Home improvement loan
You may have several options depending on your credit score. With good credit, you may be able to choose between a HELOC or a cash-out refinance. Other considerations also include the interest rate on your current loan, whether or not you live in the home or if it's a rental, etc.If you would like to...

Can a lender out there help me refi?
Sounds like you are applying for a loan under the HARP program. Some of the lenders have different guidelines, so what Wells is saying may be true for them. If you are applying for a HARP loan, you do not have to go through the same lender and you should be able to get MI (if you previously had it) at the same...

Any suggestions on what I should do?
I agree with the answer above. It is always best to do business with someone you are able to reach out to and that you feel you can trust. I don't know anything about AIM, but I do get clients who have tried other internet lenders in the past. As far as costs and fee, that all depends on the lender, and your...

Can we get a First time Home Mortgage with a credit score of 603 and No banckruptcy or Collections
Yes, you can get a loan with a 603 mid-score, but the approval is also dependent on other things also just as Joe stated. To be simplistic, it depends on why your score is 603 and if you have demonstrated the willingness and ability to make a mortgage payment.We have helped numerous buyers in NW Indiana...

What are the refinance options for a USDA mortgage?
It is possible to do a USDA to USDA refinance, but the home has to currently be financed through USDA (if not, there may be other low interest rate options). There is a program in Indiana for the "Streamline" refinance, but not all lenders have the program available. Regardless, if you have a...

Can I qualify for USDSA/FHA financing with fico scores of 623, 580, and 596?
You may be able to get an FHA loan at under 600, but the rate and terms would not be as favorable. The best thing to do, in my humble opinion, is to have an experienced lender look at your credit report to see what it would take to get your scores above 620 or even 640. I'm in Merrillville and would be happy...

Getting quotes through lender 411
While it is great that you want to compare rates between lenders, the rate you are quoted may not be the one you get since the rate has to be locked for sufficient amount of time to close the loan. The rates may be a little different depending on if you get a 30 day compared to a 60 day lock. The two questions you...

Is there any reasons why a seller would not want to accept a VA loan from a mortgage lender?
There are really no valid reasons why a seller would not want to accept a VA loan. While there are a couple fees that the veteran cannot pay for that would normally be paid for by the seller, it is no different than asking the seller for concessions for closing costs. As far as qualifying for the VA loan, an...

Re-fi after chapter 7?
While what everyone else is saying about the 12 months of on-time payments, an automated approval, and qualifying scores is true, I would caution you to verify that you still have a mortgage on the house. Several times in the past year, I have seen a client that filed a Ch. 7 bankruptcy and did not reaffirm...

I want to refi out of an ARM but not sure if I should wait
It depends! If your current interest rate is above the currently available fixed rates, then you may want to think about refinancing if you are planning to stay in that home for the next several years. However, if you have a low rate now that does not adjust soon and you are planning to move before or soon...

Does credit alone make me a subprime borrower?
The best way to good credit is simple. You just have to show that when you borrow money (whether for a mortgage, auto, or credit card) that you pay it back ON TIME, EVERY TIME, for a LONG TIME. Since the scoring models take into account your payment history and length of time you have had credit, this is...

Is it possible to refinance current mortgage and get a new mortgage on a new investment home at the same time?
Yes, it can be done, but it could be a little tricky. Are you planning to use the equity from your existing home for a down payment on the investment property? There are a few other important questions to ask to make sure that this is as painless a transaction as possible for you. We're local if you need more...

When should I refi?
Unlike buying clothes or a car, there really is no "best" time of year to refinance or get a mortgage. The two most important things are 1. Is it a good time for you meaning is your debt-to-income ratio and your credit scores where they need to be, and 2. how are the interest rates. Since the rates are at about 6...

wat is the min credit score that fha will accept?
Many, but not all, lenders can work with a 580 credit score. Understand that it is not just the score that they look at, but what is on the credit report that is causing the score to be where it is. If there are recent late payments, collections, liens, or judgments, etc., the lender may require that they be...

What is the lowest credit score needed to get a loan?
We are able to lend to clients with scores as low as 580, but we also look at what is on the report itself. if there are open judgments and/or collections, or you have a recent bankruptcy or foreclosure, that will have to be considered and may make you ineligible for a mortgage. It's best if you speak with a...

Are there any drawbacks to appealing an appraisal that’s lower than the purchase price?
You didn't mention if you are the buyer or the seller, as that does make a difference. Assuming you are the seller, you always want the appraisal to be at or above the purchase price.The buyer, on the other hand, may want to see the appraisal come in at or under the purchase price so that they can possibly...

How do I use my VA Home loan?
Thank you for your service. We all appreciate the sacrifices you have made for us.This is why the VA loan exists! The first thing you want to do is check your Certificate of Eligibility to make sure that you are eligible for the VA program. It's pretty easy and takes me just a minute or two. Next, we would check...

VA Loan with poor credit
First of all, from the bottom of my heart, thank you for your service! Unfortunately, I am not able to do a VA loan with that score, but there may be other lenders who can. My suggestion is to contact a mortgage lender (like myself) who really knows the VA program - not all lenders do because the guidelines...

If I am looking to buy a home at the end of the year, when should i start looking for a loan?
There are a number of variables that you need to consider. Your credit is one since you want to make sure your scores are good and there is nothing reporting that could cause you problems when you are ready to buy. You also need to consider how much money you will need for down payment and/or closing costs. I...

Looking for a lender, I am a 1st time home buyer
I'd be happy to answer your questions or help in any way I can. I'm here in Indiana and know what programs are the best fit for you and your particular situation. Check out my info by clicking on my name above this post. Thanks!