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Replies (23)
- Derek Tunison, "Dtunison"
- Contributions:87
[content removed by moderator for being self promotional]
- Joe Cafiero, "Joe Cafiero"
- Contributions:3221
I guess someone did not hear about not being self promotional on these threads. Would love to hear about the over 100% CLTV products in the mid 6's.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Dtunison, looks like you are rather new to these threads. Zillow does not allow for spam or self promotion, we cannot put our contact info in our posts. We are here to provide advice not promote ourselves. Your post has been flagged and Zillow will remove it. Good luck and welcome aboard.
- Andrew Adams, "203K Specialist"
- Contributions:9349
I think he has been re-incarnated...I remember the cheesy celebrity endorsement line.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
NR, post your actual loan request through the mortgage tab. You will have to put it some info as to what you are looking for, like I said, in the comments section, put that you are looking for 97% FHA loan, you have a 2nd that will need to be subordinated for $29k. It is real easy to put the request in. Once you do that, the lenders that are actually licensed in your state will be allowed to post rate quotes for you. If you give us your Loan Request ID number, we can help you weed out the good and bad quotes.
- Derek Tunison, "Dtunison"
- Contributions:87
Thank you, I am new to this site and didn't know you could not do that. I will try and take it off I am not sure were you do that at. I appreciate you letting me know that.
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
You can't actually remove, Zillow will. No delete button for us-unfortunately!
- Derek Tunison, "Dtunison"
- Contributions:87
Okay well again thank you. They will not stop me from discussions will they?
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
No.
- Derek Tunison, "Dtunison"
- Contributions:87
Okay well thank you, have a great night.
- Nic Netherton, "Colorado Lender"
- Contributions:7219
What celebrity testimonials Andy?
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Look at the profile Nickers-you'll see. Reminds you of Ballen.........How are you this evening anyhow, still huntin wabbits?
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Anything remind you of Bradford?
- James Ryan, "GreatRateFolks"
- Contributions:1038
Over 100% CLTV in the 6's? I would love to see any info on that too....
Also, I am up against 5 lenders that are offering 5.75 with a 53% back end DTI with no mention in their quotes that may be a problem. I hope the DTI is a mistake....
nrpacino, submit the request as suggested above, and you will get some good quotes from Zillow folks, and good luck to you!
- Michael Mazursky, "FHA Mortgage"
- Contributions:314
- Brandon Keskitalo, "Homesite Mortgage"
- Contributions:11
FHA Mortgage is correct. You could offer a rate in the high 5's as long as you can subordinate the second. There is no CLTV limit with FHA.
GreatRateFolks:
If you plan on running it FHA and there credit scores are high enough to get an approve/eligible through DO or DU, then a 53% DTI is not a problem. I have seen approves as high as 57% DTI.
- Michael Mazursky, "FHA Mortgage"
- Contributions:314
"If you plan on running it FHA and there credit scores are high enough to get an approve/eligible through DO or DU, then a 53% DTI is not a problem. I have seen approves as high as 57% DTI."
I have never seen an FHA Approve Eligible with that high of a debt ratio. Maybe Fannie or Freddie when they would go up to 64% in some cases, but look at where they are now. Would you loan your money to someone with that high a debt ratio? What will happen if Obama wins the election and he raises taxes? Then they are really screwed.
- Joe Cafiero, "Joe Cafiero"
- Contributions:3221
Nr...The first thing you need to do is talk to HSBC to get an idea if they will even entertain subordinating the second mortgage. If they are not on ball, you could have a 15% DTI and it would not matter.
- Brandon Keskitalo, "Homesite Mortgage"
- Contributions:11
I recently subordianted a second from HSBC with a CLTV of 115%. HSBC will in most cases subordiante, but good luck dealing with the subordination department!
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
Jcaf, I agree, but I also think they should go prepared. "Hey HSBC, I am approved for $xx at xx interest rate with a payment amount of $xxx. Saving me approximately $xx a month in mortgage payments. Thus allowing more liquidity in funds for me to continue to make all my payments." Or something to that extent. Just calling them and saying are you up to subordinating my 2nd is not going to give HSBC any reason to say yes. JMHO :)
- Joe Cafiero, "Joe Cafiero"
- Contributions:3221
Tammy... I agree. I jsut would not start shelling money out for an appraisal and application fees before knowing if it cna be done.
- Nic Netherton, "Colorado Lender"
- Contributions:7219
Ya them wabbits they are elusive Tamm. Didn't respond last night as I was off to watch Prison Break and Boston Legal. GF was down stairs voting for Dancing with Stars so was doing anything to stay away.....
- Tammy Stockdale, "Colorado Mtg Broker"
- Contributions:6995
I believe they already have an appraisal though.
LOOKING FOR FHA LOAN
Ok I hope I'm doing this right. I live in Missouri. I have an existing adjustable 1st mortage (currently 8.5%) with Wells Fargo for $180,000. I have an adjustable 2nd mortgage (currently 12%) with HSBC for $29,000. My house appraised for $212,000 4 years ago, but now will appraise somewhere between $180,000 and 190,000. Both mortgages are currently in mine and my ex-husband's name. He quit-claimed the deed to me in our divorce three years ago. I have since re-married. My new husband has a credit score in the low 700's. My credit score is in the high 600's. I have never defaulted or been late in paying either mortgage. My new husband's income is $80,000 annually. My income is $12,000 annually. My current mortgages are betwen $2,100 and 2,300 per month. I would like to combine these loans at a fixed rate, or refinance one or both at a fixed rate to lower my monthly payments, and to remove my ex-husband's name from the financing of my house.
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