Refi after being unemployed....
ElquienIt all depends on the Loan type that you are qualifying for banks are not confident about economy. You will find FHA more lenient* FHA Banks are no longer following HUD in the case of and FHA Loan. If a job gap of > 30-days you must be on job for >= 6-months to qualify. The old HUD Rule was if you...

How soon can you use a VA loan to purchase a home after a shortsale on an FHA loan?
Hi Sarah, If you had a short sale you would have to wait 2-years from the date it was transferred to the new owner. HOWEVER, there is no waiting period IF you had NO lates on ANY mortgages and consumer debts within the 12-months leading up to the short sale.Sincerely,Henry J Daniels - Sr. Mortgage Banker...

How much will I be able to lend?
With your FICO the best option would be FHA with 3.5% down. However Conventional with 5% down May be an option. Your options are based on the limited info you providedFHA - Max Price ~ $280k = Down Payment of $9,800 + Taxes, Insurance & Closing not covered by sellerConv - Mas Price ~ 270k = Down Payment of...

Is it possible to switch from a conventional loan to a FHA?
Hello, With a Conventional loan you can do a Streamline refinance. No appraisal is required and it is done using the appraised value when you originally financed the property.Sincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach"Educating you to make the right...

Quitclaim the best way?
Julie, If your Mom is not expecting any money from the sale of the home you can simply buy it from her. Transferring the Deed and refinancing can get quite messy as noted here. A purchase would simply be much more straight forward and depending on your area you could finance all of the closing costs just...

Our Question is VA loans and termite inspection/treatment!
Than you for your Service Major. On the Termite Inspection is a VA requirement like the VA non-allowable Fees. I would work with a Termite company that will accept payment at closing. That way the Seller can pay this fee at closing. Sincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified...

Since, you have credit scores from the three major credit reporting agencies, which score does the mortgage lender use to determine your interest rate?
The middle Score is used or the Middle Number. Say you have scores of 640, 620 & 710. The banks use the score of 640 to determine your interest rate, Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach Direct/Text: (936) 228-1944 Blog: WoodlandsMortgageBank.comNMLS #209419

Bond Money Loans
Jenna, There are numerous Bond money "Grant" or down payment assistance programs. These programs are not loans in the sense the government loans you the money. You must qualify for a FHA or Conventional loan to get the money. There are several programs Covering the State of Texas that...

Looking to purchase home in Fort Worth with 20% down
There are several discounts available when you make a larger down payment. 20% is the first level. 25% down is the next point where you get a discount. General rule of thumb is that for every $ you spend on points you will save twice as much in your payment as a $ towards your down payment. Paying points makes...

Where can I get a VA loan for the Fort Worth area?
Hello, We are based in the mid-cities and we'd be delighted to assist you. I can be reached at Sincerely, Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach - "Educating you to make the right financial choices for your family today and tomorrow" Direct/Text:...

What rates are available to me for a home refinance?
That's a great question. With a 85% loan you would still have to pay mortgage insurance. Depending on where you are at in Corpus Christi you may have had enough appreciation to where your loan would only be 80% of the appraised value. In that case if your final loan is less than or equal to the 80% you...

Middle fico score of 719, what rate can I get for a refinance?
That's a great question. With a 70% loan you would Not have to pay mortgage insurance. I'd be delighted to assist you and see if a refinance is in your best interest. There are many factors that determine your final rate including when to lock and for how ling. Sincerely, Henry J Daniels - Sr....

Trying to refi w/Harp 2.0 to a 15yr/fixed. I have no lates, no non pays, 800FICO and sky high LTV..Help
HARP loans Carry a Higher Interest rate. The only way to get a rate in the upper 3% range would be to do a regular fully underwritten underwrite.

former Marine with low credit score but 25,000 down payment
Hi John, First of all Thank you for your service. Regarding your questions: When underwriting a home loan lenders underwrite on the person with the lowest middle FICO score. In your case your best option would be a VA loan. The most lenders doing VA loans will allow you to do a VA Home loan down to a 620 FICO. In...

Streamlined Refinance
Hello, If you have a VA, FHA, USDA, Conventional (fannie or Freddie) you should have a streamline option available to you. If not you will have to work with your current lender to see if they have a streamline program. Sincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach...

are there any lenders refinancing investment properties with 80%LTV in Texas
Hi Bryan, Yes we refinance investment properties at 80% LTV. However if it is a Cash out lenders only go up to 75% LTV in most Cases. Sincerely,Henry J Daniels - Sr. Mortgage Banker & CMPSI Certified Mortgage Coach "Educating you to make the right financial choices for your family today and...

Can you refinance a interest only construction loan prior to converting to conventional?
Refinancing a Temporary/Construction loan would require a lender willing to take on the process. As is noted to convert to a Permanent Loan you would need the Certificate of Occupancy and if the home is not complete this would be a challenge. I'd be happy to discuss the specifics of your situation...

House Is worth $70,000 payoff $23,000.
Hello, It sounds like this is your personal residence. This is exactly the kind of a loan that a small local/community bank or credit union would be able to do for you. Generally the Big banks won't do these. Also if you are a Veteran it may be possible to get a Texas Veteran Renovation loan by...

i recently paid 60k cash for a brick garage apartment and land(with no mother house)
Hello, If this is your personal residence. This is exactly the kind of a loan that a small local/community bank or credit union would be able to do for you. Generally the Big banks won't do these. Also if you are a Veteran it may be possible to get a Texas Veteran Renovation loan by Contacting the Texas...

How do lenders pick which credit score to go with when 2 people are applying?
Hi Lily, There are a couple of items to consider. First of all when there are co-borrowers on a loan the person with the lowest middle credit score will be used for determine the rate. The second thing that you mentioned was that you and your husband have some accounts that are totally separate. Texas is a...