Zillow Advice RSS: Question-Discussion-Guide,Mortgage,

Show Off Your Zillow Ratings and Reviews

Fri, 20 Nov 2009 23:49:00 GMT

We're excited to announce a new reputation widget that confirmed Zillow lenders can put on their Web site or blog. The widget showcases some of the great customer reviews and ratings you've received from borrowers you've quoted on Zillow Mortgage Marketplace. When users click on the widget, they go directly to your Zillow profile page.

The widget is easy to install:

    * Select a widget version, wide or narrow
    * Choose up to 3 reviews you want to display
    * Copy and paste the code to your Web site or blog

Your average rating and number of reviews will be pulled directly from your Zillow profile. And, you can choose to include your Confirmed Lender and All Star badges (if applicable) at the bottom of the widget.

Get your reputation widget

15 replies

Three New Changes to Zillow Mortgage Marketplace

Thu, 05 Nov 2009 17:52:00 GMT

Today, we are excited to announce three new changes to Zillow Mortgage Marketplace. We made these changes based on vauluable feedback we received from many confirmed lenders, and we are confident they will help improve Zillow Mortgage Marketplace for both Lenders and borrowers.

1. Lenders can now search for loan requests based on eleven narrower credit bands. The 11 new credit bands were modeled after Fannie Mae and Freddie Mac guidelines and lender suggestions.

Old Credit Bands

New Credit Bands

50 replies

Zillow Mortgage Marketplace Pricing/Policy Change

Thu, 05 Nov 2009 17:17:00 GMT

Dear Lenders:
As communicated previously Zillow Mortgage Marketplace is introducing a new, market-based fee system for customer-initiated contacts. You will still be able to submit an unlimited number of loan quotes for free, but you will be required to pay a market-priced fee when borrowers contact you regarding your quotes.

During this set-up period, you can pre-fund your Zillow account. A minimum of $250 is required to set up an account.

When you receive a contact, Zillow will subtract the price of that contact from your account balance. All contacts will be priced at $0 during the set-up period.

On December 9th, the set-up period will end and the market-pricing mechanism will be turned on. Lenders who fund their accounts prior to December 9th will receive 25% off all contacts received during the first 30 days after the market-pricing mechanism is turned on. Lenders who do not have funded accounts by December 9th will not be able to submit quotes or receive contacts from borrowers.

To add funds to your account visit Lender Home or e-mail our mortgage team at mortgagesales@zillow.com or call 1-877-661-3171.

135 replies

No spam or self promotion please

Thu, 09 Jul 2009 17:31:00 GMT

Reminder:
While we welcome all your answers, comments, and advices, we ask that you refrain from posting your contact information on this board. Your profile page should include this info and users have access to it if they have to see more information about you or your services. If you are looking for ways to advertise, I would recommend our Showcase Ads.

Thank you.

0 replies

I did not get any quotes on my loan request (ZR-ZDKBZPB). Can someone help me figure out why?

Mon, 30 Nov 2009 04:01:00 GMT

I have an interst only mortgage loan with a principal and 2nd mortgage, In the new gov't incentive program for 125%, I contacted my current lender - Suntrust and they provided me with a total ripoff quote, taking total advantage of my situation after recomminding that I handle the financing of the purchase of this home in 2006 as an interest only loan. Everyday I hear of all the low interst rate refi's but apparently there is nothing to help me. I feel the morgage insudtry is corrupt and has lost it's original basis of assiting citizens to become homeowners. It is a total disapointment and I have no trust in it whatsoever any longer.

0 replies

Mortgage

Fri, 20 Nov 2009 17:09:00 GMT

I would like to refinance my house, but need to know what it would appraise out to be.

5 replies

Do I qualify for a new loan? My current mortgage 1800/m. . I am going to buy a new house $635000.

Mon, 30 Nov 2009 03:54:00 GMT

My new mortgage payment will be 3800/m (20% down). My monthly income is $15000. I will carry the two houses for 6 months before I sell the first one. Is my debt to income ration too low? Do banks add the two mortgages together to calculate the ratio? I am worried that I may not get the new mortgage. My credit score 760. Thanks.

0 replies

Does rising above 580 make a loan possible these days?

Thu, 26 Nov 2009 20:06:00 GMT

Hello, I have fairly decent credit in the low 700's but my husband is sitting with a mid score of 581 (572,593,588) we have found an awesome deal at 110,000 for a house worth 180,000 (Fannie Mae Foreclosure) so even though we planned on waiting and cleaning my husbands credit up to get his score above that 620 mark.. we really want to buy this house as atm we have two kids and 150 lb malamute in a 600 foot house lol...there is no way this house will stay on the market long. I'm on maternity leave so I can't qualify without his income.. is there anyway to get a loan in this situation? (I live in Alaska)

I know that 620 is the new cut off so to speak, but the net seems to think 580 is a possibility still. Like a second you'll pay more cut-off. Is that true? What options are out there for a person with a score of 581 (first time home buyer)?

24 replies

Question on repairs for home w/ 203k loan. Home also in estate, how should I structure the offer?

Thu, 05 Nov 2009 16:04:00 GMT

A few factors to consider that I want to make sure will all work together before jumping in.

1. Home is in estate, not currently being taken care of and it has some issues, including leaking roof and some basement seepage. Also would need some fairly considerable upgrades including kitchen renovation and possibly bathrooms, which is why we're interested in 203k.
2. The home also has a 3 car garage off alley with a 1 bed apartment over it that has been used as a rental unit, which also has a leaking roof and minor updates needed. So I think this would be considered a 2-unit property.

We were planning on offering $200k with a $12k roof allowance, but since we want to do 203k (to upgrade the kitchen and maybe bath), from what I can tell, we couldn't include it in the offer that way since FHA doesn't permit allowances. Should we just ask for sellers to pay the max 6% closing costs, since that equates to $12k anyway?

Will the home even pass the initial review by the HUD Fee Consultant based on the roof problem? Can I roll in the costs of the roof and the kitchen/bath renovations to the total repair estimate for the escrow of funds?

2 replies

Are there any jumbo loans out there that will take 10-15% down?

Wed, 25 Nov 2009 03:24:00 GMT

I am a well-qualified buyer, very good income, with good credit, and I have a $75000 down payment into a $600000 house. Are there any underwriters that will fund this scenario? For my area this is considered a jumbo loan. Please advise. Thank you.

5 replies

I have approx 150K equity. Currently can't qualify for a new loan.

Sun, 29 Nov 2009 01:34:00 GMT

I don't want to take money out or extend the terms. I need to get my ex partner off the original loan. Any ideas?

4 replies

Making Home Affordable Refi with Chase - in process 7 months & counting

Tue, 17 Nov 2009 04:25:00 GMT

Oh boy, this has been a nightmare! My husband and I are attempting to refinance our home (our loan is owned by Fannie Mae and serviced by Chase). We were told by the Chase officer that this would be very easy and we locked at 4.5% back in April. Fast forward 7 months... our loan is not done and it looks like we may have to start back at square one.

Here is how it went down. When our loan application was submitted by Chase, they received a "Designated Underwriting Approval" from Fannie Mae apparently meaning that our loan met the qualifications and could be refinanced under the MHA program. We were told to be patient as it could take up to 90 days for the loan to come through. We waited patiently, even submitting our financial records three different times at the request of Chase for various reasons. About a month ago, we found out from the lender that for some reason (he did not really know why) Fannie Mae rejected our refinance request and said that our loan was inelegible for the goverment refi program (even though it did receive an initial approval). Our lender then went through the process of trying to secure us a traditional refi but that did not pan out because the value of our home has dropped since we purchased in late 2007. He now wants us to start the loan process again, so that we can get another appraisal because the first one came in quite low and hope that everything works out the 2nd time around... I think he is crazy and just giving us the run around.

Any thoughts on what two bummed out deserving homeowners should do?

I pressed the Chase rep enough to go back to Fannie Mae one more time to try to figure out why the loan will not go through. His explanation of "they just wont do it" doesnt seem quite kosher. Has anyone heard of similiar situations?

Thanks for your help... I'll appreciate all I can get.

Heidi K

4 replies

Is it easy to change contractors on a 203k after closing?

Wed, 18 Nov 2009 20:04:00 GMT

I would like to fire my contractor...he has started demo, but has not come back to do anything else because he has no money. ( Initially, he had lines of credit, but they mysteriously vanished once I closed on the loan. My loan is scheduled to be sold to BOA and my mortgage company says that I can not change contractors until it is sold to BOA. Is this a simple process?

6 replies

Online resource or mortgage caculator that takes credit scores into consideration?

Sat, 27 Dec 2008 15:33:00 GMT

I am hoping to buy a home in 2009. My credit is iffy (around 620), but I have a stable job with a good income and a 10% down payment. I know that lenders are much more conservative than they used to be, so I'm not sure if I can even get a loan. Before I start talking to mortgage brokers I'd like to get a sense of what sort of loan I might be eligible for. Is there a good mortgage calculator, or some other online resource that will take my credit scores into account and give my a general idea of whether I might be eligible, and at what rate?

4 replies

I did not get any quotes on my loan request (ZR-GGFFPKB). Can someone help me figure out why?

Mon, 30 Nov 2009 02:37:00 GMT

I had a Bankruptcy(chpt 13) that has been discharged. My credit since then has been good. I need to bring my payments down.

0 replies

Debt Consolidation Attorney

Mon, 30 Nov 2009 02:32:00 GMT

The office of Debt Advisors, S.C., helps their clients to avoid Debt Consolidation scams at Milwaukee, Madison, Oshkosh, and Green Bay.
debt consolidation attorney,debt consolidation lawyer,debt lawyer
http://www.mydebtadvisors.com/PracticeAreas/Avoiding-Debt-Consolidation-Scams.asp

0 replies

I have no credit! But my husband's is excellent-what are our likely mortgage options?

Wed, 18 Feb 2009 16:54:00 GMT

I never have had a credit card or loan (or needed either). When I try to check my credit online, no information is found. My husband however has excellent credit. How will our credit situation affect are our mortgage prospects? We do have enough cash for a 20% down payment and we need both our incomes to qualify for the amount we need to borrow.

13 replies

what do you do if you have no credit to show. Yet, you have a house card evrything paid in full .

Thu, 05 Nov 2009 00:37:00 GMT

2 replies

Calgary Storage

Mon, 30 Nov 2009 02:27:00 GMT

If you are facing storing problems, Calgary storage units are the best solution available. The store units range from small to big, plus they offer merits of easy access and security.
http://leyax35468.bravejournal.com

0 replies

I need loan bad. My credit is bad. Have a $170000 rental house thats paid for. Need to repair home $

Sun, 22 Nov 2009 16:23:00 GMT

8 replies