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Donna Gagnon's Answers


am i able to get a reversed mortgage under these circumstances:
Hi, I am a Brookfield Wisconsin lender that specializes in Reverse Mortgages. Yes, it appears that you would be eligible. Please contact me for details. CiCi Murphy Assured Mortgage 262-754-4010 Direct. www.cicimurphy.com
An elderly couple the money you borrow on the equity of your home in a reverse mortgage count as income for Homestead credit?
No, money from a Reverse Mortgage is not taxable. It is a loan against your equity in the home. CiCi Murphy, Wisconsin lender specializing in Reverse Mortgages. 262-754-4010 www.cicimurphy.com
what's the minimum credit score required for an fha 5/1 arm?
Hi Maureen, in a 5/1 arm the interest rate is locked for the first 5 years and cannot change during that period. So if your goal for home ownership is a shorter period of time, an ARM may be perfect for you. The minimum credit scores vary from bank to bank but usually we would consider 640 to be the minimum....
loan for adding handicap accessibility?
Yes, you could use the reverse mortgage for that. The advantage if you have low income is that you do not have to make payments on that loan. You would just need to keep the insurance and taxes on the home paid, just as you currently do.
Ca you purchase a home with someone even if you're not married?
Yes you can purchase a home with someone if you are not married. Please feel free to call and we can discuss further. Thanks, Dave 262-754-4005
ca i qualify for a no money down usda mortgage with a 695 credit score?
You sure can, however there are other requirements that need to be met to qualify for a USDA Rural loan. I would be happy to help review your scenario to make sure that you qualify. Please call me to discuss 262-754-4005 Dave Laitsch NMLS #272285 262-754-4005
Need to lower my mortgage payment
Yes, 5.75% is a high rate and with a score of 677, you should be able to reduce it by quite a bit. There are many options to consider whether through Fannie Mae or FHA.Please feel free to contact me to discuss your scenario. 262-754-4005 DirectDave Laitsch NMLS# 272285

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