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David Sheir's Answers


Is it possible to refinance an ARM mortgage for a 30-year fixed after you've owned a property for three years?
Not only is it possible, but in most cases, I would recommend it given the current low interest rates. The only reason it may not make sense will be based on how long you plan to live there in comparison to the cost of the refinance. This is also called the "break even." Please feel free to contact...
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:Planning to purchase a home can seem over whelming. You are headed in the right direction. The next step is to talk to a mortgage professional who can listen to your goals and then plan a course of action with you.In reviewing your current finances and credit, the mortgage professional will...
How is DTI calculated? What is a good DTI? DO student loans count against DTI?
For a conventional loan, all student debt payments are counted in your DTI, even if in deferment. If and FHA loan, and verification of deferment can be made for at least one year from the closing date, then you do not include in DTI.For conventional loans, DTI max is usually 45%, but can be lower in certain...
How Many Mortgages Can I Carry?
If seeking a "conventional" mortgage (one underwritten in accordance to Fannie Mae guidelines), you can have up to 10 financed properties. Conventional mortgages typically have the best interest rates. If more than 10 financed properties, you may be able to secure a...
What are my options for a VA Home Mortgage Loan?
Hi Jared. A VA loan is the best mortgage program available in our country today. It has a zero down payment. The rates are extremely low on this program right now as well. I originate many VA loans and would be happy to assist. I am based on Fort Lauderdale and will be happy to meet with you in person. Feel free to...
Is a HARP a possibility in our situation?
Yes, it's sounds HARP eligible. I can tell you what a new loan would look like pretty quickly. I am located in Florida. Feel free to contact me at 954.448.6153. David Sheir, Guaranteed Rate, Inc.
Going through mortgage broker how does it work
If your talking about a "Mortgage Broker," then their job is to take all of your information and place you in a program that they feel fits your credit and financial profile. Your file is then reviewed by the bank or investor that will ultimately lend the money. This third party will then approve and fund...
can we apply for a mortgage completely online?
Yes, most lenders today have the technology that will allow you to complete all phases of the mortgage process online. You can even close remotely. With internet, e mails, document scanning, etc., this is all possible. You just need to find a lender that has the technology and is licensed in the state...
whats best corse of action for gettig my ex off the mortgage
First, I would check with the laws in your particular state. Typically, a person can be taken of a promissory note (i.e. the obligation to pay - for which most people call the "Mortgage") by refinancing it without the ex-spouse on the new loan. Then, simultaneous with the close of the new loan, the...

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