Zillow Advice RSS: Discussion,Mortgage,MA http://www.zillow.com/advice/MA/mortgage/discussion/ Zillow Advice search results | Zillow Real Estate Finding a Lender Using FHA's Construction-to-Permanent Loan Product http://www.zillow.com/advice-thread/Finding-a-Lender-Using-FHA%27s-Construction-to-Permanent-Loan-Product/509396/ Hi there, <br/><br/>My husband and I are hoping to buy land and build a home using the FHA's Construction-to-Permanent Loan product. The problem? I can't find anyone in my area that has even heard of the program! I called HUD and they directed me to their online database that 1) is outdated and 2) does not filter using this loan as an option. I've called over 15 mortgage companies/banks on this list and none have even heard of the product. Any direction as to who may have this would be very helpful! I am in Hanson, Massachusetts.<br/><br/>Thanks so much!!!!<br \><br \>9 replies Sat, 31 Aug 2013 12:01:00 GMT http://www.zillow.com/advice-thread/Finding-a-Lender-Using-FHA%27s-Construction-to-Permanent-Loan-Product/509396/ 2013-08-31T12:01:00Z Getting jumbo loan with 10% down payment ? http://www.zillow.com/advice-thread/Getting-jumbo-loan-with-10-down-payment/509294/ Any experience or suggestion or thought ?How to get jumbo loan (600000 property. Value) with down payment of 10%<br \><br \>7 replies Fri, 30 Aug 2013 15:49:00 GMT http://www.zillow.com/advice-thread/Getting-jumbo-loan-with-10-down-payment/509294/ 2013-08-30T15:49:00Z want to either sell or rent our house and buy a cheaper house http://www.zillow.com/advice-thread/want-to-either-sell-or-rent-our-house-and-buy-a-cheaper-house/399439/ Okay, so our house has lost a lot of value since we bought during the boom years. Luckily, we are not quite underwater, but close to it. Also, we own an antique house and it is harder to sell than a newer home. Selling it would take a long time if we could even get a buyer (not much is moving where we are in MA). We are wondering whether we should do a sale by owner (which would allow us to keep the price lower and make it somewhat more likely to sell ) or whether we should go for buying a cheaper, more affordable home we've been thinking of. We bought our current house for 230k, it's worth about 175 to 180 now, we owe 168 on it. Our income is 90k salary and 10k in almost guaranteed bonuses. We pay 1272 for mortgage and taxes, 0 credit card debt, 0 car loans, but a window loan for 364/month.&nbsp; We pay 600 for private schools for kids (town schools here suck), but we would drop this to 0 if we moved to this other house in a better town. Price of other home is 85k but it is a short sale (could be a real pain)...Reason for doing this: We feel we pay out more than it is worth to stay here (private schools etc..) when we could pay out a lot less (0 for schools and about 650 for mortgage instead of 1272)..What would you do??? Thanks for help!<br \><br \>9 replies Wed, 18 May 2011 02:04:00 GMT http://www.zillow.com/advice-thread/want-to-either-sell-or-rent-our-house-and-buy-a-cheaper-house/399439/ 2011-05-18T02:04:00Z I am refinancing and wanted to know if I should I lock on 20 year filxed at 4.25% with 0 closing cos http://www.zillow.com/advice-thread/I-am-refinancing-and-wanted-to-know-if-I-should-I-lock-on-20-year-filxed-at-4-25-with-0-closing-cos/375372/ 24 replies Thu, 18 Nov 2010 01:16:00 GMT http://www.zillow.com/advice-thread/I-am-refinancing-and-wanted-to-know-if-I-should-I-lock-on-20-year-filxed-at-4-25-with-0-closing-cos/375372/ 2010-11-18T01:16:00Z Mortgage Options with BK Discharge 5 Yrs) Foreclosure 16 months old & 20% down http://www.zillow.com/advice-thread/Mortgage-Options-with-BK-Discharge-5-Yrs-Foreclosure-16-months-old-20-down/513485/ What options do I have for mortgage with credit score of 680 - 720, bk discharged 5 yrs ago but foreclosure on one of my properties didn't happen until May 2012 meaning still need 17 months before I can qualify for FHA loans. Any ideas would be great even at a ridiculous interest rate found a home that may make it worth it.<br \><br \>5 replies Mon, 30 Sep 2013 01:38:00 GMT http://www.zillow.com/advice-thread/Mortgage-Options-with-BK-Discharge-5-Yrs-Foreclosure-16-months-old-20-down/513485/ 2013-09-30T01:38:00Z how do I find out value of my property http://www.zillow.com/advice-thread/how-do-I-find-out-value-of-my-property/404084/ 5 replies Sun, 19 Jun 2011 22:04:00 GMT http://www.zillow.com/advice-thread/how-do-I-find-out-value-of-my-property/404084/ 2011-06-19T22:04:00Z second fha loan http://www.zillow.com/advice-thread/second-fha-loan/515732/ I'm looking to sell my home which is a FHA loan if I sell it would I be able to buy another house with a FHA loan<br \><br \>8 replies Fri, 18 Oct 2013 01:22:00 GMT http://www.zillow.com/advice-thread/second-fha-loan/515732/ 2013-10-18T01:22:00Z US citizen overseas needing mortgage financing http://www.zillow.com/advice-thread/US-citizen-overseas-needing-mortgage-financing/513441/ Hi,<br/><br/>I am a US citizen working overseas wanting to buy a $150k - $200k home in MA. &nbsp;I have 20% of the higher amount for a down payment, fairly good credit, and this would be 2nd home / investment property - depending on requirements. &nbsp;I am looking for someone who can connect me with financing.&nbsp;<br/><br/>Thanks,<br/><br/>Tucker<br \><br \>4 replies Sun, 29 Sep 2013 18:49:00 GMT http://www.zillow.com/advice-thread/US-citizen-overseas-needing-mortgage-financing/513441/ 2013-09-29T18:49:00Z jumbo loans http://www.zillow.com/advice-thread/jumbo-loans/512414/ I plan on buying a house in Boston area soon. I have accumulated a large amount of cash through investments and the sale of a house I bought when the prices bottomed out in FL. My annual income is not so high 75-80K a year and I am looking for houses around close to 600K but I plan on making a 40-45% down payment. My question is do I still need to borrow at a jumbo loan rate or can I still borrow at a normal rate since my down payment takes my loan below the jumbo threshold.<br \><br \>7 replies Sun, 22 Sep 2013 16:55:00 GMT http://www.zillow.com/advice-thread/jumbo-loans/512414/ 2013-09-22T16:55:00Z Ask our community... http://www.zillow.com/advice-thread/Ask-our-community/508093/ <p>IM CURRENTLY IN A HOME PURCHASE AND I AMENDED MY RETURN BUT NEED THEM TO BE POSTED BEFORE LENDER PULLS 4506. IS THERE AWAY TO GET A LENDER TO APPROVE LOAN IF CPA AMENDED TAXES.</p><br \><br \>2 replies Thu, 22 Aug 2013 14:41:00 GMT http://www.zillow.com/advice-thread/Ask-our-community/508093/ 2013-08-22T14:41:00Z Refinance my condo with low owner occupancy http://www.zillow.com/advice-thread/Refinance-my-condo-with-low-owner-occupancy/476955/ I just went through trying to refinance my condo. I have great loan/value at around 70-75% and good income. The condo is in great shape. Found the rate I wanted at 3.6% and got pre-qualified and I expected the refi to go through without a hitch.<br/><br/>I was denied last minute because the condo complex is only 43% owner occupied. I guess a lot of the condo owners rent out their units.<br/><br/>I have since than talked to a few other lenders who all say it will be impossible to refinance my condo. SERIOUSLY? This owner occupied rate is something completely out of my control.<br/><br/>What is more worrisome is if I need to sell this condo at some point. I will have nobody able to buy it, right? What kind of buyer will be able to buy if they cannot qualify for a loan because of this stupid guideline?<br/><br/>So my questions are:<br/>1. Is there some way I can refinance and how? I'm looking for direct references here and I'm in the Boston area.<br/>2. Am I ultimately going to be forced to rent out this property forever just like the majority of the complex? Sounds like a normal buyer will never be able to qualify for a loan.<br/><br \><br \>3 replies Fri, 01 Feb 2013 23:11:00 GMT http://www.zillow.com/advice-thread/Refinance-my-condo-with-low-owner-occupancy/476955/ 2013-02-01T23:11:00Z Isn't it standard operating procedure to apply mortgage payments to interest and then principal? http://www.zillow.com/advice-thread/Isn%27t-it-standard-operating-procedure-to-apply-mortgage-payments-to-interest-and-then-principal/493145/ 7 replies Mon, 20 May 2013 17:22:00 GMT http://www.zillow.com/advice-thread/Isn%27t-it-standard-operating-procedure-to-apply-mortgage-payments-to-interest-and-then-principal/493145/ 2013-05-20T17:22:00Z Should I refinance or does it make sense to refinance? http://www.zillow.com/advice-thread/Should-I-refinance-or-does-it-make-sense-to-refinance/489042/ Current Mortgage Amount -- $146,000<br/>Current APR - 4.25%<br/>Amortization schedule to pay off is 7 yrs left...<br/>Should I refinance if I get a low APR?<br \><br \>4 replies Mon, 22 Apr 2013 20:06:00 GMT http://www.zillow.com/advice-thread/Should-I-refinance-or-does-it-make-sense-to-refinance/489042/ 2013-04-22T20:06:00Z 2 mortgages - refinance? http://www.zillow.com/advice-thread/2-mortgages-refinance/177909/ Hello,<br/><br/>I have 2 <a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/">30 year fixed</a> rate <a href="http://www.zillow.com/mortgage/">mortgages</a>. One for approx. $280k at 61/8% and one for $50k at 71/4. We bought in 2006 and have been paying double on the 2nd to pay down principal. We would like to move in to a bigger house but of course are afraid we are going to lose like $50k at least on the current home. Do we take a chance and hope for a turnaround on the next house while taking the hit on the current?<br/><br/>If we decide to stay, should we refinance? How do we know when the best time to do it is? and what are the gotchas we should look for? Thanks.<br/><br/>Kevin <br/><br \><br \>5 replies Wed, 17 Dec 2008 15:06:00 GMT http://www.zillow.com/advice-thread/2-mortgages-refinance/177909/ 2008-12-17T15:06:00Z not able to refi http://www.zillow.com/advice-thread/not-able-to-refi/481800/ I have a 30 year loan at 6.75% with PMI built into the loan.&nbsp; I want to refi to a 10 year loan, as I now make more money, but Countrywide did the loan and with the property underwater BoA will not allow us to refi, as the loan is securitized and with Fannie Mae.&nbsp; Even if I was able to get a 15 year loan, the P&amp;I is the same as what I"m paying now and I would be out from being underwater in no time.&nbsp; Am I stuck paying interest for the rest of my life or until home values come backup? I have never missed a payment and always pay in advance too.&nbsp;<br \><br \>7 replies Thu, 07 Mar 2013 22:37:00 GMT http://www.zillow.com/advice-thread/not-able-to-refi/481800/ 2013-03-07T22:37:00Z What can I do to get more (or better) quotes for my loan request ZR-DLFRQSB? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-DLFRQSB/480798/ what if my score is 620<br \><br \>2 replies Fri, 01 Mar 2013 00:58:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-DLFRQSB/480798/ 2013-03-01T00:58:00Z Bank Refuses to Accept Appraisal Done for Home Equity Loan to Cancel PMI! http://www.zillow.com/advice-thread/Bank-Refuses-to-Accept-Appraisal-Done-for-Home-Equity-Loan-to-Cancel-PMI/478747/ I have an appraisal from my bank (which they requested and paid for) used to determine equity for a home equity loan. Based on this appraisal, I own more than 20% of the home so I should not have to pay PMI anymore. However, the bank refuses to accept the appraisal used for the home equity loan. Do I have any grounds to challenge their decision? Are there different types of appraisals, based on the transaction you want to make?&nbsp;<br/><br/>Thanks!<br \><br \>2 replies Fri, 15 Feb 2013 14:38:00 GMT http://www.zillow.com/advice-thread/Bank-Refuses-to-Accept-Appraisal-Done-for-Home-Equity-Loan-to-Cancel-PMI/478747/ 2013-02-15T14:38:00Z Cancel PMI with Appraisal Done by Bank for Home Equity Loan? http://www.zillow.com/advice-thread/Cancel-PMI-with-Appraisal-Done-by-Bank-for-Home-Equity-Loan/478662/ Hello,&nbsp;<br/><br/>I have been approved for a home equity loan by my bank, where I also have my 1st mortgage. For the HEL they actually paid for a new appraisal, and the value came out high enough, that I only owe 79.5% of the new home value. Can I ask the bank to readjust my loan to value ratio and cancel PMI based on this appraisal?&nbsp;<br/><br/>Thanks<br/><br \><br \>2 replies Thu, 14 Feb 2013 21:07:00 GMT http://www.zillow.com/advice-thread/Cancel-PMI-with-Appraisal-Done-by-Bank-for-Home-Equity-Loan/478662/ 2013-02-14T21:07:00Z Down Payment $ http://www.zillow.com/advice-thread/Down-Payment/478284/ <p>What is the best option or smartest approach to come up with 60k of cash for down payment in 5 months? Would I best served to take a loan from one set of parents or do we just explore gift options from both? Or&nbsp;should we just have&nbsp;one set of parents sign is non-occupant&nbsp;borrowers?&nbsp;My wife and I make a combined 250k per year and both have credit scores of 750+. We currently owe 355k on a house that will sell (FSBO) for roughly 400k... hopefully netting us 45k towards down payment. We'll have 25k in cash come this summer and have caught wind of a house that we can buy without realtor in town. The purchase price of the house will be around 600k. I have already leveraged a loan against my 401k for down payment on our 2nd home so that is not an option. We have been looking / waiting for the "right house" for 3 years now. Other than saving for a few more months or years how can I creatively and in the least costly way borrow these funds to come up wtih a "legit" down payment in the eyes of a lender. I realize the caps involved with gifted monies so obviously there is a cap there to deal with. Are there such loan offerings&nbsp;that would allow non-occupancy coborrowers to put half of the down payment?</p><br \><br \>3 replies Tue, 12 Feb 2013 04:44:00 GMT http://www.zillow.com/advice-thread/Down-Payment/478284/ 2013-02-12T04:44:00Z Looking to do 10% down in Mass http://www.zillow.com/advice-thread/Looking-to-do-10-down-in-Mass/435085/ Hi,<br/><br/>We are looking to purcahse a house and the loan would be 550. Is it possiable to do 10% anymore? The mortgage people we had talked to said that they only do 20%. Wondering if anyone has advice.&nbsp;<br/><br/><br \><br \>5 replies Wed, 14 Mar 2012 00:42:00 GMT http://www.zillow.com/advice-thread/Looking-to-do-10-down-in-Mass/435085/ 2012-03-14T00:42:00Z