Credit scores??
Unfortunately, the "credit score" available from a consumer website are not very accurate. Lender pulled credit scores tend to be a little lower than those obtained from a consumer website. Credit scores of 580 and up will qualify you for an FHA loan with many, but not all lenders. The lender...

Can I qualify for a mortgage if I have student loan deferment?
Genevieve,If your student loan is defered for a least 12 months beyond the date of your new mortgage, the payment for that student loan will be ignored for underwriting purposes. Please let me know if you would like to get prequalified for a mortgage. I am located and have been in business in Boulder...

My wife's niece want to purchase a rental home that I have for sale by owner. It will appraise for more than I am selling it to
There is no restriction on sales to a family member. If your intention is to give her a gift of some of the equity in the home, you can do so. Simply execute a Contract to Buy and Sell Real Estate with her for an amount in excess of the price that you would offer it to her and write a letter stating that you are...

remodel of bathrooms and recarpet
Joe,First of all "points" is a lender term that describe a cost to you measured in a percentage of The loan amount. 1 point on a $100,000 loan is $1,000. "Fees". Is a term used to describe the other closing costs. These would include the cost of the appraisal, title insurance etc. The closing cost for a loan to...

Does getting a prequaled take any less time than getting preapproved
There really is no difference for most lenders. Of course, the lender will still need an appraisal for your new home, title insurance and homeowners insurance. You will also need to be aware that the credit report and income and asset documentation you will be providing has a shelf life. You may have to...

do mortgage rates show any trend for summer
The movement in mortgage rates is not seasonal. The move according to the expectation of inflation. If inflation is expected to increase, mortgage rates will go up and vise versa.

Need Harp 3
Housing does not seem to be the burning issue in Washington right now as we go into the election cycle. Is you loan HARP eligible now? Will the 2nd mortgage lender agree to subordinate to the new first mortgage were you to be able to do a HARP refinance. Please call if you would like to discuss your situation...

Do any colorado lenders still offer no doc or siva loans?
Stephanie,There still are a few "hard money" lenders that will lend based strictly upon the value of the property. They require huge down payments..at least 35% in most cases. These loans are typically of a very short term. Normally 3 years or less and have much higher interest rates. The out of pocket costs...

What paperwork do lenders require for self employed applicant?
Doreena,The normal requirement is that you provide personal tax returns and two years business tax returns if you file a separate business tax return. Most small business report on Schedule C of their personal return. You must provide returns for the most recent two years (2012 & 2013). You business...

Is the loan amount guaranteed by a preapproval?
The letter would have subject to the terms and conditions described in the letter. No doubt one those conditions would have been an expiration date. Since your approval is based upon your ability to qualify for a loan of $350,000 considering current interest rates, your current income and the cash...

What is the average time for a home loan to close in the Castle Rocky area in CO?
It really where your home is located in the Denver Metro area. You should be able to close within 3 weeks of the time that you have provided all the documentation requested by your Loan Officer/Processor.

getting a va loan with short credit history
Kyle,Let me add my voice to the choir. You should have not difficulty getting a VA loan if you have a stable job and have been in that job for a few months. Please call if you have other questions. Congratulations on taking this big step in your life and thank you for your service.

realator will not help me until i get prequalified?
Prequalification can typically be done over the phone. Whatever documentation needed can be faxed or emailed. Credit reports can be obtained instantaneously nowadays. Quick and easy. Give me a call if you would care to.Jim Crowder (303) 817-3308

Options for newly divorced with lower credit
There will be a slight adjustment to the fee for a credit score below 720, but you should be good to go unless the three late payments were mortgage payments. Just give a call should you want get prequalified for a loan.Jim Crowder (303)817-3308

are there any no closing cost mortgages?
Casey,Good question! It shows that you have an understanding of the relationship between loan cost and interest rate. Yes, a higher rate will offer lower costs and will even offer a credit to you to help with or pay all of your closing costs. Depending on the size of the loan, you may need only increase the...

When i lok at rates and there is apr, is that what i should go by for lenders?
The best way to compare any two loans of the same type is to compare the cost of one offering to the others at the same interest rate. These costs will be disclosed to you in the form of a Good Faith Estimate and can often be done online. Be sure you are comparing a 30 year fixed rate mortgage to another 30 year...

will i pay more using a mortgage broker instead of going to lender direct
The easy way to find out which has the best price is to compare the cost of a loan at the same interest rate between the offerings of a Banker and that of a Broker. Oftentimes, the Brokers Fee is paid by the Lender and the cost to you is lower than would be offered by a bank. This and you will get an advocate when...

is there an inspection for fannie loans like with fha?
Jonah,It is easy to confuse an appraisal with an inspection. Often times, the appraiser or lender may refer to the inspection by the appraiser. The appraiser will try to identify obvious health, safety and code violations when inspecting the property, but their main interest is in determining value. ...

lowest down payments possible?
There is a program available that allows you to get a second mortgage and an Fha first mortgage in the combined amount of .5% of the sales price. Another way of saying this is that you can buy a home with one half of one percent down payment.Please call if you would like more details Jim Crowder (303)243-3918

can i do a cashout refi and specify the amount of equity i want to take out?
Sure! You get a loan for up to 85% of the current value of the property. So anything less than that is also acceptable. There is more to know however. If you care to, give me a call.Jim Crowder303.817.3308 Cell