October 8, 2011 No Closing Cost Refi What is the current rate for a 30year fixed NO CLOSING COST refi in Silver Spring Md.
Townhouse. 80% LTV. $400,000 principal. High FICO Score.
Thanks for the quote.
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***Disclaimer***Pricing may be affected by Loan to Value ratio and credit scores. Nothing written is a commitment to lend, we are not responsible for any decisions made based on any opinions given. Rate quotes must be confirmed with your loan officer and their Lock Desk. Other lenders' info is deemed reliable and should be independently verified. Rates and programs are subject to change without notice. All locks must meet program guidelines.
We are looking for a Hard Money lender for new construction on our house of around $180k. We own the property out-right worth at least $60k. Due to illness and medical expenses, our credit is not good, but once we sell our current home, we will have about $40k to put down on our new house. We need to know how this type of loan works. Being new construction, we will have a draw program with the builder. We would like to know if we have to borrow all of the money up front or can we borrow as the draw requires. Please get back to me asap since we may have a buyer for our house. Thanks.
Here\'s my situation: Perfect credit, only debts are car loan and mortgage. My current home is about 50k underwater and stuck at a 7% CDA rate. My fiance and I are expecting a baby the end of this year. We need more space and a better neighborhood. I\'m considering purchasing a new home then walking away from my existing home. Walking away meaning foreclosure since I don\'t think I qualify for a short sale. I could alternatively rent and maybe break even; but that\'s not something I want to risk as renters in my neighborhood could be a risk of not paying and I\'m also worried about expenses that might be coming up on the current house (roof, furnace). Foreclosure is not something I had ever considered until recently. However, I don\'t want to drop $50k of savings (which would be a loan from 401k) in order to cover a deficit from a sale of my home at less than my mortgage amount. That is a huge amount of money to me. My reasoning is although my credit will be destroyed for some years (~7 years?) I will at least still have my money in the bank/investments. And I will have already bought the new home that will suit us for many years down the road.
What do you think?
1.) Is foreclosure ever a \"good\" option?
2.) If I foreclose on a home will there be any federal or MD tax liabilities?
3.) Any other concerns?
4.) Are there other options?
Thank you so much for any advice you can provide.
If a person owes taxes on their 401k and has filed bankruptcy can that tax debt be reduced by distribution? When does the debt have to incur for the IRS to take part in the distribution?
I filed bankruptcy in Oct 2012 and after the bankrtupcy in Jan 2013 i had to get into my 401k to purchase a new home becasue i lost my old one in te bankruptcy. so these questions would help me out alot. Also if you could provide the statutes and codes. I live in TN .
If someone owns land and wants to affixed a manufacture Home into this land, will they have to pay the full consideration (Meaning the land and Manufactured Home) state transfer tax, county transfer tax and the recordation tax? This would be in Maryland.
Example: Land was purchased at $50k (with taxes already paid for) and manufactured home was $150k. the loan amount is $200k....how would i get taxed?
I am looking to build a new home and would like inforamtion of a construction loan, rates, options in mortgage time. Also, can a rate be fixed initially and have one closing? This property is in Maryland, My credit is excellent. loan amount 500000-600000.
We would like to contact a lender for information on construction/perm loan options.
We own 5 acres in Montgomery County. We have purchased plans and have contracted a builder for construction of our new home. We have approximately $100k or more in equity on the land and owe $250k. Our builder has given us a building cost of $640k. Please have someone contact us for more information. and to start the loan process.
I am currently interested in purchasing a landscaping buisness. For approx. 159,000 that is a year round buisness with snow removal and so on. I am wanting to know how hard it will be to get a loan for it. It appears to me to be a very profitable buisness with a lot of buisness contracts and govt.
I am looking to purchase a property in Baltimore City and I need a construction to perm loan. I have 2 other rental properties. I have a mortgage on my current home and a vacation home. I have excellent credit and great earnings history. Are there lendors out there willing to finance such a venture. All in costs are $120K
I have a condo to sell in Bowie MD. The buyer has very, good credit, &150,00 dollars in the bank. and the Bank will not quarantee the loan because other residents in the property have been delinquent in there HOA fees. This condo is paid for and need to use the money to purchase another home...How is that fair that no-one can sell there home because of a few bad apples..We own this out right , and have never been late on HOA ourselves ... Please help me
I am refinancing my loan on my primary home in Montgomery County, MD. My payoff is $291,xxx and I am taking out a mortgage of $292,000 even. I was quoted an estimated transfer tax of 2014.80. Does that seem valid? I have read that the tax is based on the difference of value, not on the loan amount if it is a refi. If I go to closing, and this is just an overestimation or a miscalc, I won't be held responsible for it, will I?
My husband is a veteran, it\'s been a little over 2 years since we had a foreclosed property. Looking to find a Va loan officer to assist with a VA loan. We have 50% saved as down payment for a property of interest. We live in Fort washington area of Maryland. Please assist.
I purchased a condo in MD in 3/2007, Since that time the housing market tanked and the value of the condo is more than less than half of what is owed on the mortgage. To compound the problem, I have a CDA loan that makes refinancing, loan re-modification or applying for federal assistance programs challenging. In addition, the original loan was serviced by Chevy Chase Bank but was subsequently sold to Bogman Inc., then sold to M&T Bank about a year ago.
- I am the sole borrower on the loan, but the title is in both mine & my husband\'s names.
- The interest rate is 6.75%!
- I have not missed a payment and I am not experiencing financial hardship.
My preference is to move and get rid of the property. Obviously since I am upside-down (loan amount $190k and I received my tax accessment which stated the property value at $70k) on the mortgage, selling is a challenge. This was my first home and my plan was to move after a couple years. It\'s been over five years and I need to move.
Can you provide me with any helpful guidance or advice?
I am in the process of purchasing a $975k property. I plan to finance this property with a VA loan with around 5% down. The property is located in Washington, DC. I would like to do a major renovation of the property and have already received a $250k - $300k estimate from a contractor. I would like to receive around that amount to bridge until I can refinance the property. My realtor estimated that with the improvements made, the property should be worth around $1.45m, which would allow me to refinance the property. Do you have any loan options for me? If it is better, I can call to explain my situation. Let me know.
currently have 147K value on home and 1st mortgage amt is $110K..also have a county home repair loan o/s of $5K where home is the collateral. will this effect my rate to refinance? Is refinance better or home equity loan is better? I have refinance about 2.5 yrs ago to a 20 yr loan.
I currently have a 50k HELOC that is at the end of the draw period. I want to close it and open a new one with a different lender for the same 50k credit limit. Are there differences in closing costs for these two scenarios:
1. Close existing line with $0 balance and open new line for 50k.
2. Take all $50k out of existing line prior to closing the account so new line would assume all 50k at opening.
Im a ex green card holder married to American Citizen and Own a property in Indiana that we lived in for seven years.We now currenly live in Australia.
I have a credit score over 800 and we would like to refinance our Town home and also buy property for investment in Indiana and North Carolina.
I need to find a Broker or A Bank that can help us, do you see any Issues ?
Thanks for you help _ BJS
I mike,my question is my fico score is about five hundred,due to family circumstances.i have a house that has about 700,000 in equity.what do you think my chances of getting a equity loan for about 175,000 to pay final bills for my fathers estate.my sister and i make about 90,000.00 a year together.she also has massive credit problems.is there help out there ?
Hello, I had a short sale 5/2011, I purchased a home on a two year land contract and closed both homes the same day. My credit score is low at 620. I have a $46,000 balloon and the property would appraise for at least $120,000. I\\\'ve had steady employment as an RN for 25 yrs and income of 110k/year. I have two credit cards one will be paid off and the other $3800, will be down to $1500 by April. Prior to my shortsale I had late payments because all \\\"loan modification\\\" payments reflected as late. No other late payments and car will be paid off in March.
Do I have to wait until the \\\"two year mark\\\" to apply for a loan? Any suggestions? I\\\'m very concerned that I won\\\'t be able to secure a mortgage. What do you think?
I am searching for a portfolio loan of 171,000 to purchase a live work town home have been pre approved for a residential loan up to 300000.property is over the ratio for residential can put 35-40k down?
Thank you Skip. DTI 75%; credit score 700+; i know it is impossible to get approval to refinance But shall i keep trying to look for someone who will qualify me or i should not bother at all and proceed to plan B ( if there is really a plan B).
I want to buy a 6 unit multi-family building in Michigan as rental property. I heard it has to be commercial loan. Can I get get commercial loan as individual ? I can put 20% down. I don't have landlord experience but my income will be sufficient to cover the mortgage payment. My credit score is between 760-780. Thank you
I have a 583 credit score make 53,045 per year, been on my job since 2003 and have $10,000. for a down payment. I am looking for a home loan around $70,000. I am overwhelmed because I can\'t find anyone in this area that will take the time to help me. I am working to improve my credit score but it is hard. Do you have any advice. I would like to get into something in the next 6 months
Interested in HELOC on rental property. Approx $100K equity. Excellent credit. Are there options based on assessed tax value vs. formal appraisal? If so, would this route speed up the process and bypass appraisal fees?
My husband and I are interested in buying an investment property in DC. I am a US citizen, employed with Morgan Stanley here in Dubai. My husband is an Algerian citizen, and holds a valid G4 visa - also employed at the World Bank Group here in Dubai. We both have solid credit history in the US from before we moved abroad. We both maintain accounts and credit cards in the DC area. We both have foreign-earned income, combined net pa 300k USD. We would be ready to put 25-30% into a 400k condo/property. Is this a loan you could process?
I read the requirements online for this type of loan, but I have found that the information I read and the information I received today are somewhat different. Is there a minimum credit score requirement? Also, how long does this type of refinance loan take to process and close?
Are there any lenders that are currently offering a 90% LTV on Jumbo Construction loans? Im above a 780 credit score. DTI would be just above a 45% but under 50%. Im looking to aquire a lot and construction loan at one settlement. Aqusition + Construction will be around $560-$575K. Thanks!
How can I get a loan to finish a rehab project without hiring a contractor? I am doing the rehab work myself and ran short of funds to finish it as I was using personal funds. This is in Selma, IN. 47383
Does anyone offer a 90% LTV for a contruction loan? I have found several lots (80K -100K) that I am interested in, and talked to a builder who can build what I would like for approx $125 per sq ft. Total Cost would be approximately $250,000 to $300,000. I have enough for 10% down, and some funds for closing cost. But it seems like everyone wants 80% LTV. That with closing cost would be around 70K. Such a bummer, because I strongly feel I can build a better quality new home, for less than most the overpriced junk out there. By the way I have been looking in Ann Arundel and Howard Co. mainly, but also considering parts of Prince Georges Co. The cost of the home would be only about 2 to 2 1/2 times my income, I just don\'t have that much cash lying around. Any help?
I am applying for a mortgage on a condoin DC, have excellent credit and income, plus am putting 20 percent down. I\'m looking for a lender who doesn\'t require additional cash reserves. I\'ve already pulled together $72,000 for downpayment and closing costs. Now bqnk is asking for an additional $16,000 and we need to close by end of month.
Hi Stu. You worked with us on a mortgage back in 2007. We are in the process of relocating to NC for my husbands job and I was hoping you could give me a call around 3:30 as I have a few questions for you.
Thanks, Sarah Berlin 410-215-9272
I am in the process of purchasing an investment Condo unit in Gaithersburg MD. Unfortunately, the condo firm has currently above 15% delinquency rate. I have excellent credit score and may pay down over 30%. I don\'t have any current mortgage and have paid off my principal residence here in Montgomery Village, MD. I have a regular well-paid full-time job with a federal government agency.
Is there any alternative way for me to get a loan for this condo unit? Please call me @240-480-2504 or email me with some suggestions. Thanks,
I have already qualified for a VA loan of up to $270,000.... I am interested in a home that is a short sale and am worried that it will not pass the VA inspection. I am offering $180,000.... the bank may counter... but I don\'t think so. It would be great to get a rehab loan instead... but I do not know how that would work... I would like to have an additional $70,000... Is that possible? Also, I have very little money for a down payment... Mike.
P.S. The waiting is killing me.
I am working with a first time home buyer client on his
primary home search. He is a Foreign national with A2 Visa status and
has about $50,000 saved up for down payment. We are looking for a
single or townhome resident in Northern Virginia within $300,000
budget depending on the amount of loan we get. I was wondering if you have any loan available for this case?
We would like to re-fi our double wide, which sits on 2.267ac., (not rented) a permanent foundation, with a connected sun room and connected two car garage with upstairs room. This mobile has a deed, not a vin. We have excellent credit and are just looking to lower our payments.
Owe 164k, value 150k, home located in IL. Looking for 4.0% or better. Low closing cost, no points. fisco above 700, no late payments. Loan owned by freddie mac, lown has pmi
closing within 30 days.
We have 4 homes. Our home which is worth @525000 and we have a 1st 232,000 and an equity of 36,000. The 2nd home is worth 235000 and has no mortgage it is rented until Jan 2013 at 1700/mnth. We have two more homes that are worth 700,000 and 100,000 the 700,000 home has a 136,000 mortgage that has 7 years and the other has no loans. The rentals on these are roughly 60,000/yr. We plan to sell home #1 and move into home #2 in 2013. We have a great investment opportunity that requires @ $200,000 in cash and we are looking for idea's of how restructure our debt to free up the cash. We have great credit and work income.
Does anyone have a program for self employed people who can verify the business income with bank statements? Also, willing to put 1/3 of price down? Excellent credit history and scores above 750 for both of us. We are looking to buy 45 acres and build later. thank you
I am currently in the prosecc of relocating to Indianapolis, Indiana. I have agreed to purchase my Son's home for him, he has been having a hard time making the payments and has agreed to sell it to me for the amount owed on the property.
The property is located at 7745 Inverness Drive Indianapolis, IN 46237. His first mortgage balance is $60,000 and his 2nd mortgage balance is just below $15,000. Can this be rolled into the loan? And can you help me get it financed and closed with little to no out of pocket expenses?
Pamela J. Harsin
Is there any lenders doing fixed rate 15 to 20 year loans on an investment propery? I own a rental that is free and clear that I would like to take a loan out on but my local lenders are only doing 3-5 year ballon loans.
How do I get my Ex-Husband off the Mortgage..... he is not on the Deed and not on the Title.
* I am having a hard time trying to refinace as 1/2 of my income is residental rental income....I have 3 roommates. Banks don\\\'t like that income even though it is on my tax returns,I have w9s, lease,escrow accounts etc......my room rental business is listed with the State.
Thank You in advance. ! Jodie
Hi Brent, I have seen your posts a number of times in my research. My fiancee lives in MD and was talked into a CDA loan a number of years ago. At this point the house may be 100k underwater so we have no hope of refinance that I know of. I own a home and work in VA. We thought we could just rent her house in MD but no such luck due to the restrictive loan program. I noticed you had a few ideas for other people in similar situations. I look forward to any help you can provide. Best, Evan Lyons
MY HUSBAND HAS A MIDDLE SCORE OF 580 WE ARE LOOKING TO GETA LOAN WITH THAT CREDIT SCORE IS THIS POSIBLE HERE IN MARYALND. WE HAVE TRY MANY PEOPLE AND EVERYONE SAIDS WE NEED AT LEAST A 620 THANK PLEASE LET ME NOW
Hello. I was recently reading your blog, looking for some information on CDA type loans, refinancing when underwater etc.
I'm wondering if you have any information that could help someone in my situation...
I bought my home in Baltimore City MD in 11/2007. It is my first home and was purchased through CDA. My loan rate is 7% and is fixed through that program.
I wasn't expecting to stay in my home for more than a few years so the rate did not matter to me at the time. Then everything happened with the housing market and I'm not going to be able to sell my home any time soon.
I'm looking to improve my situation...a lower rate, a possible adjustment of principal if that's possible. Primarily, I just want a lower rate. A move from 7% to something close to the current market rate should save me a couple hundred a month.
I'm sort of stuck, as far as I can tell. My loan amount is almost 120k and I think my house is probably worth somewhere around 80k or even less...it's hard to tell as nothing is selling in my area except the occasional foreclosed home. The federal programs I've seen can not help me as I'm not Fannie or Freddie backed.
I have excellent credit and employment history. I'm not behind on my mortgage. I bought a modest home that I could afford, but things have gotten a little tighter over the years with additional expenses. I just want to know if there's anything out there for someone in my situation to help with principal adjustment or refi.
Thanks for any help you can provide!
Hello I just received my approval through the HPAP program. I am now in need of a lender who is willing to work with me through this process. Are there particular lenders who work more exclusivly with this program.
I’m EU citizen and I leave in London.
I only got a temporary job, but I want to buy a house, which I’ll be renting and paying off the mortgage. Is it possible to get mortgage from somewhere, if i only put down 10% deposit?
My bank wasn’t really helpful, they said I need a permanent job and I can’t get a mortgage otherwise.
Is it possible to get a mortgage and buy a home without a down payment. It would be my first home. I dont have perfect credit. The thing is, is i dont even know where to start. I have epilepsy and have a large (untrained) dog that i use for a service dog. Im sick of the whole trailer park and apartment scene and its harder than heck to find somewhere to live that will let me have a large dog. Somehow she knows that im going to have a seizure before i do. Now that im driving again it is vital that i have her. She is a necessity not a luxury. Im desperate to own my own home. Ive heard that there are grants out there for people like me. However i have no knowledge on how to access the paperwork to apply for these. Do you have any info on that? Yours tips would be greatly appreciated.
Hi I was wondering if there is any loan out for a construction to permanent mortgage. We have 1 and 1/2 arce of land and we really want to build. The land is free and clear. Not sure of the credit scores but they are not in the 700's. I also wanted to know if there FHA loans for construction as well Thanks.
I live in Mitchell, SD. I currently have owned my home for about a year and a half. I recently have been looking elsewhere career wise, and if I find a job soon I would be moving. Would it be smarter to sell my house or rent-out? Would it hurt my credit to sell already? How much would I owe the bank if I sold already?
Any information on the matter would be great
I am in the military and am stationed at Fort Stewart, GA. I am being moved back to Mississippi in the summer. I own a home in Richmond Hill, GA that is under contract to be sold to a buyer with a contingency that he sells his home, (which has been a rental property for the last 7 months. His bank says that he will be approved for a my home regardless of a sell in 5 more months. 12 month rental is their policy) Now I have found a great deal on a home in Mississippi. (buying price is 234,000 with a current appraisal of 360,000. It has a seperate guest house that has been rented out for the past 2 years at 650/monthly. But I am having trouble getting a loan for it becasue I have not closed on mine in Georgia yet. I do not want to miss out on this house. Please give some advice to qualify for this home. My credit score is 780.
My credit score is pretty good-high 700\\\\\\\'s. My husbands is mid 600\\\\\\\'s. We have been working on improving his score, i added him to some of my good credit cards, he is paying off medical debt and last week he got a $1000 loan from the bank to show payment history for a personal loan. He does have a released tax lein from a few years ago on his report as well as some late payments. We plan to sell our current home in the next few months which i have financed on my own and want to buy a new home later this year jointly so we can use both our income on the loan. Chase informed me i can add him to the current home loan, if he gets approved. Should we send in an application for him to be added to the current loan if we plan on selling this home in the next few months? Would the benefits of adding him right before we sell be greater than the hit his score will take just by being ran for a mortgage and then ran again for a mortgage later this year when we buy a new home?
We live in Maryland and have a Fixed rate 20 year Mortgage at 5%. We would consider refinancing at a lower rate if very low closing costs are available. We have a sterling credit rating and thus are low risk. Do you have any offerings with low closing costs?
Can I refinance a CDA loan. Been in the house for 3 plus years, have a 6.2 interest rate and would like to refinance. I'm a school teacher and it would be nice to have a lower mortgage payment. The house is underwater by 50,000, have never missed a mortgage payment and plan on keeping the house.
Can you please tell me if there are still interest only mortgage loans? What are the interest rates for a 10/1 Arm? My husband and I are downsizing and am purchasing a short sale for $340K in Manassas. We would be looking for a loan in the amount of $272K.
Thanks for your assistance!
Hi, We are considering purchasing a foreclosure in annapolis MD. Purchase price $630k. We are above the conforming rate of $560 and still require money to renovate. Do you have options that include renovation? We have excellent credit. We are looking to put 10% down. thanks, Melissa Wittke
I live in VA and in the process of refinancing my current mortgage. Nothing on the loan will change as far as owners or co-signers. My GFE states in Block #8 that I am required to pay a transfer tax. The company I'm going through said I may or may not have to pay it, that it was up to the state I live in. Do you know if VA requires this tax for a refinance?
Hello, we will be in the market to refinance but we need to finish the construction on our property now. We had a fire back in 2010 and we were underinsuraned. We are not behind on our payment but we have ran out of money to complete the contruction. We are about $55,000 short of completing the project. The least we would need is $45,000. I can send you copies of some of the receipts that we have already purchased.
Keith and Lorraine Ross
I have 1st mortgage $73500 (fixed 5.5) and home equity line credit of $25,000 (variable interest). Considering refinance. Looking at lower interest rate. I have 10 yrs on lst and 9 years on equity (with option). How do I benefit from combining both?
Looking to refinance out of a hard money loan and place permanent financing on a two unit investment property in 20001 zip. Gross is a fully documented $14k per month and I have fair credit. I'm looking for LTV of at least 60%. No second mortgage on this property. Hard money loan term expires in July.
I have a customer who wants to purchase 6 unit investment property in Atlanta, Ga. Is there an FHA loan that only requires 15% down payment that we can apply for? All 6 units are fully occupied. Building is approx. 6 years old. Purchase price $330,000. Fico score 770.
hello, just filled out online info, have home valued through appraisal at 38,000 would like to leave the table with at least 30,000 for home improvements and small debt reduction. The home is free and clear and all other bills are less than 400/month.
I would like to fast track this loan. what are the options
Curent loan with Chase(held by Fanie mae), 220K -Ist 21K IInd, 240K(appraisal) 6.25 %,Escrow waived, loan self serviced by chase , 760+, 72k ( per year). Refinance offer by CHase 4.25 with 1/2 point + 2.8k closing cost under HARP, IInd loan Heloc to be subortinated only after reducing limit to 10k. Should I accept it in current market when rates are falling. Can any one help with it for better rates or should accept it as the best.
We have an investment condo on Brickell in Miami. Bought in 2006, 20% down on a 40 year old interest only loan through BoA Fanny Mae at a 6% interest rate.
The purchase price was 285000, current values are under 200000.
Our tenant pays 1400 which covers the mortgage but not the $323 HOA monthly fee.
We would like to refinance but BoA and Quickens wont do it as they say that Fanny Mae has a blockade on condo refinance. What can we do in order to get a shorter loan at a much lower interest rate? Are there any other lenders that would be interested?
We are considering building a house and are interested in the construction to permanent loan option. Are there any lenders that don't require at least 20% down payment for these loans? Our income and credit scores are both very good, but it would take us a while to save up 20% for a down payment. We're hoping to find a lender that only requires a 5% down payment. Thanks for your time!
Hi, I am buying a new construction home in Maryland, builder had agreed to give certain amount to closing cost. Now I am in final stage of settling and looking at the HUD statement I see they have included the State Transfer taxes that seller pays for the First time home buyers in the credit towards closing that we had agreed upon, is that right? After some research I learned the seller pays the state transfer taxes for first time home buyers in maryland, so can the builder claim this money towards the credit they had promised? Please help me , asap !!!
I refinanced with Choice Finance (Craig Coleman) many years back and I am looking at refinancing again. I have a $345,000 outstanding balance (home original price is $459,900 in 2006) at 5.75% and am thinking of a 15 or 20-year loan with 0 points. I have an 800+ credit rating. What is the current mortgage rate in HarfordCounty? Can get an estimate of closing costs?
We are a church planning to purchase land and build our church in Silver Spring. Please let us know the requirements to get qualified for e construction to permanent loan of close a a million dollars. My name is Seme Ndzana, member of the church building committee. My email is email@example.com
Hello! My hubby and I are looking to build our dream home in Harford County MD. We have great credit and a great income. We just haven\'t saved money for a down payment. We have our VA certificate and were really hoping to find a bank that would allow us a no down payment construction loan. I know it is a long shot but if this isn\'t possible maybe some other ideas to minimize the out of pocket expenses???
If I want to refinance a property, what criteria can be used to determine or verify that it is my primary residence. Also, any advise on selecting which lenders to talk to? Historically, I\'ve stuck with the bank that I initially had the loan with (assuming it would be less hassle) and am feeling like it\'s time to look elsewhere, but no idea where to start? Don\'t want to talk to too many lenders if I can help it, but wondering if I might find better terms and a better fit by going elsewhere. Oh, my whole goal is to lower monthly costs. thanks!
Hi, I live and work in South Africa, I am looking to buy a second house in Atlanta Georgia area, I have a 20% down payment readily available. I will be repaying the loan with money earned in South Africa. I have a B1/B2 visa still valid to 2018. The loan amount is 200000 use. Please advise if you can help
We are thinking about locking tomorrow so quick question. Is it better to keep money in bank accounts or throw it all at credit card? My husband has a high balance on his, Like 9200 with a 9500 limit. Its costing us a point with the chip loan we are using. I could throw like 500 now and next wk on it But would that help his credit enough to make a difference? My score is 722 his is 710. We are scheduled to close in late feb. also, the theory of buying down the rate...that something to consider if we are only staying in the house for less than 5 yrs?
My credit score is in the 500s (as the result of acquiring medical debt while a new employee with no benefits and pay). I am now making $72,500k annually, have job security and I receive rent on an investment property that I own free & clear. Also, I don\\\'t have a lot of debt - my mortgage & $900 credit card balance. My car, which is paid off, requires approximately 3k in repairs and I need about $2,500 in home repairs. I need to get the home repairs so that I can rent it out to Johns Hopkins Hospital Residents/Graduate Students, etc. My credit union only looked at my credit score; not my monthly rental. I would like to know if you service people with similar circumstances. Thank You
HELLO MY NAME IS EBONEE BAKER AND I WAS TRYING TO BUY A HOUSE I WANTED TO SPEAK WITH A LOAN OFFICER BECAUSE I HAVE A FEW QUESTIONS REGARDING GETTING FINANCED THROUGH CDA CAN SOMEONE GET BACK WITH ME I CAN BE REACHED AT 410-497-2903 THANKS
I would like to refinance both my 1st and 2nd mortgage totaling 433,000. I am Carroll County MD so could I go conventional since it is below the Jumbo threshold. Median Credit Score 655, about a 96.5% ltv, would like to finance 30 years to lower payments and apply monthly saving to paying off high interest cards. What options exist? Would PMI have to be paid. I really don\'t have a ton of cash to bring to closing
purchased home in city of fairfax may 2010 with va loan....225,000 5%(SHORT SALE). In Sept 2011 I refianced with VA for 265,000 at 4.5% taking some money out (appraisel was at 365,000). I am looking into VA Interest rate reduction loan. Any info would be appreciated. I have the funding fee waived and am interested in the 6000 energy improvements.
Your website says there is no closing cost to refinance in Washington DC. Is this correct. I\'d like to refinance my property recently appraised at 658k(11/2011) outstanding mortgage $546k(1st $371K + 2nd $175K) what would the rate be and what would the cost be. Thanks.
My husband and I are planning to buy our first home. We will be using his credit and income. There are nine collection accounts on his credit report that we are going to pay off in the next couple of days. That will leave 2 collections that will remain on his credit report until we pay them in a few months. I tried to get a pay for delete with the collection agencies but they said no. These accounts will be paid in full. Will this better our chance to get approved for a loan? He makes a decent income. We have a car loan and 2 credit cards. We got a small personal loan from our bank to pay for the debts. Any advice will be appreciated.
I like to do 15 yr fixed ..currently I have 30 yrs...My home mortgage is $185,000 with home value of $275000. I am located in Lathrop California 95330. I am looking for best interest rates with zero fee refinance.
Hello. I am in the process of trying to buy a house in DE. I already found a house, and am under contract. The agreed sale price is $115,000. The previous mortgage company I was dealing with screwed me, after I already put money up for inspections and attorneys. My closing date is scheduled for 12/15. I have a credit score in the 635-645 range, which I was told is more then enough for a FHA loan. Can Choice Finance help me with my situation, and would we be able to meet my closing date. I already changed closing dates once.
My husband and I are looking to relocate to Delaware in late January to early February; We are currently living in Ohio. We would love to purchase a home rather than rent when we do move. We would be only putting the home in my husband's name due to my bad credit history. Now, his credit isn't where is should be either and that is where my main question lies. As of right now his highest credit score is 570. I have read that we would need at least a 640 to purchase a home. Can a loan officer help show us what we can do to help raise his score to get it where it needs to be or do we need to go to a credit agency? Also, are there loans that we can get with is low credit score? Any help on this would be great. Thanks
I have a VA 4.74% VA loan with a bal. of 186,400. In Feb. 2010 I filed Ch 7 BK and was discharged in July 2010. My credit score is about 625 and my house is underwater at $159,000 value according to the agent who sold these properties. Since I went BK, Citimortgage is not not reporting my payments and basically wrote off the loan. My attorney failed to get the reaffirmation form and that's why my credit report shows 0 bal. due and 0 payments since Feb. 2010. Should I refi and if so can I avoid increasing my bal. other than by adding the VA funding fee which I know I have to pay?
We are interested in doing a Streamline Re-finance of our FHA loan that is currently with another lender. We do not want to obtain cash back, just to see about lowering our current monthly payments. Our current rate is 7.25% with a balance of $164.042.000. We have had this loan with this lender since11/2007 and our history shows no late payments. This is a fixed interest rate loan and we would want to stay with a fixed rate.
My property was appraised at 700,000, I need to refinance my loan of 502,000. The property is located in Montgomery County, MD, single family house built in Dec 2009. What is the best 30 year fixed refi rate I can get with no points?
I own and rent out a condo in DC, which I am looking to refinance. I have only found one lender which advertises even the possibility of refinancing an investment property. Can you provide me with any information on where to look for competitive rates for investment property refinance? I have excellent (800+) credit, and the ability to pay down the existing mortgage to achieve 75% LTV. Thanks.
Could you tell me if there is financing available on doublewides on perm. foundation on 15 acres in Va. We only have a credit score of 654. We would like to do a fha cash out loan to pay off some credit cards and home improvements. Please advise.
What state or county (AA) fees and closing costs can be waived/reduced/avoided in a private sale between parents and children? Parents will be holding the mortgage and children will use it as an investment property?
I am an employee of the PG County public school and seeking additional information on the teacher next door program; additionally would like to be pre-qualified for the HUD program. I can be optionally reached at (301) 352-xxxx
I am looking to see if I can secure a USDA for about $325k, my top score right now is a 656, I make 75k and another 8k in child support and my monthly costs are about 2500 with 2 cars, rent & cc pmts, I have at least 2 yrs clean payment history,and a judgment for $300 which I can clear, but my utilization is high which Im getting down to about 30% in the next 4 wks. My savings went on medical bills so my options for a down pmt are limited. The property is in 23141. 6 people in house, fiancee makes about 28k, 3 kids under 18, and 21yr old (not working). Can you guys offer any insight? Thanks.
Was just curious on what the current fixed rates were for a va mortgage loan. I'm in Ohio and currently have a 4.75% interest rate and was wondering if it would be worth it to refinance. I was told that there may be no closing costs with a va mortgage loan? Thanks for any info, Andrew Skipworth
Eric--we are interested in a loan to construct an addition to our primary residence. Is this a "construction" loan or a "renovation" loan? My husband and I have excellent credit. How hard it is to be approved for this type of loan.
I am looking for a Home equity loan. 90%LTV. My home is valued at $135,000.
My Fico score is 729
Do you have home equity loan for 10years, and if you do what are the closing cost (if any) and rate?
I\'m looking for $55,000-$60,000 loan.
Do you or anyone you know finance Apartment buildings? I am an investor looking to purchase a 10 -25 unit building with existing tennants. I need to get with a lender or bank and get my financing situated. thanks for your help
My mortgage was $1,657.73 a month and that includes my insurances and taxes paid out of it as I am on the road all the time working and racing. Fannie Mae a year ago bought the mortgage on October 1st, 2010. I received my monthly bill and it now has gone up to $1,893.52. I checked with the town of Waxhaw, NC and my taxes have not gone up and also with Union County and those taxes have not gone up. My home insurance went up $100.00 more. My Escrow is showing now from $292.00 to $593.00 a month. I am a bit puzzled here. Serterus which handles the collecting the mortgage says that is because they under estimated escrow projection and had to raise it. I have never received a letter are any intent of this. Is this legal and should I look to re-finance my home? The County Tax Office said something does not sound right.
I am looking for a construct to perm loan to build a log home in Carol County MD. I need a loan of about 250-270 K Am able to put down 10% This includes cost of land. Have excellent credit rating. Can you help?
Does anyone have a program that allows the number of unit owners who are more than 30 days late on their condo dues, to exceed 15%?? If so, what is the minimum down payment requirement. Is it a portfolio product. HELP!
I would like to use a HELOC to pay off some collections, which would drastically improve my credit. Unfortunately, the banks and mortgage companies I have spoken to all say the collections need to be satisfied before they can give me a HELOC. Now what? If I had the money, I wouldn't need a HELOC.
Can I streamline refinace my non-owner occupied condo? If so, what would my rate be for a 15yr-fixed loan with 1pt? My credit scores are above 730, I have never been late on any of my payments, and the condo fee delinquency rate is less than 15%. The property is located in Howard County, MD.