely to be more costs, or points...

Can you get an 80 - 10 - 10 jumbo in TN
There are options available at 80/10/10's again. The key is holding your first loan to $625,500....even doing a 75/15 if necessary.These loan types aren't widely advertised because they don't exist either on a conventional conforming or portfolio jumbo basis. The path of least...

Is it possible to purchase a home with another one in foreclosure?
I like Dave's answer the best. That is your best bet to build equity while waiting through your 3-year seasoning period. Otherwise, save up and make an all cash-offer, which I'd imagine being very difficult especially if you have to rent at the same time.

My ex is alloiwing our house to be foreclosed. Can I purchase a new home?
Don't let her allow it. I would recommend a short-sale, or a loan-modification even if you are struggling with payments. A foreclosure will hurt you much more in the long-run. There is going to be a long seasoning period before you can EVEN consider purchasing another home, or even refinancing...

Do FHA interest rates stay the same nationwide or do they vary?
Interest rates vary by state and by lenders/banks. It is always best to do your due-dilligence and shop multiple lenders for the best possible rate.

Will PMI automatically get removed for conventional loans once the LTV reaches 80%?
You have to request for it to be removed by the lender.

Where do I fill out an application?
Call your local Broker. They are approved to work with multiple different banks and lenders and are well-versed on guidelines, overlays between different banks and experienced.Good luck!

Are the HARP refi rates typically higher than normal rates?
They are generally in the same area as conventional rates. The reason most people use a HARP refinance, is because they have a higher loan-to-value ratio and if that's the case then you probably will qualify at a higher rate than conventional rates. So I think the best answer would be most of the...

Can I get a VA loan with a credit score of 600 to bulid a house
Unfortunately not at this low of a score. I would have you go to credit repair to remove the blemished on your credit report. Thus bringing up your credit score to a 660 for the VA construction.IF you are active duty and were not able to pay your bill due to being deployed we can proceed with a VA purchase or...

We have a conv loan, first at 168,900, second 47,790 appraised last yr for 193,000.
This is doable. We would make a new first loan amount of about 170,000 and subordinate the 2nd lien. We would do this under the Harp 2.0. The 2nd mortgage would have to be willing to accept the Subordination at that level. Most 2nd mortgage lenders will not like the fact of going to the 15 year instead of the 30...