NON-OWNER REHAB LOAN
Need details re the property, the transaction, and the loan you are seeking. Feel free to call me with details. 415-406-2330.
Am I being scammed?
I would go by the old adage, "If it sounds too good to be true..."Why would somebody who doesn't know you be willing to lend you $8,000 at 2% interest? Would you loan somebody you didn't know $8,000 at 2% interest?
mortgage insurance
No. If you are a qualified veteran, VA loans are available with as little as zero down payment and do not require mortgage insurance.
Refinance application
All good comments below. By the way, there are many lenders that do not charge an application fee. (Most I believe.) In fact, depending on how the person is licensed, it may not be allowed.
what is the difference between a conventional and a VA mortgage for the purpose of refinancing?
There are a variety of differences. Primary among them is that you have to be an eligible veteran to qualify for a VA loan. The programs are originated and underwritten differently. Each has advantages and disadvantages. Would be glad to discuss with you and find out your particular needs and goals.
can I refinance if Im 2 months behind on my mortgage?
Trying a loan modification is a good idea. You can try it on your own or thru an organization like naca.If you're looking for a short term fix and have good equity, you might try a private loan. If you can find one, it will be more expensive than a conventional loan.Good luck.
What kind of loan do I need to build a custom home
Most likely a construction loan. Find a good local mortgage originator who is experienced in construction loans. You can ask local architects, builders, and realtors if they can refer someone qualified. You can also do an internet search.
should we refinance a paid off rental property to pay off primary house
Depends on a variety of factors unique to you. Best approach is a team approach with your tax advisor, financial advisor and mortgage professional working together to provide you information that will inform your decision.
Is this a good time to buy or should I wait until investors buy all their investment properties?
Find a top notch local real estate agent if you don't already have one. Also find a top loan originator. Sit down with both and review your situation in detail. Then make a plan based on the advice you receive and what makes sense to you.Although prices have risen in many markets, they are typically still far...
What is a 125% mortgage? Is that HARP ?
A 125% mortgage is one where the loan amount exceeds the value by 125%. It could be a HARP loan if it is for a refinance of a Freddie Mac or Fannie Mae owned loan. It could also be for a VA or FHA streamlined refinance.Feel free to contact us if you have questions specific to your situation.
how much are mortgage rates?
Lots of factors determine what rates are available for you. Best to review your circumstances with an experienced mortgage professional. We'd be glad to review your particular situation and give you an idea of what you might expect. Feel free to contact me. We're near you geographically.