is the mortgage company contractually obligated to the rate in the loan application?
They can only change the rate if there is a "verifiable change of circumstance". If the rate was locked, nothing changed, and now they are trying to change the rate contact consumer finance.gov.Contact me at Matt.howard@northpointe.com if you have any follow up questions.

Can a VA loan be obtained after. bankruptcy?
2 years Best to get a pre-quailification in Grand Rpids, at this time.Shop around happy to get you a detailed quote.Matt.howard@northpointe.com

Reasonable Fee for Extending Rate Lock?
Yes

What is an Acceptable Debt-to-Income Ratio?
Hello, Assuming you are looking to purchase this is on the high side. Generally as you have probably heard 45% is about the magic number.Now items can be paid or you can restructure your debt. You can pay off a debt, refi a car, or refi a student loan. These are all things clients have done to lower their DTI. Can...

Are 5% Down Jumbo Loans Available in Pennsylvania?
My company has a investor that offers 95% Jumbo loans. I quouted one the other day and the rates was not bad but most of the options required 1 discount point.I would be happy to run a detailed quote for you. I can do this without your credit report just need a bit more additional info. Matt.howard@northpointe...

What Are The Best 30 Year Fixed Rates Today in Laguna Niguel, CA?
A lot of variables but I quouted 3.75% fixed on a 30 year fixed the other day. In context it was. 420k loan, 800k purchase, perfect credit, owner occupied, sinlgle family home.This was with 0 pointsIf you would like a detailed quote itemizing any rates and fees please email Matt.howard@northpointe...

Are there any drawbacks to appealing an appraisal that’s lower than the purchase price?
Assuming you are the buyer only timing. You cold miss your closing date.

Is it possible to Refinance a VA second tier home loan?
Yes, VA IRRLShop around. I would be happy to provide a detailed quote. With a email to Matt.howard@northpointe.com I can provide a short list of questions. No personal info just questions on the loan scenario.

Shopping for Mortgage with a Variety of Companies
Hello Patty,This sounds like the lender may have made an error of some sort. You can shop as much as you want for a loan. It is your legal right to do so. When you find a house most lenders will want a deposit to work on your loan. Again you could put down 5 deposits and have 5 people work on the loan. Financially it...

We are-financing my home and my son is on the Deed now he re-married and we want to get him off the title.
Hello JoseThe first comment is spot on. The title company will prepare a deed to remove him. He does need to be agreeable to this. If you are refinancing shop those loan terms. We saw a nice positive movement in the market today for rates. I would be happy to send you a detailed quote. Please contact me questions....

Refinance Without a Second Mortgage
Hello JulieSome more info would be needed. If you email me at matt.howard@northpointe.com I can send over a questionnaire. Generally this would not be an issue there are a few questions that would need to be answered first.

Getting a VA loan with a 652 credit score and income of 60,000
Thank you visiting this site. Its best to compare a few different lenders. Please email me at matt.howard@northpointe.com. There is some more detail that is needed but I can email you short questionnare. Once that is returned I can provide a nice quote in full detail

interest only loans are they a good option when you are low on cash? is it like an ARM. what happens when it comes do?
What William said. Its nice when your income has a great deal of fluctuation.If you are looking to buy a home and are low on cash for the down payment you might want to look at 100% financing. We are able to offer offer 100% up to a $450,000 loan amount. Please contact me at matt.howard@northpointe.com for...

What does “re-amortizing” a loan mean?
Hello Ignacio,I find in many cases a client can refinance their loan for 0 costs instead of a re-cast of the loan which would come with a cost. If you find yourself with a rate 4% or above this might be a better option. Please email me at matt.howard@northpointe.com for a loan review. I will send you a detailed...

How much should a normal loan processing or underwriting cost?
This is a great question! A "no fee" generally means that there will be 0 closing fees on the loan. This is a good option but it also a marketing ploy. All loans will have fees to complete the loan. Every loan will have title work and your county will charge you a fee to record the loan. In most cases there is an...

Paying Off Mortgage in 15 Years With a 30 Year Mortgage
Smart move. I always use the story about a client I had who was set on a 15 year who called me back in panic because he went home that night and had to put braces on both his kids. Things you are not planning on will probably happen over a 15 year time line and having that flexibility is good. The calculator on this...

Looking to refinance
Hello Don,Is the amount of the home loan greater than the value of the home? On a conventional loan you can borrower up to 95% of the value of the home. Best way for me to help is to get a fully itemized quote from me so that you can review our rates and fees. Do this with other lenders as well and compare.In the...

What is the lowest down payment requirement loan in Georgia?
You can borrow 100% for on many programs, 3.5% for FHA and, and 3% on a conventional.I would get a few different quotes. When purchasing a new home you will also need money for closing fees, title work, taxes, insurance, and the state will charge you a fee. Lenders can offer money toward paying those closing...

What should be the average closing cost on a $580,000 loan in CA?
Review what the lender is charging you and review what the title company is charging you. https://www.titleclose.com/ you can use this site to build a title quote. if you are paying a lot more negotiate it. Keep in mind your contract may spell out who you need to use for title work.Happy to send you a detailed...

Is there a governing body that protects home buyers when working with mortgage lenders?
Hello WilliamThe CFPB is your best source. If it is something that needs to be completed timely you will want to talk to the lender or find a new lender. There is verbiage in the forms you signed to protect the bank in case of appraisal issues. The communication you received just sounds like bad...