will i quality for reverse mortage
Clara,To add to what has been stated, the minimum age is 62 years. Also, it is very important to understand the advantages and disadvantages clearly before proceeding. I hope this helps....

Is it customary to ask seller of the home to help us with closing costs?
Yes, have your Realtor ask for a seller concession. This should help you cover some of the closing cost that you need help with.Thanks,Mel

Open house, pre-approval
Yes you can, the pre-approval letter will help your Realtor place an offer on a home when you find the one you like.

How long does it take to get a pre-approval letter?
Kathy,I can get you a pre-qualification letter within a couple of hours. My company is licensed in every state and therefore we can offer you a loan. Please give me a call so that I can pre-qualify you today.Mel Smith845-290-3319

How much time to apply for a loan after escrow closes?
Getting pre-approved should not be a problem for you. In fact, I have system that helps you find the best rate within minutes. Also, feel free to call if you need your questions answered.www.LendersGreen.com

question how much do we need to put down with a 780 credit score?
After considering your question, I believe the answer is yes. It seems that you have made good financial decisions. If all the numbers come in good, the only other thing you will need is a letter of explanation. That is often required when you are purchasing a primary home and you currently have a property.

Help..I'd like to refinance my current mortgage for a better rate..
I would like to assist you with getting this accomplished. My office is not that far from you. Give me a call.Mel Smithwww.LendersGreen.com845-290-3319

i'm am looking to refinance with cash out & closing costs wrapped into the loan,also fannie mae home style renovation program
You can certainly accomplish this and now is a great time. Rates are really low and you can save a lot of money. I can assist you with this matter if you need advise or further guidance.Mel Smith845-290-3319

Fannie Mae Closing cost/ Appliance incentive special
I would suggest that you make the needed adjustments now. It is very important that you get all the benefits possible for your purchase. I would make sure to pose that question to your current financial source right away. Try to save as much money as possible.

Will I qualify for the FHA loans?
Without seeing the actual numbers, it is rather difficult to make the call. However, I recently closed a deal with a high debt ratio. However, I always encourage my clients to keep their loan affordable. If you would like for me to go over the numbers with you, I would be happy to assist. Mel...

Do I have to wait for the purchase contract to apply for a mortgage loan?
You do not have to wait for the contract to apply. You should be able to apply right away. If you have any questions or concerns, you can give me a call. Mel Smith---845-290-3319

mike
The mortgage rate is the rate of interest paid on the mortgage loan. Expressed as a percentage.The APR formula combines a loan's interest costs with other fees charged by a lender over the life of the loan, and expresses them as a yearly percentage. The APR is therefore a better reflection of the...

Which Credit Score?
The middle score is used by most Banks.

How long do I have after escrow opens to apply for a loan.
I think you will have sufficient time to accomplish your goal. I would advise that you work with a Loan Officer that is accurate, yet swift. It is very important that you do not lose any time during the process.Mel845-290-3319

What can i do with a 602 credit score?
A 620 is the requirement in the lending environment that we have now. I have some Lenders that will give you a loan with the 602. I would advise that you figure out all 3 of your credit scores. Transunion, Equifax, Experian-- because 602 may or may not be your middle score. The middle score will be the...

Can I qualify for an FHA loan with a state tax lien?
You will need to resolve this matter before you can close on the loan.

My ARM is resetting, I have equity and good credit, should I refinace?
I would carefully consider all options. Then I would make a decision that help you to have a secure loan. Rates are really low right now, and it would be advantageous to lock in a fixed rate.Mel Smith- 845-290-3319

we are a retired couple .. we own a 2 family house and rented to my 2 sons.. 5 years ago we refinance and got a 5arm the rates are about to go up and since we do not work our banks are not really helping us. i would love to sell the house to our kids but theyre credit its not that good. is there anything we can do ?? if the rates go up we wont be able to afford the house..
There are few options that come to mind. However, this would involve a few more questions being answered. I would love to take a look at this for you.Mel Smith 845-290-3319

what is the difference
Real Estate Mortgage is secured by real estate. Collateral Mortgage can be backed by anything the lender prescribes as valuable.

Looking for a Commercial mortgage for 25 years fot under 6.5 % ?????
This sounds very possible with my lenders. Give me a call to discuss the details.Mel- 845-290-3319