First time home purchase
Tom I like the initiative. Qualifying for a loan now is a pain, but it sounds like you're not going to have a big problem. Although there is a possiblity to get you approved for conventional financing an FHA loan is probably what you will end up with meaning options 1 or 2 will be your best bet. We are one...

Tell us the best option please!
Hi Guys,I just saw your question and being that my wife is a realtor I have had plenty of people in your position. Instead of giving you a general answer I would like to go over some more details and get you over a breakdown of your options taking everything into consideration. Give me a call at my office at...

do any lenders allow flexibility?
Are lenders fexible with the DTI? The short answer is yes. If you have money in stocks/bonds, 401K's, etc. along with your high credit scores we can get away with a higher DTI both on conventional and FHA loans. Unfortunately those guidelines are changing soon so hopefully you are going to buy the...

self-employement issues
Common problem, but there are ways to play around with your income to make it work. We can add back the depreciation and average it out over the past 2 years. If you want a quick review by my underwriters email me at mboyce@emmloans.com and I'll tell you what your options are. Depending on your state we...

newbie question
Those interest rates are extremely high. I know our no closing fee loans haven't gone above 5.5% so I don't know where they are getting 6.125%?? I also am not a big fan of the 80/10/10 especially with the 2nd at 8.75%. There are better programs available to you. Give me a call if you would like on...

If unemployment comes down and economy improves, is that actually bad for mortgage rates?
Before making a decision take a look at your loan docs to see what index and margin you have with your current loan. You may adjust well below current rates making it worth it to hold off for a while. If rates start trending significantly upwards then you can look to refi.

Is a Refinance Possible If We Missed A Payment?
Hey Jeff. Well you obviously have done some research. Yes our bank can manually underwrite the loan and get it done... especially if there is a reasonable explanation. I guess just give me a call so we can get figure it out and get to the bottom of what we can do. My number is 888-327-7121. Call anytime.Thanks,Matt

Will the rates come back down or is this it?
The honest truth is nobody really knows. They said when the QEII came out rates would go below 4%. Then when they started rising they said just wait and they'll come down when the jobs report shows an increase in unemployment. When that happened the OPPOSITE occured and now you're lucky if you...

Non Fannie Mae or Freddie Mac Loan Refi Question
Ummm. Did ya try running through DU and AUS? 97% LTV is going to be your max WITH MI even if you qualified through DU Refi Plus, etc. because the MI companies won't allow higher LTV. This is a question for your underwriter. Worst case is they suck it up and pay the MI. FHA rates will be much better anyway plus...

arm 5/1 rate
Bottom line is 99% of the rates you see online are advertisements and to test that just click on them and most likely you'll be contacted by several lenders trying to sell you.Unfortunately there's no clear cut way of giving rate quotes being that every bank has their own profit margin as...

New Home
Purchasing a home is a very tricky process and unfortunately a lot of banks won't actually review your loan until AFTER you put a deposit down, pay for an inspection, appraisal etc. At that point the rate and terms of the loan could change drastically.It's always a good idea to talk to a couple...

Can I buy a home with no down payment and a middle credit FICO of 749?
Great questions... and great city you're in. There are a bunch of options for you: FHA will allow you to only put down 3.5% with a great interest rate... Conventional mortgages allow 5% down and there are other programs such as VA and USDA that will do 100% financing. Email me anytime to discuss at...

Could I be approved for a mortgage?
Hey Betty. I'm the purchase manager at my bank and work with buyers like yourself everyday. Qualifying for a mortgage these days has unfortunately become a tedious process, but one which I can guide you through without a problem. One thing that I do that's different then most banks is...

How will the lack of rental history affect my home loan process? Other questions too...
Chris... Looks like you've put a lot of thought and energy into this, which is great because you're giving yourself enough time to pave your way to getting ultimately approved. Honestly you just need to have a (competent) loan officer run you through underwriting and give you an...

Refinance in Pittsburgh
You may be eligible to do a no closing cost and no appraisal refinance. Unfortunately large banks like GMAC don't have the quality loan officers to know about all the programs available. Feel free to email me at mboyce@annie-mac.com for more info. Thanks!

middle score of 600 can I still get FHA for home purchase in PA?
First of all you're 40 points away from qualifying for the 'normal FHA' program with 'normal' rates so I would do a credit analysis to see if we can pay down some accounts, etc. to get the scores up. A lot of times I can raise my buyers scores immediately so we can get you the best...