Zillow Advice RSS: Question-Discussion-Guide,Mortgage,PA http://www.zillow.com/advice/PA/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate I need some advice regarding gifting and down payment for a house. http://www.zillow.com/advice-thread/I-need-some-advice-regarding-gifting-and-down-payment-for-a-house/598158/ I need some advice regarding gifting a down payment for a house. My fiance is gifting me part of the down payment. However, I am a US citizen and he is a Peruvian citizen. How would he send this to me from Peru so that there is a paper trail without paying the outrageous fees of the banks there? Also, it needs to be converted from soles to dollars. The account he is sending it from is his business account, not personal. (I do know the tax laws for this situation.) Any help would be greatly appreciated.<br \><br \>4 replies Fri, 31 Jul 2015 23:26:00 GMT http://www.zillow.com/advice-thread/I-need-some-advice-regarding-gifting-and-down-payment-for-a-house/598158/ 2015-07-31T23:26:00Z Refinancing and renting http://www.zillow.com/advice-thread/Refinancing-and-renting/597806/ My fiance and I are currently trying to relocate as she is looking for employment. &nbsp;The loan on our house is &nbsp;PHFA loan in PA. &nbsp;In the agreement it states we cannot rent it out. &nbsp;Hence why we are trying to sell it. &nbsp;We are having a tough time selling it and really thought about renting it. &nbsp;We would, obviously, need to refinance to another load type to do this. &nbsp;But would that even been allowed? &nbsp;We're looking for advice on how to handle our situation. &nbsp;There are no jobs in this area and we really need to get out.<br \><br \>3 replies Wed, 29 Jul 2015 20:12:00 GMT http://www.zillow.com/advice-thread/Refinancing-and-renting/597806/ 2015-07-29T20:12:00Z Mortgage Broker/Lender that knows BK/Foreclosure timelines and mortgage programs (Pennsylvania) http://www.zillow.com/advice-thread/Mortgage-Broker-Lender-that-knows-BK-Foreclosure-timelines-and-mortgage-programs-Pennsylvania/597747/ I'm looking for a knowledgeable broker/lender that has dealt with foreclosures where the mortgage was included in the bankruptcy in PA. &nbsp;BK was in '09, mortgage was included but house not foreclosed until '10. &nbsp;I know I'm within FHA guidelines but want to know about conventional as I believe Fannie Mae changed guidelines last July. Finding someone reputable and knowledgeable has been a HUGE challenge.<br/><br/>Thanks.<br \><br \>3 replies Wed, 29 Jul 2015 12:38:00 GMT http://www.zillow.com/advice-thread/Mortgage-Broker-Lender-that-knows-BK-Foreclosure-timelines-and-mortgage-programs-Pennsylvania/597747/ 2015-07-29T12:38:00Z Military Veteran with Bad Credit Seeking Home http://www.zillow.com/advice-thread/Military-Veteran-with-Bad-Credit-Seeking-Home/597214/ We are 23 years retired military and we have tried everything to get a home but our credit score is below 600 due to my husband's constant deployments, family separations, and moving around every two-three years. Plus, we even had a tax lien out on us that has been forgiven due to a state mistake and we have letters of apology and forgiveness from the state to prove it, but it is still there on the credit report after two years. We have tried every possible way to get it removed, but we are not credit experts and we don't have the money for credit repair companies. Are there any mortgage companies that work with VA and credit scores between 500-600?? I have seen other posts from different states where lenders have proven track records of working with Veterans with bad credit and successfully helping them, but we need a local lender. Please assist. After all this time serving, Veterans and their families should be the first to be able to enjoy the American Dream and we can't while others reap the benefits.<br \><br \>5 replies Sat, 25 Jul 2015 12:56:00 GMT http://www.zillow.com/advice-thread/Military-Veteran-with-Bad-Credit-Seeking-Home/597214/ 2015-07-25T12:56:00Z Lenders/Realtors who work best w/ First Time Owners w/ Bad Credit http://www.zillow.com/advice-thread/Lenders-Realtors-who-work-best-w-First-Time-Owners-w-Bad-Credit/444708/ <p>My husband and I have been working really hard to own our first home, but we have bad credit due to things in the past :-(&nbsp; What lender would work with us and how can I find a realtor that is good with working with first time home owners</p><br \><br \>10 replies Tue, 29 May 2012 20:31:00 GMT http://www.zillow.com/advice-thread/Lenders-Realtors-who-work-best-w-First-Time-Owners-w-Bad-Credit/444708/ 2012-05-29T20:31:00Z Investment Property Mortgage Qualification - Cash-out Refi http://www.zillow.com/advice-thread/Investment-Property-Mortgage-Qualification-Cash-out-Refi/596542/ OK so I need some help...<br/><br/>Here is my situation:<br/>Income<br/>110/yr<br/>Assets<br/>90K in 401k<br/>4k in savings<br/>125K Primary Res Value<br/>Liabilities<br/>965 Primary Res Mortgage (includes T&amp;I) 1st Lien for 88K<br/>56 Primary Res Mortgage 2nd Lien for 5K<br/>600 Auto Lease<br/>220 Auto Loan<br/>0 Credit Card Debt<br/>Credit <br/>700+&nbsp; Had some issues 6+ years ago but all paid off.&nbsp; Never late on mtge or auto.<br/><br/><br/>I want to buy an investment property for 10-20k foreclosure, invest up to 30K worth of repairs and refurbishments.&nbsp; I will utilize my 401k for a short term loan for the purchase and repairs.&nbsp;&nbsp; <br/><br/>The home will appraise for 80K+<br/><br/>My questions are:<br/>1.&nbsp; Can I do a cashout refi on the investment property for the purchase price+repair costs to pay my 401k loan off?<br/>2.&nbsp; Will my credit issues I resolved 6+ years ago come back to haunt me?<br \><br \>3 replies Tue, 21 Jul 2015 03:53:00 GMT http://www.zillow.com/advice-thread/Investment-Property-Mortgage-Qualification-Cash-out-Refi/596542/ 2015-07-21T03:53:00Z Thin to no credit, can I still get a mortgage? http://www.zillow.com/advice-thread/Thin-to-no-credit-can-I-still-get-a-mortgage/532353/ I'm in urgent need to move asap but refuse to rent. I have talked to plenty of people but everyone act like they can't help and that I'm a lost cause. :-( I have 5 months of history and only one line of credit, I'm pretty sure I can qualify for something....... Anyone out there that can help????<br \><br \>12 replies Fri, 14 Mar 2014 20:14:00 GMT http://www.zillow.com/advice-thread/Thin-to-no-credit-can-I-still-get-a-mortgage/532353/ 2014-03-14T20:14:00Z How do I remove someone from a mortgage and deed. http://www.zillow.com/advice-thread/How-do-I-remove-someone-from-a-mortgage-and-deed/199960/ <p>when my mom bought the house it was under 3 people. My sister, mom, and step brother. My stepbrother doesn't want anything to do with the house and wants to get off the <a href="http://www.zillow.com/mortgage/">mortgage</a> and deed. How can I do this?</p><br \><br \>14 replies Mon, 16 Feb 2009 18:40:00 GMT http://www.zillow.com/advice-thread/How-do-I-remove-someone-from-a-mortgage-and-deed/199960/ 2009-02-16T18:40:00Z Mortgage to buy new primary residence while keeping duplex/investment property http://www.zillow.com/advice-thread/Mortgage-to-buy-new-primary-residence-while-keeping-duplex-investment-property/596345/ <p>I currently live/own a duplex.&nbsp; I owe $102K on it and plan to keep it.&nbsp; I've had a tenant for 2+ years since I've owned it and he pays $900 rent.&nbsp; I want to purchase a new home in the $250K range.&nbsp; I have about $10K liquid for a down payment.&nbsp; I have credit 750 score and only debt is $200/mo student loan.</p><p>What kind of mortgage am I qualified for and how much cash will I need?&nbsp; Am I able to combine the two loans into one?&nbsp; Wondering if there are loans with low down payment requirements or if I should wait to accumulate more cash.&nbsp;</p><p>Thanks!</p><br \><br \>4 replies Sun, 19 Jul 2015 20:39:00 GMT http://www.zillow.com/advice-thread/Mortgage-to-buy-new-primary-residence-while-keeping-duplex-investment-property/596345/ 2015-07-19T20:39:00Z FHA closing costs http://www.zillow.com/advice-thread/FHA-closing-costs/586943/ Are there any FHA closing cost or down payment assistance programs in the Pittsburgh area?<br \><br \>5 replies Fri, 15 May 2015 02:35:00 GMT http://www.zillow.com/advice-thread/FHA-closing-costs/586943/ 2015-05-15T02:35:00Z Work history and mortgage advice needed please. http://www.zillow.com/advice-thread/Work-history-and-mortgage-advice-needed-please/590051/ Hi, I used to work in a cemetery for 6-7 years as a seasonal laborer. We worked the position and got laid off for the winter season. During the last year there, they did away with the position all together. While this happened, I was trying to get on the full time position there but it didn't happen so I took 4-5 years off to work on writing.<br/><br/>Recently, I got hired full time as a Union worker at the same cemetery and have been there 4 months now. With a son and girlfriend now, it's time to get away from renting ($900/mo) and get a home. Now her credit is shot currently so I can't rely much on her. We both make decent money and have our eyes on a home at $82,000.<br/><br/>My question is what are my options here since I don't have a consistent 2 year work history? Is there anything I can do to purchase a home or am I screwed into waiting an additional year and a half at $900/mo in rent being wasted?<br \><br \>3 replies Sat, 06 Jun 2015 01:50:00 GMT http://www.zillow.com/advice-thread/Work-history-and-mortgage-advice-needed-please/590051/ 2015-06-06T01:50:00Z Home affordability http://www.zillow.com/advice-thread/Home-affordability/595984/ Live in Chest county PA. Make $44k a year with $358 in monthly debt. Have $17k available for down payment/closing costs. Credit score above 700. Would I be able to afford a $170,000 home?&nbsp;<br \><br \>3 replies Thu, 16 Jul 2015 20:30:00 GMT http://www.zillow.com/advice-thread/Home-affordability/595984/ 2015-07-16T20:30:00Z Possible first time home buyer? http://www.zillow.com/advice-thread/Possible-first-time-home-buyer/587873/ Hello, I'm interested in buying my own home within the next 5-10 years and have a few questions. A little bit about me: I'm currently trying to raise my credit score and save for a down payment. I currently work 2 part time jobs that pay roughly $20,000 - $23,000 a year combined. And... I would like to buy a home outside the Philadelphia, Pa. area for about $200,000 - $210,000. My questions are: 1. Is it possible for me to get a mortgage like that considering that I make that much? 2. I know that the norm for a down payment is 20%, but what if I was able to put more down? Would that help me get the mortgage that I'm looking for or is it just wishful thinking? 3. Who could I ask if I have more questions? Any help is appreciated. Thank you.<br \><br \>6 replies Thu, 21 May 2015 13:29:00 GMT http://www.zillow.com/advice-thread/Possible-first-time-home-buyer/587873/ 2015-05-21T13:29:00Z Freddie Mac- Non Occ co broower- PMI? http://www.zillow.com/advice-thread/Freddie-Mac-Non-Occ-co-broower-PMI/595776/ 5 replies Wed, 15 Jul 2015 17:42:00 GMT http://www.zillow.com/advice-thread/Freddie-Mac-Non-Occ-co-broower-PMI/595776/ 2015-07-15T17:42:00Z IBR student loan repayment plan and mortgage http://www.zillow.com/advice-thread/IBR-student-loan-repayment-plan-and-mortgage/588936/ Hello,<br/><br/>I am in Lancaster Pennsylvania and me and my wife are looking to buy a home. &nbsp;I keep getting a run around about my IBR student loan repayment plan. &nbsp;I am paying $0/month and have been for 2 years. &nbsp;My fedloan document shows a payment of $0 for 142 months. &nbsp;It has been suggested to put them into deferment for 12 months but I am not doing that, I work at a school so with 10 years of payments my loans will be forgiven. &nbsp;<br/>I keep hearing they need to calculate 1% which is $660/month and I know this is BS and if it is not, it is wrong.<br/><br/>Any suggestions or good mortgage companies near me that can help, know IBR plans and won't screw us over with lies?<br/><br/>Thanks.<br \><br \>10 replies Fri, 29 May 2015 13:56:00 GMT http://www.zillow.com/advice-thread/IBR-student-loan-repayment-plan-and-mortgage/588936/ 2015-05-29T13:56:00Z What mortgage options are available for a low income (first home) buyer with good credit? http://www.zillow.com/advice-thread/What-mortgage-options-are-available-for-a-low-income-first-home-buyer-with-good-credit/595510/ My credit score is 735-750, but I have a relatively low income. My income enough to afford rent right now and pay my bills, but I would like to buy a house instead of wasting thousands of dollars a year on rent. I won't have savings available for a down payment. What sort of mortgage options are out there for people with limited down payments in Pennsylvania? I've been searching to no avail.<br \><br \>3 replies Tue, 14 Jul 2015 01:54:00 GMT http://www.zillow.com/advice-thread/What-mortgage-options-are-available-for-a-low-income-first-home-buyer-with-good-credit/595510/ 2015-07-14T01:54:00Z will FHA finance a single wide on a concrete foundation http://www.zillow.com/advice-thread/will-FHA-finance-a-single-wide-on-a-concrete-foundation/595154/ I am FHA and first time home buyer qualified. Credit score 800+ . the single wide was built in 2004 put on a full foundation/basement. It has 600+ floor space. Square footage is 900+. On a private 2.5 acre lot. I have read all the FHA and HUD guidelines and can not find a reason this could not be financed. But I am being told by my lender it is not going to be able to be FHA financed.<br \><br \>3 replies Sat, 11 Jul 2015 15:16:00 GMT http://www.zillow.com/advice-thread/will-FHA-finance-a-single-wide-on-a-concrete-foundation/595154/ 2015-07-11T15:16:00Z How to get someone off Deed and Mortgage http://www.zillow.com/advice-thread/How-to-get-someone-off-Deed-and-Mortgage/510232/ My girlfriend bought her house in 2006 with her ex boyfriend. He paid half the mortgage from 2006 - 2008 and then moved out and she stayed and paid everything in FULL from her bank account. She now wants to get him removed, how does she do it and what is he entitled too?<br \><br \>14 replies Fri, 06 Sep 2013 15:35:00 GMT http://www.zillow.com/advice-thread/How-to-get-someone-off-Deed-and-Mortgage/510232/ 2013-09-06T15:35:00Z How do I contest a really low appraisal for my property? http://www.zillow.com/advice-thread/How-do-I-contest-a-really-low-appraisal-for-my-property/577603/ I was refinancing my home and the appraiser they sent made several mistakes in &nbsp;my property description, left out certain key upgrades to the property and compared my house to a much smaller house down the street. &nbsp;The appraisal came in $60,000 below Zillow estimate! &nbsp;How do I, as the homeowner, make sure corrections are made to the data base about my house, and further, what can I do to get a corrected appraisal?<br \><br \>13 replies Tue, 03 Mar 2015 16:39:00 GMT http://www.zillow.com/advice-thread/How-do-I-contest-a-really-low-appraisal-for-my-property/577603/ 2015-03-03T16:39:00Z 100% Cash Out Refi Available for Non-VA? http://www.zillow.com/advice-thread/100-Cash-Out-Refi-Available-for-Non-VA/594740/ Is there such a thing? &nbsp;We gained quite a bit of equity in our house in the first year, and I am looking to do a 100% cash out refi to consolidate some high -interest credit cards. &nbsp;<br/><br/>Numbers:<br/>Principle Balance = $247000<br/>Appraised Value = $260800<br/>Loan To Value = 91.5%<br/>Credit Score = 650-690<br/><br/>Ideally looking for a lender that would absorb closing costs...<br/>&nbsp;<br \><br \>5 replies Thu, 09 Jul 2015 01:03:00 GMT http://www.zillow.com/advice-thread/100-Cash-Out-Refi-Available-for-Non-VA/594740/ 2015-07-09T01:03:00Z