Looking for a 10 Yr Fixed rate
Sheila,Rates on a no cash out 10 year fixed for a borrower with >740 credit, < 80%LTV, loan amount of around $200,000, and with escrows should be around 3.625% / 3.876% apr if you are paying 1pt and average loan fees. Please know the best chance you have to get an accurate quote and avoid any surprises...

How do you know whether you can get USDA loan?
Hi,If you are doing some research on your own you can cut and paste the links below. ( If the links do not work just Google USDA property eligibility) The links are to the USDA website. The property eligibility map is usually pretty accurate but I have ran into instances where boundaries were changed...

Are there any no doc loans or stated income loans available?
I have had many borrowers come in my office looking for no doc or stated loans which are virtually non existent due to new laws that require lenders to make a reasonable determination if a borrower has the ability to repay the loan. I have placed many loans for borrowers in this situation by using trust...

Is the rate move up done? Can we expect it to hold steady?
Hi Mike, If anyone tells you they know what rates are going to do it this market I would run! What I can tell you from my experience is that when rates go up they go up fast and when they go down they go down slow. Rates today are still at historical lows and if you are happy with the current rate and fees you are...

WHat is the highest LTV for the best refi rates? IS 95% still good?
Hi Sean,For a no cash out refinance 95% conventional loans, 97.75% FHA loans, and even 100% USDA loans may be available. If your current loan is an FHA loan you may be eligible for a refinance without an appraisal which will take the LTV (loan to value) out of the equation. If you do not currently have an FHA...

What is a good Debt to Income ratio which will not cause a hit on my rates? What is ideal?
Hi Saul,In todays mortgage market the maximum DTI is determined by computer programs called Automated Underwriting Engines which are typically referred to as AU systems. Unless you are working with a lender that has overlays on top of Fannie and Freddie guidelines your DTI should not affect your...

Is a mortgage on undeveloped land possible?
Hi, The best bet would be to check with a local bank that you have a deposit relationship with. Many banks will lend on land to a strong borrower with a 20% to 25% down payment. The banking world is pretty small, if your local bank can not help you out they will likely know what banks in town are currently...

Is it possible in my situation?
FHA only requires a 500 minimum credit score for an FHA loan with a 10% down payment so you may be in better shape than you think. The trick will be to find a lender that does not have overlays on top of the FHA guidelines, you will find that most do. You will save yourself a lot of time and headaches if you locate...

Wat are the rates for 10 year fixed?
Anthony, Rates on a 10 year fixed loan for a loan with a loan to value less than 80%, a credit score above 720, debt to income below 45%, no cash out or purchase, on a single family residence should be in the range of 3.25% to 3.625%. You will find that not all lenders are competitive on a 10 year, some of them even...

New Job previously self employed and getting married need mortgage
Justin, Going from self employed to salaried should not be a problem at all as long as you are trying to qualify only on your base salary. Most lenders / investors we work with only require a paystub showing 30 days of employment at the new salaried job. Chase Bank is a great lender on straight forward...

less than 75 % LTV for investment property?
Hi, Many lenders limit investment properties to 75% or even 70% LTV however we do allow 80% LTV on our fixed rate conforming products. If you will please email me or call me with the following information I would be happy to put a rate / fee quote together for you. Type of loan you are looking for. 30, 20, 15, or...

Home Purchase in Colorado Springs, what are some possible rates?
Hi, Our 30 year fixed rate is at 3.75% with .5% origination and $699 underwriting. A better deal is 3.875% with no origination, no underwriting, and a credit of $1,000 you can use towards your title fees. Please email me at corey_seitz@excelfg.com or call at 970-407-8288 if you have any questions. Thanks, ...

What can I use the lender credits for?
Hi, Your current lender is correct in the fact that you can use excess lender credit to pay down your principal balance however we rarely do that as it usually makes more sense to reduce the interest rate which will reduce the lender credit. If you email me the following information I can do a full...

Question selling to family
Hi, that could possible be true for that particular lender. We allow gift equity for the down payment, you would sell the home for $230k and gift them the $30k in equity as a down payment. Please feel free to give me a call and I can explain the details.I am a local Colorado mortgage broker and have been in the...

Is cash out refinance higher rate?
Hi Scott, Our cash out rates are the same as rate and term refinances on government and jumbo loans. Conventional rates may be higher depending on both your credit score as well as the Loan to Value. Thanks, Corey PS. We have experience lending in Aspen. Please let me know if I can price something out for you.

i\'ve saved a few years to buy a home but my credit is around 600 due to old credit debt. Are subprime loans still available?
Hi Mike,We have a 3.5% down program that will allow a 580 credit score with very low 30 year fixed rates. This is one of our standard programs and a much better program than any subprime programs you may find... if you find anyone offering them at all. I would be happy to do a full credit analysis for you and let you...

Which bank to choose?
Hi Georgio, A local mortgage broker will work for you. The employees at the banks are working for the bank and the bank only. If you want the most competitive rates, the most possible loan options, and someone that is working for you please call a local broker. We are located in Fort Collins and do a lot of...

Can you please give me advice on when to lock a mortgage this week
Hi, Interest rates move due to market influences that can occur during any day of the week so there are no specific days that are better or worse to lock on. That being said rates are heading up so I would suggest locking a loan now if you have a loan that is submitted and ready to lock. If you email me a your loan...

What kind of credit score do you need to get a harp loan?
Hi Meridith, We do not have a minimum score for a HARP loan. The credit score is determined by our automated underwriting system. If you would like me to run the system please let me know. Thanks, Corey corey_seitz@excelfg.com

possible to get a jumbo with 700 score?
Hi Yemele, By now you have found out there are many lenders that would love to do a jumbo loan for you with a 700 score. While these loans are possible and we offer them I would suggest that you have a full professional credit analysis done before you enter into a jumbo loan with a 700 score. We use CreditXpert...