Zillow Advice RSS: Discussion,Mortgage,OH http://www.zillow.com/advice/OH/mortgage/discussion/ Zillow Advice search results | Zillow Real Estate LoC/HELOC on rental properties http://www.zillow.com/advice-thread/LoC-HELOC-on-rental-properties/515797/ I'm looking for a lender in the Northeast Columbus area that will give a line of credit/HELOC on two rental properties owned free and clear.&nbsp; Purpose of loan is for the purchase of an additional property.&nbsp; Anyone have any suggestions for lenders?&nbsp; Need about 45K out of properties worth 70K total.<br \><br \>1 reply Fri, 18 Oct 2013 17:45:00 GMT http://www.zillow.com/advice-thread/LoC-HELOC-on-rental-properties/515797/ 2013-10-18T17:45:00Z Credit Score of 541 Using CreditKama http://www.zillow.com/advice-thread/Credit-Score-of-541-Using-CreditKama/517862/ So I used CreditKarma to check my credit score so I'm not completely sure how accurate it is. But basically, I was wondering if anyone knows of any FHA lenders that would give me a loan with that low of a credit score and like 3% down? I have a co-signer, my fiance, but her credit score is around 515. I currently have an auto loan if that matters.<br/>I've had my current job for almost 3 years, and the job I had before that I held for 6 years. My fiance has had her job for 3 months and before that she held her job for 2 years.<br \><br \>5 replies Mon, 04 Nov 2013 16:10:00 GMT http://www.zillow.com/advice-thread/Credit-Score-of-541-Using-CreditKama/517862/ 2013-11-04T16:10:00Z Tax lien http://www.zillow.com/advice-thread/Tax-lien/515608/ I owe the IRS 3,600 with interest and penalties &nbsp;I actually owe 820.00..I am trying to get a mortgage through the Neighborhood Housing. &nbsp;I had a closing date of Oct. 25, 2013. &nbsp;Then they found that I had a tax lien. &nbsp;I have an Installment Agreement that I have been paying on time for 5 years or more. Is there anything I can do to settle this with the IRS? &nbsp;<br \><br \>5 replies Thu, 17 Oct 2013 03:09:00 GMT http://www.zillow.com/advice-thread/Tax-lien/515608/ 2013-10-17T03:09:00Z Mortgage for a foreclosure home--no plumbing, furnace... http://www.zillow.com/advice-thread/Mortgage-for-a-foreclosure-home-no-plumbing-furnace/512779/ A few years ago my husband and I were "window shopping" a few houses.&nbsp; We fell in love with a particular house--it was totally remodeled and perfect for our family.&nbsp; We ended up deciding to just stay in our home.&nbsp; Anyway, I was once again "window shopping" online the other night and came across that same house, selling for $60,000 less than 3 years ago.&nbsp; With the price tag so low, we knew something major had to be wrong with it.&nbsp; Hubby called the realtor today and they said it was a foreclosure...the people that owned it prior took the furnace, how water tank, central a/c unit, and all the copper pipes.&nbsp; Otherwise, it's in great shape apparently.&nbsp; My question...are there ANY lenders or programs out there that would finance this (asking price is $35,500), plus the amount needed to install everything they stripped the house of?&nbsp; We love this house and with a new furnace, etc, it most likely will be work over $100,000.&nbsp;<br \><br \>3 replies Tue, 24 Sep 2013 23:59:00 GMT http://www.zillow.com/advice-thread/Mortgage-for-a-foreclosure-home-no-plumbing-furnace/512779/ 2013-09-24T23:59:00Z need to buy a house....rental trap http://www.zillow.com/advice-thread/need-to-buy-a-house-rental-trap/507516/ How can I build up my credit when I pay $1200.00 plus utilities every month. in rent...I never get any credit. I been doing this for 4 years. all that money and nothing is mine...Need to buy a house<br \><br \>3 replies Mon, 19 Aug 2013 03:01:00 GMT http://www.zillow.com/advice-thread/need-to-buy-a-house-rental-trap/507516/ 2013-08-19T03:01:00Z REFI HELP RENTAL PROPERTY UNDER WATER? http://www.zillow.com/advice-thread/REFI-HELP-RENTAL-PROPERTY-UNDER-WATER/507353/ HELLO MY NAME AJ, I HAVE A RENTAL PROPERTY UNDER WATER, IT IS IN CLEVELAND OHIO. I HAVE 22 YEARS LEFT ON ,HOME IS WORTH ABOUT 40,000 OWE ABOUT 69,000. MY INTEREST RATE IS VARIABLE ARM, WHICH IS NOW 6.65%. OCWEN PURCHASED LOAN ABOUT 4 MONTHS AGO. IS THERE ANYWAY I COULD REFINANCE.MY CREDIT SCORES RANGE FROM 675-699. WOULD I BE ELIGABLE FOR ANY PROGRAMS. I REALLY NEED HELP!!!! THANK YOU<br \><br \>2 replies Sat, 17 Aug 2013 21:13:00 GMT http://www.zillow.com/advice-thread/REFI-HELP-RENTAL-PROPERTY-UNDER-WATER/507353/ 2013-08-17T21:13:00Z Understand your Credit Scores and how credit scores are built http://www.zillow.com/advice-thread/Understand-your-Credit-Scores-and-how-credit-scores-are-built/471276/ [Website removed by Zillow moderator. Please see our&nbsp;<a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm" style="text-align: right;">Good Neighbor Policy</a>.]<br \><br \>1 reply Fri, 14 Dec 2012 06:19:00 GMT http://www.zillow.com/advice-thread/Understand-your-Credit-Scores-and-how-credit-scores-are-built/471276/ 2012-12-14T06:19:00Z manufactured home on permanent foundation refinance in ohio http://www.zillow.com/advice-thread/manufactured-home-on-permanent-foundation-refinance-in-ohio/502778/ My house is located on 5 acres in Richwood, OH. It is a manufactured home on a permanent foundation. I have a structural certificate from when I bought it in 2009. I currently have a 30 FHA loan at 5.5%. I owe 114,000. The house appraised for 135,000 when I bought it in 2009. I would like to refinance it to get a little cash to pay off some bills. My current bank told me that they would only do a 20 year loan on the house and my payment would go up. I would like to extend my loan back out to 30 years and get my payment to go down. I have good credit and have never missed a payment. Is there anyone who will do this kind of refinance in Ohio?<br \><br \>1 reply Sat, 20 Jul 2013 18:52:00 GMT http://www.zillow.com/advice-thread/manufactured-home-on-permanent-foundation-refinance-in-ohio/502778/ 2013-07-20T18:52:00Z Self Construction Loan with 20% down (land+home) http://www.zillow.com/advice-thread/Self-Construction-Loan-with-20-down-land-home/498844/ Can anyone point me to a lender that will take down 20% down for self construction loan? I would like to be my own general contractor. Credit Score of 725. &nbsp;Down payment will cover 20% from the combined value of land+home. &nbsp;I know some lenders will accept paid off land as collateral for building a new home, but instead of collateral I provide 20% from the total estimated cost. Thanks<br \><br \>2 replies Tue, 25 Jun 2013 04:44:00 GMT http://www.zillow.com/advice-thread/Self-Construction-Loan-with-20-down-land-home/498844/ 2013-06-25T04:44:00Z Stuck on a mortgage until... http://www.zillow.com/advice-thread/Stuck-on-a-mortgage-until/496434/ My ex and I stayed on good terms after our divorce. I agreed that he could stay in the house and pay me for my half of the equity in installments over the course of two years. I also agreed to stay on the mortgage until the end of said two year period, and that I would sign a quitclaim deed. (In retrospect, I shouldn't have signed the quitclaim deed immediately, but what's done is done.)<br/><br/>The two year period will be up at the end of this month, at which point my ex is supposed to refinance and remove me from the mortgage. I'm beginning to look into buying a new house, so this action is crucial for me. However, he has been unemployed for this entire period (has continued to cover mortgage payments though), and is just now finishing school and looking for work. <br/><br/>What is the likelihood of him being refinanced anytime in the near future? Do banks often need an extensive employment history for refinancing? Am I stuck on this mortgage for months/years to come?<br/><br/>I plan to stop by the lending bank and ask these questions as well, but I thought I'd crowd-source for some thoughts. Thanks!<br \><br \>1 reply Mon, 10 Jun 2013 22:23:00 GMT http://www.zillow.com/advice-thread/Stuck-on-a-mortgage-until/496434/ 2013-06-10T22:23:00Z Will my loan be denied at underwriting? http://www.zillow.com/advice-thread/Will-my-loan-be-denied-at-underwriting/494573/ My loan for my home is supposed to go to underwriting today and I received an email from my LO that they "missed" my car payment in my DTI ratio and also thought that my student loans were being deferred. So now I am in a panic that it will be denied at underwriting. Here are some details: the mortgage DTI would be roughly 15% of my income and my DTI including my car payment and student loans and mortgage payment will be 39%. This is for an FHA loan....does anyone think it will still go through?!<br \><br \>4 replies Thu, 30 May 2013 13:29:00 GMT http://www.zillow.com/advice-thread/Will-my-loan-be-denied-at-underwriting/494573/ 2013-05-30T13:29:00Z What can I expect when buying my mother a home? http://www.zillow.com/advice-thread/What-can-I-expect-when-buying-my-mother-a-home/485614/ Hello -- I'm starting to do some research on buying my mother a home. I currently do not own a house, I would continue to rent (not in the same state as my mother). But she does not have a house, and prices in Cleveland are very affordable for me.<br/><br/>Ideally she will be paying some part of the mortgage, though not all of it.<br/><br/>What's the best way to go about doing this?<br/>Would this still be viewed as an "investment property?"<br/>What kind of obstacles will I face in a situation like this?<br/>Am I going to be taxed more/only get higher rates because I don't live in the house?<br/><br/>I would appreciate any advice or experiences that you could share...<br/><br/>Thanks!<br \><br \>5 replies Sun, 31 Mar 2013 05:33:00 GMT http://www.zillow.com/advice-thread/What-can-I-expect-when-buying-my-mother-a-home/485614/ 2013-03-31T05:33:00Z Foreclosure on home and an old second mortgage not filed correctly holding it up. http://www.zillow.com/advice-thread/Foreclosure-on-home-and-an-old-second-mortgage-not-filed-correctly-holding-it-up/490553/ When we bought our home the previous owners had a second mortgage on it. The loan was to be paid in the sale. Apparently, someone didn't file the paperwork properly but it was paid. Now they are foreclosing on our home and can't sell it due to the oversight. Do we have any recourse in this case that would allow us to prevent the foreclosure due to the improperly filed paperwork?<br \><br \>3 replies Thu, 02 May 2013 17:54:00 GMT http://www.zillow.com/advice-thread/Foreclosure-on-home-and-an-old-second-mortgage-not-filed-correctly-holding-it-up/490553/ 2013-05-02T17:54:00Z HUD House with plumbing problem http://www.zillow.com/advice-thread/HUD-House-with-plumbing-problem/484160/ I am trying to buy a HUD house. &nbsp;I'm in the process of getting the final appraisal done by the bank and getting the property de-winterized. &nbsp;However when the property was being de-winterized a leak was found.<br/>Due to this I can't get the water turned on so I can't get the final approval. &nbsp;This issue was just discovered and have filed for a 15 day extension. &nbsp;Do I have any options?<br \><br \>2 replies Fri, 22 Mar 2013 02:51:00 GMT http://www.zillow.com/advice-thread/HUD-House-with-plumbing-problem/484160/ 2013-03-22T02:51:00Z Home mortgage while 2.5 years left in H1B visa? http://www.zillow.com/advice-thread/Home-mortgage-while-2-5-years-left-in-H1B-visa/451173/ Hi,<br/>I am planning to apply for Home mortgage. I am in H1B visa. I &nbsp;have around 2.5 years left in my H1b visa. My company has just started GC application process.&nbsp;<br/>My credit score is good. Can I get a Home mortgage loan?<br/><br/>Thanks<br/>Kumaresh Kalaiselvam<br \><br \>6 replies Mon, 16 Jul 2012 11:58:00 GMT http://www.zillow.com/advice-thread/Home-mortgage-while-2-5-years-left-in-H1B-visa/451173/ 2012-07-16T11:58:00Z How to select the right Mortgage Lender http://www.zillow.com/advice-thread/How-to-select-the-right-Mortgage-Lender/471272/ Rate boards, such as the Zillow Mortgage Market Place, provide homeonwers with best case scenario rate quotes. Most lenders who advertize on rate boards will market very low rates and have access to very similar mortgage programs such as FHA, VA and Conventional. It's in the homewoner's best interest to contact and request customized options from at least 3 lenders in order to make an informed decision about refinancing or purchasing a home. Also, it's important that you feel 100% confident and comfortable with the loan officer who you work with. Based on your phone interactions with different loan officers, you will find that some loan officers are far more knowledgeable and trustworthy than others<br \><br \>3 replies Fri, 14 Dec 2012 05:22:00 GMT http://www.zillow.com/advice-thread/How-to-select-the-right-Mortgage-Lender/471272/ 2012-12-14T05:22:00Z FHA Streamline - Owner Occupied Now But Rental Later http://www.zillow.com/advice-thread/FHA-Streamline-Owner-Occupied-Now-But-Rental-Later/467215/ I currently live in my condo. I may want to rent it out in the spring, about six months from now. I want to do an FHA streamline now as an investment property, not as owner occupied, &nbsp;because I do not want to be subject to the 12 month residency clause. I will live there until it is rented in the spring. Can this be done? If so, who can help me? This is for a condo in Ohio. Thank you<br \><br \>1 reply Sun, 04 Nov 2012 13:32:00 GMT http://www.zillow.com/advice-thread/FHA-Streamline-Owner-Occupied-Now-But-Rental-Later/467215/ 2012-11-04T13:32:00Z investor http://www.zillow.com/advice-thread/investor/463768/ Hello looking for a investor for 1 year,i have 25k to put down and at this point looking for help can go fha in 7 months any help would be great thank you so much!!!!!<br \><br \>0 replies Fri, 12 Oct 2012 10:51:00 GMT http://www.zillow.com/advice-thread/investor/463768/ 2012-10-12T10:51:00Z bankrupcy http://www.zillow.com/advice-thread/bankrupcy/461867/ i recently filed chapter 7 wweeks ago, i kept my installment loan for my car and recently have been current with payments and a student government loan which is now current. if i stay current with these two loans for another year without default can i qualify for a morgage loan? im a first time buyer with a steady career. just need to rebuild credit<br \><br \>3 replies Fri, 28 Sep 2012 22:06:00 GMT http://www.zillow.com/advice-thread/bankrupcy/461867/ 2012-09-28T22:06:00Z Ask our community... http://www.zillow.com/advice-thread/Ask-our-community/461242/ I have a first $118,745 @7.94%and a second $13,955 @9.34% for a total of $132,700. I am current and paying $1132 a month. My house is worth between $130k and $125k. I have nothing to put down on it.<br \><br \>1 reply Mon, 24 Sep 2012 23:26:00 GMT http://www.zillow.com/advice-thread/Ask-our-community/461242/ 2012-09-24T23:26:00Z