are usda loans available for second properties?
Yes it is true - USDA is only available for primary residence. If you would like to look at your possibilities, please let me know. Esta Hoffman Mountain west Financial esta.hoffman@mwfinc.com

Can we refinance real property with two manufactured homes on it?
Please call me later today. I will do some research into this for you. My company does do manufactured homes. Esta Hoffman 707 328 2864. Mountain West Financial. Esta.hoffman@mwfinc.com

When cam MI be removed?
That is a broad question with a number of answers. If your loan is conventional financing, you need to wait typically a minimum of 2 years and your loan to value must be 78% or less. Then you can petition your current lender to remove it, which usually means a new appraisal. if your loan is FHA, it depends on...

when can you stop paying mortgage ins
This will depend on your particular loan. If it is FHA - it will depend upon when you took out this loan. Newer loans have mortgage insurance for the life of the loan - the older ones have it for 5 years - if it is conventional financing, lenders typically want you to wait at least 2 years - then you must...

How can we determine a home value without comparables? Is that possible and accepted by banks?
The way values are determined is with comparable sales - you home is compared to similar homes with similar appeal, etc. The comps are adjusted up or down based upon differences. Even if you wanted to determine what your home might be worth - you would have to use comparable sales. That being said - this is...

Explanation letter for cash depostied in my account.
It is very important that these funds be verified, unless they have been in your account for more than 2 months. You will need to state in your explanation that it was a gift from family members - but you will also have to papertrail that money as well, showing where it came from. They are also likely to ask...

what's the typical credit score needed for a conventional loan?
695 is not ideal, however it is plenty high to obtain a mortgage, but FHA and Conventional - we allow as low as 620. What you will see is that the pricing for your interest rate will be affected - this is the case across the board - the lower the credit score, the higher the rate - there are other factors...

Can a lender lock in your mortahe rate without your knowledge?
Absolutely they can, but they shouldn't! My borrowers always know the rates, the trends, their options and though I will recommend when they should lock, it is never done without their permission. if you need a new lender, look no further!

Does it make suense for me to pay down my mortgage? I owe about $325,000 @ 4.67% with 25 years left.
it is hard to say with such little information. It would depend on several factors. The way to get your answer would be to talk to a mortgage professional or a financial planner - I would be happy to speak with you

What is the typical interest rate on mortgae for 650 credit score at the current time?
You are asking a general question which requires specific information before replying. it will depend on whether you are purchasing, refinancing, taking cash out, asking for FHA or conventional, etc. I would love to assist you with this. My phone number is 707 328-2864 or my email is esta...

can I get a va loan with 5 overdrafts in two months with a 648 credit score
Each and every loan is reviewed based upon the individual - credit history is part of that review. an overdraft payment is considered a late payment, but that does not exclude you from a loan. We, like all lenders will review this in conjunction with other factors in your application - and ask for an...

I paid for the whole property with a home equity loan so I sure don't want to loose all that money. I guess I am stuck. Thanks
I see only a partial question here - I am a California lender - but I don't know what your question actually is.

When do the new FHA premiums go into effect?
TODAY! It is true - in many cases, a streamline FHA, if it is a refinance you are looking for require no additional re-qualification, no appraisal. If it is a purchase, this will increase your buying power, or simply lower the payment on the purchase price you have chosen. I would love to assist you! you...

what interest rate can I get with a VA Loan
Hi - it would be a bit irresponsible to quote you a rate as rates change daily and there are certain factors that affect a rate, such as credit score and if you need lender assistance to help pay for closing costs Suffice to say, you can expect VA rate to be in the high 3's.

my MI is 37 if refinance will be 57 with 20,000 less on balance owed
I will also add my 2 cents worth here - agreed that it is not a scam, just in line with changes within FHA. One thing that you should look into is how long have you had your FHA loan - if it has been several years, your MI might drop off after 5 years, as this is how FHA used to be. I would look at that first - because if...

How can i get the best rates on a 30 year jumbo loan?
I guess my question is if you are looking for $250,000, why are you looking for jumbo? that is conforming. That being said, there is also conforming high balance. That limit is determined by County. And finally, jumbo pricing varies from investor to investor depending on LTV and credit score, primarily. ...

Refinance in Washington state
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Are there any banks offering Individual Development Accounts?
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What is the FICO credit required for a mortgage with 30% down?
Please remember that lenders pull 3 credit scores and use the middle. for convention, we go as low as 620. For FHA, it is 600. Even though you are putting down 30%, if your credit is marginal, you may only have FHA available to you. Please call me (707) 328-2864 or email me esta.hoffman@mwfinc.com and we can...

Is my retirement savings counted as reserves for mortgage purposes?
Talia, I don't have a different answer - just to let you know I am local to you. My office is in Rohnert Park. Would you like to meet and get you preapproved for a home purchase? ehoffman@cmgfi.com 707-328-2864