Paying hte backup lender

I've applied and been approved by two lenders. I've selected one as a primary, and the other as a backup, and intend to inform the backup today. The backup lender is a correspondent lender. Both loan of...

arm 5/1 rate

I am trying to find mortgage rate online. I tried different condition. What puzzles me is with credit score 710-719 it gives best rate 2.875%. With other credit score but same other condition such as l...

Funding from two different banks for one house?

My current loan is 80/11/9 from bank of the west. the bank gave us loan commitment for $404,000. but the other 9% totaling 45,000 is unsure until coming Tuesday or Wednesday and my loan contingency is...

How much time to apply for a loan after escrow opens?

We are buying our first home and will have an accepted (counter)offer and escrow opened by the end of this week. How long do I have after escrow opens to apply for a loan? My problem is that I have to t...

Missouri

When a primary residence ceases to be primary

We have refinanced our property 7 years ago and used it as our primary residence ever since. Now, we are moving but we are not intending to sell, we will rent it out. Do we have to refinance (and get wo...

Investment Property Loans

I'm a small-time real estate investor and was wondering if anyone had any ideas how I could get financing for investment properties above 80% LTV. I have a few properties now but looking for increased l...

How much is my house worth today?

I am considering a relocation to a bigger spot. I want to be paying around the same amount that I am paying now. I know that more house, means more money - but, I am hoping that the equity in my house w...

Minimum downpayment for an owner occupied triplex?

How much I would have to put down on an owner occupied triplex if I was going to live in one of the units.There are currently tenants in one unit, I would live in another, and the third unit apparently ...

Refi undwerwater home

We owe 109000 on our home and it appraised last week for 106000. We are not a fanny or freddy mortgage. We currently have 12% interest rate and want to reduce our payment. Would like to refi without...

I have had steady employment except when I took a break from work to foc...

Wholesale rate loans?

What are they? How do they compare with "regular" loans? A house I had been eyeing for a while just came back on the market because the escrow did not get funded. How do loans and their rates/fees real...

Freddie and Fannie. Your opinion?

Since the Feds announced that both Freddie and Fannie were going into conservatorship, what do YOU think will happen to the industry? Is this a good move for the taxpayer, or has someone very high up j...

arm 5/1 rate

I am trying to find mortgage rate online. I tried different condition. What puzzles me is with credit score 710-719 it gives best rate 2.875%. With other credit score but same other condition such as l...

Pro's & Cons of 15 yrs fixed vs 30 yrs fixed?

Assume you can afford both. What are the pro's and cons? What is the mindset on this subject? It looks like nobody wants to go with 15.