Zillow Advice RSS: Question-Discussion-Guide,Mortgage,Haverhill- MA http://www.zillow.com/advice/Haverhill-MA/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Portfolio Loan needed in MA condo under contract http://www.zillow.com/advice-thread/Portfolio-Loan-needed-in-MA-condo-under-contract/535871/ I am looking for a portfolio lender and here are the stats of my situation:&nbsp;<br/><br/>Condo<br/>Haverhill, MA<br/>9 units (1 unit, 8 residential square footage of all units around 800-850)<br/>Good owner occupancy: 6/9<br/>Purchase price: $111,000<br/>Down payment: 5%<br/>Assets: $6k in the bank (AFTER putting down the down payment)&nbsp;<br/>Credit score over 750<br/>Monthly debts: around $203 (student loan plus $25 credit card)<br/>Income: Self-employed real estate agent $2,781 monthly<br/><br/>Some portfolio lenders are rejecting me because my assets are low....that's because I'm stuck in Boston paying ridiculous rents and I want to OBTAIN an asset. I've also paid back a private student loan of $30k in less than 3 years. I'm a PhD student and a full time real estate agent. I am shocked that it's becoming this difficult to find someone to lend me $105,450 for my first home...that will cost me less monthly than I already pay.&nbsp;<br/><br/>Specifically for the unit: it is currently a 1 bed and I'm going to turn it into a 2 bed and rent out one of the bedrooms to a friend. Clearly I can afford these payments.&nbsp;<br/><br/>If anyone has any contacts that would finance this situation I would be greatly appreciative and refer you real estate business outside my coverage area of greater Boston!&nbsp;<br/><br/>David&nbsp;<br/><br \><br \>5 replies Thu, 10 Apr 2014 03:49:00 GMT http://www.zillow.com/advice-thread/Portfolio-Loan-needed-in-MA-condo-under-contract/535871/ 2014-04-10T03:49:00Z Cash only condo http://www.zillow.com/advice-thread/Cash-only-condo/522726/ Im preapproved for a mortgage, but of course the place i like is a cash only short sale. Is there any type of loan that will give me cash up front?<br \><br \>4 replies Sun, 29 Dec 2013 22:08:00 GMT http://www.zillow.com/advice-thread/Cash-only-condo/522726/ 2013-12-29T22:08:00Z Does anyone know any Harp lenders in Massachusetts/Merrimack Valley Area http://www.zillow.com/advice-thread/Does-anyone-know-any-Harp-lenders-in-Massachusetts-Merrimack-Valley-Area/443105/ 2 replies Thu, 17 May 2012 06:11:00 GMT http://www.zillow.com/advice-thread/Does-anyone-know-any-Harp-lenders-in-Massachusetts-Merrimack-Valley-Area/443105/ 2012-05-17T06:11:00Z Jumbo Loans Come Out of Hiding http://www.zillow.com/advice-thread/Jumbo-Loans-Come-Out-of-Hiding/374709/ [Deleted for spam]<br \><br \>5 replies Fri, 12 Nov 2010 19:32:00 GMT http://www.zillow.com/advice-thread/Jumbo-Loans-Come-Out-of-Hiding/374709/ 2010-11-12T19:32:00Z Why Reverse Mortgages Are Popular http://www.zillow.com/advice-thread/Why-Reverse-Mortgages-Are-Popular/374403/ Recent legislation and changes in the marketplace are increasing the use of reverse mortgages. Here are three factors that make reverse mortgages an improved retirement-planning tool.<br/><br/><strong>1. Fees are lower.</strong> The government, with support from lenders, has revised how reverse mortgages are structured.<br/><br/><strong>2. Loans are more flexible.</strong> New loans let borrowers take money as they need it instead of all at once.<br/><br/><strong>3. Selling isn't always feasible.</strong> Reverse mortgages generally don't pay as much as selling a house outright, but these days selling a house can be very difficult.<br/><br/>Source: <a href="http://www.realtor.org/RMODaily.nsf/pages/News2010110202?OpenDocument" rel="nofollow">National Association of Realtors&reg;</a><br \><br \>5 replies Wed, 10 Nov 2010 02:13:00 GMT http://www.zillow.com/advice-thread/Why-Reverse-Mortgages-Are-Popular/374403/ 2010-11-10T02:13:00Z Freddie Mac Open Access Making Home Affordable - With LPMI http://www.zillow.com/advice-thread/Freddie-Mac-Open-Access-Making-Home-Affordable-With-LPMI/305157/ Does anyone know if there are any <a href="http://www.zillow.com/directory/lenders/">lenders</a> out there that can <a href="http://www.zillow.com/refinance/">refinance</a> a <a href="http://www.zillow.com/mortgage/">mortgage</a> that has LPMI on it if they are not the servicer of the mortgage?&nbsp; There seems to be guidelines put in place for this but no lenders seem to be able to do it.&nbsp; I am currently stuck with a lender that does not participate in this program.<br \><br \>1 reply Wed, 09 Dec 2009 02:51:00 GMT http://www.zillow.com/advice-thread/Freddie-Mac-Open-Access-Making-Home-Affordable-With-LPMI/305157/ 2009-12-09T02:51:00Z PLEASE CANCEL THIS REQUEST, THE RATES ARE TOO HIGH TO REFIN.THANK YOU. http://www.zillow.com/advice-thread/PLEASE-CANCEL-THIS-REQUEST-THE-RATES-ARE-TOO-HIGH-TO-REFIN-THANK-YOU/279820/ PLEASE CANCLE THIS REQUEST FOR REFIN AS THE RATES ARE TOO HIGH TO JUSTIFY A CHANGE. THANK YOU....<br \><br \>3 replies Thu, 17 Sep 2009 20:20:00 GMT http://www.zillow.com/advice-thread/PLEASE-CANCEL-THIS-REQUEST-THE-RATES-ARE-TOO-HIGH-TO-REFIN-THANK-YOU/279820/ 2009-09-17T20:20:00Z Should I refinance? Owe $185k on a home worth 186k in Haverhill, ma. I bought it for 247k at 5.5% http://www.zillow.com/advice-thread/Should-I-refinance-Owe-185k-on-a-home-worth-186k-in-Haverhill-ma-I-bought-it-for-247k-at-5-5/272439/ 1 reply Wed, 26 Aug 2009 17:02:00 GMT http://www.zillow.com/advice-thread/Should-I-refinance-Owe-185k-on-a-home-worth-186k-in-Haverhill-ma-I-bought-it-for-247k-at-5-5/272439/ 2009-08-26T17:02:00Z