question about fannie refi?
There are many variables like loan amount and exactly what is included in that total cost. The best thing I can do is review it for you and give you an explanation of what each cost is and let you know if it is a reasonable fee structure. Feel free to reach out to me today if you would like me to take a look at it. ...

Land Loan---is it possible?
What state is the Lot located in?

Georgia FHA Loans below 620
As the others have mentioned their are a few lenders in the game to do FHA mortgages with sub 620 scores but the process will likely be difficult and you will have a diminished oppurtunity for seeking out the best deal. Your wife can certainly come onto the loan application but the scores that will effect...

Funding options for move up house?
I see it like this you have two options here. 1. you obtain a heloc (usually no cost involved) which should yield you about 245,000 based on your value and 70%LTV. you will need to obviously supplement the 245,000 with another 135,000 of your own cash to make the full price. This structure will allow you to...

Buying a home after a foreclosure with 30% down
At this piont renting would be best options unless you were willing to go for a hard money type loan. Perhaps renting a home with the option to buy woud be better then taking a high interest rate loan and risk another possible default due to unfavorable loan terms.

2nd home, do we qualify for mortgage?
Your scenarios sounds resonable and very well may be just fine to qualify for a mortgage based on today's lending guidelines. At this point you definitely want to find a reputible mortgage profesional to get you prequalified for this purchase by conducting a formal review of your...

Quick question: Is 3.65% a good rate for a 5/1 ARM loan which is interest only? Loan amount is about $600K
you can never discuss rate without fees and fee without rate to know if a deal is a good one. You will know if this is a good deal if the APR is close to the rate. If the APR is more then .125% higher then the rate you are probably paying a point.

My wife lost her job 3wks before our closing date on our first home. Is there any to salvage the loan?
Finding a job in a similar position would be the easiest thing. I would not worry about any gaps in employment less then 3 months. I would expect that at least one pay stub from the new job would be required prior to closing.

Can someone get a reverse mortgage if they already have a mortgage on their house?
yes, you can certainly still qualify for a reverse mortgage based on your loan to value ratio of 54%. You should contact a loan profesional to go over the rest of the parameters. Good Luck

How Many Mortgages Can I Carry?
If you are purchasing investment properties most lenders will cut you off at 4 mortgaged homes. However, regardless of how many mortgaged homes you have you can still refinance you primary residence.

Credit Score: 765, Debt-to-Income: 35% --> worth lowering by 3%?
no benefit in lowering.

Credit Score: 765, Debt-to-Income: 35% --> worth lowering by 3%?
ok. so your score of 765 is excellent so no worries about that. next your debt to income ratio of 35% is an exceptable income ratio for any type of mortgage, so no reason to pay off debts as lowering your income ratio will not get you better terms on the new mortgage. Lastly, your credit scores are fine to put...

Advantage of a early/mid/late month close?
I would not worry about which part of the month my loan closes. It will all be the same in the end. If you close in the begining of the month you have more days worth of pre-paid interest added to closing figures however your first payment due will be further out. on the other side if you close late in the month...

Is 620 the bare minimum of what is considered decent credit?
640 is now considered to minimum for nearly all lenders now. You will definitely want to work on increasing your credit scores.

Is refinance a must to convert my primary residence into an investment property?
No, you do not need to refinance it. It is ok to change occupancy from owner occupied to Non-owner as peoples lives change. However, when you take a new mortgage as an owner occupied loan you are testifying that you will occupy the home, not forever but at least initially.

home missing all appliances, what does FHA require in order to close?
I just closed a loan in the exact same condition. The prior owner took all the appliances with them. FHA requires there be a working installed stove/oven. If there is a spot in the cabinets for a dishwasher you must install a dishwasher as well. if there is not open spot then you do not need a dishwasher. You do...

Can I get a mortgage if I have a high income but a low credit score?
when considering conventional mortgage financing the answer is NO income would not overpower credit scores beneath the qualifying marks. Fannie mae and Freddie mac who set the guidelines for the vast majority of loans do not leave much discretion to the originators. When dealing with local banks...

We filed a chapter 13 bankruptcy which we completed. Discharge date was 5/9/12. When can we start applying for a mortgage.
According to our lending guidelines which are based solely on Fannie mae guidelines you would need to wait 2 years from the successful discharge date of a chapter 13 bankruptcy. IF you had any late payments on your pay plan or were dissmissed instead of discharged you would have to wait 4 years.

Lender that will underwrite a loan w/credit score of 626?
I think contacting a small local bank may be your best bet. As you mentioned fannie Mae does allow for 620 credit scores and some lenders do still follow Fannie guidelines as we do here at Beneficial Bank. Many lenders do put there own restrictions on top of Faniie's guidelines which is why they...

Can I get a home loan with deferred student loan debt?
sure can. First step would be to get pre-approved. Give me a call when you have a few minutes to discuss. 732-284-6119