I want to purchase a condo in southern California. I'm hoping to get a loan for about $400,000. What kind of income do I need to qualify for this?
Your monthly obligation including our new mortgage payments (PITI) not be more than 45% of your monthly gross income.

Should I let my 7-1 ARM just reset ? They aer telling me it will be cheaper than what I am paying at 5.25% for a jumbo.
Jon, Refinancing is a good idea if you can qualify for since the mortgage rates are at all time low, however if you do not refinance and your 7/1 rate resets, you might have a much lower payments for the next couple of years, but once the Fed's interest rate starts increasing, you have lost the...

Is it legal for a home seller to pay my closing cost?
Peter, depending on your lender and loan programs it is allowed for the seller to pay for up to 6% of your purchase price toward your Recurring and Non-Recurring closing cost

Does anyone know anything good or bad about Green Light FInancial? I am thinking of going with them for my refi.
Saeed,We are a Costa Mesa, CA based lender and our rates are as competitive as all the major retail banks. We offer No Closing Cost loans to consumers, there is no such thing as a No Cost No Fee loan since no one works for free in this county, however we have products that allows for your fees to be paid by the...

Buying My Best Friends Home?
Max, if the property is in foreclosure please call me for more information on how to move forward with such transaction. 949 242 5215,

Do I need Private Mortgage Insurance?
Jane, I am a Orange County based lender, please feel free to call or email me so i could explain to you in detail as what other options you have available. Houtan Hormozian - Houtan.Hormozian@Crestico.com / 949-242-5215

is 5/1 ArM a better option in this rate market?
That is correct Wayne, but Adjustable Rates are not such a good idea if you are planing on staying/keeping your property for more than 5 to 7 years.We are Costa Mesa based mortgage lender. please feel free to call or stop by for more informationHoutan HormozianHoutan.Hormozian@Crestico...

I need a lender
David, I am located in Costa Mesa, Please call me for more information 949-242-5215

what if i can't sell my house?
Mae,Few options are available for someone in your situation, the fact that you have not been able to sell your existing property has alot to do with the Real Estate Agent that you are working with. Depending on where your property is located we can recommend couple of Realtors to advise you. please feel...

Anyone have any experiance?
Hello Jessica, If you are still searching for a good Mortgage Loan Originator for your Washington state loan, i can connect you with an associate that i have found for another customer of mine who told me nothing but good about his experience with the MLO that he worked with. feel free to email me for his...

Husband is on a refinance with his mother can we get our own mortgage?
Jane,If you guys can refinance the mother's property without using your husband's name and income, you should do it regardless, it will release your husband from any future liability on that property, but if that is not an option and your husband's income/credit is needed to...

Closing costs on refinance?
You can do a refinance ( assuming you qualify by having good credit, equity in your property and proof of income ) on a 30 years fix @ around 4.5% with almost no closing cost. Please feel free to contact us for more informationHoutan HormozianHoutan.Hormozian@Crestico.com949 242 5215

A Lender In Another State
It is very normal for a mortgage lender to be licensed in multiple stats, you just need to make sure the Mortgage Loan Originator working with you is familiar with states specific mortgage rules and guidelines.

How Long Will It Take To Refinane?
Refinancing a property could take anywhere from 17 business days to 45 business days. If your property does not require any kind of repairs or re-inspections after the appraisal has been completed, you should be able to close your loan withing 3 weeks max.Please do not hesitate to contact me via email...

ARM or another 30 year?
If you are 100% positive you will sell your property within the next 5 years get a 5 year ARM but just to be on the safe side i would recommend a 10/1 ARM.Feel free to contact us for more information on Rates and Closing Cost included for Refinancing Houtan HormozianHoutan.Hormozian@Cretico.com949 242...

Whats The Best Way...
Mac, Here is my Contact Information and i am California based lender.Houtan Hormozian - Houtan.Hormozian@Crestico.com - (949) 242-5215

Refinance and HELOC?
Tanya, Lee said it the best, now you just have to have enough equity left in your property and be able to provide Income/Assets to obtain the new HELOC you are looking for.

If I own a business, and pay my self salary, will lender want paysutbs or taxreturn for my REFI?
It depends on the lender that you are working with, because it is common among self employed borrower to have high write-off on their taxes most lender's would want to see your Personal and Business Taxes to calculate your income. If you need more help please feel free to email me at Houtan...

Refinancing Down Payment
Hello Mike,The deposit on the refinance doesn't make much sense unless it was for application fee or appraisal, you need to contact your loan office and ask what the money was being used for. depending your scenario and if you are located in California we can help you to recover your down payment...

2 years of work proof?
Hello Mary,Yes it is possible to get a loan but it depends on few other factors such as credit, current income etc... please feel free to email me for more informationHoutan.Hormozian@Crestico.com or call 949 242 5215