Forgotten Your Password?

Need to Register?

Jeff Albrecht's Answers


Mortgage on a house fully paid
Yes, the amount that you can request the loan to be for is less with 2nd homes or investment properties, versus your primary residence. You would still need to qualify for this loan as well as your other debts (mortgages, installments, credit cards). Call me to discuss 512-807-2951.
New to investment properties, help!
Hello From Austin, Texas. The maximum "Loan To Value" (LTV) in Texas, is 80% on your primary residence. So if your home is worth $315,000 and you have $60,000 of equity, then you are already at the maximum LTV on your primary residence. You are on the right track, but if the $315k were $415k, then...
VA loan for a guy with bad credit
Hello from Austin, Texas. Colonial National Mortgage lends in ALL 50 states. We can assist you with credit repair to get that 610 up to a 620. Maybe you allocate the $20,000 towards improving the scores or a portion thereof. The VA is one of the best programs out there (100% financing available with NO...
What rates are available to me for a home refinance?
We can also structure the loan with an 80% first mortgage, and if we need a 5-10% 2nd mortgage (so as to elimnate the mortgage insurance), we can discuss this after the appraisal comes back. Jeff AlbrechtWe lend in ALL 50 states!NMLS #176723Senior Mortgage BankerColonial National Mortgage, a...
what is interest rate on va loan
The VA % rates are fantastic right now! Call me at 512-807-2951. Jeff Albrecht Colonial National Mortgage NMLS #176723
Can you refinance a interest only construction loan prior to converting to conventional?
We'd require the CO (Certificate of Occupancy) before we'd cut it over from interim financing to permanent financing. Feel free to call me to discuss / Jeff Albrecht / Colonial National Mortgage / 512-807-2951
can i refinance with a LTV of 76% with a 630 credit score?
We lend up to 75% with a 620 credit score. I'm happy to assist you. We're also a privately held bank that will be servicing your loan for the life of the loan, so there isnt any being passed around. Have a safe July 4th! Call me or go online to my website, www.JeffAlbrecht.com 512-807-2951
Who can refinance my mortgage loan
Hayden:We're a Mortgage Banker - you will always receive our best % rate possible for your loan scenarios. We're based in Texas, privately held. I'd appreciate the opportunity to earn your business. Jeff Albrecht 512-807-2951 / Austin, Texas
Under HARP2, My LTV is less than 80% can i refinance?
We moved from Chicago to Austin, Texas. We lend in ALL 50 states, and the HARP % rate for us this morning for Fannie is identical to our 30 year fixed / please call to discuss and I can walk you thru this process. We lend for HARP up to 97%, so you are good with your 80%. Jeff Albrecht 512-807-2951 / Mortgage...
I own a home with no mortgage and I want a fixed rate HEL should my bank be pushing me to get a HELOC instead?
The mortgage industry is shying away from HELOC's in 1st lien position. It'd be easier to structure your loan as follows - let's say that you wanted $100,000 - but you know that you will always be using $60,000, but you'd like an extra $40,000 for your variable needs. So we would...
Interest rates up front? Any way to fix that?
Hello from Austin, Texas - we used to live in Schaumburg. Refinance? If you look at the total payment (PITI), it is cheaper to pay the 23-24 days of interest than a whole August payment. If yo uwaited to close your loan until August 28th and have 2 days of interest, you'd then have to make your August...
I own a duplex, owner occupied, paid in full but it needs a roof and cosmetics, mostly curb appeal.
Since this subject property is "paid in full" - then let's do a new loan, and send you home with the equity via a cashout loan. Then you do not have to mess with the construction loan, or a 203k loan, etc. We lend up to 70% of the appraised value of your duplex. Call me to discuss - and yes, I am...
Who can refinance me if I have LPMI?
We lend to a 97% LTV for the HARP/Fannie Mae DU Refi Plus. The value of your home (as you mentioned might be 121%) will be determined by the DU. You might get a PIW (Property Inspection Waiver), depending on the value that you believe your home is worth and the statistics for your MSA. Or you might bet an...
I own 4 rentals, want to buy a 5th as primary
Hi. We lend to borrowers with up to 10 mortgages. "Mortgages without Obstacles!" I also just did a Conventional loan of $417,000 with 3.0% down (with good credit, and a 40% debt ratio). I'd be happy to assist you with your mortgage needs. Click on my picture, for all of my contact...
Is it possible to rent out my home (with an underwater mortgage) and still qualify for a mortgage on a new home?
Most occupancy affadavits require that you have lived in your "Primary Residence" for a year after you refinanced or bought the home (that you wish to now rent), so if you are after the "year + 1 day" => then purchasing a new home and renting the other one is do-able. Call me to...
I would like to buy a house for 190'000 but I have a low credit score of 630. My income is 72800 per year and I live in Illiinois.
Please be proactive! Call me (512-381-4643) and after we review your credit, we will email you a copy of the exact credit bureau report that we will use to Underwrite your purchase. Quite a few people have very simple fixes that will improve their scores, thereby getting them a better % rate on their...
Follow up to my original question can we get a fha mortgage in illinois with a middle credit score of 623.
Small world / we used to live by the "castle" as my kids called it, Dunham and Army / Hello from Austin, Texas - we moved here from St Charles. PrimeLending is a Mortgage Banker and we lend nationwide / I'd also be happy to assist you with your mortgage needs. One of the things that you can do...
What money can be used to pay for closing costs etc. when purchasing a house?
Also, when purchasing - if you do go FHA, the Seller can contribute more (up to 6%); versus 3.0% if you go Conventional financing. I had a young couple - and they closed for FREE - the Seller paid ALL of their closing costs AND they had $100 left over to get their carpets cleaned / all they came in with was their...
Home equity loan with good credit but hight debt ratio
You are actually closer than you think / it is all in the math. I would have 2 concerns: your credit / and your new debt to income ratio, as the new loan to value would ideally require the appraisal to come in more like $110,000-$120,000 to make this work. Ideally - if you have a 660 credit score => then you...
I must move 65 miles away. Should I rent or buy a duplex which will help me cover a mortgage payment?
I'd recommend getting a feel for the area first. I commuted and stayed with a couple from a local church for $300 a month and that included everything (internet, all expenses). I was even privileged to be invited for dinner. Every day after work 430-500pm, I would scout the area based upon what my new...

Subscribe to our news feed.