What is the difference between streamline refinance vs regular refinance on fha loan?
What no one has mentioned yet, is that on a true streamline, there will be considerably less documentation required by the lender that you would have to provide.Again, believe it would be nearly impossible to add name to the loan in a streamline format (but adding name won't really change the...

What would be the best way to save money when refinancing?
Part of the answer is going to depend on what you want to do and what your current interest rates are. There will be different answers if you are going to just consolidate the two loans into one without taking out any funds, or if you want to take out funds as well - because some of the costs will be dependent...

Can I use the equity from my first home to get a better mortgage on another property?
The rates would be roughly the same, however, you would most likely have to put the 20% down if you were using the investment property as the security. On the other hand, if you are buying investment property that is less than 75% of the value of your primary residence, you could fund the entire amount of...

Please see my question below
Ken It would help to have a little bit more information. Is the $440,000 the value for both the 4 plexs, or is the value on each?Looks like it would be possible to get you down a ways in interest, based on the information provided so far. I might also have a referral for the commercial property - though I doubt...

Middle FICO credit 759, looking get a home mortgage in Seattle
Based on the information provided - the rates at 9:45 am today were between 3.875 and 4.25%, depending upon the exact program used. This is assuming the use of $65,000.00 for down payment, and the avoidance of mortgage insurance.

Does the VA have loans for new construction. (To build a house)
There are some specific guidelines for Minimum Property Requirements in the VA Home manual, particularly in the chapter found:http://www.benefits.va.gov/WARMS/docs/admin26/pamphlet/pam26_7/ch12.docThere is nothing regarding requirement for one or two story home, nor for specific number...

What is the best course of action when an older jumbo loan now qualifies as a conforming or conventional lEnter your question here
If you have not selected one of the previous contacts, or would like another opinion, I am located in Tacoma, and would be happy to review your situation, at no cost or obligation to you.

Can I get an FHA streamline refinance even though I am unemployed? Credit score 720.
Janelle -- What the others have written is correct - as far as it goes.Since you are currently unemployed, FHA has a program where you may receive a forbearance from having to make your mortgage payments for several months, up to one year.To take advantage of this program contact the company to which you...

Are there any lenders that can finance a mortgage with a middle score of 590?
Though you could get financed at that level -- you will be paying a premium on your interest rate. As noted previously, you would be better off to work on fixing your credit a bit -- getting over 620 will help a great deal, and may not take much work. You also should not have to pay to get the information needed...

For HARP refinance, is there a lender out there that can overlook HOA delinquency rates higher than 20%?
Hello,We just received new information on our internal HARP programs today, that will take effect early next week. Under these conditions, it appears that we would be able to assist in this process next week. Please contact me on Tuesday, April 2 -- by email response to this, or by calling me at...

Are streamline FHA refinances possible on investment properties or only owner occupied residences?
If you have an FHA loan, and the lender you are working with will do the "True" streamline - without an appraisal, then you can do an FHA refi - but I would hurry, because as of June 2 -- the mortgage insurance on FHA will be a permanent process - you will have to keep paying it for as long as you have...

Are there any drawbacks to using a Roth IRA account to fund a downpayment?
This would be last resort for down payment funding.

Credit enhancement caused my HARP refi to be denied. I have excellent credit, good income...what's the deal?
Hello, Sorry to hear about your situation. Just dealt with a client who also had a "Credit Enhancement" when Freddie Mac purchased their loan, and due to that, they are also unable to use HARP program. We were unable to get an explanation from Freddie Mac as to what the "Credit...

Can I refinance with a foreclosure 3-4 years ago?
Just finished reviewing such a situation here in Washington. There is possibility of doing this size loan with a 690/700 credit score, as long as the appraisal comes in so the LTV is at 80% or less. We have offices in California, and I will see what I can do about getting one of our licensed mortgage...

Refinancing underwater home without Fannie or Freddie
I unfortunately have to agree that there is not currently a program for you, as you are not in a mortgage that fits the current programs for refinancing. However, I would caution against the option of "walking away" -- not so much because of the credit hit -- but because most lenders will then...

How long do I have to wait to get a home loan after foreclosing on my mortgage?
Hello -- everyone has given you good answers, for the programs they are discussing. Since you are in Everett, and there is a Naval base there, wanted to let you know that there is one other possibility, if you qualify, and that is a VA loan -- for that there is a 2 year wait after the foreclosure completion...

Are there any lenders that will refinance our mortgage after bankruptcy?
You should look for a local, licensed loan officer to assist you with this. Though I am not local, I do know that recently (in past month) Freddie has lowered their bankruptcy wait time to two (2) year from discharge date. Same is true for FHA. Good luck!

Trying to refinance an investment property but debt/income may be an issue. Help!?!?
One thing to be aware of is that most lenders will limit the cash out refinance on an investment property to about 70% - which would limit the amount she can pull out to about $125k. Good luck on getting this process done, with good loan officer, it should be doable.

What is the smart thing to do with a mortgage after divorce?
A cautionary warning to the party who does not get the house. Should the party keeping the house, sometime in the future fail to make the payments, and the lender forecloses -- that foreclosure will be on both parties' credit records, if the house had not been refinanced (just reviewed person in...

Why are credit standards so strict at present? Will loans be easier to get if mortgage rates go up?
Joe has good answer -- and with the advent of "Qualified Mortgages" - as set forth by Congress, and interpreted by the new Consumer Financial Protection Bureau the lenders will be finding themselves on the line for any loans that don't meet the strict criteria being promoted. Look at...