Father can't make payments anymore
Hi Jessie,It does depend on the type of loan. The loss of an income producing spouse is a factor on some loan types to modify the loan terms. If a modification is possible it would lower the payment but certainly would not eliminate it completely. To seek a modification you would want to contact the company...

If I was foreclosed on back in 2010, can I buy a home now?
Hey Walter,They are both right. There is a 99% chance you will not be able to qualify for 3 years, however a few odd circumstances that may apply to you could change that. Even without those circumstances, If you are a vet you ,may qualify this May. Message me if you would like more information.

Will I have to pay FHA PMI for the duration of the loan if I refinance now that the rules have changed?
Most of the aswers here are correct, William from from AZ did not really get it right. If you act now you can beat the June 1st deadline for permenant mortgage insurance.

Is it a good idea to renovate before selling or simply sell as is?
That depends on the work needed, the cost of the work and the value afterwards. I recommend contacting a few Realtors to get their opinion on what would need to be done and what the value difference is between the two conditions. If the spread if value seems large enough to cover the costs, then have 3...

Are FHA loans still a good option for first time home buyers now that PMI charges last the whole loan lifetime?
Yes, they are. This is a great time to buy a home and if your alternative is to rent or use FHA financing you are wise to look at purchasing with FHA. Having said that, there are multiple programs to avoid FHA's high mortgage insurance costs. If you would like to see if you qualify for them or talk through...

Can I apply for a mortgage with my dad?
Hi Nick, Yes you can. There are a few options depending on the amount of down payment you have and if your dad will be living with you, but the short answer is yes. Please call or email me if you would like to talk specifics 651-772-9000 or tim@timswierczek.com

can i buy a house in minnesota before my divorce is finalized
Hi Sarah,The answer to your question depends on if a divorce petition has been filed. Once the divorce is started in the courts is it not legally possible to close on the purchase of a home. The reasons are many but the simplest reason is that until your financial picture is determined through the divorce...

I currently have a conventional loan would I qualify for the new Harp 3.0 program?
Hi Chad, The HARP 3.0 program is only proposed, so its not available yet. If you have a conventional loan then you may qualify for HARP 2.0 as that is for all conventional loans (Fannie & Freddie). Do you know what prevented you from doing a HARP 2.0 loan?Tim Swierczek

lowest rate for 710 credit score and 10% down
Better yet you should ask what loan type is best. Rate can be lower on an ARM than fixed or you could chose a lower rate with lender A, but pay more because they have higher Mortgage insurance. Please go to http://rates.timswierczek.com/ then contact me about my no monthly MI loan options. I think I can save...

how do i get homeoweners insurance for my house and how is the rate determined please?
If you would like a local insurance broker then try my wife Nicole 651-214-9675. She will shop top rated companies for you. Its always a good idea to try several places so shop her against your current company or a national big company. I think you will find she offers a great value.

Backout from purchasing a house contract.
We cannot give you legal advice in this forum. You need to seek an attorney or use your Realtor to properly answer this question. State law does allow you to back out of the purchase agreement within 10 days of receiving the condo docs. If you are not using a Realtor you need to contact an attorney. You also...

Re-fi property as owner-occupied primary residence then moving out and renting it as investment prop within a few weeks of close?
Hi Jennifer,I would not recommend it. This is fraud. You will be signing forms at closing that your not likely to read, but they state that you live in the property and intend to live there for at least 12 months. I'm guessing you have already listed it for rent, but even if you haven't this is fraud. I know it...

Can't put wife on mortgage due to credit but can we use her for down payment
Yes, that will not be a problem as long as it's properly documented as a gift to you. That varies slightly by loan program.

How soon after buying can i apply for a reverse mortgage
You can start the process immediately. The first step is to attend a counseling session designed for reverse mortgages. I can help you with a list of counselors in your area. tim@timswierczek.com

Rd loan providers near Blaine, MN
I office in Saint Paul and do RD loans. Would you like to meet to discuss options?

do you need to be employed for a year before they give you a mortgage
Hi James, the short answer is no. Type of employment and loan type do affect mortgage eligibility. The main issue would usually not be how long you have been employed, but rather how stable your income is. Salary and hourly income is considered more stable than commission or bonus income and so your...

How much can I qualify for?
Shawn is correct. Based on your income you will likely not have an issue with qualifying payment wise as long as your debt is in line with your income. You may find you are limited by your down payment, more than you income as that would justify a payment of $2250, a housing ratio of 31% of your gross income.

Can I be approved on a house with only less than 6 months at current job?
The exact answer depends on the nature of your employment and the loan type. Generally you can buy with less than 6 months on the job if you have stable full time employment. Please call me if you would like to talk through your specifics 651-772-9000.

Amount down
I think the answer you're looking for is 3% down for a conventional loan with PMI, but 20% down to have no PMI. The catch is there are many programs and it is possible depending on the loan program and circumstances to get no money down. Also, there are ways to buy out the PMI even with less than 20% down to...

I am a disabled veteran interested in buying a $200k home. I receive SSD and work with 500+score
Hi Tom,Thank you for your service. I would love to assist you in getting into a home and I'm a big fan of those like yourself that have sacrificed for our Country. May I suggest we talk and I can answer your questions? It appears you may need some help. I can be reached at six-five-one seven 22 nine thousand...