Broker vs lender?
More options typically with a broker. Plus they pull one credit report and can shop multiple lenders (that typically do not have a storefront you can walk into) and are usually more competitive than the street corner bank whose LO's are told what the rate is each day (usually). Brokers shop rates...

How does a refinance work?
There is no catch to a refinance. There are closing costs which is how a broker/lender gets paid. 2 types of refinances: Rate and Term or Cash-out.A R/T only refinance is where you refinance in order to change the rate and/or term of your loan only. For instance, you may have paid for 6 years now at 6.5% on a 30...

Is it safe to get a loan?
Hello Laurie,It is not only safe but it is an almost perfect time to take advantage of all time low interest rates as well as highly reduced house prices. yes there was some malpractice that occured but mainly by a small segment of the business. The overall problems resulted from the ratings agencies on...

Credit FICO score of 678, $185,000 home with 20% down, can I get a mortgage?
YES. 904-514-8884. Steve VerrierI would love to help you.

is it possible for a low credit score(560) to get a mtg with five years of on time rental receipts of 1k a month?
Hello, I am located in Palm Coast and can work with you on this. I have programs to work with your current credit score. However, as Bert and William mentioned, underwriting decisions are based upon more than the score alone (although the score does play a big part).My office is located next to Taco Bell on...

Is HARP the same thing as an FHA Streamline Refinance?
Hi Debbie,HARP loans are refinance programs for borrowers in conventional (Fannie/Freddie) loans that are typically greater than the current value of the house. They still require a borrowers income and asset documents as well as a 12 month payment history with no lates.Generally, an FHA...

If I pay my truck off will that boost my credit score more or effect my home loan approval?
Hi Tim,Removing the truck payment from your debt/income ratio will also increase the amount for which you are approved.Steve VerrierCommunity Mortgage Solutionswww.thefloridamortgagecenter.com

To refinance or not? Is there a better deal or this a good one?
Correct me if I'm wrong here fellow brokers...The HARP guidelines I have read say it is for 1st liens only and 2nds must subordinate. With that being said, how are they rolling in his line of credit? Are they doing that? It is unclear in "souls".. question. I think he should confirm that first...

Anyway to get a loan with a 570 credit score?
I have a program down to a 530 FICO. That alone doesn't mean the deal can be done. I would have to take a complete application to identify any item that may hurt your chances. To start with I need 12 month verified rent history, 3-6 months reserves (6 if there are gift funds), aggregate collections over...

Can i get a fha loan if my fico score is 588 and my husbands is 546?
Hello, I am a local, Palm Coast, FL based mortgage broker/LO. I have FHA products in Florida down to 530. However, a full review of your complete application must be made before I can say the loan will be approved/close.Steve Verrierwww.thefloridamortgagecenter.com

Is it at all possible to get a mortgage with a credit score of 550 or less
Yes it is but a full analysis of your situation will be required. I have FHA with 3.5% down payment to scores as low as 530 and have closed more than one. Just be aware that compensating factors usually need to be present to offset your lower scores(ie. reserves, job stability, low debt ratio to name a few). I am...

Underwater refi
Hello in Largo! My name is Steve Verrier and I am a mortgage broker in Palm Coast, FL. As Todd mentions below, you may qualify for HARP 2.0 (visit my website here: http://www.thefloridamortgagecenter.com/harp2_eligibility.htm) to check. You may also get relief if your loan is FHA, USDA or VA through a...

HARP 2.0: Requirements to remove name from mortgage?
Does your wife qualify (debt to income) on her own? I think this lender is being tight by wanting to see if she was paying it on her own. Any lender you work with should only be concerned with her ability to pay it moving forward. Not for the last 12 months. They should only be looking back to verify the payments...

FHA vs. VA loans
Hello Sergeant,In this case I would recommend going through VA as your payment will be lower. VA does not charge a monthly mortgage insurance premium where as FHA does at 1.25% of the loan amount/month, and this is on top of the upfront portion that is financed on your loan (similar to the VA funding fee). ...

refinance question
YES! You can verify your eligibility here:http://www.thefloridamortgagecenter.com/harp2_eligibility.htm

Identity of Interest
85% max LTV with this situation for FHA.www.thefloridamortgagecenter.com

reimbursed employee expenses
UN reimbursed expenses are deducted from income.

HOUSE EXCHANGE
Good morning, Based on the information you provided here the odds are in your favor. We would specifically need to know your income and monthly debt figures to determine how much you would qualify for. I can help. Www.thefloridamortgagecenter.com

getting a home loan before the three years after a chapt.7 bankrupcty discharge with home included?
Guidelines allow underwriter discretion if the circumstances surrounding the bankruptcy can be documented as death/illness related and outside of your control. Finding that underwriter may take effort though. 90% will hold you to the 3 year seasoning requirement.