Zillow Advice RSS: Question-Discussion-Guide,Mortgage,Tempe- AZ http://www.zillow.com/advice/Tempe-AZ/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate what is the minimum down payment needed fora conventional loan http://www.zillow.com/advice-thread/what-is-the-minimum-down-payment-needed-fora-conventional-loan/599851/ 11 replies Wed, 12 Aug 2015 08:40:00 GMT http://www.zillow.com/advice-thread/what-is-the-minimum-down-payment-needed-fora-conventional-loan/599851/ 2015-08-12T08:40:00Z how can I find out if a condo is warantable in Tempe, AZ http://www.zillow.com/advice-thread/how-can-I-find-out-if-a-condo-is-warantable-in-Tempe-AZ/582025/ 5 replies Wed, 08 Apr 2015 04:41:00 GMT http://www.zillow.com/advice-thread/how-can-I-find-out-if-a-condo-is-warantable-in-Tempe-AZ/582025/ 2015-04-08T04:41:00Z Will I be approved http://www.zillow.com/advice-thread/Will-I-be-approved/580033/ So I recently made the decision to buy a home after having graduated college last May and being tired of throwing away my money renting. I currently am worried if I will be approved for a mortgage. I have no debt, I have a clean credit history , I have a credit score of around 750 (To my knowledge), and have a yearly income of around $34,000. Maybe its the jitters of buying my first place, but I'm just curious! Also, is there down payment/closing cost assistance available?<br \><br \>6 replies Mon, 23 Mar 2015 20:51:00 GMT http://www.zillow.com/advice-thread/Will-I-be-approved/580033/ 2015-03-23T20:51:00Z When ur only in h.s but planning for a future & someone buys the house that you want,what do you do? http://www.zillow.com/advice-thread/When-ur-only-in-h-s-but-planning-for-a-future-someone-buys-the-house-that-you-want-what-do-you-do/575593/ 10 replies Fri, 13 Feb 2015 15:51:00 GMT http://www.zillow.com/advice-thread/When-ur-only-in-h-s-but-planning-for-a-future-someone-buys-the-house-that-you-want-what-do-you-do/575593/ 2015-02-13T15:51:00Z Loan Origination Fee and Title Insurance seems high http://www.zillow.com/advice-thread/Loan-Origination-Fee-and-Title-Insurance-seems-high/556070/ Loan origination is $2100<br/>Title service/lender title insurance $1300<br/>Owner's title insurance $1000<br/><br/>&nbsp;<br \><br \>9 replies Sat, 23 Aug 2014 00:00:00 GMT http://www.zillow.com/advice-thread/Loan-Origination-Fee-and-Title-Insurance-seems-high/556070/ 2014-08-23T00:00:00Z Should we get a co-signer? http://www.zillow.com/advice-thread/Should-we-get-a-co-signer/558654/ My husband is about to get out of the military and then we will be relocating from Maine to Arizona. He will be attending ASU as a full time student and we will both be working some kind of job part time. <br/>We are looking to buy a home at or under 250k and we will have 20k in our savings to put towards our home. We both have credit scores over 750.<br/>We have looked into getting a VA home loan but everyone wants 6 months of steady income that we wont have when we arrive. <br/>Most people get a co-signer because of bad credit but for us its about not having income history. Would having&nbsp;a co-signer with a steady income record help us secure a home loan?<br \><br \>10 replies Wed, 10 Sep 2014 02:27:00 GMT http://www.zillow.com/advice-thread/Should-we-get-a-co-signer/558654/ 2014-09-10T02:27:00Z how do i refinance a home loan after a bankruptcy http://www.zillow.com/advice-thread/how-do-i-refinance-a-home-loan-after-a-bankruptcy/546442/ <p>my house was never re-affirmed after a bankruptcy 4 years ago.&nbsp; My payments don't show up on my credit report.&nbsp; My loan is through BofA and even though it benefits them to re-affirm my loan they say I can't even though other lenders swear that they can.&nbsp; Help.</p><br \><br \>4 replies Sat, 21 Jun 2014 02:23:00 GMT http://www.zillow.com/advice-thread/how-do-i-refinance-a-home-loan-after-a-bankruptcy/546442/ 2014-06-21T02:23:00Z What rights do the holder of a first mortgage have if second mortgage goes to foreclosuer http://www.zillow.com/advice-thread/What-rights-do-the-holder-of-a-first-mortgage-have-if-second-mortgage-goes-to-foreclosuer/522739/ 6 replies Mon, 30 Dec 2013 01:54:00 GMT http://www.zillow.com/advice-thread/What-rights-do-the-holder-of-a-first-mortgage-have-if-second-mortgage-goes-to-foreclosuer/522739/ 2013-12-30T01:54:00Z Looking for a 7 or 10 year fixed rate mortgage. http://www.zillow.com/advice-thread/Looking-for-a-7-or-10-year-fixed-rate-mortgage/537100/ <p>I'm in market for fixed rate 7-10 year mortgage approx. 80K Loan amount on 160 - 200K purchase in Tempe Arizona area. Current FICO approx. 720 Please reply.</p><br \><br \>10 replies Sat, 19 Apr 2014 05:10:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-7-or-10-year-fixed-rate-mortgage/537100/ 2014-04-19T05:10:00Z Understanding a Profit and Loss Statement http://www.zillow.com/advice-thread/Understanding-a-Profit-and-Loss-Statement/318695/ I have my yearly Taxes that I pretty much understand. It states right on it... Adjusted Gross Income. I know that is what I put in the loan request form. However for my 2009 I don't yet have my taxes complete. I had my Accountant print me a Profit and Loss Statement. My question is this:<br/><br/>What do I place off of my profit and loss statement as my Adjusted Gross? Is it the Gross Profit? Or is it the Income from Operations? Thank you for your help in this matter.<br \><br \>2 replies Tue, 26 Jan 2010 20:47:00 GMT http://www.zillow.com/advice-thread/Understanding-a-Profit-and-Loss-Statement/318695/ 2010-01-26T20:47:00Z mortgage rental to owner ratio is 1 http://www.zillow.com/advice-thread/mortgage-rental-to-owner-ratio-is-1/503638/ i want to buy a condo for investment purposes. we found out that the condo community has 124 homes. out of that 62 are primary or secondary residence. remaining 62 homes are investor homes or vacation homes, which were bought for cash by out of state buyers and there is no easy way to prove that they are vacation homes.&nbsp;<br/>my lender told me that i cannot get a loan as only 50% homes are primary or secondary homes. he told me that the required % is 51%. In short if two more homes were primary or secondary homes, i would have got the loan :(...<br/><br/>is there a way to get in my current situation? i am looking for 30 years fixed rate...<br \><br \>7 replies Thu, 25 Jul 2013 21:33:00 GMT http://www.zillow.com/advice-thread/mortgage-rental-to-owner-ratio-is-1/503638/ 2013-07-25T21:33:00Z Will I get preapproved for an FHA mortgage loan with credit score 620-656? http://www.zillow.com/advice-thread/Will-I-get-preapproved-for-an-FHA-mortgage-loan-with-credit-score-620-656/503880/ <p>In 2009/2010 my credit score was negatively effected&nbsp;and fell dramatically- due to family emergency situations, I had to settle all our credit debts through debt settlement process (all negotiated settlements were paid in full).&nbsp; Also, my late husband let one of his credit cards go into default so long that there was a judgement filed against him, which I paid/satisfied in full,&nbsp;filed with the court.&nbsp;&nbsp;I was NOT a joint owner on this cc acct.&nbsp;of his, yet this judgement appears on my credit report as well.&nbsp; My FICO score comes in at between 620-656 recently.&nbsp;<br/>Prior to 2009/2010, my credit score was very good and all payments and accts were current. SINCE, 2009/2010, all my payments are current and in good standing.&nbsp; I have steady, FT employment (I gross currently around $30K);am remarried now and would like to investigate if I could be preapproved for an FHA $125,000 loan here in Tempe AZ where we reside.&nbsp; Any advice or suggestions will be appreciated.&nbsp; Thank you.</p><br \><br \>6 replies Sat, 27 Jul 2013 14:49:00 GMT http://www.zillow.com/advice-thread/Will-I-get-preapproved-for-an-FHA-mortgage-loan-with-credit-score-620-656/503880/ 2013-07-27T14:49:00Z I've seen this asked at a different time but as new homebuyer looking to buy in the next 3 months, w http://www.zillow.com/advice-thread/I%27ve-seen-this-asked-at-a-different-time-but-as-new-homebuyer-looking-to-buy-in-the-next-3-months-w/502670/ 5 replies Fri, 19 Jul 2013 18:50:00 GMT http://www.zillow.com/advice-thread/I%27ve-seen-this-asked-at-a-different-time-but-as-new-homebuyer-looking-to-buy-in-the-next-3-months-w/502670/ 2013-07-19T18:50:00Z What is the possibilty of refinancing with short sale and foreclosure history? http://www.zillow.com/advice-thread/What-is-the-possibilty-of-refinancing-with-short-sale-and-foreclosure-history/497470/ I was a small time investor when the market crashed and as a result I ended up with <br/>3 hits:<br/>May 2009- foreclosure<br/>August 2009- short sale<br/>April 2011- short sale<br/>I have no other debt or credit hits, and over 30% equity in my home.<br/>I have been told 4 different answers from 4 different lenders.<br/>I want the truth from someone so I can refinance when it is appropriate.<br/><br \><br \>6 replies Mon, 17 Jun 2013 03:38:00 GMT http://www.zillow.com/advice-thread/What-is-the-possibilty-of-refinancing-with-short-sale-and-foreclosure-history/497470/ 2013-06-17T03:38:00Z Loan for self employed http://www.zillow.com/advice-thread/Loan-for-self-employed/481437/ I've been told that if I have a 2 year degree and 1 year on the job that's enough to qualify for a conventional loan.&nbsp; Is that accurate?<br/>I always thought you needed 2 years on the job.<br/>Thank you in advance for you help :)<br \><br \>8 replies Tue, 05 Mar 2013 19:41:00 GMT http://www.zillow.com/advice-thread/Loan-for-self-employed/481437/ 2013-03-05T19:41:00Z First time buyer- FHA 4-plex http://www.zillow.com/advice-thread/First-time-buyer-FHA-4-plex/477183/ <p>I am a prospective first time buyer who is very interested in getting a FHA loan for a multifamily property such as a fourplex, where I could live in one apartment and rent out the other three.&nbsp; I have looked at a couple of properties here on zillow that look like they might work, but am not sure I would qualify for financing.<br/><br/>My background-&nbsp; Graduated College August 2009.&nbsp; Dec 2009-February 2012- Lived and worked&nbsp;overseas as an English Teacher.... August 2012 to Present- Working as&nbsp;a Pharmacy Technician in Tempe, AZ.<br/>I have no student loan debt- all paid off.<br/>Credit score is 733<br/>I currently make about 2000 dollars a month. (My salary&nbsp;overseas was slightly more)<br/>I am interviewing for teaching position here Arizona in a couple of weeks...<br/><br/>I have about $5000 dollars saved up for the down payment.<br/>I would be sharing the&nbsp;apartment I live in with my brother who also makes about $2000 a month and has about $2000 saved.<br/><br/>My current lease is up in July.... So that is more around the time I would like to move in and give me time save up some more dough and get my tax return...<br/><br/>The main thing I see blocking me is&nbsp;my work history.&nbsp; Does two years Overseas count? Does having only 7 months to 1 year work history here really going to hurt me?<br/>If I accept a higher paying job as a teacher will I have to start from square one?&nbsp; If the rental income of the fourplex more than covers the mortgage, taxes and fees, will my income really matter so much?</p><br \><br \>9 replies Mon, 04 Feb 2013 06:50:00 GMT http://www.zillow.com/advice-thread/First-time-buyer-FHA-4-plex/477183/ 2013-02-04T06:50:00Z What can I do to get more (or better) quotes for my loan request ZR-PHVVPPJ? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-PHVVPPJ/473579/ 3 replies Tue, 08 Jan 2013 14:29:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-PHVVPPJ/473579/ 2013-01-08T14:29:00Z What can I do to get more (or better) quotes for my HARP 2 loan request ZR-VSGLZKS? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-HARP-2-loan-request-ZR-VSGLZKS/473263/ Wondering if there is a lender out there offering a better terms on HARP 2.0 refinance?<br/><br/>I have been offered a 3.875% rate, 30yrs fixed.<br/>My current lender wants nearly $7000 in fees.<br/>My credit scores are 795 to 807. <br/>Home value is about $79K<br/>Mortgage balance is about $122K.<br/>I am 9 years in current employment, $92K gross earnings in 2012.<br/><br \><br \>4 replies Sat, 05 Jan 2013 23:04:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-HARP-2-loan-request-ZR-VSGLZKS/473263/ 2013-01-05T23:04:00Z International Student Buying Apartment (Condo Type) with F-1? http://www.zillow.com/advice-thread/International-Student-Buying-Apartment-Condo-Type-with-F-1/436178/ Hello&nbsp;<br/>I will be staying in the United States for more than 6 years from now on because I have recently got accepted to Ph.D program.<br/>My VISA will be F-1 and I will be working as Research Assistant and my annual income will be around $19,000 USD.<br/><br/>I think that buying an apartment (condo) in Arizona is relatively cheap and I am thinking about purchasing around $40,000 ~ $50,000 worth apartment.<br/><br/>Also, I will be available to pay more than 50% of down payment.<br/><br/>I am not sure whether I can purchase an apartment with mortgage in this case.<br/><br/>Also, I am not sure whether international student has to pay any special (extra) tax for buying house.<br/><br/>Thank you so much for your time!&nbsp;<br \><br \>1 reply Thu, 22 Mar 2012 04:49:00 GMT http://www.zillow.com/advice-thread/International-Student-Buying-Apartment-Condo-Type-with-F-1/436178/ 2012-03-22T04:49:00Z should I be behind in my monthy house payment prior to asking lender about home loan modification? http://www.zillow.com/advice-thread/should-I-be-behind-in-my-monthy-house-payment-prior-to-asking-lender-about-home-loan-modification/378847/ I am also on social security disability &amp; does that make a difference?&nbsp; I have been on SSI Disability for 1+ year. And, should I be behind in my monthy house payment prior to asking lender about home loan modification? I have heard you must be 3 months past due or your lender wiill not even discuss the issue, or if they do it is just lip service and nothing will happen if you are current on your payments.&nbsp;My loan is with Bank of America and has always been on time, B of A inherited the loan from Countrywide when they purchased that company.<br \><br \>8 replies Wed, 29 Dec 2010 02:37:00 GMT http://www.zillow.com/advice-thread/should-I-be-behind-in-my-monthy-house-payment-prior-to-asking-lender-about-home-loan-modification/378847/ 2010-12-29T02:37:00Z