How can I get a no doc mortgage? I have pretty bad scores.
Currently, unless you are doing a non-credit qualifying FHA streamline refinance , most lenders will require you to document your income and assets. Since the passage of the Dodd Frank Act, lender are required to prove that the borrowers have the capacity to repay the loan that they are signing for,...

Why are rates going high so fast?
Rates have definitely risen over the past few weeks. While no one can give a definitive answer as to whether rates will be falling back to their lows, it seems unlikely that it would happen. One major reason that rates have been so low is that the Federal Reserve has been infusing massive amounts of cash...

I am planning to buy a home next year, what is the outlook for mortgage rates next year?
Miss Mary: The general consensus is that rates will continue an upward trend. It will not likely be straight up, as the market makes shifts based on Fed announcements, world events, etc... and the market is not entirely rational. It is good that you are planning for your purchase ahead of time. One piece of...

Bank of america sold my loan to nation star and when I was going to make my first payment it had Lender paid expense of $7329.00
This does not sound right. Could this be an escrow shortage? It would be a great idea to let a mortgage professional look at your statement and the demand letter so that you can get the best advice.

Do disabled veterans get any discount on their mortgages?
Depending on their level of disability, the Vet's get a waiver of the funding fee, and they may also get waivers on property taxes depending on their state of residence.

should i get a reverse mortgage for my parents?
A reverse mortgage is a great tool for retirement planning. Are your parents currently having cash flow shortages, or are they planning just in case. There are a few options for reverse mortgages, and depending on your folk's cash flow needs and their spending/saving habits, they need to be careful to...

i have a conventional loan but would like to make repairs
Depending on the amount of equity you have in your home, you would be best advised to look at a cash out refinance (if your home is in decent condition and would appraise.) While I am a big proponent of the 203K (or 203K streamline), the monthly mortgage insurance premium over the life of the loan, as well...

Can I hire an appraiser if i'm unsatisfied with my agents choice?
Unfortunately, neither you or your agent are able to hire the appraiser used in the lending process. Generally speaking, when a customer's home (or home to be) is about to be appraised, I suggest that their agent create an information packet that lists all improvements and the date of improvement as...

Regarding USDA, what are the minimum distances between the well and septic?
For USDA loans, the minimum well and septic distance must comply with HUD, state and local guidelines. FHA states "For existing properties, FHA requires that a domestic well be located a minimum of 100 feet from the septic tank's drain field and a minimum of 10 feet from any property line. Should state...

can lenders still receive tax transcripts during shutdown
Based on the information that I have received from the service that does our 4506 fulfillment we maynot be able to have the 4506's fulfilled until the shutdown has been completed.

True or False?
Primary conventional mortgage rates are based on mortgage backed securities, but then you have different risk-based pricing additions that are specified by the GSEs (Fannie and Freddie) as well as individual lenders. In addition to these risk-related adjustments is the lender's profit. I hope...

Can my father in law sell his house to me for under Market value? The County appraisal is 600k.
There are potentially two separate issues here: 1) Will your father in law be gifting any equity to you (in lieu of you making a down payment) and 2) will your father-in-law have tax implications based on the below-market sale.The tax related questions are best handled by a CPA or a Tax Attorney (I know a...

I am a Veteran and need help getting my home refinanced.
Thank you for serving our country. You are one of the people that have made this nation great, and I am personally grateful for your service.It would be a privilege to assist you in the refinance of your home. I am located in Houston, but we have offices in Dallas as well that can assist you, provide you not...

Is the 36 months from the time the BK 13 is filed or from discharge
Many lenders can do fha loans as little as 12 months from filling date. I have recently closed an fha loan for a customer still in bankruptcy. All that was required was trustee permission and a good payment history

My husband has a credit score of 608 has good income, just bumps on the creditcan you still get a loan???
While it is possible to do loans with credit scores down to 660, I have found that we can significantly increase credit scores with just one or two tweaks to credit use. Last week, I was able to increase a customer's score from 604 to 708 by making a couple changes to credit use. Feel free to call me at...

with higher down payment, better to go with fha or conventional?
Just because you have 20% down does not mean that you should use it all. Your down payment amount should be based on what you can comfortably afford for a down payment, the amount of reserves that you will have after closing, the amount that you may need to upgrade your home, etc... If you can afford to avoid...

How fast can a VA loan close? What documents are needed?
Depending on the speed of the appraisal, we are able to close VA loans in 3-4 weeks. We will need the following to begin your application:1) last 30 days of paystubs2) Last 2 years tax returns3) last 2 years w2s (plus 2013 when it comes out)4) last 2 months of bank statements, all accounts, all pages.5)...

how can I get a loan off of me...its a subject to assumption loan...want to purchase another house
If this is an FHA loan and you are selling the property, it is very important that you have the servicer send you a Release from Liability (HUD FORM HUD-922210-1 Approval of Purchaser and Release of Seller). If that does not occur, you are still liable for the other debt. While it is true that you can have...

Has the FHA changed their guidelines with regards to chapter 13 bk?
Currently, you can get a FHA loan while you are in a Chapter 13 BK. You must have a good payment history to the trustee and still have an acceptable credit score. If you have any further questions, please feel free to call me at 281.841.1723. Rich

can i get a loan with no pmi with 15% down anywhere?
Kyle: while you may be able to find a lender that can do a no MI program for you, in the long term it may be detrimental to you. No MI programs generally have higher interest rates (LPMI costs are built into the rate on your loan.) If you have traditional, borrower paid MI on a conventional loan, once you get...