What is hazard insurance?
Also known as homeowners insurance it insures the replacement cost of the home in case of damage.It is needed when you obtain a mortgage for protection of the asset the loan is secured by. It may or may not be included in your mortgage as an "impound" and this depends on your scenario. Although...

how soon after short sale can I purchase a new home?
So long as you kept your payments current through the short-sale process, you can obtain an FHA loan immediately after the sale. There are a few items that need to be met such as; - Credit Score (typically 640 Minimum with some exceptions allowed) - No Late payments through short sale (on anything...

What should I do before making an offer - Pre-qualify or Pre-approve? What is the difference anyway?
A pre-qualification is definitely where you want to start. Get to know your payment and what variables you want to look out for when you are out shopping such as homeowners insurance, taxes and especially HOA dues. Don't forget to ask your chosen lender if there are any First Time Home Buyer...

fha loan
There are few instances where you can obtain an FHA loan; - Job Relocation (needs to be significantly far from your current home) - Divorce/Separation where spouse was awarded the current home. - Current Home is not an FHA mortgaged loan. Please do email me more details as there could be a way somewhere...

Can you get an ARM loan for a refinance?
Absolutely. Adjustable rate mortgages are available on conventional and FHA refinances.An FHA ARM not only offers a low rates but also caps the adjustment to a 1% max in either direction. So for example a beginning rate of 3.25% on its' 7th year will max out at 5.25% (worst case).If you would like more...

What do I need to qualify for the new HARP program?
All the program details can be found at www.harp-az.comRegardless of the value versus the balance of the mortgage the refinance is still obtainable. From the information you provided, I can say that you will qualify for the program once it is fully available.Most lenders will not have this program live...

FICO credit score of 742, what are my options on refinancing a home?
There are many options and fortunately they all have great benefit to your scenario. I would be more than able to detail all options and help you choose what best suits your needs to maximize your savings. I can be reached at (480) 559-9590 or via e-mail at info@wjbonline.com I look forward to assisting...

My middle FICO is 681, does this credit score disable me from getting a new home?
There are a few programs, which from your details, you should qualify for. With down payments as low as 3.5% down, you should be able to buy the home without problem even with your change of employment. Feel Free to email me or call me with any questions. Fernando Albarran 480-559-9590 fernando@wjbonline...

What is the best first time home buyer mortgage in Arizona?
From the information you are providing, you should have no problem qualifying for a mortgage. It will all come down to which program works best for you with down payment, rates and monthly payments. If you would like to look at your options, please email me at fernando@wjbonline.com or call me at...

Is credit score of 719 as good as 720?
It depends on the program. What we do is work with our clients to help them get their scores up that extra point to render the best results.

When does the ew obama refi plan kick in ?
Different companies are handling the applications differently. Although most are waiting until mid-March, we are currently taking applications and getting them fully ready to meet the requirements and start closing them mid-March. For info on the program you can go to www.HARP-AZ.com or contact me...

Refinancing on a 30yr loan without Harp?
I would definitely advise looking at FHA as an option as rates are closer to 3.25% and even with mortgage insurance premiums, it will render a lower payment for you.If you could clarify, the loan was insured before the 2009 date of HARP or your refinanced after that date?602-820-0881 or chat available...

Looking For A Lender For Harp 2.0 Refinance
We are banking them without LTV restrictions but do not broker unfortunately.

After a divorce, is it better to refinance or perform a mortgage assumption?
An assumption would have to be taken up with your current lender to see if they would allow and if so, what the fee would be.With rates as low as they are, I would recommend looking at a refinance. Even if the home has little to no equity or even negative equity, you should be below 4%. We currently offer...

Harp 2 Refi....
Unfortunately the new GFE form is not the clearest form to determine fees. With us however, our fees are constant regardless of loan amount, type of loan, FICO, etc. We have a 1% Origination fee, a $550 processing fee and a $995 underwriting fee. These all get lumped together and are called...

Is refinancing an upside FHA mortgage a good idea?
Pros are lower rate, no fees, simple process and savings for the life of the loan. Cons are you will have to sign some paperwork. Pretty straight forward I think.

HARP 2 refinance
I personally have had 6 clients in December with the same frustrating issue. Our guidelines for funding on the HARP 2 program do not have issues with the Lender Paid Mortgage Insurance. The end result will be even more savings for you. If you would like to discuss the details, I can be reached at...

10% Down Jumbo in Scottsdale, AZ
I have a 10% down jumbo loan that goes to $750,000. Feel free to contact me to qualify at 602-820-0881 or via email fernando@wjbonline.com

Re HARP Programs
The fact that you did a modification should have no bearing on your eligibility for the HARP 2 program. The only item that would hinder your ability to close on the HARP 2 program would be if your modification included deferment of principal. From your question, it seems this is not the case as only your...

Are the HARP refi rates typically higher than normal rates?
A conventional loan takes certain factors into consideration for determining the interest rate. Loan to Value (LTV), how much equity percentage, is a big one. Consider it a sliding scale and with the more equity you have, the better the rate. Now the HARP program allows that scale to go into the negative...