Answers (6)
Best Answer
- Justin Livingston, "JustinLivingston"
- Contributions:10
I would suggest a regular conforming loan. You should be able to find an amazing rate (assuming your credit scores are good)!
- Deborah Garvin, "DeborahGarvin"
- Contributions:449
Frankly, I am not able to provide any consumer with a "this is the loan for you" without doing the due diligence of comparison of loans and terms...and your goals. A lower payment may be in your best interest, and the highest on your goal list. However, a level or slightly higher payment, may be a better option if you want to live debt free in the future. Do you want to have a house payment "forever and ever" or do you want to live debt free? Is the lowest possible payment a priority? Or, is the lowest possible loan costs more important?
As a mortgage professional, I cannot give proper counsel unless I START with the clients goals and desires. Once those are known, I can mesh them the lending guidelines and requirements to provide the consumer with options that are possible.
I will be activating my Oregon license after the first of the year...in the meantime, I can provide a contact in my company (licensed) who has the same "consumer first" state of mind.
As a mortgage professional, I cannot give proper counsel unless I START with the clients goals and desires. Once those are known, I can mesh them the lending guidelines and requirements to provide the consumer with options that are possible.
I will be activating my Oregon license after the first of the year...in the meantime, I can provide a contact in my company (licensed) who has the same "consumer first" state of mind.
- Corri Klebaum, "NWMortgagePro"
- Contributions:233
There are many factors to consider...a rate quote, especially in this environment, will not serve you well. If you want an estimate that will hold water I would find a reputable loan officer to provide you with a quote following a complete loan application.
- johncr12
- Contributions:11
We owe zero! What would $135000 balance come to with a 20 Yr loan and at what rate APR? Our credit scores are above 750 according to one source. We do not carry credit for more than 30 days. We've been fortunate! I'm a vet but a VA loan is usually higher.
We started to do a refi back in june so we had an appraiser of lenders choice -appraise the property! We just put 70K into the property in upgrades. House is pristine!
We started to do a refi back in june so we had an appraiser of lenders choice -appraise the property! We just put 70K into the property in upgrades. House is pristine!
- Justin Coleman, "UtahLoanProfessional"
- Contributions:82
I would suggest a 20yr Conforming so that you do not add years to your loan and accelrate the pay off - what other debt do you have besides the mortgage?
- Corri Klebaum, "NWMortgagePro"
- Contributions:233
I would compare both HARP aka DU Refi pricing to Conventional. You could possibly get a waiver on the appraisal under HARP and avoid the expense of an appraisal.
Zillow valuation is not one I would hang my hat on... FYI.
Zillow valuation is not one I would hang my hat on... FYI.
Refi #135000 at a fixed rate on limited income [see below ]
PRESENTLY OUR PMT [PITI $1289/M ] AND WE HAVE 22 YR LEFT @ 5.625% ON 135K :
OUR TOTAL INCOME IS AS FOLLOWS: SS/M $2690. AND PENSION $1300/M OR A TOTAL INCOME $3990/M
WE CAN STAY WITH THE 5.65 LOAN OR ??REFI
Is there a loan that you can suggest for the above?
House was appraised out 6 months ago for $240000. Zillow appraises it for $220K
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