What else can we use besides a W-2?
Hello,With today's strict underwriting guidelines you must provide a 2 year history to support self employed income or 1099 income. The numbers must be supported by tax returns. The lender will also pull a 4506-T (request for a copy of tax transcript) prior to underwriting and that must match up...

Will shopping for a loan hurt my credit?
You have 14 days to compare lenders and have multiple credit pulls without a negative impact on your credit score. From a scoring standpoint it will only impact your score as if you only pulled credit 1 time. This same principle also holds true when shopping for a car or credit card. The key is shopping for...

I'm a US citizen living abroad and I would like to refinance my US mortgage, but every time I try it seems that it's never worth my while, even though my current rate is 5.875% and I'm seeing current rates at like 2% points lower. The fact that I'm renting my house while I'm abroad seems to mean the current rates don't apply to me as my property is considered an investment property and therefore the rate goes up, negating any financial benefit to me of going through the refi. I've currently got around 15 years of a 30 year fixed mortgage to go, and I'm wondering if there is any no-nonsense way I can go about taking advantage of the current low rates to make it worth my while to refi?
Hello Frank,The 2% rate you are referring to was more than likely an Arm. 15 year fixed rates are ranging from 3.5% - 3.75% depending on your personal situation, (credit score, debt ratio, loan to value, etc...)If you still consider your house your primary residence and you are abroad temporarily (3-6...

My credit score is over 800. Any stated income or no doc lenders out there?
You want to go with a private money investor. There are loan programs available for you especially if you have some assets or stock accounts. I'd be glad to discuss some options with you. Call for details 513-403-6260

Stick with my current lender, or go with a new one?
Choosing a lender is both a personal & business decision. You want to choose the lender that can give you a competitive rate and closing cost but you must also feel comfortable with him or her. Just because one lender has a 1/4% better rate does not automatically mean that is who you should go with. That...

Need more info on ING direct mortgages
ING is known for their Jumbo Mortgage Rates and those are typically short term loans and arms. I would not be overly concerned where a lenders office is located. The key thing is to make sure you have a good relationship and trust with your loan officer and to make sure the lender you are working with is...

How to refinance a new Fannie Mae - Freddy Mac backed loan?
Although you are in a tough position it is not an impossible one. You may be able to do a Du refi plus loan (Home Affordable Refinance or a Freddie Mac open access refi. These programs let you refinance up to 105% Loan to Value. Another option you have is to pay down or pay off the second mortgage so you are at 96...

Are these any lenders that would provide a loan for my buyer that does not have seasoning issues?
You don't have to worry about seasoning if you can source the funds. Simply supply the proof where the funds came from. If this is not an option you can always go with a private money lender or investor.For additional details call 513-403-6260 or visit my web site.www.myenglender.com

Seller paid down payment?
To be clear and technical a seller can not pay for or gift to you a down payment. The seller can pay for your closing costs and you can also have them pay for you to buy down the rate and even on an FHA deal have them pay the FHA funding fee as long as it's on the purchase contract.Call for additional help...

arm 5/1 rate
I agree with my fellow loan officers on this one. You must talk with your preferred lender to get an accurate rate quote. Also, credit tier pricing breaks occur at 720+, then again at 740+ credit scores.As always I provide free pre-approvals and a free copy of your tri-merge credit report with your Fico...

close to retiring and looking for lower monthly payment and lower interest rate
The current mortgage market is presenting you with a great opportunity to lock in a fixed rate at historical lows. Sounds like you are being proactive in planning for your retirement as it is easier to qualify for a mortgage while you are still working.I look forward to the opportunity to serve you with...

Mortgage loan options 3 years after foreclosure?
At this point it sounds like FHA is the only form of traditional bank financing. However there are alternate forms of financing available to you and pleanty of private money investors eager to lend. I would be more than happy to discuss these options with you. ENG Lending, A Division of Bank of England,...

Who can offer FHA's?
Most all Banks offer FHA and Brokers must be HUD approved or licensed to offer FHA. I lend nationwide and would look forward to the opportunity to serve you with all your mortgage needs.ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity...

How can I refinance this investment property.
Hello Trenton, MII agree with my colleague on this scenario. Considering your situation and the loan to value your current rate is not that bad. If you have other assets or stock accounts there are some great asset based loans with great interest rates. If that is an option for you contact me and I will go...

How can an appraisal hurt your options at refinancing?
Since an appraisal is a vital part of any purchase or refinancing transaction it can definitely have an adverse effect on getting the best loan pricing. Unfortunately this is beyond your control as to what the value may come in at. The higher the loan to value the more likely that your interest rate will...

Dad has underwater mortgage, can't make payments.
I would suggest getting some professional legal advice from an estate planning attorney before making any decisions or talking with the current mortgage holder. There are some strategies you can take advantage of legally and you may also be able to preserve some of the family assets. Please feel free...

second home
Hello Ramesh, We are very aggressive on second home financing. I look forward to the opportunity to earn your trust and serve you with all your mortgage needs.ENG Lending, A Division of Bank of England, always puts your best interest first. We would appreciate the opportunity to serve you. Please visit...

FHA w/ 608 credit score...anyone doing these?
In mortgage lending we use the midle fico score. Just because your Equifax score is a 608 does not mean you would not qualify. We need to pull a tri-merge credit report to find out what Experian & Transunion are reporting. I provide free pre-approvals and a free copy of your tri-merge credit report. ...

Underwater on a non-FM loan
I would need a little more information as to your personal assets. If you are able to bring money to closing than refinancing should not be a problem. I don't think that would be in your best interest though. I would not want to take money from savings or stock accounts and reinvest them into an asset...

Will I save money if I refinance?
The answer to your question would be determined by a math equation as follows: Take the current principle and interest payment and subtract it from your proposed new principle and interest payment. Take this number (monthly savings) and divide it by the closing cost of your refinance. That will give...