Why would anyone do a 15-year fixed mortgage?
Why would anyone do a 15-year fixed mortgage? Well for starters, You generally pay a lower interest rate with a 15-year loan. You will pay less interest than you would with a longer-term loan and build equity quickly. But don't forget, Your payments will be higher than those on a 30-year mortgage....

Hi Barto, PA! Looks like your question isn't showing up...

FHA-Approved condo
This is a tough question, if you would like we can look into this for you further.Please contact Brock Hicks at 949-287-4058, he is an FHA Expert and would be happy to help you get this figured out.

PLease help me with "Origination Fee"
For staters that rate sounds too high for a 5/1 ARM. Our current rate for 5/1 ARM is 3.625% with 1 point or 3.375% with 2 points.Call me at 949-274-8564 my name is Josh if you would like to get a better deal than what you are currently being offered.Now for your original question...What are points? Points are costs...

purchase a home by end of sep 09'
This is definitely more than just 1 Question - If you go through Rate1st.com you will be able to do a Free side-by-side comparison of almost every bank and direct lender in the country, (including Bank of America, Wells Fargo, Citi, Chase, ING direct, MetLife, etc.) Plus get some Free advice on the best...

What is a better choice a 15 or 30 year mortgage for new home?
Well the general idea is that you would take that $96,000 out of the bank in 15 years and payoff your mortgage. If you can afford the 15 year fixed payment then I would have to suggest that. In fact if you would be interested we are currently offering a 3.875% on 15 Year fixed with a 3 point buydown, this would...

My first home purchase question
Yes, FHA is the best route to take. Everyone that has an FHA loan pays mortgage insurance (PMI). The monthly mortgage insurance amount is calculated at 0.5% of the loan amount per yr. (Ex. 200,000 x 0.5%= 1000 per yr /12 payments= 83.33 per month.Sounds like this is a slam dunk for you. Our interest rates are...

buy our first home.
Good News! - This sounds like a great scenario. With credit scores over 720 you will qualify for great pricing. Interest rates are really low right now, have been for the past week (go to www.rate1st.com/rates to view). I like your 10% down option given the available funds. We can work out the job history and...

how do I get my 100.00 credit to buy leads for filling out the survey?
Thats a good question, you may want to call Eric at Lender411, he can probably answer that for you.

home buying question
I can answer that question for you no problem but I need to speak with you to clarify some details. My name is Brock, You can call me at 949-287-4058 or email me direct at bhicks@rate1st.com

self-employed, looking to purchase a home
If you have $500k in the bank then you must have made some money over the last few years... Do you have personal tax returns that show income? Decent bank statements? ** If so we can still go conventional and get you a decent rate. ** If not, We can still get you approved but it will be 50% max and your interest...

bank or broker? what is best option?
Whatever Bank You work for they are probably in our network, why don't you see how they stack up against everyone else?? At Rate1st.com You can compare all the options for Free! We have a Network of over 25,000 Banks, Lenders, and Private Investors. Plus, a hot list of the top 100 lending sources in...

600k house best scenario
Thanks for your question. Your BEST case scenario would be to put enough down to get the new loan amount at 417,000 or less. If the purchase price is 600,000 and the new loan amount is 417K or less, you're putting approx 30-31% down; which means you will NOT have mortgage insurance! Ex, if you put less...

is this impossible?
Sounds like you are on track with ordering credit cards. Since your wife is the wage earner, she'll need to have credit scores. As soon as the credit cards are in her name and reflect on credit, her scores should populate. The suggestion to have an auto loan payment was to help with more...

750 credit score family needs help
If you call us at 949-287-4058 we can spend 5 minutes getting a clear picture of your scenario and give you some accurate answers.

If I refinance my bank loan through an individual investor, can I still deduct the interest on my federal taxes?
This is a question for your CPA. If you don't have one you can look up one in your area free of charge at CPA Directory - http://www.cpadirectory.com Search free for a CPA by state - 450,000 Certified Public Accountants and CPA Firms searchable by name, location and industry focus.

Buying down the rate, how does it work?
Thanks for the question. They are charging basically 1% of the loan amount to "buy" your rate down 0.125%? If that is the case, I wouldn't buy it down. I would sure like to take 5-10 minutes to run your scenario through our system. We have some amazingly low 5 yr ARM pricing. I'd also like...

If you have a down payment of less than 20% does that automatically mean you have to have an FHA loan?
No, that is not true. You can do conventional financing as long as you put 10%+ down. If you have good credit scores, over 720, I would look at doing conventional financing to avoid the FHA upfront mortgage insurance fee of 1.75% of the loan amount. Regardless of FHA or Conventional, you would obviously...

My 7-yr fixed resets next sept (2010), but should i refi now?
I would recommend taking action now! Don't wait until rates go up and it is too late. We have some of the best 7-year fixed rates in the country, currently as low as 3.5%!! We can have you approved in as little as 48 hours. Start your application at www.Rate1st.com or call me direct if you have any...

would private loans be the right thing for me?
It will either need to be seller financed, someone you already know, or you are going to pay a higher interest rate (typically 9%+, which is basically hard money). But since rates are so low right now it would make a lot more sense to go with conventional financing. Check out our Current Rates at www...