Can I purchase a home with FHA or VA and get funds to add on an inground pool?
Hi Again Jan4hh,The loan you'd want for "Luxury Items" such as a pool or similar add-on would be available through our Suite of homeloans including one called the HomeStyle Renovation Loan.The loan can be used to either purchase or refinance a home.And details can be obtained by contacting me...

US expats living in Australia looking to buy investment property in US
Hi Wcobbi,Or should I say...Goodday!You will be best advised to obtain a pre-approval by a loan officer working for a lender in the market where you would like to purchase your investmen property.I have done this many times for clients who work for any number of private firms or various US Government...

I have poor credit but my husband's is good. Can I gift a down payment to him to buy a home?
Yes, you can gift him the down payment or any part of the closing coss as his wife. Your credit has no impact on this decision Cynthia.Many loans require that gifting parties be related, certainly the Marital relationship would qualify for any such requirement.Documenting gifted funds can best be done...

I have a house that is located in Alexandria, Va. that was left to my brother and myself free and clear. I want to buy my brother
Sure there is. Most of us do requrie a 620 or greater but getting the isn't often that hard from a 608 so as my colleagues have noted, its best to sit down with someone who can help get you to where you need to be. If you and your brother own the home jointly now then you'll already own 1/2 of the equity...

mortgage rates today 20 year fixed in md
We can't be exact without a full file and credit score but the 20 yeAr was about the same as a 30 year at this point...Assuming primary residence and a strong file.Happy to run numbers

I would like to take out some equity on my home which is owned free and clear. I need to consolidate some credit card debt and do some renovation on my home. I also own a second property which was inheirited that has a reverse morgage that i need to refi out of.
Hi C_Wallace,We would do both simultaneously. This would assure you of approval on both transactions as one would not adversely impact the other. I'd recommend this step, particularly in light of the fact that the Reverse Mortgage continues to accrue interest until you've refinanced that balance...

where can i get an appraiser's license?
Hi corningside.jan8789189k,Are you looking to become an appraiser yourself or are you seeking information about a licensed appraiser?Each Jurisdiction has a registry of such professional licenses. You can use Google to find he licensing department in your area. IN Maryland its the Department of...

What is better home equity loan or HELOC
Hi Jilian,The answer depends on your needs. Home equity Loans tend to offer a fixed rate which provides you certainty.But Home Equity Lines of Credit are open-end similar to credit cards or "revolving" accounts. The advantages are many.1. Interest rates are usually lower.2. Ability to draw, pay back,...

I had a FhA loan 5 years ago..I sold the house..Do i still qualify for an fhA loan?
Hi Delreese...Yes, as long as your other credentials meet the guidelines you are not limited to getting another FHA loan. But these days FHA might not be the only loan you qualify for, particularly in DC where there are programs like DC OpenDoors and others that might be a more opportune financing...

i'm looking to refi thru fha streamline, would fico 670 get a good rate?
Shold not be an issue...just need to kno the rest of your picture to accurately advise you Glenn.Www.ronschwartz.info

Does FHA or Conventional have better rates?
Hi Lordes,Rates are better on FHA than conventional in most cases. Its critical that you and our readers understand that a rate alone should not be the only reason one choses this type of financing.You see, depending on the rest of your circumstances like your excellent credit score, your assets, your...

my credit score is 580, income yearly 50000, no debt, wanna buy house that cost 650000. can i get loan
With these credentials as the only qualifying information I don't believe you would qualify for any loan worth your te and effort. At this time the cost of borrowing is roughly $500 per $100,000.Lending guidelines would likely be out of reach as the income would not be sufficient to meet a monthly...

Is this normal?
Brett, Commercial lenders can request just about anything they want. Each makes up its own guidelines. But depending on what you are trying to do there may be some standards. If your business isn't established the business plan would certainly be something a lender would want to see. Tell us more about...

How soon before applying for morgage should i stop making big purchases
Hi Preston,Best thing to do is work with your loan officer right now. 4 Months is a very short time to work on any possible debt ratio or credit issues so the time for you toget a baseline on your qualifications is now. I am confident that my colleagues will agree, if we had the privilege of working with every...

hi I have income is 54700$ my credit score 680 how much loan I can approved
There is more to determining your eligibility than just your income and your credit score Moverx110.My best suggestion is to spend some time with a loan officer. There should be no charge for this consultation. The first consultation will show you what factors and other debts impact your...

How accurate is a mortgage preapproval
Hi Lon,That depends on the lender and what due diligence they have done up front. If your loan officer has completed the necessary work up front than you will know the limits, not the lender. Most often I find that I can lend clients more than they are comfortable borrowing. So communication, education...

Is there a credit limit for 100% financing VA loans
Hi there, Our VA loan program will not restrict the VA Borrower from 100% financing as long as there is a documented history of housing payments. As in all other loan programs there will be some additional scrutiny for you with a credit score like a 620. Best thing, work with a direct VA lender like....oh...my...

if the selling price is 144,000.00 what is a good downpayment? how can i qualify for the lowest mortgage interest? what should my credit score be?
Hi Mr. Romero,If you are purchasing a home in DC and you qualify at a >640 Fico Score and income

do short sale waiting periods change at all depending on loan type
HI Just Will,Hate to say...its a Depends. I'd need to look at the dates etc. to provide you with a qualified (and accurate) answer on this one.Short sales can be tricky in terms of which dates fall into what category of waiting periods.Feel free to reach out. Ron

Is there a way to buy a home - non FHA, Non Fannie or Freddie with 5% down?
I agree, unless there are the mitigating cricumstances where you'd otherwise qualify I'd wait out the 3-Year with FHA and perhaps even save some more $$$ along the way. But if my colleague Joyce Ettingoff has something off the beaten path I'd give her a call.