Zillow Advice RSS: Question-Discussion-Guide,All Real Estate Advice Topics,Frederick- MD

What can I do to get more (or better) quotes for my loan request ZR-SXQPPZC?

Tue, 07 May 2013 16:34:00 GMT

Hi. I currently own a home, always current on my payments for my first ($376k) and second ($37k) mortgage since 2005 (and was a prior homeowner).
Since 2010, my income was reduced yearly about $30k, which made it much harder to pay off additional debt (such as credit cards). Now I am looking to refinance with my current lender, by my LTV ratio is not optimal. Also, coming up with the $12k to refinance is not an option.
Any suggestions? I am a veteran, and can acquire the COE for a VA loan if that would help.

2 replies

How do I post my house for sale on Zillow

Tue, 14 May 2013 01:36:00 GMT

Jeff Baker
bakerjef@hotmail.com

2 replies

need name of 55 plus homes community in Frederick county near westview movie theaters

Sun, 24 Mar 2013 11:17:00 GMT

don't know name of condos but begins with Fair...; field?

2 replies

5/1 ARMs without MI are not available?

Tue, 22 Jan 2013 00:01:00 GMT

I'm trying to decide how to refinance an FHA 5/1 ARM at 3.75% from May 2010 (UFMIP was 2.25%, MIP is 0.5%), and my choices are among the following:

1) FHA or conventional
2) 5/1 ARM or 15 yr fixed
3) stay at 95% LTV or borrow to get to 80% LTV (partially from savings, the rest either with a regular 2nd loan or 401k loan)

That produces a lot of potential combinations (8 i believe), but i was just told by a lender that a 5/1 ARM without MI isn't possible because that the market doesn't like ARMs without MI. Anybody agree/disagree?

The result would be that, from my perspective, putting 20% down isn't very beneficial on an ARM unless you're sitting on a load of cash.

Also, for conventional, can someone give me an idea of what the typical rate hit is for LPMI vs BPMI? what should the PMI rate look like for 95% LTV on a $240K home ($228K loan) for either a 5/1 ARM or 15 yr fixed and a credit score of about 705?

Thanks

4 replies

Want to refinance an FHA ARM to 15 fixed or another ARM

Tue, 15 Jan 2013 21:48:00 GMT

Hi, I bought a home in May 2010 with an FHA 5/1 ARM loan with 5% down and 3.75% rate, and I'm looking into refinancing, either to another ARM or 15 yr fixed. I've read HUD ML's 09-32 & 11-11 regarding streamline guidelines, and it appears that a 15 yr fixed streamline isn't possible right now due to the 5% payment decrease requirement (the 20% increase scenario seems to be gone as of 2011). That leaves the ARM as my only streamline option at this point (30 yr fixed refi wouldn't satisfy the requirement either, and it doesn't make financial sense for my scenario anyway).

However, i'm unclear as to whether there's a non-streamline option that might work for the 15 yr fixed. the difference between 0.6% and 1.25% on the MIP is the main reason i'm interested in the 15 yr. i've already been told i could get 2.75% with $0 closing costs on the 15 yr from the same lender that did my first mortgage (before it got transferred to WF)... but it was pending more research into whether the streamline rules would allow it. Does anyone know what my possibilities are here? thanks.

2 replies

How to properly price a rental?

Wed, 16 Jan 2013 15:18:00 GMT

3 replies

financing for House with leaking roof and basement

Wed, 09 Jan 2013 09:19:00 GMT

What kind of mortgage can I get if the roof and basement has leaks?

3 replies

Will any one being willing to rent without the credit check. High income and good references.

Sat, 11 Aug 2012 01:15:00 GMT

9 replies

Transfer Tax - FHA Streamline Refinance

Fri, 09 Nov 2012 05:39:00 GMT

I've currently started the process of a streamline refinance in the State of Maryland.
My new loan amount is $385,000
My payoff balance is approx. $383,000
It is a primary residence.
No one is being taken off or added to the title.

On the Good Faith Estimate that I was provided there was a transfer tax of $4,688!! The amount stood out and I've contacted the loan officer to find out what this is.

Can anyone please provide me with some advice and wisdom before I speak with the loan officer.

Thanks

4 replies

Looking for a HARP 2.0 lender working with PMI and a LTV greater than 125%

Thu, 31 May 2012 17:52:00 GMT

I've had three lenders tell me they can't help me and one specifically said that Fannie Mae's automated underwriting system gave my property an Expanded Approval finding. My credit is very good, I've never been late but cannot refinance. Does anyone know of a lender that successfully refinanced their property that is licensed in Maryland? The property has about $305k left on the mortgage and it is valued in the low $200k range.

10 replies

Is there refi help for people who have a 1st / 2nd mort. but not the 80% loan to equity?

Sun, 26 Aug 2012 17:44:00 GMT

I have a 1st Mortgage of $225K and HELOC of $198K and Zillow values my home at $404K (range of $352K - $473K). I have spoken to both banks and they need a loan to equity value of about 80% before either bank will consolidate the loans. Are there any programs or banks that will consider a higher (say 100%) loan to equity?

2 replies

How to find a portfolio lender?

Mon, 19 Jan 2009 06:49:00 GMT

I am looking for a portfolio lender. I don't know where to start...

21 replies

Would FHA streamline be worth it for me?

Thu, 02 Aug 2012 01:11:00 GMT

I closed on home in Aug 2009 using FHA. I missed out on the June 1 2009 deadline for the very low UFMIP and annual MIP premiums. I just started investigating an FHA streamline refinance and it looks like I would be hit hard by the new insurance costs. Refinancing now would save me something, but not much thanks to the new insurance rates. Would it be worth waiting to see if that June 1 2009 deadline gets moved forward, making me eligible for the lower premiums? What was the thinking in rewarding older mortgages and hitting everyone else so hard on premiums?

3 replies

How much for a good faith deposit amount

Sat, 03 Apr 2010 20:57:00 GMT

I'm looking at condos between 120k and 150k. My realtor recommends a good faith deposit amount of between 2k and 3k. I'm reading on Zillow in other discussions that people recommend about 1%, which would come to 1500 or less. What should I be looking to spend for this deposit?

6 replies

How can you correct a property's actual sold price?

Sat, 03 Mar 2012 01:24:00 GMT

I'm a listing agent for 1 of 4 units. Two of the 4 units do not reflect the correct sold prices. How can this be changed to reflect the tax record or MLS.

3 replies

The facts about my house are incorrect. How do I get this fixed

Fri, 06 Jan 2012 16:04:00 GMT

3 baths vs 1/2 baths listed- also missing information ( # of bedrooms) which I am sure affects the zillow pricing-

1 reply

Best approach to selling a lot off of a property zoned R3 on Braddock Heights in MD

Sat, 02 Jul 2011 19:49:00 GMT

we own a home on 1 1/3 plus acres, situated off of Rt. Alt.40 with traffic light access. The property is private, sitting behind the houses directly on the road, it is in the Middletown School District with easy access to I 70 & I 270 as well as all but walking distance of Middletown or Frederick. It is a long rectangular lot, the home sits slightly uphill on the back third which is protected by a buffer lot to Ridge Crest. A lovely, quiet pkace with ALL amenities close by.
We want to sell the front as a buildind site then take a reverse mortgage on the home itself. We think this would be the best approach to capitilzing this rather attractive property without undoing the feeling of the area. WE ALWAYS THOUGHT THE PROPERTY OFFERED A WONDERFUL OPPORTUNITY FOR ANYONE WISHING TO BUILD FOR Parents or Children and maintaining privacy

There is plenty of room for pet and summer parties ideas on best approach

2 replies

Can landlord have electric in his/her name cut if tenants are required to pay, but havent?

Wed, 06 Jul 2011 16:02:00 GMT

Maryland property
Landlord verbally advised tenants to have electric changed to their name over 30days prior to being cut
3 occassions where electric comp threatened to cut power due to non-payment

2 replies

Is it possible to get a VA loan for a $850K mortgage loan? 0 down to 5% down at most!

Thu, 09 Jun 2011 01:03:00 GMT

8 replies

VA Refinance

Mon, 02 May 2011 15:02:00 GMT

My wife and I currently have a VA home loan ( I am the veteran). We are in the process of seperating and getting a divorce. I would like to potentially refinance the home in my own name, maybe lower the monthly payment since I will be the single source of income, and somehow keep this with the VA home loan. How do I go about this process?

5 replies