bankruptcy down payment
noBK Chapter 7 or 11 = 4 years from discharge date (conventional) 2 year from discharge date (VA) 2 years from discharge date (FHA)BK Chapeter 13 = 2 years from discharge date 4 years from dismissal date (Conventional) 1 day from discharge date (VA) 1 Year from dishcarge date (FHA)Happy Hunting

Loan options with no mortgage insurance
There is a program out called HARP. You might check to see if your previous loan was originated prior to Feb-Mar of 09. If it was - and you were not paying PMI with your current loan - there is a chance going forward that you could qualify for either a DU Refi plus loan or a Freddie Relief depending upon which...

I am trying to purchase a second home for $34,900. It is a short sale. What is the right direction for financing?
I would also recommend a local credit union or bank.

Can you skip the waiting period after foreclosure if you co-sign the mortgage?
There may be someone willing to underwrite an FHA/VA loan with extenuating circumstances. It would be very difficult but might be worth your time to look into it assuming you have one."Previous Mortgage Foreclosure. A borrower whose previous principal residence or other real property was...

How soon can you refinance after buying a home?
if you are looking to only refinance the current mortgage and take zero cash out other than closing costs, prepaids, and escrows then you can do the refinance the very next day. You just can't use the same lender. They will get charged back on the loan so if it is a friend or someone that you don't...

Is there a diffence between a loan for an investment property and that for a home that the purchaser planned to live in?
Yes, long story short: If it is investment you are limited to conventional financing. This means no FHA or VA financing. You may do an IRRRRL on an investment property with a VA loan if the home is already in a VA loan. You need to have 25% equity in the home if it is an investment property for both purchase and...

Does my student loan count against DTI if it is in deferment?
FHA and VA you can ignore if you are deferred for at least 12 months at closing. You will need proof from the loan providers that they are deferred and for how long. Conventional you cannot ignore the payment with most banks. Since they are in deferrment you can call your loan provider and get proof of what...

What kind of rate can I expect if I decide to build a home rather than buy a new one?
The first part of the question is determined by the market. There may be a risk to not locking a long term fixed rate now while rates are low. The second question depends on the agreement and the terms of the conversion. Not all loans are the same.

Are VA loan rates different than regular? If so, are they lower or higher?
Yes, I specialize in VA and we do them with 0 origination costs. That means no Underwriting, Processing, or Point fees. Call me and I'll work up a quote for you and email it over. We can loan up to 100% of the value of your home on VA CASH OUT scenarios at or under 417K. 913-884-1666.

whats the best i could do with a 590
I have Veteran loans that will finance a minimum of 580. If you are a Veteran please consider calling me. BENJAMIN CHAI | Loan Consultant (NMLS ID#: 415041)NORTH AMERICAN SAVINGS BANK, F.S.B. (NMLS ID#: 400039) P: 866.627.2788 F: 816.508.1491903 E. 104th Street, Suite 400 | Kansas City, MO 64131 | www.nasb.com

Will student loans help me get a mortgage or not - had two conflicting answers please help!
DTI at 29% shouldn't be a problem assuming that includes your student loan payments. Call me if you want a Pre-Approval Letter at no cost or obligation to you. 866-627-2788 -Ben

Is there a title seasoning requirement for VA cash out refinance?
There is no seasoning. Call me at 866-627-2788. We do VA loans with zero lender fees and can provide you a quote at no cost or obligation. -Ben

Do I need to tell my current lender that I want to refinance with another lender?
If you have already started a loan then technically no, but most professionals would advise out of good faith that you would want to let them know, so they are not working on a loan that is not going to close. If you haven't started the loan process with anyone then you do not need to let them know. The bank you...

Are mortgage rates at all different depending on area?
The interest rates are based primarily off credit score and loan amount. In rare cases states sometimes recieve better rates than others but not cities. This information applies to my bank. Others may be different. --Ben 866-627-2788 (NASB KC,MO)

Refinancing out of FHa early possible?
The monthly PMI recently reduced. You could potentially see payment savings from lowering your rate, lowering your monthly PMI obligation, and extending your term. If you would like a quick chat at no cost or obligation feel free to call me. I work for a Federally Chartered Savings Bank licensed in all...