Zillow Advice RSS: Question-Discussion-Guide,Mortgage,ID http://www.zillow.com/advice/ID/mortgage/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Streamline Refinance for Retired http://www.zillow.com/advice-thread/Streamline-Refinance-for-Retired/387960/ Hello,<br/><br/>My father is retired and his income is Social Security. &nbsp;He owns a home in Coeur d'Alene and has an adjustable rate mortgage through Chase, and I am wondering if he is can do a streamline refinance, and if so, with the least amount out of pocket possible.<br/><br/>His fixed income is not enough to qualify for a loan if he was walking into a bank today, but he has sterling credit, has owned the house for more than 15 years and has never been late on any payment, and he has been meeting his expenses on Social Security just fine. &nbsp;The problem is he is in an ARM, and as rates move up, the payment is going to make his situation more challenging.<br/><br/>He owes approximately $150K on the house. &nbsp;The house is probably worth around $175K.<br/><br/>He is a veteran, although his loan is not a VA loan.<br/><br/>If you know of any options that I could point him to, I would appreciate it.<br/><br/>Thanks,<br/><br/>Ty<br/><br/><br \><br \>3 replies Tue, 22 Feb 2011 15:38:00 GMT http://www.zillow.com/advice-thread/Streamline-Refinance-for-Retired/387960/ 2011-02-22T15:38:00Z How do I find the Fair Market Value of my home? http://www.zillow.com/advice-thread/How-do-I-find-the-Fair-Market-Value-of-my-home/221225/ We are hoping to restructure our mortgage.&nbsp; We need to find the fair market value of the property to complete this process.<br \><br \>8 replies Wed, 08 Apr 2009 20:25:00 GMT http://www.zillow.com/advice-thread/How-do-I-find-the-Fair-Market-Value-of-my-home/221225/ 2009-04-08T20:25:00Z Hi, I'm looking for lenders who can help refinance an investment property in Idaho. Any advise? We http://www.zillow.com/advice-thread/Hi-I%27m-looking-for-lenders-who-can-help-refinance-an-investment-property-in-Idaho-Any-advise-We/445522/ I just joined up on Zillow and am the only local mortgage banker in Blaine County. &nbsp;Happy to help if you are still looking.<br/><br/>Jeff<br \><br \>0 replies Sun, 02 Feb 2014 22:36:00 GMT http://www.zillow.com/advice-thread/Hi-I%27m-looking-for-lenders-who-can-help-refinance-an-investment-property-in-Idaho-Any-advise-We/445522/ 2014-02-02T22:36:00Z HARP http://www.zillow.com/advice-thread/HARP/379856/ I have posted your request to two different lenders I work with and will let you know what I find out. &nbsp;One is at one of the big national banks and the other is a mortgage broker so we will hit it at both angles.<br \><br \>0 replies Thu, 06 Jan 2011 23:09:00 GMT http://www.zillow.com/advice-thread/HARP/379856/ 2011-01-06T23:09:00Z Is it possible to get a HARP loan, if my sevicer is Cenlar and I pay PMI. I have a Freddie Mae loan. http://www.zillow.com/advice-thread/Is-it-possible-to-get-a-HARP-loan-if-my-sevicer-is-Cenlar-and-I-pay-PMI-I-have-a-Freddie-Mae-loan/379857/ I have posted your request to two different lenders I work with and will let you know what I find out. &nbsp;One is at one of the big national banks and the other is a mortgage broker so we will hit it at both angles.<br \><br \>0 replies Thu, 06 Jan 2011 23:10:00 GMT http://www.zillow.com/advice-thread/Is-it-possible-to-get-a-HARP-loan-if-my-sevicer-is-Cenlar-and-I-pay-PMI-I-have-a-Freddie-Mae-loan/379857/ 2011-01-06T23:10:00Z When applying for a non owner occupied property loan, do I include the anticipated rent as income? http://www.zillow.com/advice-thread/When-applying-for-a-non-owner-occupied-property-loan-do-I-include-the-anticipated-rent-as-income/263257/ I'm applying for a <a href="http://www.zillow.com/mortgage/">loan</a> for a non-owner occupied (rental) property and have a <a href="http://www.zillow.com/mortgage/">mortgage</a> on my primary residence. We are retired and don't have a lot of monthly income but have substantial savings/investments, excellent credit and no debt other than our mortgage which is 55 % LTV. As a result, we don't provide a great "snapshot" in terms of mortgage qualifications. <br/>Our monthly income (on paper) would look better if we included the prospective rent as income. Is this advisable/appropriate?<br/>Thanks for any guidance.&nbsp;<br \><br \>6 replies Sat, 01 Aug 2009 17:29:00 GMT http://www.zillow.com/advice-thread/When-applying-for-a-non-owner-occupied-property-loan-do-I-include-the-anticipated-rent-as-income/263257/ 2009-08-01T17:29:00Z Large Down & Credit Score Question http://www.zillow.com/advice-thread/Large-Down-Credit-Score-Question/505576/ You should have no issue at all. I am a Sr. Mortgage Consultant with a National Lender. I would be more than happy to assist you with the process, and answer any further questions you may have. Please feel free to contact me through my profile at anytime. Thank you and good luck.<br \><br \>0 replies Tue, 06 Aug 2013 23:09:00 GMT http://www.zillow.com/advice-thread/Large-Down-Credit-Score-Question/505576/ 2013-08-06T23:09:00Z Mortgage for Manufactured Home to be Placed on Foundation http://www.zillow.com/advice-thread/Mortgage-for-Manufactured-Home-to-be-Placed-on-Foundation/518619/ Hi!<br/><br/>I have bad credit.&nbsp; My mid score is 586.&nbsp; I am wanting to purchase a 1 acre lot (it's a really nice lot for a great price) and place a manufactured home on it (on a foundation).&nbsp; With my credit, are there any options?<br/><br/>Thanks!<br \><br \>4 replies Mon, 11 Nov 2013 17:26:00 GMT http://www.zillow.com/advice-thread/Mortgage-for-Manufactured-Home-to-be-Placed-on-Foundation/518619/ 2013-11-11T17:26:00Z Can you get rid of FHA PMI by refinancing through a FHA cash-out refinance loan? http://www.zillow.com/advice-thread/Can-you-get-rid-of-FHA-PMI-by-refinancing-through-a-FHA-cash-out-refinance-loan/561338/ <p>No.&nbsp; If you refinance into another FHA loan, monthly and up-front MI will still be required.&nbsp; If you are interested in a cash-out refinance or rate/term refinance, you should talk with a qualified mortgage loan officer to discuss your options.&nbsp; A Conventional, Conforming mortgage with 20% equity will not require PMI.&nbsp; If you would like to discuss further, please contact me.&nbsp;<br/><br/>Charles</p><br \><br \>0 replies Wed, 01 Oct 2014 15:59:00 GMT http://www.zillow.com/advice-thread/Can-you-get-rid-of-FHA-PMI-by-refinancing-through-a-FHA-cash-out-refinance-loan/561338/ 2014-10-01T15:59:00Z HARP and the upcoming federal mortgage guidelines in January any affect on HARP? http://www.zillow.com/advice-thread/HARP-and-the-upcoming-federal-mortgage-guidelines-in-January-any-affect-on-HARP/520214/ These newer and stricter federal guidelines that are going or are possibly going into affect in January 2014, do these at all in any way, have any possible affect on someone doing a HARP refi?<br/><br/>I read about these big changes coming here soon, and how it could be tougher to get a mortgage or refinance etc, but never in any of these articles do I read anything on it's potential affects on the HARP program.<br/><br/>I was going to do a HARP refi now, but I show a HUGE loss on my 2012 tax returns due to my rental going unrented the whole year. This pushed my DTI up to around 65%.<br/><br/>So I decided I'm going to wait till I file my 2013 tax returns in late January. I'm doing this because my rental was rented out all year. Doing this will show about a $1000 a month income, and push my DTI down to around 48% or so.<br/><br/>I'll also have some CC debt paid off by then to. So it seems like it makes sense to wait, but then I keep reading about these changes coming in January, and I'm wondering if maybe I should do my HARP refi right now.<br/><br/>Help please??<br/><br/>THANKS!!! :)<br \><br \>7 replies Tue, 26 Nov 2013 22:39:00 GMT http://www.zillow.com/advice-thread/HARP-and-the-upcoming-federal-mortgage-guidelines-in-January-any-affect-on-HARP/520214/ 2013-11-26T22:39:00Z Can you qualify to buy if your only income is child support and alimony? http://www.zillow.com/advice-thread/Can-you-qualify-to-buy-if-your-only-income-is-child-support-and-alimony/429796/ Yes, you can use alimony and child support to qualify for a mortgage.&nbsp; You will need to provide the entire divorce decree to your lender.&nbsp; You will also need to show a history of receiving these payments (copies of checks or direct deposits into your account).&nbsp; You should check with your lender to see how many months they will require.&nbsp; The divorce decree should evidence that the alimony and child support is going to continue.&nbsp; If you just started recieving the payments or if you're not receiving them on a regular basis, then you won't be able to use.&nbsp; Best of luck!&nbsp;<br \><br \>0 replies Thu, 26 Jan 2012 23:14:00 GMT http://www.zillow.com/advice-thread/Can-you-qualify-to-buy-if-your-only-income-is-child-support-and-alimony/429796/ 2012-01-26T23:14:00Z We currently have a mortgage with PMI through Bank of America. We want to refinance under the HARP2 http://www.zillow.com/advice-thread/We-currently-have-a-mortgage-with-PMI-through-Bank-of-America-We-want-to-refinance-under-the-HARP2/438491/ 2 replies Tue, 10 Apr 2012 04:43:00 GMT http://www.zillow.com/advice-thread/We-currently-have-a-mortgage-with-PMI-through-Bank-of-America-We-want-to-refinance-under-the-HARP2/438491/ 2012-04-10T04:43:00Z What can I do to get more (or better) quotes for my loan request ZR-JJBFMLW http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-JJBFMLW/450952/ I'm a local mortgage lender here in Eagle, Idaho.&nbsp; Since you want to refinance, I would recommend waiting to put the $20,000 down until you've had a lender you trust give you input on a new mortgage.&nbsp; That way you'll be able to time it better in the context of the refinancing process.&nbsp; However, it's great that you're obviously interested in paying off your mortgage sooner than later.&nbsp; Even though I'm in the business of originating mortgages, I encourage debt-free living where possible.&nbsp; Let me know if you have further questions.&nbsp; I'm happy to provide what input I can...<br/><br/>- Bill Zimmerman<br \><br \>0 replies Sat, 14 Jul 2012 23:26:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-JJBFMLW/450952/ 2012-07-14T23:26:00Z FHA loan with 100% comission? http://www.zillow.com/advice-thread/FHA-loan-with-100-comission/514500/ Hello<br/><br/>.[self promotion deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]<br/><br/><br/>William Allen<br/>Mortgage Banker<br/>Proficio Mortgage Ventures, LLC<br/>a wholly owned subsidiary of Proficio Bank<br/><br \><br \>0 replies Thu, 10 Oct 2013 22:35:00 GMT http://www.zillow.com/advice-thread/FHA-loan-with-100-comission/514500/ 2013-10-10T22:35:00Z My credit score is 700; can someone help me buy a house in Meridian or Boise ID http://www.zillow.com/advice-thread/My-credit-score-is-700-can-someone-help-me-buy-a-house-in-Meridian-or-Boise-ID/480636/ Credit score is a very important part of obtaining a mortgage,&nbsp;contact me and I will be happy to explain the entire process and the various options that may be avialable to you, <em>[deleted by Zillow&nbsp; moderator. Please see our Good Neighbor Policy for posting guidelines]</em><br \><br \>0 replies Thu, 28 Feb 2013 20:30:00 GMT http://www.zillow.com/advice-thread/My-credit-score-is-700-can-someone-help-me-buy-a-house-in-Meridian-or-Boise-ID/480636/ 2013-02-28T20:30:00Z Can I refinance a 2nd that pushes both my mortgages over my homes value by 10K? http://www.zillow.com/advice-thread/Can-I-refinance-a-2nd-that-pushes-both-my-mortgages-over-my-homes-value-by-10K/178907/ You wont be able to do that.&nbsp; The mortgage guidelines wont allow that.&nbsp; You may need to get a <a href="http://getprequalified.com/article_list_loan_modification.php" rel="nofollow">loan modification</a>.<br \><br \>0 replies Thu, 18 Dec 2008 22:35:00 GMT http://www.zillow.com/advice-thread/Can-I-refinance-a-2nd-that-pushes-both-my-mortgages-over-my-homes-value-by-10K/178907/ 2008-12-18T22:35:00Z Construction Loan for 2nd home http://www.zillow.com/advice-thread/Construction-Loan-for-2nd-home/380893/ I am a mortgage banker in Coeur d'Alene, and based on the scenarios you have posted I think you have a few options. I think the information you have provided supports what you are trying to accomplish. Since you are not going to move for a few years most lenders will treat it as a second home and you would need to qualify with both payments. If you decide to rent out your current in hoping to use rental income to offset your monthly debts there are a number of requirements to meet, I am not sure if you need to go that direction.<br/><br/>Steve Carlsen<br/>[Contact info deleted by moderator]<br \><br \>0 replies Sat, 15 Jan 2011 22:29:00 GMT http://www.zillow.com/advice-thread/Construction-Loan-for-2nd-home/380893/ 2011-01-15T22:29:00Z Anyone in North Idaho finance manufactured homes on rented property? http://www.zillow.com/advice-thread/Anyone-in-North-Idaho-finance-manufactured-homes-on-rented-property/541961/ There are several personal property lenders you can contact, Factory Built Credit Union, Triad Financial, Vanderbilt Mortgage, 21st Century Mortgage and US Bank Manufactured Housing Division.&nbsp; All of these will require a down payment, proof of income and you must meet their credit requirements.<br/><br/>You can also see about buying a manufactured&nbsp;home on land, which is a real property transaction.&nbsp; However, most lenders&nbsp;do not offer a zero money down option for this classification&nbsp;of housing.<br/><br/>Hope this helps.<br/><br/>Dave&nbsp;<br \><br \>0 replies Thu, 22 May 2014 20:23:00 GMT http://www.zillow.com/advice-thread/Anyone-in-North-Idaho-finance-manufactured-homes-on-rented-property/541961/ 2014-05-22T20:23:00Z Does anyone know when HARP 2 will start? http://www.zillow.com/advice-thread/Does-anyone-know-when-HARP-2-will-start/428065/ I am told that Sun Trust <a href="http://www.zillow.com/mortgage-rates/">Mortgage</a> will start on 1/9/2012.<br \><br \>0 replies Sun, 08 Jan 2012 23:49:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-when-HARP-2-will-start/428065/ 2012-01-08T23:49:00Z My credit score is somewhere in the 700's, but I have a forclosure from 2010. Can I qualify? http://www.zillow.com/advice-thread/My-credit-score-is-somewhere-in-the-700%27s-but-I-have-a-forclosure-from-2010-Can-I-qualify/492092/ YES. If you wish to obtain mortgage financing on a conventional loan after home foreclosure, you must wait seven to eight years after the foreclosure completion date. If you put ten percent down, this time can be shortened to as little as three years after the foreclosure date.<br \><br \>0 replies Thu, 18 Jul 2013 15:40:00 GMT http://www.zillow.com/advice-thread/My-credit-score-is-somewhere-in-the-700%27s-but-I-have-a-forclosure-from-2010-Can-I-qualify/492092/ 2013-07-18T15:40:00Z