VA Loans
I would be glad to pre-approve your loan. We are a direct lender/bank and do VA loans "in-house" with efficient underwriting in the same building. We can broker loans as well, but there is no benefit. The interest rate right now would be 3.875% (APR 4.081%) with regular (still low) closing costs. ...

Can I get a 4.0% Home refinance rate?
Brian,Yes, 4% is absolutely possible, and a 15 year fixed loan can be in the low 3's. The truth is that every interest rate has a cost associated with it, and it is your choice as to the interest rate that you choose. Take the time to compare and let me clearly show you your options with no cost or...

Currently looking to refinance a home, where do I begin?
Greetings Gary, I looks like you will greatly benefit from a refinance. You need to take the time to explore your loan options with a mortgage professional. As part of my offer to you, there is NO cost or obligation for you to clearly see your options. Please take the time and make the effort to compare and...

Maximum LTV for HARP 2?
Harp 2.0 should be fully implemented on March 17. Although FNME has stated that their is no LTV cap for qualifying rate-and-term mortgages that are "owned" by either Fannie Mae or Freddie Mac (and delivered to them before June 1, 2009), some lenders are waiting on what the investors will...

I'd debt to income (DTI) a requirement in the new HARP 2.0?
HARP 2.0 does have a debt-to-income requirement. I am seeing approvals ups to 55% DTI. Although the guidelines and documentation are more lenient, I will need a full application to run the approval against Fannie Mae's automated approval system. Opes Advisors is located in Eugene, and is a direct...

Any alternatives to HARP 2 for folks with perfect credit but not backed by Freddie/Fannie?
I concur with the subsequent lender. Either you can check with your current lender to lower the rate, or wait for HARP 3.0, which will probably be a better deal for you. If you refinance with your current lender now, then HARP 3.0 may not be available to you because you already refinanced recently. For...

I'm thinking of buying a home (1st time). Is a DTI ratio of 17/32 good enough to ask for a loan and get pre-approved?
It sounds like your DTI and credit score are not the issue. The down payment is your hurdle. Although a 3.5% down payment FHA loan is an option and it is a good option if you want to use 100% gift money from a relative, or you can do a 0% down USDA Rural Development loan outside the city limits, I would prefer to...

What is the first step in getting a home loan?
Hi Sandy, The first step is to meet with a local mortgage professional who will clearly show you your options. Once you have gone through the pre-qualification process and you are also comfortable with what you can afford, then you can confidently shop for a home. Finding a good...

Home classification for refinance
If you don't report rental income on the schedule E on your federal tax return then this would be considered a second home. A second home has similar pricing adjustments compared to a primary residence, where as an investment property has a higher rate/fee combination.Opes Advisors is a...

Appraisal
In general, you will not need an appraisal for an FHA Streamline refinance, a VA IRRL, or a HARP loan. Not too often, you will not need an appraisal, or just a limited appraisal for a regular refinance. I have several in process right now, and can show you proof if you would like. With a free, no obligation...

FHA or not?
Opes Advisors, Inc. is a regional direct lender bank with underwriting, document preparation and quality control right here in EUGENE! With no cost or obligation, I would be happy to explore your options in further detail. Please call Randy Free at 541-681-8787, or rfree@opesadvisors.comThe two 0%...

My mortgage is owned by Freddi Mac (settlement date 5/12/2009.
Although your settlement/closing date is 5/12/2009, the date that your loan was sold to Freddie Mac is the actual date that is used to determine if you meet the 5/31/2009 cut-off date to be eligible for the HARP refinance. You can find out for free, and with NO obligation by having a lender run the...

Can I still get a standard FHA refinance if I missed a payment within the last six months?
I can provide you with free, no obligation, local underwriting, professional advice. Please feel free to contact me.Randy Free NMLS# 283930 Opes Advisors, Inc. NMLS# 235584Email: rfree@opesadvisors.comDirect Phone: (541) 984-54284710 Village Plaza Lp Ste 210, Eugene, OR 97401

Is it possible to find out if I home I don't own has any liens or outstanding mortgages?
Yes, and I will be happy to help and look up your information. No cost or obligation. Opes Advisors is a direct lender mortgage bank to Fannie Mae with underwiting in our building here in Eugene. Please contact me at: Randy Free (541) 984-5428 or rfree@opesadvisors.comMortgage Advisor NMLS# 283930 Opes...

FHA vs. Regular mortgage loan? First time home buyer.
Hi Suzy,The mortgage lenders on this site have offered some great advice. In addition, if you are not in a hurry to purchase a home, you can take a first time homebuyer course. Organizations like NEDCO & Neighbor Works of Umpqua offer classes (e.g. "The ABC's of Home Buying"). You can...

What money can be used to pay for closing costs etc. when purchasing a house?
Yes, this is your money and with documentation is an acceptable source of funds. The down payment needs to be your money (some or all of this money can be gift money from family depending on the loan program). The closing costs and the escrow pre-pairs, and interest collected at closing can all be paid by a...

Which is better, a cash-out refinance or a second mortgage?
Although you may very well be able to obtain a very low cost Home Equity Line of Credit, the interest rate will be variable, and may rise in the future. If you opt to take the fixed-rate option on a 2nd mortgage, then the interest rate will be higher than just one first-lien loan that you would receive if you...

I am looking for fixed rate second mortgage in Bend Oregon
I agree with the previous responses that a local credit union can offer good choices 2nds, but will typically only go to 80% to 85% loan-to-value.I'm happy to offer my 'free' professional advice to review your scenario in greater detail. to see if there are any other mortgage options that will serve...

Are there higher rates for cash-out refis?
Yes, for a cash-out refinance on a conventional loan there are standard loan-level price adjusters (for Fannie & Freddie loans) unless your loan-to-value is below 60%.I'm happy to offer my 'free' professional advice to review your scenario in greater detail and to see what best mortgage options...

could i go zero down for VA with a 620 credit score?>
Yes, with our company as well as most other lenders who do VA loans, you can go down to a 620 credit score and with zero down.