I am looking to see if I would be able to purchace my own home, I have a well paying job, good career and am working on my credit. I do not have relatives or friends to co sign, I am 44 and ready to do this and stop giving others my hard earned money every month and living in dumps. Can you please help me see if this is something I can finally do!
Hi Anne,You are definitely working in the right direction! Your credit scores and credit history will be a defining factor in getting a mortgage. If you need assistance with that or need help in putting a plan together for healthy credit, please contact me. It may be a situation where you can't...

Is there a penalty to refinancing a first and second mortgage into one loan?
Not at all. There is never a penalty, however, certain characteristics do affect final interest rates. For example, credit scores, cash out financing and loan-to-value are a few of the factors that can increase an interest rate. As William explained, your loan-to-value is low. Now, providing you have...

short sale
Or not....

Change Lender prior to closing
This is disheartening. Unfortunately, loan officers come in all shapes and sizes, some knowing their craft well and some who should (in my not so humble opinion) find another job.I would absolutely start the process of a second opinion from a reputable loan officer...one who knows what he/she is doing.

is it possible to combiene closing costs in with my mortgage principal?
Dan, it is extremely common place in MN to obtain 3% seller paid closing costs on a home purchase. This in fact, is doing exactly what you want....rolling your closing costs into the transaction.The down payment amount is pretty negligible in the way that it affects interest rates. In fact, it may make even...