Middle FICO score of 744, what kind of rate for a home refinance on mortgage?
Yes, you actually have a few options. You and your wife would qualify for either a conventional loan on a residence of 1-4 units or a FHA loan. The best rates right now with a mid fico score of at least a 660, the subject property is your primary home and the loan you are requesting is for a rate-term only...

Can I get a USDA home loan in Riverside, CA?
Yes you can if the home is eligible for a USDA home loan. Check if the home is eligible- http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.doIf not, you should not have a problem qualifying for an FHA loan. You would need a minimum 2 years verified being self employed. Your net income should...

Are there any cons to a no cost refinance?
Yes, there are pros and cons with a no cost refinance. Personally, I would not instruct my clients to pay down or pay for lender fees if you can avoid it right now. Rates are extremely and it does not make since to pay the additional cost for a lower rate by .25% or .5%. Depending on your loan amount it could take a...

Can I consolidate 2 mortgages into 1?
Hello Ridgecrest,Yes, I would suggest the same. Refinance you first loan if your second is willing to subordinate. However, a recent development has come up with the HARP (Home Affordable Refinance Program) specifically targeting home owners in your exact situation. The extended/new guidelines...

how much of a home loan can i qualify for?
Yes, there is a solution for you guys. You would qualify for an FHA loan based on the credit scores you provided, however they are very close to disqualifying you for the loan. Of course, there are other considerations that the underwriters look for the qualifications, but it sounds like you guys have a...

What is considered good credit score?
Yes, 659 is your mid-score that we as lenders will use to base your qualifications for a mortgage and what type of financing you qualify for. However, this is just 1 of many factors we look at. To answer your question, yes, I would consider this good credit, not excellent but good. And yes, as William stated...

Secondary Income problem
Is your mother on title as well? I just actually did a conventional refinance for a father who took a loan out for his son's property. I was able to get the loan approved based on 24 months cancelled checks, son was on title, sons tax returns, and a few other items needed for approval. Give me a call or...