Can i refinance my first mortgage and not my second?
Yes, as long as your 2nd mortgage lender will allow it. It is called a subordination agreement. The lender you refinance with will require this and request it from your 2nd mortgage lender. They will charge a fee and want to review the appraisal and the terms of your new 1st mortgage to consider the...

Are there any programs available for First Time Home Buyers that are government workers?
I know of no special "government worker" programs, However, there are some great First Time Home Buyer programs available -- if you qualify. Your best bet would be to provide your qualifying info to a lender that has access/experience with these special programs (most do not). Most loan...

how long after foreclosure can i get a loan
The real answer is yes, once it's been 3 years minimum from foreclosure completion. Must also qualify based upon credit/assets/income -- the normal stuff. It's not too soon to find out exactly where you stand -- to take the right steps as soon as you can. The worst thing you could do is put trust...

Possible divorce situation
Your situation is complicated but not uncommon or impossible. However, too complicated to advise without a thorough offline discussion. Not sure if this forum allows email or telephone publication. Feel free to call tomorrow if so...219-865-0505 x305

Can I qualify for USDSA/FHA financing with fico scores of 623, 580, and 596?
I agree with my friendly local competitor Scott. You need expert/laser specific advice based upon your unique financial situation. The problem seems to be that you've bounced around seeking good advice and have not received it yet. Talk to Scott, or call or visit me in Dyer. Your situation is not...

Getting quotes through lender 411
Most loan officers will attempt to run your credit report. However, if you know your actual FICO credit scores it shouldn't be necessary just to "quote" terms. You will have to provide some basic info to get true pricing/closing costs...Once you decide upon the loan officer who provided...

VA approved lenders
Not sure if A&M Mortgage Group or our parent corporation are BBB dues paid subscribers or not. It's funny though because many years ago I worked for the local BBB -- so I understand exactly what they do and don't do. However, there are many ways to gauge a lender's reputation IMHO...

Is there any reasons why a seller would not want to accept a VA loan from a mortgage lender?
There are specific fees that cannot be paid by the veteran. Realtors and even lenders are not always clear on these. The VA home loan program is great -- and the best option for many veterans. However, it is not as common nor as conventional or FHA financing. Therefore it can be misunderstood. In my opinion,...

I live in Indiana. What are a couple of VA home loan Lending institutions/banks that are VA approved with (Lapp) and offer the bes
You're right, there are plenty of VA lenders and a ton of info to sift through and consider. If you ask around the Realtor community, you'll likely find that A&M Mortgage is the most reputable among government lenders in NWI. That's because we're incredibly experienced...

how long do i have to wait to get a mortgage after filing for bankruptcy?
You may qualify 2 years after the bankruptcy discharge date. FYI, the bankruptcy does not relieve you of the responsibility to payoff your mortgage. If you let the property go to foreclosure after the bk, your wait would be at least 3 years after the foreclosure. If you are not in foreclosure, you can buy...

my credit is 635 would i qualify for a conventional loan
Maybe...it's possible. Every transaction is unique and will be properly considered only with complete details of your situation. No one can give you a complete answer without complete details. By the way, one money saving solution may be learning how to quickly boost your FICO scores.

Would you recommend I boost credit score before applying?
It may or may not matter depending on the mortgage you are applying for.

Can i qualify for getting a mortgage with deferred student loans
Deferred student loans may or may not be counted against you depending on the type of mortgage you apply for as well as the repayment schedule. Whether you qualify or not depends on a number of factors all related to Credit, Capacity, Collateral...issues. It will take an overall review of your unique...

Getting a VA loan with family member on the mortgage
1.Those in the market for a VA Home Loan may find themselves in need of a co-borrower to secure mortgage financing. Adding a co-borrower to your mortgage can be beneficial when lacking the income, assets or credit needed to qualify.The VA wants borrowers to have a DTI ratio of 41 percent or less. And, even...

VA loan for retired and no income currently
Hi John,You will need a source of income sufficient to qualify for VA financing regardless of the lender you choose. Repayment/ability to repay is based upon your income. Whether it's pension, social security, W2 wages...If you want to discuss your scenario with an Indiana mortgage banker with 28 years...

home loan no pmi for 15% down anywhere?
You can pay a slightly higher rate without MI, or you can pay or have seller pay a 1 time MI premium up front or you can finance the MI. These are your most likely options. Feel free to contact me for specifics...Thanks.

Can I finance my closing costs on 100% Loan
No, However, there are several ways to accomplish the same results. 1) Negotiate seller credit toward your prepaids and closing costs in the purchase agreement. 2)Lender can pay your costs in exchange for charging you a higher interest rate 3) Down Payment Assistance -- if you qualify for it. Feel free...

What is the average closing time for a mortgage loan trhese days? From the app to closing?
It depends on the unique details of the transaction at hand. That said, if 30 days is average. Closing in 2 weeks is easy if all parties agree. We're often ready to close weeks before the buyers/sellers/Realtors agree to a specific closing date. In order to process a mortgage that quickly, you will...

I am searching for first time home buyer programs for 2015 in indiana
If you are trying to figure everything out on your own, visit http://www.in.gov/ihcda/2341.htm for FTHB programs. If you want to know what you qualify for specifically, feel free to call me 219-794-0600 or visit my website: www.LarryTheMortgageGuy.com.

Any lenders in IN participate in the FHA "Back to Work" Program?
Hi Allison,I totally disagree with William J Acres -- other than the local part. I have not heard of any lenders willing to take chances stretch guidelines that far. Ironically, this is due to so many other governmental regulatory issues. I'm interested in seeing if and how any Indiana lenders respond...