Can loan agent lock the rate without telling or informing me?
Your agent can not keep you in the dark regarding locked rate. The agent can not lock the rate for you without your consent. You can take legal advice for that. The lender may be or may not be aware that you have been kept at dark regarding the locked rate. It is good that you have received the good faith estimate...

Refinance a 100% LTV loan.
Hi Andrew,As far as I can understand, you have equity in your home. As there is equity and you have a good credit score, you will be able to get a refinance on your property. However, while you refinance your mortgage, you will be liable for paying closing costs and down payment. Unless you have the money for...

I was told that the reverse mortgage loan amount only depends on age and property value?
Hi Randolph,A reverse mortgage is a type of home loan especially designed for the senior citizens (those who are 62 years or more of age). In order to get such a loan, you should be the owner of the property and it should be your primary residence. Unless you meet these criteria, you won't be able to...

Can I get a 5% down payment Jumbo Loan with 680 credit score?
With a down payment of 5% and a credit score of 680, you won't be able to qualify for a Jumbo loan. A jumbo loan will require 20% or more money down. Moreover, with a 680 credit score, you won't be able to qualify for a normal conventional loan, forget getting a Jumbo loan. However, you can get a FHA...

I need a lender that will do a manufactured home on a foundation but there's a second unit on the property subject to the property thank you
Hi bbarbera,It is good to note that the manufactured home is on a foundation which will make it easier for you to get a manufactured home loan. However, in order to get such a loan, you will be liable for meeting all the required criteria of the lender. You should have a stable employment, you should be able...

can i refinance my agriculture zoned property with residential loan now that I have a dwelling on it (california)?
As far as I know, you may be able to get a residential refinance on an agriculture zoned property. But you should note that such loans fall into problems when they are in the underwriting stage. It is better to take help of local mortgage brokers who can give you many loan options and also suggest local...

How long does pre-approval last?
Hi,Well, the time period for which a mortgage pre-approval is good depends on the loan program which you will be using. In most cases, a pre-approval for home loan is valid for 1-2 months. But again, there are certain mortgage experts who opine that a mortgage pre-approval is not worthy enough. It will be...

Currently in Chapter 13, is there a requirement that I file a loan mod ONLY with my servce lender?
If you wish to get your loan modified, you will have to contact your existing lender. This is irrespective of the fact whether or not you have filed bankruptcy. The existing lender will decide whether or not to modify your mortgage.

my name is not on the grant deed. can i co-sign for my husband to refinance
You can co-sign for the loan if you meet all the required criteria as put forward by the lender. When you co-sign for the loan, the lender will ask your husband to add your name to the property deed. This can be done with the help of a quitclaim deed. Thus, at the end of the deal, your name will both be added to the...

I paid off a loan last year and the loan had to late payments on it,and even though it has been paid off for 1 year .
The late payments have been reported by the lender and it is a negative item on your credit report. Similar to any negative item, the late payment will remain in your credit report for 7 years. However, as you have paid off the loan, you can contact your mortgage lender and request him to remove the late...

should we refinance a paid off rental property to pay off primary house
If you can afford to the pay the closing costs and other associated fees for the refinance, then you may go ahead with the deal. If you refinance your rental property to pay off your primary home, then it will help you make your primary home free and clear. Thus, it will become a safe asset for you....

Is this a good time to buy or should I wait until investors buy all their investment properties?
Of late, the mortgage interest rates have increased. Apart from this, employment situation has improved and number of inventories in the market have also reduced. This has led many people to buy their homes now so that they can take still take advantage of the rates now available. People are...

How long does it take these days for the mortgage to close?
If everything goes fine and if you meet all the required criteria of the lender, then it will take around 45 days to complete the mortgage closing. Also, rate locks are mainly available for 45 days. So, it will be better if you can take all the required steps to complete the mortgage closing within 45 days.

I am looking for a bank to do usda loan that will let me buy land and put new modular home on it
You may apply for a USDA loan with Chase who may help you secure funds from their Chase Rural Housing Program in case you meet all the required criteria of the lender. Apart from this, Flagstar Bank (FSB) also offers USDA mortgage to qualified borrowers.

What is the best way to compare refinance offers from a couple of lenders ? Do we ask for good faith estimates
Most of the lenders now have their own websites where you will find a no obligation quote form. You can fill out that quote form and submit it. You will be able to get the quotes from them in your e-mail. This will help you know the rates and terms that the lenders will offer you. They can even send you the details...

va loan after short sale
How long has it been since your previous property was short sold? If around 2 years have passed since the short sale and if you do not owe any money on it, then you can get a VA loan for buying a new property. However, your husband will have to meet all the other required lending criteria for the VA loans in...

my name on deed not mortgage never married if house forecloses my credit affected and can i buy my own home?
Your name is mentioned just on the property deed but not on the mortgage. In such a situation, you are just the owner of the property but not liable for the mortgage. If the property is foreclosed, your credit will not be affected and the lender will not be able to come after you in order to recover the dues. If...

How long do i wait before i can sell my house with an fha loan?
You do not have to wait in order to sell off your home with a FHA loan on it. You can sell it off as and when you wish. However, you should remember that once you sell off the property, you will have to pay off the loan in full. You should also check out whether or not there is any pre-payment penalty clause...

need second opinion.. should i lock today? is the government shutting down going to raise interest rates
Mortgage interest rates keep on changing on a daily basis irrespective of government shutdown or not. If you consider the mortgage interest rates to be good and if you can afford to make the payments as per those rates, you can go ahead and lock the rate.

Can i borrow on a conventional loan then add my wife to it later?
If you just want your wife to have rights to the property, then you can sign a quitclaim deed and add her name to the property deed. However, it will be better if you could inform the lender about the same. In case, you want to add your wife to the mortgage, then both of you will have to refinance the existing...