Zillow Advice RSS: Question-Discussion-Guide,Mortgage,Miami- FL http://www.zillow.com/advice/Miami-FL/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Can I refinance a rental yet? Ive been on title 6 months http://www.zillow.com/advice-thread/Can-I-refinance-a-rental-yet-Ive-been-on-title-6-months/600696/ My father added me to the title of a rental property (duplex) that he no longer wanted to manage. I have been managing the property now for 6 months. I am looking to refinance in order to both, remove my father from the title/mortgage, and lower the monthly payment by taking out a new 30-year loan. <br/><br/>I have been told that I can refi at 6 months by some, and 12 months by others. <br/><br/>Any help would be appreciated.<br \><br \>7 replies Tue, 18 Aug 2015 00:25:00 GMT http://www.zillow.com/advice-thread/Can-I-refinance-a-rental-yet-Ive-been-on-title-6-months/600696/ 2015-08-18T00:25:00Z Non occupant co borrower vs. investment property http://www.zillow.com/advice-thread/Non-occupant-co-borrower-vs-investment-property/519233/ I'm looking to purchase a property but have been self employed the past 2 year but made very little money the first year. I just switched to a salaried position but I need 6 months to qualify for a conventional loan. My father-in-law is willing to co-sign/co-borrow on a loan to help. I have great credit (789) but no usable income while he can help us qualify for anything in our price range (under $300k).<br/><br/>Long story short, I'm trying to find out which loan is right for us. I know we can do an FHA non occupant co borrower but I'd prefer not to do FHA due to mortgage insurance when we can put more than 20% down. Is there any conventional loans that wouldn't have to use my income to qualify for? We can put down 25% with more than half coming from me.&nbsp;<br \><br \>8 replies Sat, 16 Nov 2013 20:59:00 GMT http://www.zillow.com/advice-thread/Non-occupant-co-borrower-vs-investment-property/519233/ 2013-11-16T20:59:00Z NON Warrantied condominium Options http://www.zillow.com/advice-thread/NON-Warrantied-condominium-Options/591806/ Looking to finance a condo in South Florida<br/><br/>&nbsp;85% financing.<br/>Primary residence,&nbsp;<br/>NON Warrantied condominium.<br/>In Miami Dade County - Coconut Grove<br/>700+ score<br \><br \>5 replies Thu, 18 Jun 2015 01:23:00 GMT http://www.zillow.com/advice-thread/NON-Warrantied-condominium-Options/591806/ 2015-06-18T01:23:00Z Cash out Refinance for FL Condo http://www.zillow.com/advice-thread/Cash-out-Refinance-for-FL-Condo/482348/ Hello,<br/><br/>I'm looking for cashout refinance loan for a Florida Condo that I own outright. I've owned the condo for three years, so seasoning shouldn't be a problem. The condo is worth $70K and I'm looking for a $50K loan. Are there any lenders out there that make this kind of loan?<br \><br \>4 replies Mon, 11 Mar 2013 19:25:00 GMT http://www.zillow.com/advice-thread/Cash-out-Refinance-for-FL-Condo/482348/ 2013-03-11T19:25:00Z VA Loan 600 Fico? http://www.zillow.com/advice-thread/VA-Loan-600-Fico/590583/ I have a 600 credit score and was wondering if I was able to use my COE and buy a new home I make 75k per year and am looking at homes in the 300k range. It looks like most banks require a 640 score.<br \><br \>12 replies Wed, 10 Jun 2015 01:26:00 GMT http://www.zillow.com/advice-thread/VA-Loan-600-Fico/590583/ 2015-06-10T01:26:00Z Looking for FHA Lenders in SE Florida http://www.zillow.com/advice-thread/Looking-for-FHA-Lenders-in-SE-Florida/378672/ I am looking at getting a FHA loan and would any input on lenders in SE Florida that do FHA loans.&nbsp; I would to hear from people who have gotten loans and their experience with the lender.&nbsp; I am looking a buying a second home in Palm Beach county and keep my condo in Miami as a rental.<br \><br \>4 replies Mon, 27 Dec 2010 16:50:00 GMT http://www.zillow.com/advice-thread/Looking-for-FHA-Lenders-in-SE-Florida/378672/ 2010-12-27T16:50:00Z If I refinance, will I get back a part of the upfront mortgage insurance premium? http://www.zillow.com/advice-thread/If-I-refinance-will-I-get-back-a-part-of-the-upfront-mortgage-insurance-premium/584970/ <p>Looking back at our HUD statement, it shows that we gave about $4400 towards the upfront PMI at closing. When we refinance, do we get that back?</p><br \><br \>4 replies Thu, 30 Apr 2015 16:12:00 GMT http://www.zillow.com/advice-thread/If-I-refinance-will-I-get-back-a-part-of-the-upfront-mortgage-insurance-premium/584970/ 2015-04-30T16:12:00Z 5% Conventional Loan Miami Dade http://www.zillow.com/advice-thread/5-Conventional-Loan-Miami-Dade/579556/ Hello, <br/><br/>I am buying a townhouse in Miami-Dade worth 220k. Could I obtain a 5% conventional loan to save me from the pmi etc.. of FHA? I have a credit score of 802.<br/><br/>Thanks,<br/><br/><br/><br/><br \><br \>9 replies Fri, 20 Mar 2015 03:26:00 GMT http://www.zillow.com/advice-thread/5-Conventional-Loan-Miami-Dade/579556/ 2015-03-20T03:26:00Z Can I get a Loan in my current situation? http://www.zillow.com/advice-thread/Can-I-get-a-Loan-in-my-current-situation/580065/ <div>Here are my particulars:<br/><div>I was living outside the US for 2 years (not making any money). I just came back in January, I have a steady job, $25,000 saved and a Score of 730.<br/><div>I want to buy something of around 85,000 but I'm afraid my short employment history will make that difficult.<br/><div>What are my options? Thanks!</div></div></div></div><br \><br \>6 replies Tue, 24 Mar 2015 01:18:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-Loan-in-my-current-situation/580065/ 2015-03-24T01:18:00Z financing for Townhouse with NO AC UNIT & NO APPLIANCES http://www.zillow.com/advice-thread/financing-for-Townhouse-with-NO-AC-UNIT-NO-APPLIANCES/577545/ <p class="MsoNormal">I'm interested in purchasing a townhouse property that has been stripped of all appliances; outside ac condensing unit, inside air handler, stove, refrigerator and water heater. My credit score is a 760 &amp; I have 70k in liquid assets &amp; the townhome is listed for 160k. Wanted to know my financing options to purchase this property?</p><br \><br \>8 replies Tue, 03 Mar 2015 03:12:00 GMT http://www.zillow.com/advice-thread/financing-for-Townhouse-with-NO-AC-UNIT-NO-APPLIANCES/577545/ 2015-03-03T03:12:00Z 401K loan used for reserves? http://www.zillow.com/advice-thread/401K-loan-used-for-reserves/571638/ Hi all,<br/><br/>Interestingly enough i have a file that is ready to close, but i have some doubt that the will be able to use her husbands 401k loan to account for reserves. She is alone on the loan, but they share several accounts together and those accounts have been taken into consideration for the loan. My question is if the husband deposits the money into a shared account will this be able to count as reserves? I called Wells Fargo to ask if their guidelines allow this since it is a Jumbo and they will have the loan after closing, but no one seems to be able to answer my question. assistance?<br \><br \>9 replies Thu, 08 Jan 2015 20:59:00 GMT http://www.zillow.com/advice-thread/401K-loan-used-for-reserves/571638/ 2015-01-08T20:59:00Z Home Steps rate too high? http://www.zillow.com/advice-thread/Home-Steps-rate-too-high/569862/ Hi,<br/><br/>&nbsp; I am co-buying a property with my father, he has a 750+ credit score, I have a 678 credit score.<br/>&nbsp; We are buying a Home Steps approved property of 150k, &nbsp;we wanted to offer 5% down and the bank did not accept it due to my low credit score, that the minimum would be only 10% and with an interest rate of 5.0 which seems rather high.<br/>&nbsp; Is this normal? Lender is telling me I need 700+ to qualify for 5% down, and that Home Steps rates are higher than normal due to no MI. Is this correct?<br \><br \>4 replies Thu, 18 Dec 2014 05:32:00 GMT http://www.zillow.com/advice-thread/Home-Steps-rate-too-high/569862/ 2014-12-18T05:32:00Z International Loan http://www.zillow.com/advice-thread/International-Loan/566367/ Hello,<br/><br/>I am brazilian and i am looking for an apartment in Miami. Is it possible for me to have a mortgage if that i don't have any financial records in the US?<br/><br/>Thank you!<br \><br \>7 replies Wed, 12 Nov 2014 16:50:00 GMT http://www.zillow.com/advice-thread/International-Loan/566367/ 2014-11-12T16:50:00Z Has anyone done a refinance with American Equity Mortgage and how the overall experiance was? http://www.zillow.com/advice-thread/Has-anyone-done-a-refinance-with-American-Equity-Mortgage-and-how-the-overall-experiance-was/569104/ 3 replies Mon, 08 Dec 2014 23:02:00 GMT http://www.zillow.com/advice-thread/Has-anyone-done-a-refinance-with-American-Equity-Mortgage-and-how-the-overall-experiance-was/569104/ 2014-12-08T23:02:00Z REFINANCE http://www.zillow.com/advice-thread/REFINANCE/567447/ I have an FHA loan and looking for a refinance. &nbsp;May I keep my FHA loan status with a refinance?<br \><br \>6 replies Fri, 21 Nov 2014 16:03:00 GMT http://www.zillow.com/advice-thread/REFINANCE/567447/ 2014-11-21T16:03:00Z Worth Refinancing at this time? http://www.zillow.com/advice-thread/Worth-Refinancing-at-this-time/563834/ Hello,<br/><br/>I'm looking to get some guidance and advice. I purchased my home in December 2009 for $215,000. Zillow estimates that my property is now worth $244,000. I have a FHA loan at 5% that I owe $181,000. My P&amp;I is roughly $1065, and I have mortgage insurance which is roughly $80. Is there any benefit in refinancing? I'm only interested in lowering my interest rate and overall mortgage payment. <br/><br/>Also, my wife and I are thinking of purchasing another property within the next two years. We would like to keep the original property and rent it (part of the reason why I am looking into refinancing), would refinancing now, effect that? The original home is only in my name, and the new home could only be in my wife's name if that helps.<br/><br/>Thanks in advance.<br \><br \>12 replies Wed, 22 Oct 2014 05:24:00 GMT http://www.zillow.com/advice-thread/Worth-Refinancing-at-this-time/563834/ 2014-10-22T05:24:00Z 2+yr removed from fclsure looking for HELOC agains free and clear owned rental. http://www.zillow.com/advice-thread/2-yr-removed-from-fclsure-looking-for-HELOC-agains-free-and-clear-owned-rental/560050/ Have a free and clear rental seasoned for 6months and am looking to borrow against it. Property is valued about 100k and need about 50% LTV or less. I am removed 2+ year from a foreclosure. Looking for lenders or portfolio in the Miami area. Thanks.<br \><br \>1 reply Sat, 20 Sep 2014 20:35:00 GMT http://www.zillow.com/advice-thread/2-yr-removed-from-fclsure-looking-for-HELOC-agains-free-and-clear-owned-rental/560050/ 2014-09-20T20:35:00Z Home improvement loan with no equity http://www.zillow.com/advice-thread/Home-improvement-loan-with-no-equity/557924/ We just closed on our house in May. It's a two-story duplex and we rent out the upstairs unit. We moved in mid July and have started to realize there are a lot of projects that need to be done (new AC, ducting, new windows, repairing sags in floor...etc). This is our first home so we're learning a lot as we go. I'm wondering if there is a way to take out a home improvement loan (let's say $20,000-$30,000) and roll it into your mortgage. Obviously we have no equity at this point.&nbsp;<br/><br/>&nbsp;<br \><br \>14 replies Thu, 04 Sep 2014 18:14:00 GMT http://www.zillow.com/advice-thread/Home-improvement-loan-with-no-equity/557924/ 2014-09-04T18:14:00Z Cash buy and finance http://www.zillow.com/advice-thread/Cash-buy-and-finance/556533/ I'm in a very competitive market and it is a fact that cash buys are more attractive. Can I buy a home for cash and then immediately apply for a home loan and get the same benefits (tax benefits, interest rates etc...) as if I were financing my home in first place?<br/><br/>&nbsp;Thank you<br \><br \>2 replies Tue, 26 Aug 2014 04:03:00 GMT http://www.zillow.com/advice-thread/Cash-buy-and-finance/556533/ 2014-08-26T04:03:00Z I am interested in buying 1 acre of land zoned BU-3 how much down payment will I need? http://www.zillow.com/advice-thread/I-am-interested-in-buying-1-acre-of-land-zoned-BU-3-how-much-down-payment-will-I-need/555335/ 2 replies Mon, 18 Aug 2014 20:44:00 GMT http://www.zillow.com/advice-thread/I-am-interested-in-buying-1-acre-of-land-zoned-BU-3-how-much-down-payment-will-I-need/555335/ 2014-08-18T20:44:00Z