What do I do about financing two homes?
You can only have one primary residence. A second home would have to be in a resort area or have a justified reason to own a second home. One block away, even if it is in a better school district is not enough of a reason. You would have to purchase this property as an investment property.

Is consolidation a must right now?
A loan over $417,000 is considered Jumbo money and the rates are about 1% higher than conforming money. Your new loan would be about $556,000. Since your first is at 4.375% it would not make sense to do the refinance at this time.

Can I refinance my converntional loan and my heloc to have one loan at a lower rate?
You can't have a 100% loan to value loan when you are combining a first and a HELOC.

Underwater, need help.
You would have to contact your current servicer for a loan modification.

FHA After Chapter 7 Bankruptcy
You must wait two years after the discharge date. You also must have extenuating circumstances and re-established credit

Are FHA loans only for first time home buyers?
You can use an FHA loan as many times as you want as long as you only own one at a time. The FHA 30year fixed rates are in the low 4%.Please call Lynne Dewar at (928) 814-6362 and I can make sure you have the income and credit needed to qualify for an FHA loan,

who can qualify for harp 2?
The new HARP Program will not be available until March 1st.

No Cost Refinance.
Hi Bill,The no cost refinance is usually about .375% to .5% higher in interest rate in order to pay for the refinance. Make sure you get a cost worksheet showing enough lender credit to pay the closing costs.

My credit score is 735 and my wife's is 609 A broker said she needs at least 620. Is this true
Your credit score is only one part of the refinance. What type of loan do you have? FHA, VA or Conventional? What is your loan balance?What is the property address?

rebuilding credit
You need a minimum FICO Score of 620 to purchase a home. Keep building it up.

How long does it take usually to close a mortgage loan?
I am a Direct Lender and I can close your loan in 3 weeks or less. The smart thing to do is to get all your information for qualifying to me in advance so I can issue a pre-approval letter for you to go with your offer.Please call me at (928) 458-7068 for a list of items needed for your pre-approval.

Can I purchase a home with FHA or VA and get funds to add on an inground pool?
VA and FHA do not allow a buyer to get cash back on the purchase. You can ask the seller to pay for your closing costs and use those funds towards a pool. The FHA 203K is to fix up the home and a pool is not included in the allowable repairs and upgrades.