Zillow Advice RSS: Question-Discussion-Guide,Mortgage,Columbia- SC http://www.zillow.com/advice/Columbia-SC/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Does anyone know of a lender that offers Non-Warrantable condo financing? http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-offers-Non-Warrantable-condo-financing/495382/ <p class="MsoNormal">I have a 786 score and 20% down. Does anyone know of a lender or mortgage broker in South Carolina who will finance a condo that is non-warrantable?</p><p class="MsoNormal">I am in the process of purchasing an investment property (condo) in Columbia, SC. My loan application with Bank of America Home Loans has recently has been halted due to a single entity at the project owning more than 10%. I am putting 20% down and need a loan amount of $44,800</p><br \><br \>4 replies Tue, 04 Jun 2013 18:24:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-offers-Non-Warrantable-condo-financing/495382/ 2013-06-04T18:24:00Z Getting a mortgage as a PhD student http://www.zillow.com/advice-thread/Getting-a-mortgage-as-a-PhD-student/580416/ My wife and I are looking to move into the Columbia area for a PhD program at the University of South Carolina. As it will be at least 5 years there, we are looking to buy a home. I will be receiving a $21,000/ year stipend, and she will be working full time. Unfortunately, I've heard that my stipend cannot be considered, making our effective income too low for even the ~$80,000 houses we are looking at. How should we proceed?<br/><br/>Additionally, as we don't currently live in the state, it has been difficult trying to figure out exactly who to contact as a lender. Can one in our current state handle it, or do we need to start calling lenders in SC? If the latter is the case, where do we begin to look?<br \><br \>2 replies Thu, 26 Mar 2015 17:07:00 GMT http://www.zillow.com/advice-thread/Getting-a-mortgage-as-a-PhD-student/580416/ 2015-03-26T17:07:00Z 3% down for conventional loan ??? http://www.zillow.com/advice-thread/3-down-for-conventional-loan/520616/ I talked with a real estate agent today who said he has a client who went conventional with only 3% down. Maybe the guy had a bunch of cash he just didn't want to put down? I should probably ask him. But how common is this? Looking to buy around March of next year. Here's my current financial picture:&nbsp;<br/><br/>2012 W-2 = $50,000<br/>2013 W-2 = $60,000<br/>2014 W-2 = estimate of $65,000 ($60,000 base + $5,000 bonus<br/><br/>Been at the same job since August of 2012.&nbsp;<br/><br/>Debt = $8,000 balance on student loan, $3,500 credit card (0% interest, min payment is ~ $40 /month. Student loan payment is $134. That is my only debt. No car debt, etc.&nbsp;<br/><br/>My credit score per creditkarma.com is 780.&nbsp;<br/><br/>I want to buy in the $170-$230 range but only have about $5,000 saved up. How likely do you think it is I can find a lender to do conventional for 3% down? Or is this just a silly question for an online forum? In other words, should I just go talk to a mortgage banker now?<br \><br \>11 replies Mon, 02 Dec 2013 23:47:00 GMT http://www.zillow.com/advice-thread/3-down-for-conventional-loan/520616/ 2013-12-02T23:47:00Z Does anyone know of a lender that offers Non-Warrantable condo financing? http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-offers-Non-Warrantable-condo-financing/495382/ <p class="MsoNormal">I have a 786 score and 20% down. Does anyone know of a lender or mortgage broker in South Carolina who will finance a condo that is non-warrantable?</p><p class="MsoNormal">I am in the process of purchasing an investment property (condo) in Columbia, SC. My loan application with Bank of America Home Loans has recently has been halted due to a single entity at the project owning more than 10%. I am putting 20% down and need a loan amount of $44,800</p><br \><br \>3 replies Tue, 04 Jun 2013 18:24:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-offers-Non-Warrantable-condo-financing/495382/ 2013-06-04T18:24:00Z Paying $$$ for title services and lender's title insurance on new construction with 70% down? http://www.zillow.com/advice-thread/Paying-for-title-services-and-lender%27s-title-insurance-on-new-construction-with-70-down/528904/ I'm looking at purchasing a newly-constructed home in a subdivision for about $210k, with $150k down payment (about 70%). <br/><br/>I've been quoted roughly $1700 just for "title services and lender's title insurance" portion of the loan and closing costs&nbsp; -&nbsp; which seems high considering the large downpayment and the fact that the home has never been owned/occupied before.<br/><br/>I realize there going to be some costs associated with the title and processing, but considering it's a clean and brand-new property/home, what is the need for lender's insurance?<br/><br/><br/>Should I be suspicious of this or negotiate for a significant cost reduction? <br/><br/><br/>&nbsp; <br/><br/><br \><br \>1 reply Tue, 18 Feb 2014 16:33:00 GMT http://www.zillow.com/advice-thread/Paying-for-title-services-and-lender%27s-title-insurance-on-new-construction-with-70-down/528904/ 2014-02-18T16:33:00Z ANY MORTGAGE BROKER IN SC CAN HELP ME IN MY SITUATION?? http://www.zillow.com/advice-thread/ANY-MORTGAGE-BROKER-IN-SC-CAN-HELP-ME-IN-MY-SITUATION/523325/ Me and my fiance are still in the process of trying to buy a home. We've decided to go with a mortgage broker to assist us in finding a loan due to the fact they have more resources to work with. I haven't contacted anyone due to the fact that I'm a little afraid of rejection and that's because we both don't have the best of credit. Currently my credit score is 668 (Equifax) and his is 617 (Equifax) and we've recently paid off all of our negative and collection accounts (mostly student loans and medical bills) so our scores could rise in the near future. We've both been employed for 5 years at the same job and combined we make $66K/year. We also are in good standings with our credit cards. The home we are looking at now is going for $79K...are there any brokers from the Columbia/Lexington area that may be able to assist with our situation and find us a loan?<br \><br \>4 replies Sat, 04 Jan 2014 23:49:00 GMT http://www.zillow.com/advice-thread/ANY-MORTGAGE-BROKER-IN-SC-CAN-HELP-ME-IN-MY-SITUATION/523325/ 2014-01-04T23:49:00Z 3% down for conventional loan ??? http://www.zillow.com/advice-thread/3-down-for-conventional-loan/520616/ I talked with a real estate agent today who said he has a client who went conventional with only 3% down. Maybe the guy had a bunch of cash he just didn't want to put down? I should probably ask him. But how common is this? Looking to buy around March of next year. Here's my current financial picture:&nbsp;<br/><br/>2012 W-2 = $50,000<br/>2013 W-2 = $60,000<br/>2014 W-2 = estimate of $65,000 ($60,000 base + $5,000 bonus<br/><br/>Been at the same job since August of 2012.&nbsp;<br/><br/>Debt = $8,000 balance on student loan, $3,500 credit card (0% interest, min payment is ~ $40 /month. Student loan payment is $134. That is my only debt. No car debt, etc.&nbsp;<br/><br/>My credit score per creditkarma.com is 780.&nbsp;<br/><br/>I want to buy in the $170-$230 range but only have about $5,000 saved up. How likely do you think it is I can find a lender to do conventional for 3% down? Or is this just a silly question for an online forum? In other words, should I just go talk to a mortgage banker now?<br \><br \>9 replies Mon, 02 Dec 2013 23:47:00 GMT http://www.zillow.com/advice-thread/3-down-for-conventional-loan/520616/ 2013-12-02T23:47:00Z I'm 1st time buyer w/710, buying new home for $265K, want conventional loan w/lowest dwn pymt pssibl http://www.zillow.com/advice-thread/I%27m-1st-time-buyer-w-710-buying-new-home-for-265K-want-conventional-loan-w-lowest-dwn-pymt-pssibl/505336/ Shopping for best conventional loan program with lowest down payment. I have 710 score, $72K/yr income, first time home buyer, Purchase price $256K, appraised value $262K, new energy efficient. What our my best options?<br \><br \>7 replies Mon, 05 Aug 2013 17:28:00 GMT http://www.zillow.com/advice-thread/I%27m-1st-time-buyer-w-710-buying-new-home-for-265K-want-conventional-loan-w-lowest-dwn-pymt-pssibl/505336/ 2013-08-05T17:28:00Z Can I get a mortgage? http://www.zillow.com/advice-thread/Can-I-get-a-mortgage/502140/ A neighbor of my parents is wanting to sell their house. Well, they aren't really wanting to sell it, just get out from underneath their loan. She is wanting to move out of the state and back to her hometown. The following is hopefully enough information that somebody can help me:<br/><br/>The house (mobile home)<br/>-1994 MH is pretty good shape, 1900 sqft<br/>-3 Acres of land<br/>-She owes $60,000 on the loan<br/>-House was appraised for about $62,000<br/><br/>My situation<br/>-I make 33,000 a year<br/>-I have only about $2,000 cash to put down<br/>-my monthly expenses are right about $800 a month<br/>-I am a first time home buyer<br/><br/>What sort of loans (if any) would I qualify for? I am completely new to this whole mortgage thing. Thanks.<br \><br \>1 reply Tue, 16 Jul 2013 14:22:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-mortgage/502140/ 2013-07-16T14:22:00Z What can I do to get more (or better) quotes for my loan request ZR-BSDNMZV? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-BSDNMZV/501788/ <p>What can I do to&nbsp; get more or better quotes for my loan request</p><br \><br \>2 replies Sun, 14 Jul 2013 00:29:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-BSDNMZV/501788/ 2013-07-14T00:29:00Z Does anyone know of a lender that will offer financing to a graduate student with a family cosigner? http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-will-offer-financing-to-a-graduate-student-with-a-family-cosigner/496682/ <p>I have a 786 score. Does anyone know of a lender or mortgage broker in South Carolina who will finance a loan with a family cosigner? Warrantable or non-warrantable. Family member will not live at the property, they are only offering financial support.<br/><br/>In the fall I start a PhD program (5-7 years to complete with full tuition waiver and stipend) at the University of South Carolina. I will be employed by the university part-time as I attend the program. My uncle will be a cosigner.</p><br \><br \>3 replies Wed, 12 Jun 2013 13:05:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-will-offer-financing-to-a-graduate-student-with-a-family-cosigner/496682/ 2013-06-12T13:05:00Z Does anyone know of a lender that will offer financing to a graduate student with a family cosigner? http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-will-offer-financing-to-a-graduate-student-with-a-family-cosigner/496667/ I have a 786 score and 20% down. Does anyone know of a lender or mortgage broker in South Carolina who will finance a condo that is non-warrantable? <br/><br/>I am in the process of purchasing a primary residency (condo) in Columbia, SC. My loan application with Bank of America Home Loans has recently been halted due to a single entity at the project owning more than 10%. I am putting 20% down and need a loan amount of $44,800. <br/><br/>In the fall I start a PhD program (5-7 years to complete with full tuition waiver and stipend) at the University of South Carolina. I will be employed by the university part-time as I attend the program. My uncle will be a cosigner. <br/><strong><br/>If cannot do non-warrantable condo, how about if I change the property to a single family home or a warrantable condo?</strong><br \><br \>3 replies Wed, 12 Jun 2013 11:20:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-of-a-lender-that-will-offer-financing-to-a-graduate-student-with-a-family-cosigner/496667/ 2013-06-12T11:20:00Z how can i use borrowed money for mortgage down payment http://www.zillow.com/advice-thread/how-can-i-use-borrowed-money-for-mortgage-down-payment/486244/ i borrowed money to pay off all my debt and thought i could use therest for down payment, now i'm told i can't do that!<br \><br \>8 replies Thu, 04 Apr 2013 10:37:00 GMT http://www.zillow.com/advice-thread/how-can-i-use-borrowed-money-for-mortgage-down-payment/486244/ 2013-04-04T10:37:00Z some of the harp programs are requiring a 48 month wait on a foreclosure on a investment property... http://www.zillow.com/advice-thread/some-of-the-harp-programs-are-requiring-a-48-month-wait-on-a-foreclosure-on-a-investment-property/470261/ 0 replies Mon, 03 Dec 2012 18:30:00 GMT http://www.zillow.com/advice-thread/some-of-the-harp-programs-are-requiring-a-48-month-wait-on-a-foreclosure-on-a-investment-property/470261/ 2012-12-03T18:30:00Z Refi after forclosure started but redeemed. http://www.zillow.com/advice-thread/Refi-after-forclosure-started-but-redeemed/469948/ So in 10/2010 we redeemed our loan out of foreclosure and have since been current with all of our payments. We don't qualify for for harp refi because of our original loan product, at least that is what I've been told multiple times. When will be able to refi like a normal person? Everyone takes one look at the history and says this is the same as a full foreclosure.<br \><br \>1 reply Fri, 30 Nov 2012 16:02:00 GMT http://www.zillow.com/advice-thread/Refi-after-forclosure-started-but-redeemed/469948/ 2012-11-30T16:02:00Z What can I do to get more (or better) quotes for my loan request ZR-YLHBPRY http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-YLHBPRY/468473/ 3 replies Wed, 14 Nov 2012 14:37:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-YLHBPRY/468473/ 2012-11-14T14:37:00Z How can I find a lender to refinance investment residential properties with terrific rental historie http://www.zillow.com/advice-thread/How-can-I-find-a-lender-to-refinance-investment-residential-properties-with-terrific-rental-historie/464343/ 2 replies Tue, 16 Oct 2012 16:20:00 GMT http://www.zillow.com/advice-thread/How-can-I-find-a-lender-to-refinance-investment-residential-properties-with-terrific-rental-historie/464343/ 2012-10-16T16:20:00Z Legally Separated, No Joint Debt. Still Having Issues with Lenders http://www.zillow.com/advice-thread/Legally-Separated-No-Joint-Debt-Still-Having-Issues-with-Lenders/427828/ I got married last January (2011). We separated in February 2011. So, we were married for one month before separating. It is now coming up on the one year legally separated in which I can file divorce papers. However, after the papers are filed in Feb, it can take months to get a court date to make it a legal divorce. We NEVER owned any property, cars etc together. Never accumulated any debt. We have absolutely NOTHING together. I never even changed my last name. Yesterday I called to get a <a href="http://www.zillow.com/mortgage-glossary/Pre-Approval/">pre-approval</a> and they told me to wait until the divorce was final. That is too long for me to wait. I'll be homeless in the spring&nbsp;(I'm renting at the moment but cannot rent month-month) and would like to get the house purchase under way. What can I do since this is such a cut and dry divorce where there is NO worry for debt etc...?<br \><br \>7 replies Fri, 06 Jan 2012 17:08:00 GMT http://www.zillow.com/advice-thread/Legally-Separated-No-Joint-Debt-Still-Having-Issues-with-Lenders/427828/ 2012-01-06T17:08:00Z Who will do a HARP loan on a rental property? http://www.zillow.com/advice-thread/Who-will-do-a-HARP-loan-on-a-rental-property/420408/ <p>Our former primary residence is now a rental and we would like to refinance under the HARP program.&nbsp; It is a FNMA loan, with a BofA equity line in second lien position.&nbsp; Can anyone recommend a lender in South Carolina who can help.<br/><br/>Thanks!!</p><br \><br \>0 replies Mon, 24 Oct 2011 17:30:00 GMT http://www.zillow.com/advice-thread/Who-will-do-a-HARP-loan-on-a-rental-property/420408/ 2011-10-24T17:30:00Z What can I do to get more (or better) quotes for my loan request ZR-CWQVBLC http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CWQVBLC/397279/ 1 reply Mon, 02 May 2011 02:18:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-CWQVBLC/397279/ 2011-05-02T02:18:00Z