Zillow Advice RSS: Question,Mortgage,Tampa- FL http://www.zillow.com/advice/Tampa-FL/mortgage/question/ Zillow Advice search results | Zillow Real Estate Removing MIP from FHA loan...possible without refi? http://www.zillow.com/advice-thread/Removing-MIP-from-FHA-loan-possible-without-refi/592958/ Purchased home September 2013 on 30 year fixed FHA. Recently did streamline FHA streamline to lower rate and payment.<br/><br/>Today, a friend encouraged me to get an appraisal as a number of homes have sold well in my neighborhood lately and although I've only knocked off around $10k from principal on my original loan amount- I'd be close to 80/20. Loan value is $218k and Zillow shows $288k. I know Zestimates aren't the bible for RE pricing, but I do feel my home was underappraised when I originally purchased because there were few, if any, comparables in a close range of my home. I feel like the appraiser just "winged it" and coincidentally match the appraisal price to my purchase price he had in front of him. Since then, remodeled homes have sold well and quite a few older homes have been knocked down with larger ones built in place. I have one of the largest homes and lots in my neighborhood my a good margin, although I know that isn't always a good thing.<br/><br/>I thought I was locked into MIP for the life of my FHA loan unless I refinanced into conventional, no matter the LTV ratio.<br/><br/>Who is right? Is there some sort of loophole possible without refinancing since I just did that?<br \><br \>6 replies Thu, 25 Jun 2015 22:55:00 GMT http://www.zillow.com/advice-thread/Removing-MIP-from-FHA-loan-possible-without-refi/592958/ 2015-06-25T22:55:00Z Contacted Mortgage Broker Provided everything needed... and http://www.zillow.com/advice-thread/Contacted-Mortgage-Broker-Provided-everything-needed-and/592886/ I was told on a 400k home my Debt ratio would be 13.66&nbsp; she said this is excellent. I provided bank statements etc..,&nbsp; taxes for last 2 years for me and my business, current business profit loss report, IRA statement etc.. I noticed in the morning i received a credit alert that a hard inquiry had happened. and it said -4 down to 813.. Did this start my 30 day window for shopping for mortgages? I don't have a home in my horizon yet, seems market here in tampa and surrounding area's is very weak for what i am looking for in the 400-550k&nbsp; range.<br \><br \>9 replies Thu, 25 Jun 2015 15:49:00 GMT http://www.zillow.com/advice-thread/Contacted-Mortgage-Broker-Provided-everything-needed-and/592886/ 2015-06-25T15:49:00Z I am looking for refi options for a non-warrentable condo in Tampa, FL. Any suggestions would great. http://www.zillow.com/advice-thread/I-am-looking-for-refi-options-for-a-non-warrentable-condo-in-Tampa-FL-Any-suggestions-would-great/591772/ <p>The unit is non-warrentable because a single investor owns more than 10% of the units in the complex. I recently moved because of a job change, so this unit is officially referred to as an investment property. I current owe around $57K, and the value of the condo is $73K. (I do have some cash to bring to the table if the LTV needs to be lowered.) I have hard money financing on it currently. I have called the traditional portfolio lenders in Tampa - Pilot, C1, USAmeribank - with no luck. I have an excellent credit rating.</p><br \><br \>5 replies Wed, 17 Jun 2015 21:05:00 GMT http://www.zillow.com/advice-thread/I-am-looking-for-refi-options-for-a-non-warrentable-condo-in-Tampa-FL-Any-suggestions-would-great/591772/ 2015-06-17T21:05:00Z Looking for an FHA 203K Streamline or traditional FHA temple terrace fl, http://www.zillow.com/advice-thread/Looking-for-an-FHA-203K-Streamline-or-traditional-FHA-temple-terrace-fl/520526/ Me and my fiance are first time home buyers looking in Temple Terrace, credit scores EQ 584 TU 630 and fiance TU 621 EQ 613. We have located two homes both foreclosures and Fannie Mae homepath approved. Our combined annual income is 65,000 and we have no outstanding collections or judgments. The home prices are both around 170k and our current debt is minimal, under 5k combined. We need to move quick as out rental lease is nearing its end and we do not want to continue to wast money away on rent. We have 12 month rental history of on time payments of $1400. We currently have 5500 to put down but will have over 15k in Feb. Anyone that thinks they can help please contact me.<br \><br \>14 replies Mon, 02 Dec 2013 02:13:00 GMT http://www.zillow.com/advice-thread/Looking-for-an-FHA-203K-Streamline-or-traditional-FHA-temple-terrace-fl/520526/ 2013-12-02T02:13:00Z I own my home no mortgage trying to get a loan cash out for some home Improvement http://www.zillow.com/advice-thread/I-own-my-home-no-mortgage-trying-to-get-a-loan-cash-out-for-some-home-Improvement/591384/ 6 replies Mon, 15 Jun 2015 18:19:00 GMT http://www.zillow.com/advice-thread/I-own-my-home-no-mortgage-trying-to-get-a-loan-cash-out-for-some-home-Improvement/591384/ 2015-06-15T18:19:00Z Does anyone have a resource for a home loan given a Chapter 7 Bankruptcy filing? http://www.zillow.com/advice-thread/Does-anyone-have-a-resource-for-a-home-loan-given-a-Chapter-7-Bankruptcy-filing/591440/ 4 replies Mon, 15 Jun 2015 23:44:00 GMT http://www.zillow.com/advice-thread/Does-anyone-have-a-resource-for-a-home-loan-given-a-Chapter-7-Bankruptcy-filing/591440/ 2015-06-15T23:44:00Z how do lenders feel about intra family property sales? http://www.zillow.com/advice-thread/how-do-lenders-feel-about-intra-family-property-sales/588666/ My parents own a properties LLC which they often flip houses. In my search for my first time home I am finding a lack of inventory and am seeking alternative options. Do lenders shy away from intra family sales? or are there problems that could arise from it ( lets say for example the house was priced and appraised at the exact amount I was seeking lender financing or less).<br \><br \>7 replies Wed, 27 May 2015 19:52:00 GMT http://www.zillow.com/advice-thread/how-do-lenders-feel-about-intra-family-property-sales/588666/ 2015-05-27T19:52:00Z Medical Collections disputed and FHA Loan http://www.zillow.com/advice-thread/Medical-Collections-disputed-and-FHA-Loan/587094/ If I have $18k in Medical collections that were disputed a year or two ago, but still show on repute with dispute comments, do they need to be taken out of dispute for FHA? &nbsp;I am told if I remove the dispute it will lower my scores, and I am already on the mid 600s so I dont want them dropping anymore. &nbsp;<br \><br \>6 replies Sat, 16 May 2015 01:49:00 GMT http://www.zillow.com/advice-thread/Medical-Collections-disputed-and-FHA-Loan/587094/ 2015-05-16T01:49:00Z Medical Collections and FHA Loan http://www.zillow.com/advice-thread/Medical-Collections-and-FHA-Loan/587027/ I am told that FHA Loans disregard medical collections completely, is that correct? &nbsp;I have $15,000 in collections, all medical. &nbsp;I am trying to buy FHA. &nbsp;DTI/employment history/down payment is no issue. &nbsp;I also have charge offs that are all 3+ years old, with late payments from then as well. &nbsp;I am told that these are disregarded if over 1 year. &nbsp;Credit scores are between 630 and 650.<br \><br \>12 replies Fri, 15 May 2015 16:55:00 GMT http://www.zillow.com/advice-thread/Medical-Collections-and-FHA-Loan/587027/ 2015-05-15T16:55:00Z Just refinanced- can I sell and buy new with FHA? http://www.zillow.com/advice-thread/Just-refinanced-can-I-sell-and-buy-new-with-FHA/587058/ Assuming scores, income etc are good, how soon after a refinance of an FHA loan can I sell and buy a new house with FHA? &nbsp;We refinanced a couple months ago, and we are now considering moving to a different area. &nbsp;Made our first payment on the new loan April 1st. &nbsp;Lender is saying we have to have made 6 payments to that loan before we can pay it off and buy another. &nbsp;Is this correct?<br \><br \>7 replies Fri, 15 May 2015 20:10:00 GMT http://www.zillow.com/advice-thread/Just-refinanced-can-I-sell-and-buy-new-with-FHA/587058/ 2015-05-15T20:10:00Z 10-15% down jumbo construction to perm loans in FL? http://www.zillow.com/advice-thread/10-15-down-jumbo-construction-to-perm-loans-in-FL/576193/ Are there any lenders offering 10-15% down down construction-to-perm loans in FL that exceed the $17k mark?&nbsp; It looks as if the land and house together will come in around the $525-550k mark.&nbsp; We bought the land a year back for $130k and have $40k equity in it as of now.&nbsp; The home will be around $400k on its own.&nbsp; <br/>We have about $55k in cash and equity currently and would like to get moving before having to save up another $55k to hit the typical 20% down mark.&nbsp; Also looking for the perm loan to be fixed rate.<br/><br/>Thanks - Jason<br \><br \>2 replies Wed, 18 Feb 2015 20:27:00 GMT http://www.zillow.com/advice-thread/10-15-down-jumbo-construction-to-perm-loans-in-FL/576193/ 2015-02-18T20:27:00Z why has Zillow changed their Websites from informal browsing to something that is not useful to any http://www.zillow.com/advice-thread/why-has-Zillow-changed-their-Websites-from-informal-browsing-to-something-that-is-not-useful-to-any/575640/ Why have you ruined your websites to the point that they are useless.<br \><br \>4 replies Fri, 13 Feb 2015 23:10:00 GMT http://www.zillow.com/advice-thread/why-has-Zillow-changed-their-Websites-from-informal-browsing-to-something-that-is-not-useful-to-any/575640/ 2015-02-13T23:10:00Z Renovation loan for Homepath property http://www.zillow.com/advice-thread/Renovation-loan-for-Homepath-property/556896/ Could anyone inform me about which lenders offer renovation, or Homepath loans in Florida.<br \><br \>18 replies Thu, 28 Aug 2014 03:07:00 GMT http://www.zillow.com/advice-thread/Renovation-loan-for-Homepath-property/556896/ 2014-08-28T03:07:00Z Looking for a Mortgage Broker that is familiar with Down Payment Assistance programs in Tampa, Fl http://www.zillow.com/advice-thread/Looking-for-a-Mortgage-Broker-that-is-familiar-with-Down-Payment-Assistance-programs-in-Tampa-Fl/573994/ <p class="MsoNormal">My wife and I are currently thinking of jumping back into home ownership. I was researching available grants and down payment assistance for the purchase of a home in Hernando County Florida. We are at the very beginning of this journey and are seeking the help of a professional to help explain our options.&nbsp;Here's a brief history; we moved to Florida 4 years ago from Ohio and currently rent ($1300 monthly). I was forced into disability retirement in January of 2009 due to an illness. In August of that year we lost our home due to&nbsp;filing Bankruptcy. The bankruptcy occurred due to the lengthy approval process from Social Security and my pension plan. Our discharge date was Dec. 2009, but the home didn't sell at auction til May of 2013.&nbsp;With that said, here's our current situation. My gross income is $56,000 a yr. and my wife is currently unemployed. We have 2 car payments totaling $500 a month, one of which will be paid off in 9 months. We have 3 credit cards that have $2500 limits each that we try to keep at a zero Balance. We have minimal savings due to some unforeseen expenses over the last year and a half.&nbsp;We have worked very hard to repair our credit report and currently have scores in the 685 to 700 range. Our credit cards say our FICA scores are 656 to 686.</p><br \><br \>1 reply Fri, 30 Jan 2015 17:46:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-Mortgage-Broker-that-is-familiar-with-Down-Payment-Assistance-programs-in-Tampa-Fl/573994/ 2015-01-30T17:46:00Z Please contact me. I have already been approved for VA loan up to 240,000 but I would like to get a http://www.zillow.com/advice-thread/Please-contact-me-I-have-already-been-approved-for-VA-loan-up-to-240-000-but-I-would-like-to-get-a/571878/ Please contact me. I have already been approved for VA loan up to 240,000 but I would like to get a manufactured home and lot together.&nbsp; Veterans United Loans told me they don't do this type of loan and that its not available? Please advise, thanks. Tampa, FL<br \><br \>6 replies Sun, 11 Jan 2015 16:38:00 GMT http://www.zillow.com/advice-thread/Please-contact-me-I-have-already-been-approved-for-VA-loan-up-to-240-000-but-I-would-like-to-get-a/571878/ 2015-01-11T16:38:00Z Are there any lenders who are offering HELOC on investment properties with LTV 80%? http://www.zillow.com/advice-thread/Are-there-any-lenders-who-are-offering-HELOC-on-investment-properties-with-LTV-80/566864/ 4 replies Sun, 16 Nov 2014 21:57:00 GMT http://www.zillow.com/advice-thread/Are-there-any-lenders-who-are-offering-HELOC-on-investment-properties-with-LTV-80/566864/ 2014-11-16T21:57:00Z What is the "seasoning" period to refinance out of a new FHA loan into a standard loan? http://www.zillow.com/advice-thread/What-is-the-seasoning-period-to-refinance-out-of-a-new-FHA-loan-into-a-standard-loan/558986/ We just built our house in 2014, and we had to do an FHA loan due to student loans (FHA doesn't count deferrals of more than a year---husband working on masters).&nbsp; <br/><br/>With the house, we also purchased two acres of foreclosed on land that we got for $25,000, which was worth at least $60,000.&nbsp; We also did several upgrades not included in the bank appraisal's initial estimate from the engineered plans.&nbsp; House values have also gone up in the year we've been building.&nbsp; We feel if a new appraisal was done, we'd have more than 20% equity, as we already had 15% down when we modified to the fixed FHA loan a few months ago, after the house was completed.&nbsp; <br/><br/>Now that school loans are not an issue for us, we'd like to refinance out of an FHA loan into a standard loan as soon as possible due to the high PMI fees.&nbsp; <br/><br/>We want to know how long the "seasoning" period is before a new appraisal will be ordered, and the value for our equity will be determined by the new, actual value of the house instead of the purchase price.&nbsp; <br/><br/>Thank you for your help.<br \><br \>12 replies Fri, 12 Sep 2014 11:43:00 GMT http://www.zillow.com/advice-thread/What-is-the-seasoning-period-to-refinance-out-of-a-new-FHA-loan-into-a-standard-loan/558986/ 2014-09-12T11:43:00Z VA land home purchase http://www.zillow.com/advice-thread/VA-land-home-purchase/520126/ With a VA loan can you buy land from private party then have a new manufactured or a new modular home placed on the land? Hillsborough County Florida&nbsp;<br \><br \>3 replies Mon, 25 Nov 2013 23:46:00 GMT http://www.zillow.com/advice-thread/VA-land-home-purchase/520126/ 2013-11-25T23:46:00Z Student Loan Debt When Qualifying for a Mortgage http://www.zillow.com/advice-thread/Student-Loan-Debt-When-Qualifying-for-a-Mortgage/566274/ I have very high student loan debt, $200,000 from pursuing a PHD, however, after not getting a job in my field, I have been teaching for the past 4 years. The upside is that I am on the Income Based Repayment Plan so my payments are only 50.00 monthly instead of 1400 - 2000. I actually love teaching so I am not interested in changing careers and since my income is not going to go up, neither are my payments. I make 3400.00 a month and have no other debt except 2 credit cards that I pay $25.00 a month on for each one. Everything else is paid off. I would like to buy a house in the 150,000 range. Anyway, my question is: When a lender looks at my Debt to Income Ratio will they take into consideration what I am actually paying on my debt? Also, I have a FICO of 600 but can get it up to at least 640 by June. I would appreciate any advice you can offer. &nbsp;If it is not possible, I understand and at least I can stop fixating on trying to buy a house this summer. Please don't respond that I can buy with cash because if I had the cash, I wouldn't need a mortgage. &nbsp;Thank you :)<br \><br \>6 replies Tue, 11 Nov 2014 23:28:00 GMT http://www.zillow.com/advice-thread/Student-Loan-Debt-When-Qualifying-for-a-Mortgage/566274/ 2014-11-11T23:28:00Z Would i have a chance on being approved for a fha loan http://www.zillow.com/advice-thread/Would-i-have-a-chance-on-being-approved-for-a-fha-loan/381366/ <em>Hey how are you. Me and my wife are going to apply for a fha loan in three months. We make together 71,000 yearly. We have two car payments that total 852 monthly all crdit cards are at 0 but my wife has&nbsp;student loans&nbsp;that totals 17,000 we are not making payments yet because she is still in school but when there due we would have to pay 200 a month which totals 1050 monthly including the car payments those are our only bills. as far as credit my scores are 700,640 680 her scores are 620 630 625 i had past credit problems a couple years ago with three collection accounts all three accounts were paid about three years ago but nothing recently she has never had anything in collections and thats about it</em><br \><br \>23 replies Tue, 18 Jan 2011 20:22:00 GMT http://www.zillow.com/advice-thread/Would-i-have-a-chance-on-being-approved-for-a-fha-loan/381366/ 2011-01-18T20:22:00Z