Forgotten Your Password?

Need to Register?

Cory Blackburn's Answers


I refinanced 14 mos ago to a 15 year FHA loan. FHA streamline eligible?
You can definitely qualify for a streamline if you are currently on a 15 year FHA loan. There are a couple ways you can go about it to get the best terms possible. With your equity position however I would strongly recommend you look at conventional financing so you can get rid of the PMI. In addition, with...
Combining loans
Because it's 2 separate parcels it's going to be very tough to find anyone willing to do one loan with 2 parcel numbers(At least with competitive terms). When the deed is recorded, it will show the parcel that is collateral for the mortgage note and you can't have 2 parcels. I think these...
How do I get a FHA loan with no established credit?
Since your loan must be run through and automated system and be approved before a human can look at it, you must be generating a credit score. There are some programs that allow for "manual underwriting" but the way the market is, this have other higher restrictions to meet. The utility bills...
How do I find out what my property value is?
Utah is tough because it's a "non disclosure state" meaning when a property sells, the sold amount does not have to be made public. When I check values in CA, I can run a report in just a couple minutes and typically get close to what it will end up appraising for. I like the Chase home...
Is it possible to refinance two properties simultaneously?
Like most answers in the mortgage world.... it depends. You have the FICO score necessary, but other factors come into play-- income, other debts like cars or credit cards, all the housing payments, and the big one these days... equity. The good news is on a refinance for your primary residence and investment...
pre-approved for mortgage
PreQualified means you have had a conversation with a loan officer on the phone about your income, job history, credit rating, and assets for down/closing costs. This just gives you an idea of how close you are and where your payments will land. It will not satisfy the requirement to have an approval...
what's the standard waiting period to buy after foreclosure
This is one of those "it depends" answers. Depends on the loan product you want to apply for, the reason for the foreclosure, the amount of re established credit, the down payment amount, and your current credit score. Because a foreclosure is a pretty serious derogatory mark to have, you will want...
Does my current house count as an asset for a new mortgage?
It's an asset as far as the real estate section of the application is concerned but not an asset as far as the liquid asset section is concerned... like savings, stocks, 401K etc. In your situation, you can't use one property as an asset for another property. You would have to pull cash out of the home that is...
Will anyone give a mortgage with a 615 fico score with 20% down?
As long as at least 10% down can be documented as your own funds then yes a 615 credit score will be acceptable. There are other requirements that are pretty minor but the biggest hurdle I see with our less-than-640 FICO program has to do with the down payment.

Subscribe to our news feed.