Zillow Advice RSS: Discussion,Mortgage,KS http://www.zillow.com/advice/KS/mortgage/discussion/ Zillow Advice search results | Zillow Real Estate Looking for a home loan!! First time so not sure if i qualify? http://www.zillow.com/advice-thread/Looking-for-a-home-loan-First-time-so-not-sure-if-i-qualify/516282/ Hello I have some questions.. I am looking for a house , which i would want to know if I can qualify for a loan, except I am a part time worker. I get paid 9.00/ hour and work at least 35 hours a week. Im on my own currently renting paying $500 a month plus bills so I have decided i rather pay for a house that I will own rather than throw money at rent!! A couple of years ago I applied and they approved me for up to 80k But I was full time back then. I moved to another city and this was the best job I could find just not full time, so im sure it will make a difference now since im part time unfortunetely!! Help someone !!!<br \><br \>3 replies Tue, 22 Oct 2013 20:11:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-home-loan-First-time-so-not-sure-if-i-qualify/516282/ 2013-10-22T20:11:00Z Mortgage: Re-fi or pay to principle? http://www.zillow.com/advice-thread/Mortgage-Re-fi-or-pay-to-principle/512570/ Bought my house three months ago and paid 20% down. Now I'm receiving some gift money from my parent. It's about 30% of what the house is worth. If I pay it towards principle, will that bring down my monthly mortgage payment? Or it's better to just re-finance? Please help. Thanks!!!!!<br \><br \>7 replies Mon, 23 Sep 2013 19:39:00 GMT http://www.zillow.com/advice-thread/Mortgage-Re-fi-or-pay-to-principle/512570/ 2013-09-23T19:39:00Z Escrow used in refinance to pay mortgage registration tax http://www.zillow.com/advice-thread/Escrow-used-in-refinance-to-pay-mortgage-registration-tax/507791/ We just refinanced with the same mortgage company through a HARP mortgage. &nbsp;We were told there would be no closing costs to pay, not upfront and not rolled into the loan. &nbsp;However, when the final settlement statement came out at closing, $300 had been taken from our existing escrow account to pay state mortgage registration tax. &nbsp;They're answer was that we mis-understood when they told us the escrow account would be reviewed, and if additional was needed to fund our escrow, then that would be the only cost rolled into the loan. &nbsp;They're now saying that the escrow account is for taxes, and the mortgage registration was a tax.... therefore it comes from escrow or must be paid by the applicant and that we would have been paying this cost regardless of whether or not we refinanced our loan. &nbsp;I know the 2nd half of that (paying regardless) is not true. &nbsp;Can anyone tell me if paying mortgage tax is an allowable use of the escrow, and if there is a rule that mortgage taxes must be paid by the applicant? &nbsp;<br \><br \>1 reply Tue, 20 Aug 2013 18:30:00 GMT http://www.zillow.com/advice-thread/Escrow-used-in-refinance-to-pay-mortgage-registration-tax/507791/ 2013-08-20T18:30:00Z Seller pay closing + prepaids? Low cash options! http://www.zillow.com/advice-thread/Seller-pay-closing-prepaids-Low-cash-options/500343/ Our apartment lease will be up in December and we want to purchase a house, but we are getting married in September and will be using up a significant portion of our savings on the wedding. So saving up for the down payments, closing costs, and pre-paids seems like it's going to be impossible even for a very inexpensive house.&nbsp;<br/><br/>Here's an example:<br/>December total savings possible = $7500<br/>Desired minimum savings after purchase = $1500<br/>Mortgage amount: ~$90-110,000<br/>Down payment: 5%<br/>Closing costs: ~$2000<br/>Pre-paids: $1500-1800<br/><br/>Total cash needed w/o seller contribution: ~$9000<br/><br/>As you can see, that can't happen by December! However, I've heard that sometimes sellers will allow you to pay more for the house and in turn they will pay for closing costs. Can you also have the seller pay for prepaids?<br/><br/>In the case of a $100,000 home, we would need a down payment of $5000, but then if we could offer to pay $104,000 for the home, would most sellers be willing to pay for our closing costs and prepaids, allowing us to purchase the home with a total of $5200 cash(extra $200 from the added down payment to equal $104k)?<br/><br/>Thanks!<br \><br \>2 replies Thu, 04 Jul 2013 19:29:00 GMT http://www.zillow.com/advice-thread/Seller-pay-closing-prepaids-Low-cash-options/500343/ 2013-07-04T19:29:00Z Under-estimation on GFE by lender http://www.zillow.com/advice-thread/Under-estimation-on-GFE-by-lender/353318/ If a customer has a current mtg on file with our bank and wishes to change her terms and increase her loan amount&nbsp;and our lender issues a GFE and gives the full amount of transfer tax (instead of the difference bw the old mtg and the new mtg), is it okay that we&nbsp;OVER-stated the&nbsp;amount on the GFE&nbsp;or is this a zero tolerance fee as in no offage at all?<br \><br \>2 replies Wed, 09 Jun 2010 19:24:00 GMT http://www.zillow.com/advice-thread/Under-estimation-on-GFE-by-lender/353318/ 2010-06-09T19:24:00Z do i have to pay appraisal fee for fha before the lender process my mortgage loan http://www.zillow.com/advice-thread/do-i-have-to-pay-appraisal-fee-for-fha-before-the-lender-process-my-mortgage-loan/294340/ 5 replies Wed, 04 Nov 2009 14:15:00 GMT http://www.zillow.com/advice-thread/do-i-have-to-pay-appraisal-fee-for-fha-before-the-lender-process-my-mortgage-loan/294340/ 2009-11-04T14:15:00Z FHA 203k Loan http://www.zillow.com/advice-thread/FHA-203k-Loan/259565/ I have a contract on my first home after looking at around 50 houses over the past two months.&nbsp; My agent recommended a woman who supposedly "specializes" in the 203k because I've specifically been looking for a house that needed some remodeling work done.&nbsp; Now that I've found a house and she's preparing the paperwork to send to the underwriter, she just told me today that I can't be compensated for my labor if I do the work!!!&nbsp; ...Needless to say I am beyond Pissed!&nbsp; Is there any possible way to get paid for labor under the 203k if my remodeling company does the work?&nbsp; I am licensed and have 20+ years experience.<br \><br \>13 replies Thu, 23 Jul 2009 04:52:00 GMT http://www.zillow.com/advice-thread/FHA-203k-Loan/259565/ 2009-07-23T04:52:00Z