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Michael Glist's Answers

Can I qualify for a mortgage if I have student loan deferment?
Yes you can, If the student loans will be deferred for at least 12 moths after closing on the home loan then they will not count against you, If they will only be deferred for lets say 8 months after closing then they will count against your DTI (Debt To Income) ratio meaning you will not qualify for as much...
What are the benefits of getting a 5/1 ARM now?
An ARM would be best if you are not planning to stay in the home for longer than 5 years, otherwise you would be better off with a fixed rate.
What would be my FHA loan rates with a 726 credit score
Thats a complicated question for the following reasons. How much do you plan to put down? How much is the home worth? Is it a house, townhome, or condo? Are you going to be the only one on the loan? Are you going a 15 or 30 year mortgage term? There is a lot that goes into giving a rate quote so if you would like an...
Should i pay 2 year old collection?
Depending on how much the collection is for you may be required to pay it off regardless of wheather or not it will increase your chances of getting a better rate. But that collection being paid off mostlikly will help you get a better rate as if its paid off your credit score should increase giving you a...
I have less than 5 months job history, can i aplply for loan
Yes you can. The things we are going to look at with you short time on the job is if you were in the same or a similar field/position at your last job or of you were in school for the type of work you do prior to getting this job.
I don't own a home. How can I get a quote without filling out that information?
feel free to give me a call i am more than willing to give you a quote and you dont even have to give me your name if you dont want to.
Do any colorado lenders still offer no doc or siva loans?
You cant even get a payday advance loan with out providing some sort of documentation, so my guess is NO unless its a lender that just doesnt care if they lose money.
Is the loan amount guaranteed by a preapproval?
That would be a question for your lender (the one you chose to get pre-approved through) they would be the ones to let you know how long thier pre-approvals last. If you would like a second opinion than i would be more than happy to assist you.
Options for newly divorced with lower credit
You should be fine with just providing a letter of explanation as to the reson for the lates, unless they are lates on a mortgage then you will have to wait a little while. Feel free to reach out if you have any additional questions.
Better to go fha or conventional with 678 credit?
The rate on FHA will be better but the PMI is higher, when all is said and done the payments will usually be a few dollars apart. Best bet is to go FHA and then build credit up over 720 (tips from your lender are available on how to do this) and then to refinance into a conventional loan lowering your payment...
best place to get a first time homebuyer loan in colorado
We offer a down payment assistance program that gives buyers a 5% Grant (does not have to be repaid) which it a great program. If you do have your own down payment we have a lot of other programs that you can choose from making sure that you make the best decision on your financing needs. Feel free to reach out...
Do I need to pay FHA interest and PMI for 2 months when converting to a conventional loan?
No that is incorrect. It is allowed for lenders to collect 2 months interest however not required. Feel free to reach out to me if you have any questions.
Am I able to use any lender for a HUD purchase?
Yes you can use any lender. I would recommend using someone who is familiar with HUD deals as they are a little different than a regular by owner sale. I'd say talk to a few lenders ask a few questions regarding HUD properties and pick the one you feel is best to assist you.
We are retirees on a fixed income looking to purchase a condo for our son. Can we be approved?
There is more that goes into it than just those two things however sounds like you should have no problem. I would be happy to go over everything with you and get you pre-approved. Feel free to reach out to me to get started or if you have any additional questions/concerns.
FHA streamline without the credit pull?
It is typical for lenders to pull a credit report, they may not use the score to qualify you on a non credit qualifying streamline loan however they will most likely pull it. Also one of the questions on an application is if you've had a bankruptcy in the past 7 years so if you lie on that portion and they...

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