Appraisal waiver only for HARP loans?
Hi Joe,I'm a Direct Lender who is licensed in CA, AZ, CO, OR, & NJ and most of the responses below are correct. If you would like me to take a look at your situation, then we would run DU for an approve/eligible and we'll try to get the appraisal waiver for you. This will not cost you any money up...

Test Received.

Refinance without HARP
Hello, approximately how much do you owe on your current loan?

What is truth lenders & disclosures?
Hello, by signing the original disclosures which will have documents such as; Good Faith Estimate, Truth in Lending, etc... Usually, the only way you will be committing to the loan is by paying for an appraisal but you are able to cancel a loan all the way until the "right of rescission" period...

What is good rate for refinance HARP 2.0 California?
Hello, First I would have to question the "Lender Paid Mortgage Insurance" as you only qualify for HARP if you had put down 20% when the loan was taken out...If you stated this incorrectly, then we could get you a better rate and fee's depending on Credit Score & Loan Amount.Please...

Hard money lender vs. subprime lender?
Hello, the major difference is in the qualification process. Sub-prime borrower means you are still trying to qualify for a conventional loan but you have less than perfect credit. Now-a-days, really the only sub-prime loans would be considered FHA because those loans are easier to qualify for....

FHA or Homepath?
Hello, it depends on how much money you are able to put down...If you want to put the least amount of money down, then Homepath might be the best option for you but it will limit you on the property that you can purchase. Please feel free to contact me with further questions at jolson@afnmortgagelenders.com...

HARP 2.0 and LTV less than 80%?
Hello, Yes you can do a Harp 2.0 with less than 80% LTV. My question is why? Really, there is no reason why you would want to unless your DTI is higher than the normal guidelines allow. Once a borrower uses the Harp program, then you can never use it again..Please feel free to contact me at...

Please help me with Good Faith Estimate, especially block A
Hello, the reason why you see a charge & and a lender credit is because by law lenders have to list every fee even though you might receive a lender credit to offset those fee's. Rates are at all-time low's and if you are planning on staying in the home for a long period of time, then you may...

What are usual origination charges on HARP refinance?
Hello, rates are at all-time low's and if you are planning on staying in the home for a long period of time, then you may want to spend 3-5 minutes to see what we can qualify you for. We are ranked #4 lender in CA, we usually have the lowest rates in the nation, and we will provide exceptional service....

Does LTV and loan balance change the rate you are offered to refinance HARP 2.0?
Hello, 3.875% is too high even with a high LTV of 105%+, please contact me as we are a direct lender in CA and we run your situation through DU in order to get an appraisal waiver. There is no obligation and to find out what we can do is FREE for you. Please feel free to contact us at jolson@afnmortgagelenders...

Does closing time affect how many clients you get?
Hello, Yes. The faster the closing time, the faster revenue would be generated and may help to find new business. For a large bank, it won't affect them as much as say a one man mortgage broker. If the loan is taking longer than 25 days, then please contact me at jolson@afnmortgagelenders.com or 949...

cash out refi
Hello, The max cash out that is allowed for an FHA or convention loan is 85% of the appraisal value. The FHA streamline is meant for just rate/term refinance and MOST lenders will allow waiving the appraisal and income documentation which makes it very easy to qualify thus calling the loan a...

203k for pool
Hello, Unfortunately you can not use it to install a new pool. Please let me know if you have any other questions at jolson@afnmortgagelenders.com or 949.491.8607, thank you.

Broker to Broker Question - Disclose compensation as points?
Hello, Lenders/Brokers should be playing by the same rules, so it's not a matter of trying to get around disclosing the fee's...but it's about how you explain the fee's. For example: In box A on Page 2 of the GFE you may put a charge of 1% which will equal $2,000 on a $200,000 loan, but...

Broker for underwater refi
Hello, I am not a Broker but I am an honest Licensed Mortgage Banker for a Direct Lender. If your loan qualifies for the fannie mae assistance, then yes you will be able to drop your interest rate by 2% +. Unfortunately, I am not licensed in the state of Florida but I do know Bankers who are so If you would to...

NJ Wholesale HARP Lenders
Hello, We are currently helping homeowners with HARP loans in the state of NJ. Please feel free to contact us at 949.491.8607 or jolson@afnmortgagelenders.com . Thank you.

How can I refinance an underwater investment property?
Hello, you can refinance your investment property if the loan is owned by Fannie Mae or Freddy Mac, the loan was taken out prior to June of 2009, and if you originally had 20% equity at the time. Please feel free to contact me and I could look up your property on their website to see if your loan is owned by one...

If i want to change my 30-year FHA FRM to 15-year, should I do a streamline FHA refinance or standard?
Hi RKreiger,Depends on the overall situation such as income and/or the amount of equity in the property. Please call me at 949.491.8607 or email me at jolson@afnmortgagelenders.com to see what might be the best option for you. We are a direct lender mortgage lender that has some of the lowest pricing in...

Whats the highest acceptable DTI for an FHA loan?
Typically, the cutoff ratio's have been 47% top and 54% bottom but there are other factors involved as mentioned by other Loan Officers such as overlays, desktop underwriting by receiving "approve/eligible" which have been seen higher than 47/54. One reason you may get approved...