Are there loan options for public school teachers
Hi there,Yes there is. It is called "The Teacher Next Door." it allow for eligible homes to be purchase with only $100 down when using an FHA Loan (I am not necessarily recomending you go FHA however). By the board comments you can probably see you have many options. Additionally,teachers and...

Can you wrap a VA loan?
Hi Linda, I believe with a little more context that a sufficient answer can be attained. Please give a scenario for the "wrap" indicated.Thanks -

takig out HELOC on investment property for repairs?
Depending on your overall situation - you may be able to take a less thought of route and ask your local bank or credit union for a signature line of credit. This wouldn't be attached to the property and is typically reserved for those with good credit and steady income. They are typically without fee and...

Im considering a 401k withdrawal for my mortgage
I would believe considering a low or "no" money option may be a great consideration. You may be able to get into a home for as little as zero to 0.5% (thats 1k on a 200k home). I would explore this option all day long as a first time homebuyer. As a first time home buyer you may also be able to benefit from Idaho's...

Is it a good idea to be pre-approved by several lenders?
Great questions always lead to more questions. Is rate the real concern or is making sure that you are qualified for a mortgage ? Shopping can be done most effectively once you have a property and are are essentially ready to go. If your credit is challenged or if you are given the indiction that you are on...

Is it possible to refinance to a conventional mortgage from FHA and get cash out?
Absolutely. Depending on your need for cash you have several options. If you want to go over some quick scenarios please give me a jingle as I am just down the street in Eagle, ID.Mark Rodeghiero 208-938-2228 x200 Source Mortgage, Inc. NMLS 1871/32760

In an adjustable interest rate loan, is there a limit as to how high the rate can go?
Hi -Conventional ARM (Adjustable Rate Mortgage) loans do have limits as to how high and to how low the rates will go. Depending on the program the rate will typically stay fixed for a set period of time, there will be a 1st Adjustment that will have a limit (cap) and then each period (usually year)...

PMI question
Howdy - This is a great question. As it appears you are not below the 80% loan to value mark to contest it away. The best option left is probably to refinance it away by utilizing one of our no MI mortgage programs, OR to utilize another means to pay down your first to the 78-80% loan to value range. Most loans...

Once I lock the rate with a lender, how long will that stay in effect?
Hi there - Locks come with predetermined timeframes which are typically between 15 days and 9 months. The most common is 30 day. Once you lock, your lender should send out a confirmation disclosure indicating what the expiration date is. Rates can be extended if needed for multiple days, for a slight...

Is it an issue that the bank account I use is also in my fiancee's name? He will not be on the mortgage loan or the title.
Not at all. You will likely need to provide a simple letter signed by them indicating that you have full access to the funds in the account. Hope this helps. - Mark Rodeghiero w/ Source Mortgage of Idaho - 208-938-2228 x200 :)

property tax exception fargo nd
Fargo has several property tax exemptions. The following link should help. (http://www.ci.fargo.nd.us/Residential/PropertyTaxExemptions/ We do transactions in Idaho but let me know if you need help finding a solution.Here to help - Mark Rodeghiero NMLS 32760 Source Mortgage, Inc NMLS...

Disabled Vet Discount
Hi ReddRover - VA loan funding fee exemption data for veterans who are already discharged and receiving VA benefits can be found "on the Certificate of Eligibility" which we are able to obtain with you. This will take any quess work out of the equation.If you have any questions about how to find this or...