Zillow Advice RSS: Question-Discussion-Guide,Mortgage,DE http://www.zillow.com/advice/DE/mortgage/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate New credit card inquiry when applying for a mortgage http://www.zillow.com/advice-thread/New-credit-card-inquiry-when-applying-for-a-mortgage/564609/ Hi everyone,<br/><br/>So I have sort of a weird situation. My boyfriend and I were pre approved for a mortgage a couple of weeks ago. We decided to switch mortgage brokers so we have to go through the application process again. His dad, for some unknown reason, opened up a credit card in his name over the weekend for $500 and spent $100. He is going to pay back the money he spent on it but I am wondering how this will affect our mortgage application. <br/><br \><br \>8 replies Tue, 28 Oct 2014 17:50:00 GMT http://www.zillow.com/advice-thread/New-credit-card-inquiry-when-applying-for-a-mortgage/564609/ 2014-10-28T17:50:00Z Not spam - please do not flag.Has anyone ever used CapWest Mortgage?experience good or bad? http://www.zillow.com/advice-thread/Not-spam-please-do-not-flag-Has-anyone-ever-used-CapWest-Mortgage-experience-good-or-bad/382236/ I have seen reviews on LendingTree.com, but I dont trust reviews from that site. I would like to hear more opinions, thank you in advance!<br \><br \>2 replies Mon, 24 Jan 2011 05:38:00 GMT http://www.zillow.com/advice-thread/Not-spam-please-do-not-flag-Has-anyone-ever-used-CapWest-Mortgage-experience-good-or-bad/382236/ 2011-01-24T05:38:00Z Do I have to have a lawyer to do a mortgage refinance? http://www.zillow.com/advice-thread/Do-I-have-to-have-a-lawyer-to-do-a-mortgage-refinance/292243/ I moved to DE 2 years ago and had to hire a lawyer to be involved with the process for reasons that still remain completely unclear to me.&nbsp; This is apparently a state law or regulation of some kind.&nbsp; I think it's ridiculous.&nbsp; Anyway, I am considering <a href="http://www.zillow.com/refinance/">refinancing</a> my <a href="http://www.zillow.com/mortgage/">mortgage</a> and I was told that I have to hire a lawyer AGAIN to do a simple re-fi.&nbsp; Is this true?<br \><br \>3 replies Wed, 28 Oct 2009 15:45:00 GMT http://www.zillow.com/advice-thread/Do-I-have-to-have-a-lawyer-to-do-a-mortgage-refinance/292243/ 2009-10-28T15:45:00Z FHA Short Refi http://www.zillow.com/advice-thread/FHA-Short-Refi/435185/ Bank of America is my the mortgage servicer on our 1st &amp; Chase is on our 2nd. We are well underwater on our home (over 140% LTV). We were reading about the FHA short refi. Is this something we would have to work through with BOA or do we apply with another co. &amp; then BOA is contacted for the principal reduction?<br \><br \>0 replies Wed, 14 Mar 2012 19:35:00 GMT http://www.zillow.com/advice-thread/FHA-Short-Refi/435185/ 2012-03-14T19:35:00Z Refinancing a condo. I have talked with different lenders to obtain refiancing for my condo and hav http://www.zillow.com/advice-thread/Refinancing-a-condo-I-have-talked-with-different-lenders-to-obtain-refiancing-for-my-condo-and-hav/230132/ <em><strong>&nbsp;been turned down.</strong>&nbsp; The reason they say is because the complex is new and not totally occupied and others in this same area are standing unoccupied.&nbsp; I had obtained a conventional <a href="http://www.zillow.com/mortgage/">mortgage</a> in March of 2008 for $181,000.00&nbsp; I was able to pay off some of this mortgage and now it is down to $90,000.00.&nbsp; My credit rating is excellent.&nbsp; I am on a fixed income and bringing my mortgage payments down to about half of what I am paying now sure would be a blessing.&nbsp; Any answers to this dilema?</em><br \><br \>5 replies Fri, 01 May 2009 21:15:00 GMT http://www.zillow.com/advice-thread/Refinancing-a-condo-I-have-talked-with-different-lenders-to-obtain-refiancing-for-my-condo-and-hav/230132/ 2009-05-01T21:15:00Z I have a 584 credit score can I be approved for a mortgage or should i wait until score goes up http://www.zillow.com/advice-thread/I-have-a-584-credit-score-can-I-be-approved-for-a-mortgage-or-should-i-wait-until-score-goes-up/431322/ It depends on how much you plan to put down. You can receive a mortgage with a middle score of 584 however with the proper steps you can easily raise your score over the 620 barrier. If your committed to doing so, I have no problem with assisting you throughout the process. I wish you well either way.<br \><br \>0 replies Wed, 08 Feb 2012 20:19:00 GMT http://www.zillow.com/advice-thread/I-have-a-584-credit-score-can-I-be-approved-for-a-mortgage-or-should-i-wait-until-score-goes-up/431322/ 2012-02-08T20:19:00Z Refinance help http://www.zillow.com/advice-thread/Refinance-help/481620/ Trying to refinance my home and I'm told my home loan exceeds my home value. What other options do I have to get a lower mortgage rate? My current rate is at a not fair percentage. Thank you for any assistance I can receive.<br \><br \>3 replies Wed, 06 Mar 2013 20:30:00 GMT http://www.zillow.com/advice-thread/Refinance-help/481620/ 2013-03-06T20:30:00Z Would I qualify as Owner Occupied? http://www.zillow.com/advice-thread/Would-I-qualify-as-Owner-Occupied/479235/ Hi Hypnotoad,<br/><br/>Sounds like you are asking if you can finance the new&nbsp;purchase&nbsp;as an Owner Occupied home, even though plan on renting out the units.<br/><br/>Sorry to be the bearer of bad news, but you will not be able to use Owner Occupied financing in this scenario, even though you plan&nbsp;to use the garage to house your car.&nbsp;<br/><br/>All the best,<br/>Ros<br/><br/>Roswell Moore, CMPS<br/>Certified Mortgage Planner<br/><br \><br \>0 replies Tue, 19 Feb 2013 06:22:00 GMT http://www.zillow.com/advice-thread/Would-I-qualify-as-Owner-Occupied/479235/ 2013-02-19T06:22:00Z can we get a mortgage with previous late mortgage payments? http://www.zillow.com/advice-thread/can-we-get-a-mortgage-with-previous-late-mortgage-payments/357760/ we have been in our home for 2 years my husbands job gave him pay cuts due to the economy - we applied for home modification thru Bank of America - they said we were approved gave us an amount to pay which we have and then told us we were still be looked at (it has been a real game) so now my husbands credit has been affected because we paying the modification amount every month and not the actual amount while they are still determining (which could take months now they say) so the last couple months he has been reported to the credit agency because we are not making total payment amount which is 1468.00 - we were told to make 1086.82 which we have.&nbsp; so we have now put the house on the market and want to get a cheaper mortgage.&nbsp; so if our house sells and we we buy a house for 150,000 and put 50,000 down would we still be able to get a new mortgage with our late payment history??&nbsp; But our new mortgage would be less then our modified rate that we have been paying on time to BAC and we would have the 50,000 down.&nbsp; Please let me know- can i get out???<br \><br \>2 replies Wed, 14 Jul 2010 15:58:00 GMT http://www.zillow.com/advice-thread/can-we-get-a-mortgage-with-previous-late-mortgage-payments/357760/ 2010-07-14T15:58:00Z What is the amount I can expect to be approved for? http://www.zillow.com/advice-thread/What-is-the-amount-I-can-expect-to-be-approved-for/481675/ Pull your own credit reports and FICO scores.&nbsp; Sit down with a mortgage broker and ask them for an opinion.&nbsp; You do not have to commit to having your credit pulled initially.&nbsp; An experienced broker should be able to give you advice.&nbsp; If it is possible to add your husband they will know.<br/><br/>It may be good advice to wait until you can get your husbands score up.&nbsp; The mortgage broker can look at his report and point out steps you can take to raise the score so his income can be added.<br/><br/>Besides income your combined debt will be a factor as to how much you can afford.<br \><br \>0 replies Thu, 07 Mar 2013 13:11:00 GMT http://www.zillow.com/advice-thread/What-is-the-amount-I-can-expect-to-be-approved-for/481675/ 2013-03-07T13:11:00Z mortgage approval http://www.zillow.com/advice-thread/mortgage-approval/517086/ <div style="text-align: left;"><strong>My credit rating is far from perfect (in the mid 600's), but I have good, steady income and savings that is worth approximately 500,000</strong>.&nbsp; <strong>I would like to flip a house.&nbsp; Does anyone know if there is a way for me to get a mortgage under these circumstances?&nbsp; I know I'll never get it using the standard methods.&nbsp;<br/> Thanks in advance.<br/></strong></div><br \><br \>6 replies Tue, 29 Oct 2013 00:15:00 GMT http://www.zillow.com/advice-thread/mortgage-approval/517086/ 2013-10-29T00:15:00Z Pre-approval on a mortgage question?? http://www.zillow.com/advice-thread/Pre-approval-on-a-mortgage-question/447605/ I submitted over the Wells Fargo website, per the advice of a mortgage consultant I'm dealing with, a pre-approval mortgage application. It is going on two weeks tomorrow. We are doing things by email for some reason. He pulled my husband and my credit report already and said my husbands is great but there is a $60 collection account from 2007 on mine(which must have just shown up because I just pulled it before we applied) and he said my credit is 639 and there are more restrictive rules under 640. That he doesn't know if I should pay it or not because it could have an opposite effect. I don't know why it would take this long to get an pre-approval letter. We are first time home buyers going for FHA. We only have about $8k to put down so maybe that's it but we have only a car payment which is 1 year left and 1 student loan for 3k we don't rent or own we live with parents so we have no bills. Our dti is like 20% if that. Should we ask someone else? Is this normal?<br \><br \>5 replies Wed, 20 Jun 2012 18:29:00 GMT http://www.zillow.com/advice-thread/Pre-approval-on-a-mortgage-question/447605/ 2012-06-20T18:29:00Z Property transfers. http://www.zillow.com/advice-thread/Property-transfers/193312/ I&nbsp;need to find the most economical way to remove a name from a mortgage.&nbsp; <br/>Any suggestions?&nbsp; The property is still under mortgage.&nbsp; The bank fees are substantial and <a href="http://www.zillow.com/refinance/">refinancing</a> is not beneficial.<br \><br \>9 replies Wed, 28 Jan 2009 15:34:00 GMT http://www.zillow.com/advice-thread/Property-transfers/193312/ 2009-01-28T15:34:00Z Mortgage Broker or Builder's Lender/Mortgage Company? Which One to Use? http://www.zillow.com/advice-thread/Mortgage-Broker-or-Builder%27s-Lender-Mortgage-Company-Which-One-to-Use/572054/ My wife and I signed a "Purchase Agreement" with a new homes builder and was given $10k towards closing costs or off of the sales price of the home.&nbsp; After speaking with a mortgage broker, it seems that our closing costs and monthly payments will be less expensive and lower if we were to use the broker's scenario, even with the higher sales and no closing costs assistance.&nbsp; Any input from others' experience with using a broker vs. home builder's own lender? Any and all input would be appreciated.&nbsp; Thank you in advance.<br \><br \>5 replies Tue, 13 Jan 2015 03:19:00 GMT http://www.zillow.com/advice-thread/Mortgage-Broker-or-Builder%27s-Lender-Mortgage-Company-Which-One-to-Use/572054/ 2015-01-13T03:19:00Z How can I refinance if my PMI company is telling my lender I can't refinance? http://www.zillow.com/advice-thread/How-can-I-refinance-if-my-PMI-company-is-telling-my-lender-I-can%27t-refinance/374636/ My family and I have been in contact with&nbsp;our mortgage company for&nbsp;about the&nbsp;last&nbsp;year (calls and letters) and have experienced the same issue: They will not refinance because of our lender-based PMI. We have not&nbsp;missed a payment, but (like most homes) the value has dropped and we are underwater. The original mortgage began in 2006 and was owned by either Fannie&nbsp;or Freddie (not sure which). I was recently told (on&nbsp;2/18/12)&nbsp;to follow up in about another month, when new adjustments are implimented with the HARP program - But to be honest, I am not hopeful, since we always seems to get the run around.&nbsp; I hear crap from people that, if we're not behind&nbsp;with our payments, that we don't need to refinance.&nbsp;This&nbsp;notion completely dismisses the fact that other expenses have increased and that&nbsp;our income may have stayed the same.&nbsp; Is there any way to know for sure if we will qualify to refinance with the new adjustments being implimented?&nbsp;&nbsp;&nbsp;<br \><br \>0 replies Tue, 21 Feb 2012 20:18:00 GMT http://www.zillow.com/advice-thread/How-can-I-refinance-if-my-PMI-company-is-telling-my-lender-I-can%27t-refinance/374636/ 2012-02-21T20:18:00Z Looking for a Fannie Mae contact for help with DU Refi Plus problem http://www.zillow.com/advice-thread/Looking-for-a-Fannie-Mae-contact-for-help-with-DU-Refi-Plus-problem/459013/ We are currently working with Capital One on a DU Refi Plus for our underwater mortgage because, as it was explained by their mortgage rep, they don't look at our credit score or the LTV (well within the 125% range), only our payment history. &nbsp;If we can keep up with the payments at the current amount they lowering them won't be a problem. &nbsp;Here's the catch. &nbsp;When they ran our info through the Fannie Mae DU program it stated our property was ineligible, even though the house was backed by them in October 2007 and we have not completed a refi since. &nbsp;<br/><br/>In 2010 we did contact our original lender, Chase, to attempt a refi however, in the middle of the process they sold the loan to Seterus, who is only a servicer. &nbsp;At that point we gave up because the loan was underwater and HARP 1 did not offer help to consumers in our situation. &nbsp;&nbsp;<br/><br/>We have spent the last week going back and forth between Fannie Mae and Cap One to find the exact reason Fannie is denying the loan, with no luck. &nbsp;Definitely getting the impression the brokers at Cap One have enough business with loans that do go through that they aren't going to spend hours working on research for one that might not. &nbsp;Does anyone have recommendations on who to contact higher up than customer service or experience dealing with this type of situation? &nbsp;Thanks!<br \><br \>9 replies Fri, 07 Sep 2012 18:44:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-Fannie-Mae-contact-for-help-with-DU-Refi-Plus-problem/459013/ 2012-09-07T18:44:00Z E*Trade Financial Mortgage?? http://www.zillow.com/advice-thread/E-Trade-Financial-Mortgage/405271/ <p>I&nbsp;have been very happy&nbsp;with my E*Trade Complete account over the last two years. I use it for both checking and investments, and I am currently considering refinancing my mortgage. For a while E*Trade has been&nbsp;advertizing that they would beat any mortgage pricing or pay you $500.&nbsp;<br/><br/>I have searched the web and I cannot find any reviews on E*Trade mortgages or anyone that's&nbsp;had experience with&nbsp;the $500 offer.<br/><br/>Does anyone have any fairly recent experience with E*Trade's mortgage division? I read that it may&nbsp;be outsourced to&nbsp;a company in&nbsp;NJ... so I'm curious if&nbsp;the online&nbsp;experience&nbsp;would be seamless between&nbsp;the mortgage and other&nbsp;E*Trade accounts.&nbsp;<br/><br/>Any experience would be&nbsp;greatly appreciated.<br/><br/>Thanks,<br/>Rob&nbsp;</p><br \><br \>1 reply Mon, 27 Jun 2011 21:40:00 GMT http://www.zillow.com/advice-thread/E-Trade-Financial-Mortgage/405271/ 2011-06-27T21:40:00Z I am behind on my mortgage. EMC mortgage set up a payment plan I can't make the payment to high http://www.zillow.com/advice-thread/I-am-behind-on-my-mortgage-EMC-mortgage-set-up-a-payment-plan-I-can%27t-make-the-payment-to-high/392445/ 5 replies Sat, 26 Mar 2011 21:07:00 GMT http://www.zillow.com/advice-thread/I-am-behind-on-my-mortgage-EMC-mortgage-set-up-a-payment-plan-I-can%27t-make-the-payment-to-high/392445/ 2011-03-26T21:07:00Z I am trying to get a First time home buyer mortgage. I got one prequalification for $117,000 and http://www.zillow.com/advice-thread/I-am-trying-to-get-a-First-time-home-buyer-mortgage-I-got-one-prequalification-for-117-000-and/513764/ <p>one for$ 100,000. I make about $40,000 a year and my credit score is 666. Are there oany other options available. The only homes I seem to be able to afford are in bad areas or in need of expensive repairts.</p><br \><br \>4 replies Wed, 02 Oct 2013 01:42:00 GMT http://www.zillow.com/advice-thread/I-am-trying-to-get-a-First-time-home-buyer-mortgage-I-got-one-prequalification-for-117-000-and/513764/ 2013-10-02T01:42:00Z Mortgage loans http://www.zillow.com/advice-thread/Mortgage-loans/495588/ We're interested in looking at 80/10/10 or 80/15/5 loans. Do these type of mortgage loans still exist and if so where can I find them in the state of Delaware? My husband and I have excellent credit.<br \><br \>2 replies Wed, 05 Jun 2013 19:22:00 GMT http://www.zillow.com/advice-thread/Mortgage-loans/495588/ 2013-06-05T19:22:00Z