I'm not sure what our FICO score is, but can you do manual underwriting to prove that my wife and I are responsible and pay our debts well?
Desktop Underwriter(R) (DU(R))Representative minimum credit scores for manual underwriting (or use enhanced credit evaluation):660 score Benchmark qualifying ratio follows Fannie Mae standard Selling Guide (Section B3-6-02) for manual underwriting; additional flexibilities...

What do I need to do to apply for an FHA home purchase loan?
What area of the state are you interested in buying in?

Can The FHA Help Us?
Yes you can as long as the co-borrower does not have a FHA insured loan and you and the co-borrower meet credit and income guidelines for FHA. Typically they will want a 620 credit score and a debt to income ratio of 29/41. Check out my blog at kentuckyloan.blogspot.com for a more complete answer to your...

How soon after a bankruptcy is discharge would you be able to apply for a Home equity Loan?
For an FHA, VA, USDA loan they all require 2 years since your discharge date on your bankruptcy. You must have a 620 credit score and good reestablished credit since the bankruptcy.

What kind of Loan Will Require The Lowest Down Payment?
In Kentucky I offer the state housing agency backed (KHC) Zero Down payment program for first-time home buyers. Yiou cannot have owned a home the last 3 years and you must not make more than a certain income to qualify for this program...Credit scores are minimum 620 and debt ratios cannot be more than...

I was thinking of refinancing but our business is way down by about 75%. Will that be a problem to refinance?
If you have declining income on your tax returns for the last 2 years along with a year to date profit and loss showing declining income, this may be problem to get qualified for a conventional or FHA mortgage. I recently got a loan turned-down because of this issue for a Fannie Mae Conventional Mortgage...

If I don't pay the late fee but make the mortgage payment before it's 30 days past due, is this ok?
The late fee will roll into the next month. You will not have a 30 day late on your credit report.

What are the current income requirements and credit score requirements for getting a VA Loan? (I already have Cert of Eligibility)
The current credit score is 620 for VA loans with most investors

can you get a refund on a home appraisal if the lender misrepresented a loan?
Look up your state's Dept of Financial Institutions that governs the mortgage company in question and report them to that entity that governs them...I bet you will get your money back..

What are typical Closing costs charges on a 80 thousand refinance ?
I would say on average between on the low-end $1400, and on the high-end $2800.00--This is state specific because some states have higher fees and taxes.I am quoting Kentucky closing costs examples only.

Refinance Before OR After Marriage
Refinance now.

If I want a quote from the lenders this matched me with, do I need to ask for a Godd Faith Estimate of each so compare?
Ask for a truth in lending statement...It will have your apr on it..That is a a true way to shop the rate and closing costs

Is It True?
$0 year loans give you a lower payment but you pay back more in interest over loan term and usually pay a higher rate

Raise a credit score 10 points?
Pay down your credit card limits to less than 25% of the outstanding credit limit

Home Purchase
You can take out another loan on the free and clear property up to 80% ltv

I have an 808 credit score and am able to put 20% down on a home price up to 175,000. Is a FHA loan the best way to go?
No sir. Go Conventional with a Fannie Mae or Freddie Mac backed loan. If you go FHA you will have to mortgage insurance even though you are putting 20 percent down

I'm looking at buying land and a new manufactured home that would be placed on a permanet foundation. How do I go about obtaining financing for the whole project? I have exccelent credit some where in the 800's would be able to put 20% down. Would I be able to get the best interest rates availble even though it would be a manufactured home? South Dakota area.
Try a local bank...

85 % LTV Cash out Refi? Are they available
If you cannot prove his employment or income you are going to be out of luck.

is a refi a good option now or wait?
I would wait til the first of the year. There has been a run-up in rates the last two weeks due to the tax credit deal in Congress being supported and this has caused the investors to pull their money out of treasury bonds and put it into the stock market.This has caused a negative for long-term mortgage...

what is computed for LTV?
Your ltv is the relation of your mortgage balance to the home's value or purchase price on a purchase money loanThe maximum ltv on a FHA loan purchase loan is 96.5%The maxiimum ltv on a Refinace FHA loan with cashout is 85% ltvThe maxium ltv on a FHA refinance is 97.75%