My fiance has a credit score of 663 and mine is 615, can we get approved for a home loan?
Most lenders are going to require a minimum credit score of 620 for both borrowers, and some lenders will require a minimum credit score of 640 for both borrowers. Lenders look at the middle credit score of the three credit bureaus. Depending on how you obtained your credit score, you may not have the...

Should I finish paying off a loan now or later?
I agree with some of the other posts. As long as your closing costs are minimal, and provided there is no prepayment penalty, take the 2.75% and make a new payment that will pay off the loan in the same timeframe. If you calculate the payment required to pay the loan off by 2015 and it is higher, it means your...

Can I lower my escrow since my house's value decreased?
Absolutely. Provide a copy of your new tax bill or other proof of the reduction and fax it to your current mortgage servicer. You will need to call the current servicer (lender) and ask for the fax number to the escrow department. Specifically, request for the escrow department to readjust your monthly...

Adjustable or fixed rate?
Congradualtions on your first home. You probably need a lot more advice than just a decision about fixed and adjustable rates. If you would like an informal explanation of the entire process and some suggestions on how to get the best mortgage for you, feel free to give me a call at 888-407-1592. I have...

Would I qualify, and if so, what would my monthly mortgage payment be?
I ran FMC Mortgage Company and Envoy Mortgage offices on Clay Street in Vicksburg MS and still actively work with many clients in the Vicksburg area. Vicksburg is within the USDA/Rural Housing area and you appear to qualify based on the information you provided. There are a couple of items I would like...

In Redemption ,,this was not the plan all I wanted to do was to reinstate the loan
Bank of America is required to provide the information you are requesting regardless of whether you have an attorney. If the lower levfel employee isn't helping you, demand to talk to a supervisor and threaten to get your congressperson involved if they won't help you. Don't take no...

HARP2.0 - open access, recourse loan
I do not think you would be required to stay with Citibank, and you are correct in thinking there rates are higher than you could receive elsewhere. I would recommend John Robinson who works with Bank of England and specializes in HARP refinances. His phone number is 888-407-1592. He has 15 years...

Cash out refinancing?
A cash-out refinance allows you to take equity from property you own. Depending on whether you property is your primary residence, second home, or investment property, you will be limited to the amount you can borrow as a percentage of the home's value. Some programs allow you to take up to 90% of...

Moving after refinance
There is no requirement that you stay in your home for a least one year. There are restrictions to obtaining a second FHA loan. Because some of the advice you have received is incorrect, I thought you would find the actual guidelines helpful. Here is the actual FHA guidelines:To prevent circumvention of...

When my mortage was transfer to another lender, the new lender is charging me $105.00 Is this legal??
No, it is not legal if the charge is for the transfer. If you had a late payment charge that needs to be cleared up, they may have the right just like your previous lender would have had, to insist that the late charge is paid. Best of luck in resolving this issue.John DesmondENG Lending888-407-1592

what is considered bad credit
Generally speaking you will need a 640 credit score to get reasonably good rates for FHA and VA loans, and a 720 credit score to get good rates for a conventional loan. Many lenders, including us, allow credit scores down to 620 on many of their loan offerings, however, you are wise to improve your credit...

Fanny 5-10 rules
I agree with the other responses. Best option is to contact a lender and talk directly to them.

Can you borrow more than you own in equity through a reverse mortgage?
A reverse mortgage can be used to borrow a percentage of the appraised value based on your age. Each month the interest on the amount borrowed gets added to the principal owed. Because this amount may eventually be more than the house is worth, many reverse mortgage customers end up borrowing more than...

Does the FHA offer a HECM jumbo reverse mortgage program?
There are reverse mortgage programs for jumbo mortgages, although the rates are higher than the FHA rates. This means you may get less equity out of the property than using the FHA HECM program. The FHA HECM does allow up to a maximum claim greater than $600,000 in many areas. Your best bet is to compare the...

Where to find a lender who will allow me to self perform the work on a 203k loan?
I would need more information to answer that question fully. Call me at 504-400-5626. John Desmond