what is ltv
LTV is the Loan-To-Value ratio, which simply is the ratio of the loan amount divided by the value of the property. For example, if you wanted to finance $80,000 on a property that was being sold at an appraised value of $100,000, your LTV would be 80%.Additionally, if the sales price and the appraised...

can we still get an fha with 3.5% down or has is gone to 5%?
3.5% down is still available, but with an FHA loan, mortgage insurance will be for the life of the loan. Also, depending on how much you are looking to spend, limits are going to be lowered for FHA loans. If we get a case number before the first of the year, the limit is $400,000. After the New Year, that limit...

do i need to get pre approved and prequalified before i apply for a loan?
As everyone has already said, there are a lot of other bits of information that goes into giving an interest rate quote. Though a pre-approval is not required, it is the best route to take. As the others noted, it gives you a starting point for your search with your Realtor, as well as provides...

Possible to a traditional loan with 10% down and 715 range credit?
Based on the information provided, absolutely! Feel free to contact me through my profile, we can get an application completed and take a look at exactly what you qualify for and determine what will meet your needs best. Jeff ShumwayMortgages for America

What are some non fannie mae mortgage refinance options for people who are upside down?
James, we may be able to assist with some different options, depending on your current mortgage. Feel free to contact me and we can discuss these options. Jeff@MortgagesforAmerica.org

What are the costs associated to convert an FHA loan to a conventional loan?
Hi Sam. As was said below, costs can vary depending on your lender. At Mortgages for America, all of our loans have $0 Lender Fees. Feel free to contact me through my profile and we can discuss your specific situation and see if I can help save you some money!

how can i transfer fannie loan to my daughter and her husband?
You would need to check with whoever is servicing your loan to see if it is assumable. As long as they can qualify for the existing loan and it is assumable, then all should be fine. If it is not assumable, you can easily just sell the home to them provided they can qualify for a loan to purchase. We have a lot of...

I'm selfemployed please tell me what I can do for a mortgage
We have a lot of different options, depending on your specific situation. Feel free to contact me via my profile information and we can find what fits your situation best.

If I'm buying a condo that is not going to be my place of living what loan do I use?
Conventional is likely your best bet, but another option would be to do a cash out refinance on your current home and use the cash to purchase the rental.

are 203k loans available for manufactured homes?
Yes, 203k loans can be made for manufactured homes, with some stipulations. Contact me any time if you would like to discuss the options.