Can I borrow the downpayment for my fha loan?
Hey, if you were in Indiana, I would be able to say a direct "Yes" to you. With no Buts about it. . . we have a 100% FHA program out there for people with good credit history yet no down payment in the bank. I bet you've found something by now, but I wanted to be sure I've at least answered you. Best of luck to you!

can i refi with about 20% equity in my home?
Rob is right. You can refi your home with 5% equity minimum. Feel free to contact us as well - www.winterwood.net or direct phone line 317-215-6687. As a mortgage broker, we have access to excellent rates as well as quite a few lenders that work with borrowers of all kinds of credit. Let's discuss if this would...

is there any lender that can do FHA cash out refi at 85% with a fica score of 625?
Yep. I have a few. Give me a call - 215-6687 Thanks I hope to hear from you soon. Joel

I am looking for home equity rates in fort wayne, Indiana
Jill.... my name is Jenny Stamm and I am with First Financial Bank (www.bankatfirst.com). I am the lending specialist for my location. Our Home Equity Line of Credit product has the following rates and benefits: No closing costs, no appraisal fees, and the rates are as low as 2.99%* up to 4.99%* depending on...

Down payment and closing cost help
Feel free to give me a call 317-215-6687 - I have a 100% product you just might like that is NOT USDA - since Beech Grove doesn't qualify anyway for USDA. Also, I'm local here on the South Side of Indy. If you ever need any help, or just would like to chat about your options, I am always available. I would love to...

paying fees and points during refi??
Milton Friedman once wrote an economics book entitled "There's No Such Thing as a Free Lunch." We have all heard that statement. We all know nothing in life is absolutely free - it costs money to someone. If you were to refinance, you do need to recoup your closing costs at a minimum of 40 months by what you...

Buying after short sale
You actually cannot get a loan with a bank that sells directly to Fannie Mae or Freddie Mac unless you are at minimum 4 years removed from a short sale. And that is with 10% down payment requirements. You need 20% down if you are 2 years removed. The only thing I would suggest is walking into your local credit...

how much would my interest rate change if i increase my credit score?
There is no advantage to 760-770 range. In fact, most lender's benchmark credit scores for what we call "prime" interest rates are at 740. Besides, 735 is not what your mortgage credit score is unless you have had another mortgage company pull your credit for you. There are different algorithms for...

unemployed retiree needs income for mortgage
Absolutely! Give me a call - 317/450-8394. I would love to discuss this with you at your convenience. We work with all kinds of income - fixed income is no problem.I'm looking forward to speaking with you and assisting with your purchase.Sincerely,Joel AsburyWinterwood Mortgage Group, LLCNMLS ID...

Can i go back to a 30 year loan from a 15 year when i refinance ?
Sure can! Give me a call at your convenience - 317-450-8394 - I would love to discuss it further with you! Looking forward to our conversation.Thanks!

how much is the conventional mortgage insurance rate?
It's a reflection of your LTV - or Loan to Value. The bigger your down payment, the smaller the mortgage insurance premium. Of course, if you go with an FHA loan, you will forever pay mortgage insurance! But know this about mortgage insurance - every bit of it you pay becomes a tax deduction on your next...

can i get a conventional mortgage with less than 5% down?
James said exactly what I would have - but. . . You do need minimum 5% down payment for a conventional mortgage, but those funds can be gifted to you from an acceptable source. Note also If you are just looking to get into a house now, there are programs I have available with less than 5%. If you are interested, I...

do fha lenders accept credit score as low as 580?
Certainly! Give me a call if you would like to discuss things further. I would love to help any way I can. FHA has no "set" credit score criteria, but it's up to every lender to decide if they will take a 580 credit score. There are contributing factors these lenders look at as far as the risk they would be...

We are purchasing a home and want to know if it is normal practice for seller and buyer to split closing costs 50/50?
To make this as simple as possible: Sean is correct - you normally see the Buyer and Seller splitting the "Settlement Fee" at closing (which is the cost you pay the title company to use their facility and/or facilitator to close your loan). When you break it all down, the Buyer and Seller then agree to...

Does income determine my interest rate or will credit score be the main factor?
Income is only a factor in how much you can afford. Credit score helps determine your interest rate, but interest rates are not set as far as availability. Give me a call to discuss. You should understand the differences, and it's my job to communicate those to you. I'm free right now - 317-215-6687 - and...

Can I transfer a VA mortgage to a non-military family member?
VA is always assumable to your relatives. Was she your beneficiary when you signed up for the loan to begin with? If not, you will need to contact your lender so she can be made your beneficiary. Call me if you have any questions. Thanks!

Can usda loans work for investment properties?
Unfortunately, no. USDA is only for primary residences. Investment properties can only be bought with Conventional loans. Government loans in general (VA only exception) require you to use them only on primary residences. You can only hold one FHA and one USDA loan at a time. VA you can hold up to the total...

do lenders use highest credit score for determination of mortgage rates?
Where are you looking to buy? If you want anywhere around the Marion County area - (so the 9 surrounding counties plus Marion) - we have a lender that will just use your TU score. If not, lenders use your middle credit score. But - let me tell you this - lenders will lend to you as long as you meet their criteria....

Will my fha mortgage insurance go down if my down payment is bigger?
The only way your mortgage insurance will go down is if you change your loan program to a 5% down Conventional mortgage. FHA mortgage insurance is currently at 1.75% - and will be for the life of your loan - whereas Conventional MI is much lower. Typically you would begin with between 0.55% to 0.85%. But, you...

can i refinance with a second mortgage that has 30 day late payments in the past 12 months
As long as six months have passed since your last late date, sure can. Give me a call if you want to get started - 317-215-6687 - Thanks for asking!