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 Reverse mortgage? http://www.zillow.com/advice-thread/Reverse-mortgage/372511/ How much of my mortgage I need to have paid in order to qualify for a reverse mortgage?<br \><br \>4 replies Mon, 25 Oct 2010 04:22:00 GMT http://www.zillow.com/advice-thread/Reverse-mortgage/372511/ 2010-10-25T04:22:00Z Trying to get a mortgage with car repo on credit. What's the best move? http://www.zillow.com/advice-thread/Trying-to-get-a-mortgage-with-car-repo-on-credit-What%27s-the-best-move/549152/ <div>My husband purchased a car in 2006 after returning from active duty in Afghanistan. Later that year he discovered that it was difficult to find employment. Ultimately, he stopped payment on the auto loan and the vehicle was repossessed in 2007.<br/>&nbsp;<br/><div>He is now a full-time government employee (4 years) and his credit over the years has greatly improved, starting out in the 500s and now in the upper 600s. At this time we are ready to put an offer in on a home. Although my credit is spotless and superior to his, we applied for the mortgage leaving me out because although I have income equal to his, the bank won't recognize since it is a school-related fellowship and not income from employment. I am a PhD candidate and have been receiving my income this way since 2010. On the contrary, the bank WILL count my debts against us if I am listed on the loan.<br/>&nbsp;<br/><div>The creditor already gave him a pre-approval for a $250k VA loan; however, now that it's crunch time he's saying he mistakenly left out monthly payments from the car repo when he calculated the DTI ratio. &nbsp;If that is included he only qualifies for $150k and we can't find a decent home in Miami, FL at that price, let alone the one we have chosen.&nbsp;<br/>&nbsp;<br/><div>The lender is asking him to contact the auto loan bank for a letter attesting that the car payment is no longer his responsibility. We've pretty sure that would NEVER happen. Is there any alternative we're missing that doesn't require him to restart the clock (7 years) on the repo?</div></div></div></div><br \><br \>8 replies Thu, 10 Jul 2014 13:16:00 GMT http://www.zillow.com/advice-thread/Trying-to-get-a-mortgage-with-car-repo-on-credit-What%27s-the-best-move/549152/ 2014-07-10T13:16:00Z Can I use my finances to pay the down payment on a property if fiancee is primary on the mortgage? http://www.zillow.com/advice-thread/Can-I-use-my-finances-to-pay-the-down-payment-on-a-property-if-fiancee-is-primary-on-the-mortgage/548020/ My fiancee and I are interested in buying our first home. He has a better credit score than I do, but I have most of the funds for the down payment and the closing costs for a property. Is it still possible to use my funds for the down payment and closing costs if he is the one taking out the mortgage?<br \><br \>7 replies Tue, 01 Jul 2014 17:00:00 GMT http://www.zillow.com/advice-thread/Can-I-use-my-finances-to-pay-the-down-payment-on-a-property-if-fiancee-is-primary-on-the-mortgage/548020/ 2014-07-01T17:00:00Z I have a 601 credit score, which lenders can help me to et approved for an FHA loan? http://www.zillow.com/advice-thread/I-have-a-601-credit-score-which-lenders-can-help-me-to-et-approved-for-an-FHA-loan/215438/ 22 replies Thu, 26 Mar 2009 02:43:00 GMT http://www.zillow.com/advice-thread/I-have-a-601-credit-score-which-lenders-can-help-me-to-et-approved-for-an-FHA-loan/215438/ 2009-03-26T02:43:00Z Best lender for Homepath http://www.zillow.com/advice-thread/Best-lender-for-Homepath/544775/ Hi<br/>I am a qualified borrower that is looking to close on a property in the next 30 days.&nbsp;<br/>I have a median credit score of 730 and my wife's credit score is 765.&nbsp;<br/>we are looking to purchase a fannie mae property with homepath.&nbsp;<br/>We are putting 10% down on a 285,000 home.&nbsp;<br/>How can i identify the best lendor with the least closing costs.&nbsp;<br/>Any help would be appreciated<br/><br/>Regards<br/><br \><br \>6 replies Mon, 09 Jun 2014 18:05:00 GMT http://www.zillow.com/advice-thread/Best-lender-for-Homepath/544775/ 2014-06-09T18:05:00Z Can get a loan 24 mths after foreclosure? http://www.zillow.com/advice-thread/Can-get-a-loan-24-mths-after-foreclosure/544592/ I am 24 months removed from foreclosure, credit over 700, I could be able to put about 20% down. Can get a loan or should continue waiting for 36 months?<br \><br \>7 replies Sun, 08 Jun 2014 13:12:00 GMT http://www.zillow.com/advice-thread/Can-get-a-loan-24-mths-after-foreclosure/544592/ 2014-06-08T13:12:00Z 24 months removed from Foreclosure - Can I get financing? http://www.zillow.com/advice-thread/24-months-removed-from-Foreclosure-Can-I-get-financing/543372/ Hi, I am 2 years removed from a Foreclosure. My credit is over 700 and I have good income and low debt.I am searching homes in a price range that allows me to put 20% down.<br/>What are the financing options I have? Or do I have to wait 3 years?<br \><br \>8 replies Fri, 30 May 2014 21:50:00 GMT http://www.zillow.com/advice-thread/24-months-removed-from-Foreclosure-Can-I-get-financing/543372/ 2014-05-30T21:50:00Z can chase approve an Appel modification? http://www.zillow.com/advice-thread/can-chase-approve-an-Appel-modification/544227/ All the numbers were perfect and mod was almost approved, but chase realize that it was modified twice in five years, so that's why they denied, what should I do? Last mod I got a deferment of 192k , but now they were willing to give me a forebearance of 556k . Same interest and yrs . Please help on what to do I want to safe my home.<br \><br \>0 replies Thu, 05 Jun 2014 16:07:00 GMT http://www.zillow.com/advice-thread/can-chase-approve-an-Appel-modification/544227/ 2014-06-05T16:07:00Z I am looking for an investor to fund Auction purchases! http://www.zillow.com/advice-thread/I-am-looking-for-an-investor-to-fund-Auction-purchases/541937/ <p>Hi, does anyone know any company or private lender that is willing to fund auction purchases for Miami-Dade county FL?<br/><br/>Thank you,<br/>Frank<br/><br/>My email is <a href="mailto:frank@yaimeh.com" rel="nofollow">frank@yaimeh.com</a><br/></p><br \><br \>0 replies Thu, 22 May 2014 00:37:00 GMT http://www.zillow.com/advice-thread/I-am-looking-for-an-investor-to-fund-Auction-purchases/541937/ 2014-05-22T00:37:00Z Home mortgage to buy a primary property to live in for a green card holder who works abroad http://www.zillow.com/advice-thread/Home-mortgage-to-buy-a-primary-property-to-live-in-for-a-green-card-holder-who-works-abroad/483298/ My situation is:<br/>I have a 1 apartment in a&nbsp;foreign&nbsp;country, one of them is rented by some person and 1 commercial real estate (, which is also rented. These 2 are my income = 5100.<br/>Also i work on a company, which is also abroad and my&nbsp;salary&nbsp;is 2000.00<br/>I am a green card holder and Just from the&nbsp; recently lived in Miami, so i have 2 bank accounts but less than year of relationship with the banks.<br/>I found the apartment I would like to buy, but I have only 200.000 to put down and I need 225.000 to borrow.<br/>I would like to find out more about the home loan for working abroad clients.<br/>And the possibility for me to get home mortgage.<br/>It turns out to be difficult to do it because since i have been living in USA, my credit history is good but very short.<br/>I am very upset in such&nbsp;situation, because i am&nbsp;sure&nbsp;in my income, but i dont know what do to<br \><br \>1 reply Sun, 17 Mar 2013 00:59:00 GMT http://www.zillow.com/advice-thread/Home-mortgage-to-buy-a-primary-property-to-live-in-for-a-green-card-holder-who-works-abroad/483298/ 2013-03-17T00:59:00Z Fha or conventional or homesteps? http://www.zillow.com/advice-thread/Fha-or-conventional-or-homesteps/533252/ Hi Income (both) $45.000 a year Mycredit 720 My husband 670 Debt $600 We need advices please we have been pre-q for a fha and for a conventional subsidy for the city of miami and the other part for total bank ( this is not the rigth one for us is very limited!! And the fha was as well. Know we are applayinh for a conventional(5% down) in city national i wonder if are there more programs like this? Or i should go for homesteps?<br \><br \>1 reply Fri, 21 Mar 2014 18:42:00 GMT http://www.zillow.com/advice-thread/Fha-or-conventional-or-homesteps/533252/ 2014-03-21T18:42:00Z What can I do to get more (or better) quotes for my loan request ZR-PTTDYMN? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-PTTDYMN/533924/ I've just finished paying off my 4th payment trial during my modification. Can I refinance now?&nbsp;<br \><br \>0 replies Wed, 26 Mar 2014 20:22:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-PTTDYMN/533924/ 2014-03-26T20:22:00Z Second home for elderly parents provisions http://www.zillow.com/advice-thread/Second-home-for-elderly-parents-provisions/529975/ <div>&nbsp; I already own a property. I am buying a second property for my parents, it is a Freddy Mac property. My parents are elder, and they get very very low income below poverty line (only my father can work). Their income would not qualify for a mortgage. I looked into the Chase Family Opportunity Mortgage, but this was retired/cancelled back in January. Then, I looked into the Fannie Mae Selling Guide (https://www.fanniemae.com/content/guide/sel102213.pdf), page 269, in which you provide "principal residence" provisions as owner occupant for a second property for elderly parents. But since this is a Freddie Mac property, I cannot use the Fannie Mae provision. I also cannot find any documentation to see whether the same exists for Freddie Mac... Does anyone know? Is there any other provision?<div>My concern is that I do not want to put my parents are co-borrowers, as this will affect them eligibility to future social helps.</div></div><br \><br \>7 replies Tue, 25 Feb 2014 21:00:00 GMT http://www.zillow.com/advice-thread/Second-home-for-elderly-parents-provisions/529975/ 2014-02-25T21:00:00Z Can my ex husband put our house into my name with the mortgage included? http://www.zillow.com/advice-thread/Can-my-ex-husband-put-our-house-into-my-name-with-the-mortgage-included/528885/ or do I have to apply for a new mortgage?<br \><br \>8 replies Tue, 18 Feb 2014 14:14:00 GMT http://www.zillow.com/advice-thread/Can-my-ex-husband-put-our-house-into-my-name-with-the-mortgage-included/528885/ 2014-02-18T14:14:00Z Back to work program lender in Miami, fl http://www.zillow.com/advice-thread/Back-to-work-program-lender-in-Miami-fl/523338/ I'm looking for a lender that offers the back to work program in Miami, Fl<br \><br \>11 replies Sun, 05 Jan 2014 02:14:00 GMT http://www.zillow.com/advice-thread/Back-to-work-program-lender-in-Miami-fl/523338/ 2014-01-05T02:14:00Z Help, I hate my home and want to sell it (bought with FHA in Miami less than a month ago) http://www.zillow.com/advice-thread/Help-I-hate-my-home-and-want-to-sell-it-bought-with-FHA-in-Miami-less-than-a-month-ago/520518/ As the title of my post says...we bought a house and hate it. Are there any limitations as to selling it and being able to finance another property with FHA?<br \><br \>5 replies Mon, 02 Dec 2013 00:10:00 GMT http://www.zillow.com/advice-thread/Help-I-hate-my-home-and-want-to-sell-it-bought-with-FHA-in-Miami-less-than-a-month-ago/520518/ 2013-12-02T00:10:00Z FHA loan and extenuating circumstances http://www.zillow.com/advice-thread/FHA-loan-and-extenuating-circumstances/458230/ Hello, My wife and I are interested in purchasing a single-family home via an FHA loan this year. At the present moment we have $20,000 saved for the purchase of this home. The home we are looking to buy is between 130K-140K, if not then less. We are looking for your sincere help because we have a bankruptcy in our history which was discharged more than 2 1/2 years ago. I only, have a foreclosure, which I believe finalized in October of 2011. The reasons for the bankruptcy and foreclosure are extenuating. In February of 2009, I lost my job because the company closed, that same month my daughter was born on the 21st. Soon after the birth, my wife developed post partum depression and had to stay at home to oversee her treatment and the care of my daughter. A couple of month later, my wife eventually lost her job because of the depression and increasing anxiety. These extenuating circumstances caused our past situation. Since then, we have both re-established our credit to good standing, have stable jobs and are ready to purchase a home with a low down payment and low interest rate. I read the rules about foreclosures and eligibility for an FHA loan and it allows rooms "extenuating circumstances" as long as they are proven and documented. If you have experience with approving individuals with "extenuating circumstances", please share your experience. We are located in Miami, fl. Thank you, Jose Diaz<br \><br \>13 replies Sat, 01 Sep 2012 20:45:00 GMT http://www.zillow.com/advice-thread/FHA-loan-and-extenuating-circumstances/458230/ 2012-09-01T20:45:00Z Lender giving 4.75% VA loan with zero down. Getting a bad deal? http://www.zillow.com/advice-thread/Lender-giving-4-75-VA-loan-with-zero-down-Getting-a-bad-deal/521564/ Went to lock rate in today, lender gave me 4.75. When we 1st signed the paperwork he quoted us 4.75 and said it might be a little lower, said he high balled it. We are financing a VA loan, zero down, no closing cost &amp; financing $324000. Me &amp; my wife's credit rating is in the 690's. I looked up what the averages for 30 fixed &amp; 30 yr VA rates are. Every place I see is between 4.2-4.6%...are we getting screwed over by them? It sure does sound like it to me. Just want some opinions if we are getting a fair deal or not. Thanks<br \><br \>23 replies Sat, 14 Dec 2013 01:09:00 GMT http://www.zillow.com/advice-thread/Lender-giving-4-75-VA-loan-with-zero-down-Getting-a-bad-deal/521564/ 2013-12-14T01:09:00Z 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 \>7 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 Help..... http://www.zillow.com/advice-thread/Help/517636/ I am looking for a lender in Miami, Fl My husband just medically retired this January and his highest score is 590 and middle is 560 or 570? Is there anyone that can help us please???<br \><br \>7 replies Sat, 02 Nov 2013 11:55:00 GMT http://www.zillow.com/advice-thread/Help/517636/ 2013-11-02T11:55:00Z