Jumbo Loan for First mortgage a good idea/available?
Hi Thomas3,Most non-conforming jumbo programs are going to require 15-20% or more for a down payment and 6+ months reserves so your down payment isn't your only concern. You will probably be better off doing an FHA jumbo ($729,750 in Santa Clara County) with a small second instead of a...

I need a mortgage
Hi Robert,As long as the construction is complete and you have the certificate of occupancy you should be able to get a construction to perm loan.Please feel free to contact me for more information.Thanks,John BurkeMortgage BankerChampion Bankjburke@thechampionbank.com

15 year or 30 year fixed when I refi? I have been wondering that and confused? what is pro and con?
Hi Jodie,It all depends on your budget and your short/long term goals. Rates are going to vary by .375 to .5% between a 15 year and 30 year fixed loan so maybe the best plan would be to refinance on a 30 year term but make monthly payments as if you have a 15 year loan. This way you have some flexibility just in case...

No Cash Out Mortgages For Those In The Rural Country?
Seems to me like you should be able to get this done with an FHA loan.

FHA Streamline Refinance
Hi Christ7,Depending on the lender, you will need a 640+ mid score and zero mortgage lates in the last 12 months.

Can I get no PMI with 10% down, or should I wait and save more to put down 20%?
Depending on where you live/want to buy, you may be able to buy a home with no money down and no monthly mortgage insurance with a USDA loan.http://www.usdamortgageonline.com

FHA loan refinancing with FHA streamline worth it ???
Hi Maryma_168,Are you paying any points for the 4.25% rate? The other thing to consider here is the possibility that you'll skip a mortgage payment which effectively reduces your closing costs by $3,250.00 and even if you don't you'll still save $65,360 in interest over the life of...

FHA to VA Loan Refinance options???
Hi lfuegm,What you need is a lender like myself that has the ability to do a VA cash out refinance to 100% of your home's appraised value. Most lenders are maxed at 90% but I'm saving my clients a lot of money by being able to consolidate more of their debt because I can go to 100%. With VA fixed...

VA Streamline in Wichita, KS
Hi Norveltnative,William is correct. The maximum loan term is the original term of the VA loan being refinanced plus 10 years, but not to exceed 30 years and 32 days. For example, if the old loan was made with a 15-year term, the term of the new loan cannot exceed 25 years.There is another option. I can do a VA...

Do VA loans still have lender fees?
Hi Kel_karruthers,Yes, VA loans will still have lender fees and other 3rd party closing costs. The great thing about VA is that it limits what fees you can be charged. Your closing costs can be paid by the lender in exchange for a higher interest rate or you can ask the seller to pay them through seller...

Does your credit score for va loans have to be a 620 or higher? I have been told different things.
Hi Speedgirl39569. As everyone has already said, most lenders require a 620 or better credit score for VA. I'm one of those few lenders that can do VA down to a 600 score. I wanted to touch on what Sean said because too many people gloss over it. You could have the required credit score and still get denied due...

best DTI for a VA mortgage? what is the minimum please
Hi Sgtriznack, Thank you for your service. Most lenders have an overlay of anywhere from 45% to 55%. This means even if you get approved through an AUS (automated underwriting system) with a higher debt to income ratio, the lender will not approve the loan if the ratio exceeds their overlay. I have a VA...

I WANT A VA MORTGAGE. I AM 69 YEARS OLD AND HAVE EXCELLENT CREDIT. CAN I GET ONE?
Hi Yuri,Thank you for your service. Yes, you can get a VA mortgage as long as you have the ability to repay the debt. I specialize in VA mortgages and lend in all 50 states so please feel free to contact me for more information or help.John Burkehttp://www.valoansdoneright.com

Can I get an Oregon USDA loan making $70,000 a year? I don't know the income limit
Hi Kyleaustin, Yes, the USDA Guaranteed county income limit for a 1-4 person household in Washington County is $83,950.Please feel free to contact me for more information or help. John Burke | Senior Mortgage Banker | Great Plains National Bank | Lending In ALL 50 States | http://www...

What is the VA mortgage minmum credit score required?
Hi Texanharold, Thank you for your service. Most lenders require a 620 score for VA loans but I can do them down to a 600 score. VA does not require a down payment so your credit scored does not effect a down payment minimum per say. There maybe a scenario where you need to put money down to get approved through...

how to go from a commercial loan short sale to a VA home loan?
Hi Jemturman946, Does the commercial loan show up on your credit? How long ago was the short sale? If it doesn't show up on your credit you maybe eligible for a VA Mortgage right now UNLESS the commercial loan was government backed which would result in a CAIVRS hit. If it does show up on your credit & it was...

wha what is the minimum credit score for a va home loan
Hi Mccray,Thank you for your service.Most lenders require a 620 score for VA loans but I can do them down to a 600 score. The rate is slightly higher but it's not too bad. I can also help you increase your credit scores depending on what's affecting them. Please feel free to contact me for more information or...

I was told that Texas Law A-6 does not allow a poa on closing (refinancing) and I am in Afghanistan
Hi David.devasier134,Unfortunately that is correct. As of June 21, 2013 POA is no longer allowed on TX Home Equity Loans. See page 15 on the following link.http://www.ibat.org/files/PDFs/Home-equity-rules-6.27.13.pdfIf you are not doing a true cash out loan like refinancing from FHA to VA you can do a...

This is SPAM people!

After a Chapter 7 bankruptcy with property surrender which rule above applies? 2 years for bankruptcy or 3 years after the sale?
Hi Stewart,It is 3 years from the sale date or when the bank takes back title to the home for FHA & USDA but for VA it's only 2 years from the discharge of the bankruptcy.FHA does allow exceptions to the 3 year wait if you qualify for one of the few "extenuating circumstances" exceptions. The most recent one...