You have not asked any questions.
May
7
2012
Hello – Transfer taxes in OC Maryland are determined based on the Purchase Price of the unit. The Transfer Tax in Worcester County is .50% of the sales price as is the State transfer tax so between the county and state transfer taxes you are paying 1% of the sales price of the unit. If this is used as your primary residence for 7 out of 12 months, than the first $50,000 of sales price is exempt from the county transfer tax. There is also another tax called recordation tax. This is $6.60 per $1000 of sales price.
Rates are a tougher question as they will vary depending on the size of the loan, your credit score, if this is a primary residence, vacation home, or investment property, and if this is a low rise condo versus a high rise building. We would need some additional info to properly quote you rates. I invite you to call me at 301.517.5434 to discuss further.
Eric Strasser – NMLSR#111971
Apr
19
2012
Unfortunately you will most probably continue to have the same issue getting a traditional lender to allow you to use the “boarder Income” unless you can show that the boarders are there as in-home care providers for a disabled family member. See the following guideline taken from the eFanniemae.com seller guide for 2012:
“When a borrower with disabilities receives rental income from a live-in personal assistant,
whether or not that individual is a relative of the borrower, the rental payments can be
considered as acceptable stable income, in an amount up to 30% of the total gross income
that is used to qualify the borrower for the mortgage. Personal assistants typically are paid by
Medicaid Waiver funds and include room and board, from which rental payments are made to
the borrower.”
Hope this is helpful.
Eric Strasser NMLSR#111971
Mar
22
2012
Hi there – There are many alternatives to qualifying for a home. There are 1st time homebuyer programs, no down payment programs for certain geographic areas, low down payment programs with and with out mortgage insurance, as well as lower terms for larger down payments. By completing our online application, I’ll review your income, assets, and credit to share with you what programs fit your needs and how much home you qualify to purchase. The online application can be accessed at http://www.suntrustmortgage.com/estrasser by clicking on the apply online link. If you have any questions in the meantime, please call me at 301.517.5434.
Eric A. Strasser
SunTrust Mortgage, Inc.
NMLSR# 111971
Mar
1
2012
It is the County Land Records office that will determine this for your particular transaction. The tax in question on a refinance is .3334% of your loan amount.
The different counties view the need to charge this differently. It is only charged if your new lender is different than the owner of the current loan being refinanced. I understand that Fairfax County for example interprets this literally. If Bank X is on your Note and Deed of Trust as the Lender and your are again going through that same company for the refinance, on the face of it you would not be obligated to pay this tax because the old lender and new lender are the same.
However, behind the scenes, your lender might have sold the loan to Fannie Mae. Fannie Mae is now the owner of the current loan. Regardless what institution you obtain your new financing from, you will have to pay this tax because the lender is not Fannie Mae on the new loan. Fannie Mae does not lend directly to consumers.
I further understand that not all Virginia counties have adopted this interpretation so in some counties as long as the old lender on the Note/Deed of Trust is the same as the name on the new lender Note/Deed of Trust, then you might not have to pay. It comes down to your county land records office. Your settlement agent is the best source to see if you will be charged this or not. As a loan officer, I would disclose to you this taxes being charged as a worst case scenario. You won’t know 100% if it will or won’t be charged until your new loan is recorded in the county records.
If I can share any further information or offer you a comparison on the terms you are being offered on your Virginia Refinance, please give me a call at 301.517.5434.
Eric Strasser, NMLSR#111971
SunTrust Mortgage, Inc.
Jan
18
2012
Tejas – thank you for your question and for reaching out to me directly. As we discussed, in Montgomery County Maryland it is normal and customary to split transfer taxes 50/50 between the borrower and seller unless negotiated differently in the contract. As a 1st time homebuyer, your 50% share of the state transfer tax (.25% of the sales price) is waived by the state. If the contract was written with you the buyer paying 100% of transfer taxes as many builder contracts are, then the credit you are receiving from the builder will cover all the remaining transfer and recordation fees attributed to both you and the seller on the HUD1. It comes down to the way the contract was written and it is the settlement agents responsibility to make sure that your credit is applied in accordance with the written contract. Good Luck today with your settlement. Should you ever need any mortgage help in the future, please give me a call.
Eric Strasser
NMLSR# 111971
301.517.5434
Jan
17
2012
Dear Hartford County – Craig Coleman retired from Choice Finance at least 4 years ago if not a little longer. Rates are much lower than your 5.75% currently. 30 year rates are just under 4% with 0 points and 15 year rates are in the mid 3% range. We would need to learn more about your specific situation to determine where your rate options are. My lender fees are $714. I’m guessing if your equity is still in the 75% range and your credit score is at 800+, an appraisal will most likely not be required saving you that additional fee. Call me at 301.517.5434 to discuss your situation. I have access to Craig’s old files hopefully making the process more streamlined for you. Hope to hear from you soon.
Eric Strasser
3015175434
NMLSR#111971
Jan
5
2012
Thank you for your questions. Your primary residence is documented through a varity of means. It is traditionally the address printed on your drivers license, bank statements, paystubs, and tax returns. There are also verification methods utilized by the banks during the processing of a loan application that might identify a property as other than a primary residence when the borrower is suggesting it is. In these rare instances, you would have to provide supportive documentation as evidence it is in deed your primary home or the loan would have to be underwritten as an investment property (if the lender didn’t out right deny the application for misrepresentation). Staying with you current bank is no less a “hassle” than starting over with a new lender. The mortgage industry requires new updated documentation on all loan applications. There aren’t any shortcuts your current bank can take to make your life easier other than having your previous application on file with your social security number, birth date, etc. that you have to now provide to a new company. You’ll still have to give your old lender new paystubs, bank statements, lender fees, and escrows to set up a new loan just as you would a new lender. Unless you have a great relationship with a particular loan officer at your old company, test the waters on a new relationship. You might have a better experience and possibly better terms as well. Rates are great – you should move on starting your refinance now. I invite you to give me a call to learn what options you have.
Eric Strasser
301.517.5434
NMLSR# 11971
Jan
4
2012
Your question is a hard one to answer as I don’t know your entire situation. Any payment to your husbands credit cards will not affect his credit score immediately. I don’t know what bank you are working with so I can’t speak to their credit score requirements and if a score higher than 710 for your husband will make any difference in your rate. You should talk with your loan officer to better guage if this is going to make a difference. My guess is it won’t be a big difference on your rate either way. In the long run, paying down your debt might be wise if your credit card interest rates are higher than your savings account rate. You should always keep some amount in your savings for emergencies but might look at paying down your cards as well. You should talk to a financial planner about this. Mortgages usually require money in the bank for refinances to act as mortgage payment reserves in the case your income is interrupted after settlement. They want to be sure that you have the means to continue making your mortgage payments while finding new work. Again, you should talk with your loan officer to determine if your CHIP loan has such a requirement. Lastly, paying points might make sense as long as the monthly savings you are getting from the lower rate offsets the cost of the points to get the lower rate in a reasonable time period. For instance, if it costs you an additional $1000 for $10 monthly savings, your break even point is in 8.33 years. If you are moving in 5, this doesn’t make sense. In contrast, if the cost is only $100 and you save $10 per month, your break even is in less than 1 year giving you 4 years of savigns. Hope this is helpful.
Eric Strasser
NMLSR# 111971
Jan
3
2012
HARP loans are available for many homeowners. Your LTV, Credit Score, and zip code all fall within the guidelines for HARP. The big determing factor if your particular loan can be processed through HARP or not is if your current loan is owned by Fannie Mae or Freddie Mac. If you reach out to me directly, I can walk you through the HARP eligibility tools and discuss with you your refinance options. I look forward to hearing from you.
Eric Strasser
301.517.5434
NMLSR# 111971
Dec
30
2011
My friend Stu Hall’s suggetion to check with a title company is a great idea. He is also correct that lenders often over estimate the closing costs. You pay transfer taxes (actually they are recordation taxes on a refinance) only on new money in Maryland on your primary residence. If you currently owe $100,000 and your new refinanced mortgage is $105,000, you will only pay taxes on the $5,000 difference between your old loan and the new one. In Charles County, the tax rate is $10 per $1000 of new money. Your recordation taxes would only be $50 in this scenario. There are other closing costs associated with refinancing which might be lumped into the $3100 number you are inquiring about. Appraisal, credit report, underwriting, processing, title examination, settlement agent fees, and recording fees would also be charged amoung other potential items. $3100 might include your total closing costs rather than just your recordation taxes. Please let us know if we can share any further information or give you a competitive quote of refinancing. Rates have improved today from yesterday.
Eric Strasser
301.517.5434
NMLSR# 111971
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Hello Im interested in obtaining a loan. I am looking to for a home for my father in law, myself and kids. Can you please let me know if you can assist with pre-approval? Thanks
Are you lending to indiviuduals who only have a TaxID?
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. Contact Tony,
could you please tell me the rates and terms to purchase a condo in ocean city md and the transfer fees
what are the seller closing fees in DE on rental property selling for $530,000 and transferring $20,000 income and $16,000 in special assessments($36,000) and paying 4% commission to realtor.
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.
I am considering refinancing my condo. It has been exactly one year since I purchased the property and rates are least a point and half lower than my current rate. Is it wise to refi so soon?
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
what is mortgage tax on purchase of 270k with 20% down
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 615-545-3402
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
Im trying to find out a little info on the my community mortgage program
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
Do the state of virginia have a first home buyer program if so what is the phone number
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! Mike
I am thinking of moving to Delaware . Is there any discounts for seniors( 65) or Veterans for transfer taxes and or fees? thank you, Dennis
i want to apply for a home loan but dont know where to start. me and my fiance are interested in buying our first house. if you could give me some info i would greatly appreciate it.
Hello, I was wondering if you do home construction loans. If not, can you refer me to a company? Thanks Troy Heard
I had a 583 FICO in January(580, 583 and 647). I've had some items removed, and some contested since then. I'm interested in getting a home loan. Is this possible at all currently?
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 would like to apply for a loan so that i may buy a new home
This is the answer to the question I asked about construction to permanent loan. The land in located in Richmond, Virginia in the Varina area which is in Henrico County.
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. Please help Kind Regards Anna
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.
just wondering if i would qualify for a home loan. is there a online application i could fill out?
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: This question is for Stuart Hall of BB&H. I would like to re-finance an AHMSI ARM underwater mortgage to a fixed rate HARP mortgage on a property I own and currently rent in South Riding VA.
Hi I would like to re-finance an AHMSI ARM underwater mortgage to a fixed rate HARP mortgage on a property I own and currently rent in South Riding VA.
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? Thank you.
I am an international student with F-1 visa and have good credit history. I am living in US for the past five years. Can you offer mortgage?
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?
Hello, when going to a settlement, the buyer usally pays for the title search, etc. The title co is saying the seller, I live in MD.
I'm looking to buy. Do you give downpayment help? I have good credit but little saved
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!
I have a $665,000 mortgage, would like to refinance. I live in Randolph county NC, have a 780 credit score, but my dti is 47%. Are there any FHA loans that I would qualify for?
I'm interested in purchasing a property for the land to build a off-campus student housing mix use building. Can the land be used as collateral or is there another way to approach the financing.
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 seme@africanindependent.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!
I am trying to get a preapproval letter to purchase a home with a va loan. I have cleaned up my credit but my score is still low. 592. Is there anyone who will work with this?
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 Regards Paul Kloppers
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?
Do any of you can work with me on HARP Loan, LTV 95%, 770, MD zip 21204. Please let me know soon
I live in charles county and im refinancing after buying almost 2 years ago. My bank is telling me i may have to pay a transfer tax of ~$3100. Is this correct?
What is your best rate on a no points/no fees 3/1 or 5/1 ARM? Property location: Cecil County, MD Credit score: 740+ Down payment: 30%+ Loan amount: $250k
Hi, I currently have a Fixed Rate FHA mortgage. Should my condo complex still be FHA approved if I am only interested in an FHA streamline option? Thanks!
Seeking no cost, under $250K, primary residence, value about $580K
I have some questions about refinancing my VA loan to lower my monthly payment.
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.
Do you do loans to non US citizens, I would like to purchase USA property, would like to borrow up to 70% of purchase price. Ideally like to borrow 100000-250000. I am from Sydney, Australia.
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 am looking for someone that will loan to someone with not so good credit. I am looking for about 85,000. I am a veteran. Let me know if you can help. Thanks
good evening how much will be the monthly payment for a $360000 house today with a hoa of $110 for FHA fixed 30yrs here in virginia?
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?
Do you offer a 0 closing cost Home Equity Line of Credit with no annual fee?
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?
Dear Sir/Madame 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) 352-5427 Harold Bowens
Dear Sir/Madame 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 Harold Bowens
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
I have a 580 credit score I need a 75000 mortgage loan I have 5% down can I get approval
Can you give me a call Mon-Fri 7AM-4PM, my work e-mail is down. It's been down for two weeks. Please use my alternate e-mail. Thank you, Ms. Ross
Can you give me a call at 804-734-7127 Mon-Fri 7AM-4PM, my work e-mail is down. It's been down for two weeks. Please use my alternate e-mail, g_love39@hotmail.com. Thank you, Ms. Ross
Does DC have a program for refinancing a loan with not closing cost?
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. Thanks, Mary Andrews
Can you give me a call Mon-Fri 7AM-4PM, my work e-mail is down. It's been down for two weeks. Please use my alternate e-mail. Thank you, Ms. Ross
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. Thanks Mike
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 John
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.
What is interest rate ?
My wife and I would like to rent our current home which is a VA loan and purschase another home in the same city. What are the procedures/requirements in doing this?
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?
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. Ray
What are your fixed fee closing costs for refinancing a 280k condo in zip code 22203 for a 30 year fixed rate and a 10 year arm? My credit score is 750
Do you do mobile home in a park loans? The price is $25,000. The mobile home has been update, but is a 1984.
I'm looking to refinance my home without closing costs. What are the current rates?
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. Thanks!
Are You Familer With Michigan State Housing Development Authority ( MSHDA ) ?
I am looking to purchase a second home in Florida, USA. Are you able to assist in relation to Foreign National Mortgage Loans and if you are what products are available? Many thanks.
I am looking to purchase a second home in Florida, USA. Are you able to assist in relation to Foreign National Mortgage Loans and if you are what products are available? Many thanks.
Want a 30 fixed no cost loan for 370,000 100,000 down
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