is there any time restrictions on work history for a FHA loan?
All lenders like to see a 2 year work history. If you are going from a w-2 employee to self employed they want a track record but it all depends on your situation. Just out of school unemployed?
80-15-5 Loan in NJ?
Most 2nd mortgages will not go that high of loan to value anymore. There are lenders that can go 95% with no pmi and portfolio lenders that can go to 90% with no pmi. There are a few options depending on your credit and financial situation.
Quoted 4.75% 30yr fixed FHA loan, 5.795 APR. Have avg 670 credit score. Is this a decent quote?
I'm not sure which option you went for the lender paid or borrower paid. I do not have all the details of the loan (such as cash out, no cash out, loan amount state you are located, etc.) but I can tell you can get a rate of 4.25% on an FHA 30 Yr with your score. But it depends on a few factors. Let me know if you...
I have 791 credit score and 30% down payment.
It could be a little high depends on what option you took lender paid or borrower paid, what type of home it is and where the property is located. I would advise you shop your loan again and see. I do not have enough information to be sure.
Jumbo loan question?
it depends on the LTV but rates will be in the range of 3% to low 4%.
Would to like to refinance with an FHA Streamline loan
Yes you can do a streamline without an appraisal. But you must pay for costs outside the new loan or get a lender credit for them. What is your credit score that is a big factor?
Will owning a rental home hurt my mortgage application for a vacation home?
Conventional Lenders look at rental income off what you claim on the tax returns as income minus expenses. Sometimes it can be a wash other times they may count some of the payment or the full amount. If you make enough income to cover both mortgages it would not be an issue. As long as you have the credit and...
FHA or Conventional loan with 5% down?
It depends on how long you want to stay in the home. If property values are good and want to live there for longer than 5 years I would go with the conventional loan. Im not sure what your credit score is but I have a lender that also does 5% down conventional loan with no PMI per month. Let me know 614.442.9900
who can I get a loan from for a credit score between 600 and 619?
I use a lender American Financial that does FHA down to a 600 score. You need to present the best possible picture for the underwriter to approve your file. This will be a manual review. You need to also look at how much you have in assets and debt ratio. Rates are still very competitive at that score. Let me know...
ARE THERE STILL LENDERS THAT USE ALTERNATIVE CREDIT FOR PEOPLE WITH NO CREDIT SCORES
Yes FHA, you need to show a good pay record with your rent, utility bills, personal loans with cancelled checks, etc. You need to find 3 accounts that you can provide and make sure that your income is line for FHA guidelines. Let me know if you need more information.