15-yr vs 30-yr
If you look at the numbers it always shows 15 year is betteron a 30 year you will pay $3037 for 360 months = $543,363.33 in intereston a 15 year you will pay $4207 for 180 months = $207,343.36 in interestA difference of $336,020 in interest, but you will also own your house Free & clear after 15 years, so...

Senior Citizen purchasing a vacation home..
It sounds like your Mom is in a good financial position. If she is looking to buy a 2nd home she will have plenty of options, especially her credit scores and the fact she has assets. I Live in Colorado and would be more than happy to talk through what is available. If you give me a call or send me an email I can...

Typically, how long do you have to wait after being favorably discharged from bankruptcy before acquiring a Home Equity Loan?
For most investors there is a 2 year waiting period after your Bankruptcy has been discharged.

Do you have 100% financing for a home with 38 acres?
USDA is one of the few programs that will do that. Unfortunately they are petitioning the government for more money, so they could potentially out of funds until July possible August. Call or email me when you have a chance, so we can talk more about your specific situation (866) 218-9696,...

I was just laid off, is it possible to continue with my close or am I eligible to get escrow deposit back?
Every investor out there will verify your employment withing 24-48 hours of closing, so even though you've turned everything in, they will find out in the 11th hour you do not have a job.Typicall you should be able to get your money back, because you no longer qualify for the loan you were approved...

10 percent down- Is this enough? Is there hope?
If the condo is non-warrantable, you may require a portfolio lender to look into your situation. I have a couple of portfolio lenders that will work with non-warrantable condos, it just depends on your strength as the borrower. give me a call or send me an email so we can discuss your...

Which Credit Score?
Most every bank will take the middle of the 3 bureaus. I do have 1 investor that will use the high score, but they are the only ones I am aware that will do that. Even if your other scores are lower, you would still get a great deal if the mid is higher than 700, even better if over 720. You are welcome to get in touch...

Selling My Home, Too late To refinance?
That's a good question. Typcially you are not able to refinance with the home on the market. Servicers obviously make their money by collecting interest on your loan, so if your loan pays off within the 1st year, they will lose money and since investors dont like to lose money they all require your...

how to refinance when you are told the property does not meet certain guidelines
You may also have other options depending on what type of mortgage you currently have on the Condo.If you contact me I can help discuss what is availableEddie Stephen866-218-9696eddie@edtheloanguy.com

Reverse mortgage question
As long as you meet the age and equity requirements for Reverse mortgages, you should be able to get one. If you have questions on how all of that works you can give me a call Eddie 866-218-9696. I have helped many homeonwers work on their reverse mortgages, I would be more than happy to help answer your...

mortgage after bankruptcy and foreclosure
Typically the waiting period is 24 months on Bankruptcy, and 36 months for Foreclosure. If you give me a call I can help instruct you on what you need to do now, to obtain financing down the road. Eddie 866-218-9696 or eddie@edthloanguy.com

Am i Responsible for the mortgage?
I am sorry to hear about the passing of your husband. Since there is a mortgage on the property they will require monthly payments to avoid the possibility of Foreclosure. Even though you are not on title the property will go into your husbands estate, so if you are his beneficiary everything (debts...

I want lower to 25 year fixed. Is appraisal required
Not necessarily it will depend on what type of loan your currently have. Also depending on the findings feedback, you can sometimes get an appraisal waiver so you don't necessarily have to get an appraisal. Let me know if you have additional questionsThanksEddie@edtheloanguy.com ...

what should my credit score be before a lender would loan me money
This will Vary from lender to lender. Depending on the type of loan you get it can be as low as 600. I can review your credit situation with you and give you some direction on how to put yourself in a position to purchase a home Let me know if you would like to discuss you options further.ThanksEddie Stephen...

Would like a rate on 15 yr fixed refi
We have some great rates and with the bond market improving again today we should see the 15 year rates improve even more. Let me know how to get in touch with you and I would be more than happy to help get you the best information for you to look at.ThanksEddie Stepheneddie@myhomeloanhelp...

Is an FHA Hybrid arm whith a fixed rate for 5 years at 2.87% and can be converted to a fixed rate anytime after 6 months a good idea when I currently have an FHA 30 yr fixed at 5.25?
Certainly the savings and low rate would be a good idea. The question would be what rate would you be able to convert it to when you lock in the Fixed rate, and are there any costs associated with converting it to the fixed rate? If immediate savings is your goal, this sounds like a good plan, keep in mind you...

Can I buy a house with a 630 mid credit score?
Yes, its depends on the reasons why your credit is a 630. I have the ability to get mortgages even down below a 620 for the right fit.give me a call and I can help get you some additional information866-218-9696 Eddie

I hear about these different ratios when qualifying for a mortgage.
Front End ratio is how your gross income compares against the full mortgage payment. Back end ratio, is how your Gross income compares against your mortgage payment + all of your other payments.What they want to make sure is that you are not taking out a mortgage payment that is 50% of your income.You are...

where do I report loan officers who keep calling me?
Loan officers are regulated through the Department of Real Estate (DORA) in Colorado. If they work for a bank they may not be required to obtain licensing, so you would need to contact the bank directly

less than 75 % LTV for investment property?
You can certainly refinance at 80% for your investment property. Rates are typically better for 75% LTV instead of 80%. If you would like to talk about it to know your options give me a callEddie Stephen 720-217-2200estephen@loansimple.com