100% LTV refinance shortly after purchase?
There are loans that can be done on this home in its current condition. A typical product most lenders would offer is a 203(ks) home. I short this is a rehab/remodel loan that allows for up to $30,000.00 to be borrower in excess of the the purchase price. There are certain limitation but typically these are...

HARP Refi Denied - What's HARP?
HARP stands for "Home Affordable Refinance Program". These loans are traditionally for borrowers who are in a negative equity position, however there are some benefits for borrwers with lower FICO scores. My recommendation is to shop around and compare pricing and programs that will...

Bad credit
There are lenders in the market that will lend on lower scores. These loans will typically be FHA (Federal Housing) and will have more stringent guidelines. However this loan is still possible if you can meet the requirements. Good luck

1 Year worth of W-2
Is the previous home purchased your primary residence and/or is this an investment property. Yes you have several options depending on who your bank/loan officer structures this loan. Good luck

Do all banks have to participate in HARP?
To provide a simple answer to your question, not all lenders are required to participate in the HARP program. As a lender or a broker we all sell the same product(s), the only exception to this is if you sell directly to Fannie Mae, Ginnie Mae, or Freddie Mac. If you are selling directly to these entities...

Refinancing
Tennesse is not a community property state so depending on your situtation there are some instances where he could have refinanced the home. Typically you would be required to sign a quit claim deed removing your title to the property before he could refinance the property without you. If you are...

Anti steering
Anti steering is a broad subject and depending on the type of loan officer (mortgage broker vs.mortgage banker) they types of disclosures required vary. Brokers who "farm" your loan out to various lenders are required to disclose a anti-steering disclosure showing you a minimum of three...

If I pay my truck off will that boost my credit score more or effect my home loan approval?
If you pay off your truck yuo will see a slight increase in your credt score. However since 30% percent of your score is revolving debt, you might want to look at paying a credit card down to less than 30% of the credit limit. This will typically give you the greatest boost in your score. I would also recommend...

My credit score is 507, I have steady employment, and qualify for a VA loan. What are my chances of getting a loan?
You need to find a company willing to work with you and help you with your credit. As stated below there are very few mortgage lenders in the market today willing to buy with a score this low. Keep in mind there are few but in order to qualify you would have to have a clean 12 months histroy and willing to pay off...

Refinancing
The only additional information I would add to Al's response is if you are currently in your CH 13 repayment, you will be required to get approval from the BK trustee before acquiring additional debt. Additionally, most lenders are going to want to see a copy to your payment history on the BK and...

Can anyone do better?
Right now on a typical 15 yr loan conventional rates are sitting around 3.875 today with no costs for the rate. If you need assistance or just some professional advice please give me a call and I can refer you to someone who can give you a better deal. Good Luck

Getting Approved for a Loan with a Co-Signer
Adding a non-occupying co-borrower will not benefit you on a conventional loan. Since you currently have a FHA loan you are not eligible for another FHA loan. Also please keep in mind that since you do not have a history of owning a investment you will need 30% equity in your current residence to be able to...

Sales comps for appraisal
Investors typically ask for like comps to show there is a market for these types of properties. Here is an example: If a borrower is looking for a traditional built home on 5 acres, the real-estate agent is less likely going to show them a log home on 20+ acres. Reality is a custon built log home is more...

If my credit score is 650 and my fiance is 700 would we qualify for a $200,000 mortgage?
Jilian, your credit score does not qualify you for a loan amount. As a mortgage bank we look at your income to debt ratios on a loan. For example if your gross monthly income was $1000.00, typically we would no want more than $430.00 of that income going out monthly for expenses. Expenses included in this...

how much will 1 poing lower a 3.75 interest on a 200,000 mortgage?
This is a difficult question to answer. Rates are acquired from the bond market and vary depending on market conditions. I can't answer this question for all lenders but under current market conditions if you were wanting to lower your rate wit Total Lending it costs for lowering your rate from 3...

Home loan
It is not possible to get a new loan while a home is in foreclosure. I would recommend working with your current lender in an attempt to get a loan modification. Depending on your situation the lender might work with you to resolve the issues and in some cases lower the current interest rate to make your...

Does anyone provide refinancing options on an investment property in the US for someone...l
If you have credit accounts in the US you should have a fico. Additionally as long as you are filing tax returns in the US, there should be no reason why you should not be able to refinace an investment property. If you were running into issues it would appear the lender you were working with did not...

I have a 580 credit score. Been employed for over 6 years, married , $120,000 salary. Can I refinance
The simple answer is yes you can refinance however it will be dependent on your past 24 month credit profile and might require some credit repair. I would recommend finding a mortgage professional in your market and speak with them personally. If you have any additional questions please let me know and...

People have suggested I lock before rates gets worse, but i'd like some professional advice. Should I lock now?
Locking a loan is a judgment call. To give you advice would be the same as walking up to a slot machine and telling you to put money in because I know you are going to win. Many mortgage professionals watch the market daily to try to get a idea of what the market is going to do. There is a magnitude of economic data...

anyway around 12 month wait on renting my fha loan property if i live there too?
If you are residing in the residence and you lease a portion of your home out, you are not in violation or would have ever been in violation of terms and conditions of your contract with the lender. The terms and conditions you are referring to only apply in the event you vacated the property and turn it...