Rates are going up...should I buy now?
Whatever you decide to do, just make sure that it makes sense and you can afford it. It's a great time to buy, but don't put yourself in a bind based on just that.

will refinancing my mortgage let me get rid of the insurance that i am paying now?
If your home value has gone up and you have at least 20% equity in your home, you may qualify for a Conventional Loan with no mortgage insurance. Your current lender will drop your mortgage insurance after a minimum of 5 years AND when you have paid down your principal balance to 78% based on your original...

Will alimony and child support hurt my chances of approval for a home loan?
If you have outstanding alimony or child support, it may hinder your ability to qualify. If you are current and still making payments, underwriters will count those monthly payments in you Debt-to-Income Ratios. Feel free to call me for more information. I am located in Costa Mesa, CA. Jimmy Vu -...

My house is worth about $275,000. I want to add a master suite and remodel my kitchen
You may be able to cash out a partial amount if you depending on what loan program is available to you and how much your appraisal value is. VA loans can cash out to 90% Loan to Value if you are eligible. FHA loans go up to 85% Loan to Value. If you would like for me to look up comparable home values in your area and...

Will government ever approve a non-fannie mae refinance program?
Keep your head up for now! We are all waiting for HARP 3.0 to be implemented. So continue to stay on top of your finances and keep your credit rating high to ensure you get approved when the program comes out. There have been a few delays on the release of the program, so we continue to monitor the market and...

Mortgage with Poor Credit but significant down payment
There may be private lenders who can help you get financing, but will come with a higher interest rate and less favorable terms. Make sure you are aware of the terms of the loan if using a "hard money" lender.

can we refi in my husbands name?
Yes. There are a few different programs he may qualify for. Please feel free to contact me if you have any questions. Jimmy Vu - American Financial 949.287.4134 - jvu@afncorp.com

How do federal student loans in deferment affect getting approved for a fha loan?
It can have an effect depending on the loan program being qualified for. I can help you look into different options. Feel free to call or email me. Jimmy Vu - American Financial Network - 949.287.4134 - jvu@afncorp.com

If i want to sell my home and buy another, what appraisals/ home inspection will i be responsible for?
You would need an appraisal for both properties. Depending on the situation, using the same Realtor can have it's advantages. But other realtors may have access to different listings. I can help you qualify your buyer to ensure your sales contract deadline is met. I can also help you get qualified for...

Private lender or bank for a jumbo loan?
Banks have more favorable rates, but may charge for origination. Private lender's should be a last resort because they have less favorable terms and interest rates. American Financial Network is a Direct Lender, so we don't charge origination points or broker fees. Feel free to contact me. I'd be more...

Please tell me more about the "good neighbor next door" discount program by HUD
It is a real program! And it sure has it's benefits especially when you get a discounted price! "HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement."...

can we still get an fha with 3.5% down or has is gone to 5%?
You can still get an FHA Loan with 3.5% down payment. Mortgage Insurance can be removed through a refinance into a Conventional Loan. Otherwise, it will be on your loan for 11 years or the life of the loan. Call me for more details. Jimmy Vu - American Financial Network - 949.287.4134 - jvu@afncorp.com

Should we encourage our Loan Officers to Take the Stand-Alone UST
Yes!

I'm currently scheduled to close on my home, Feb 11 and got word that I may be laid off Feb 9th, what can I do?
Get the loan funded before the 9th if you can! If you can be verified as a season worker, you might be okay.

Credit score around 800 and 30% equity. Can i refinance for a second time on my mortgage?
Yes. You can refinance as many times as necessary, but make sure there is benefit in the refinance. Feel free to reach out to me for more information. Jimmy Vu - American Financial Network - 949.287.4134 - jvu@afncorp.com

Will home values increase these next couple years?
The value of your home will constantly change throughout the next few years. Consistently monitoring the market values and changes in the industry will help you make an educated decision on when it is best to sell you home. If you would like for me to give you updates on the most recent sales in your...

do i need to get pre approved and prequalified before i apply for a loan?
You will need to get preapproved so your realtor can find homes that suit your qualifications. Once you find your home, additional documents may be requested for a Final Approval. Feel free to contact me if you have any questions or would like for me to prequalify your loan. Jimmy Vu - American Financial...

How quickly could i purchase a second home for investment and sell it?
Depending on what type of financing you are qualified for, there are different seasoning requirements. Feel free to contact me for more information. Jimmy Vu - American Financial Network - 949.287.4134 - jvu@afncorp.com

how to make a payment online
If you have online banking bill pay, you can enter your account number from mortgage statement if that helps.

Does everyone think the rates will go sideways from here until end of year?
I would definitely lock in as soon as possible considering the current trend shows an increase in interest rates. The new rules being implemented in January will most likely have an impact on market as well, so interest rates may continue to rise.