Advantage of a early/mid/late month close?
Congratulations on your purchase- That's exciting ! There aren't any real advantages to the specific closing date. As far as the length of the loan- It would be in your best financial interest to go with the shortest term that is affordable to you. The shorter the term- the lower the interest...

Here is my questionCan I get a 20,000 - 25,000 dollar personal loan with a credit score of 660-670 and an income of 1,300.00? I currently have 600-700 showing as my revolving debit amount on my credit statements.
Jeremy, Are you a member of a credit union ? If not, it is good idea to develop that relationship now and in the future you will have someone in your corner that can assist you in times like these.Best of luck-

FHA loan refinancing with FHA streamline worth it ???
Good Afternoon and Thank You for your question.There are several factors to consider when refinancing. Cost- Benefit- Goals of the loan etc. Depending on your lender, you can usually have the 1st couple of mortgage payments waived and that can weigh into your savings. Also- your up-front MIP and your...

Do 80/20 loans still exist? I have an 832 credit score. Any other options to avoid PMI in Texas?
That is an excellent question. 80/20 loans are all but extinct to my knowledge, however there are other options out there to avoid paying PMI. There is something that is called LPMI which is lender paid mortgage insurance. It is available on certain loan scenarios but would require you taking a little...

Hcan i get a first time homebuyer loan for property in a flood plain?
Hello El Dorado Kansas ! I don't know if selecting your 1st home in a flood plain is the best move.... Are you considering any other areas or homes that are not in this flood plain ?Best of luck and be sure to consider all of your options before making a decision. Congratulations on that decision to be a...

kansas
Overland Park, Kansas. It's beautiful out there ! What is your question or situation Kansas ?

My Credit is 650 and my fiances is 600 is there any hope in getting a loan for 218.000?
Hi Heather- I presume that you are looking into this because you have decided to purchase a home, is that correct ? If so- Congratulations ! There is more than hope Heather- There are a few options depending on your exact circumstances. Are you a 1st time home buyer ? I would look into your household...

Refinancing a USDA Mortgage
Congratulations on your promotions and pay raises ! Your income will certainly be a factor. The issue with refinancing a USDA loan is that you typically have to repay a balance that exceeds what you originally borrowed. It is one of the downfalls of having such a loan. I would suggest doing some homework...

What is a non-conforming jumbo loan?
The previous answer is correct, however there are other options that will save you money. Depending on the county that you live in and FHA's loan limit in that county, you could go with an FHA High Balance loan. This will give you access to much lower interest rates (typically 1% lower) and a greater...

REVERSE MORTGAGE
Thank you for your question. Your mortgage balance in relation to the appraised value is typically too close to obtain a traditional reverse mortgage. However, if you have considerable assets or savings they could be utilized to secure your equity and obtain the reverse mortgage that you are...

can you deny a home equity loan without a loan application or credit report?
Thank You for your question Jeff. The answer is No- What could they possibly base their denial or approval on ? There isn't any loan with an application. I hope this answer helps you. Please feel free to contact me directly if you should need any more information.Thank You,Craig S....

i have a loan with countrywide/BofA that is 1.4million, but the home is now worth $850K. What are my refinance options. I am currently paying on an interest only 6.75% note.
David, Your not alone, there is a great percentage of the country that is in your position. It is not your fault and there isn't anyway that you could've seen it coming. You have 2 options that I know of- You can contact Countrywide/BofA and ask for a loan modification. The other option, if...

do you charge the borrower fees for services? I assume you are paid from the lender. please confirm that no fees for credit counseling or credit repair or removal of neg. items,from credit report. also that your lendersdo not apply similar charges.
Hey there Tulsa ! I can only answer for my company- Your only out of pocket expense is for your home appraisal, everything else is added to your mortgage payoff and ammortized. The appraisal fee for a single family residence in Oklahoma is typically $375. I'd like to correspond with you and discuss...

HOA dues in my complex
Thank you for your question. All of the previous answers are correct. I agree, the best advice would be to call and speak with the head of the Home Owners Association and inquire about your dues and find out what the breakdown is and what the money is used for. It could very well be a mis-informed Realtor or...

How to refinance a new Fannie Mae - Freddy Mac backed loan?
I would suggest calling the company that holds the 2nd mortgage and see if they would allow a subordination. This would allow you to get into a lower interest rate on your 1st mortgage and create some monthly savings as well as some payment relief. It would depend on your current equity situation- Just...

Should I lock my rate?
Congratulations on your purchase ! All of the answers previous to mine are excellent. I would suggest weighing your options. If the rate you can lock now makes this new mortgage affordable and you are thrilled to get that rate- Lock it in. However, If your finances are such that you could afford the risk of...