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How to find a good mortgage lender?

How do I find a good mortgage lender? Scared of using those lenders online. Trying to refinance an underwater loan, and we will pay enough down to have 20 % equity, so we don't have to pay PMI. Here's the problem. I want ON the loan--- but the bank is not wanting to let me on the loan. We both have  excellent credit,but I just don't have enough income. However, the other owner has good income.  Thanks! I am in St Petersburg, Florida.
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June 19 2013 - Saint Petersburg
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Look for a licensed Mortgage Broker who has your best interests in mind.
You are on the right track to paying your note down and refinancing at 80% loan to value. In addition, be sure your credit score is at least 720, as this will get you the best rate available
Feel free to contact me as it would be my pleasure to help you!
Jeannie
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June 24 2013
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"I have a program that only requires 5% equity, no mi"
=========================================================
Refinance.
95% No MI.
Not even LPMI?
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June 23 2013
Check reviews.  I have a program that only requires 5% equity, no mi
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June 23 2013
if freddie Mac owns the loan, you should show up in the database. although that does not mean you automatically qualify for a HARP loan. i have seen this before (just recently), where a loan gets sold and some of the data gets entered incorrectly and a borrower gets deleted or an address gets altered. if freddie does in fact own your dad's loan, he can call them to make sure it is showing up correctly in their system. Its a phone call definitely worth making.
If it is a private loan, them freddie would not own it. when you say private, do you mean a private individual or a bank owns the loan and they did not sell it to fannie or freddie?
 
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June 19 2013
You can use your father on the loan as a non occupant co borrower. Since you are on title, you have vested interest in the property even though you are not on the note. With you taking the note down to 80%, this should be a viable loan. Of course, you can't get a firm yes without the full picture.
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June 19 2013
I still don't see an issue here. If you are putting 20% down, you should be able to refinance into a Conventional 30 year mortgage, with no PMI. If I am not mistaken, you are both on the deed, but just your father is on the Note, correct?
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June 19 2013
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My father is the other owner. He does NOT live here, that's the problem. He might have to move back though. Right now, I am on everything, except the note. 

Not a Fannie Mae or Freddie Mac, so the HARP won't work. Actually, it is a Freddie Mac, but it 's a private loan and we dont' show up in the database. 
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June 19 2013
This scenario is very common. I would hesitate to give you information without knowing the exact numbers involved. I am a Mortgage Consultant with a National Lender, and would be more than happy to speak with you and answer any questions you may have. Please feel free to contact me through my profile, and no matter who does this loan for you, I hope you receive the best advice and service possible. Thank you and good luck.
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June 19 2013
Hi Ohhdear, I am a local broker in Tampa. Do you know if you qualify for a HARP refinance loan? If so, you would not need to pay down your mortgage balance to avoid private mortgage insurance. Also, with you ON the loan, is the debt to income ratio for the loan too high because your income (or lack thereof) does not offset the debt on your credit report? I assume you are currently on the deed to the home? - joe
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June 19 2013
ohhhdear,

Of course one option for finding a good mortage lender is to ask your circle of influence. The reviews are obviously limited though.
As far as online lenders. You can actually get more reviews and feedback on their work than most "local" lenders. Reading reviews is a great way to see if you have a good lender.
I would assume that the bank does not want to put you on the loan due to the debt you carry raising the debt to income ratio and not being offset by your income. If there is another reason, I would be curious to know what that is.
Feel free to contact me for help if you run into a wall.
All The Best!
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June 19 2013
Do you want to be on the note and deed or just the deed?
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June 19 2013
Do you mean that your debts outweigh the income that you bring in and thus make the loan not able to be approved?  Otherwise why could you not be on the loan if you own the property.
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June 19 2013
 
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