What is considered a mortgage late? How bad will it hurt my credit?
A mortgage late is any payment that is not paid in the same month that it is due. This also has to be a FULL payment. If you fail to pay a late fee in the month it is due, this could be considered a mortgage late.In today's tough credit market, lenders typically require 12-24 months of good payment history...

How much of my down payment can be a gift?
20% down payment from a gift of a relative is acceptable for conventional financing. I can assist you with the purchase loan.I look forward to hearing from you soon.Best regards,Gary N. Smith, CMCwww.garynsmith.ushttp://www.facebook...

good credit but spotty work history???
Do you have VA eligibility? That would be the best loan program.If you have had your contract employment for two years (on 2009 and 2010 federal 1040's) then i woiuld be allowed to average the bottom line income from your schedule C (line 31) to determine a monthly income. Of course I cannot use...

What is the maximum amount you can obtain via a reverse mortgage? Property value is not an issue--what is the Maximum?
The National Loan Limit for Reverse Mortgages is approximately $625,000.