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 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 Refinance to purchase second home or get an independante mortgage? http://www.zillow.com/advice-thread/Refinance-to-purchase-second-home-or-get-an-independante-mortgage/367017/ I'm not exactly sure how all this works to be honest. <br/><br/>My current home loan details are:<br/><div class="data">Contractual remaining term: 28 years, 5 months<br/><div class="data">Interest rate: 5.50%<br/><div class="data">Current principal balance: $103,408.77<br/><br/>Do I try to refinance my original loan and get enough money to purchase a second place I'm looking at or is that even possible? My home appraises for $125,000 and the second home I'm wanting to purchase is no more than $65,000.<br/><br/>Do I just get new mortgage on the $65,000 property and leave the current loan the way it is or is there something else that would make better financial sense?<br/><br/><br/>I have $30,000 in the bank set aside to go towards the new place as well.<br/><br/>The quotes I'm getting on financing the new place are all around:<br/>Money Due At Close: $16,500 ($13,000 is the down payment)<br/></div><br/>I'm asking because if there is a way to get a lower interest rate on the property I already have without having to pay the fees twice...this would be a nice opportunity to do that since I'll have to pay all the fees associated with getting the second house anyway.<br/><br/>Again, I don't know if it works like this or not. Any advice is appreciated.<br/><br/>*bleh can't edit misspelled words in the title.<br/></div><br/></div><br \><br \>4 replies Mon, 20 Sep 2010 16:01:00 GMT http://www.zillow.com/advice-thread/Refinance-to-purchase-second-home-or-get-an-independante-mortgage/367017/ 2010-09-20T16:01:00Z What can I do to get more (or better) quotes for my loan request ZR-YXRCMSW http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-YXRCMSW/363968/ I'm sure you have it all lately but I'm so frustrated. &nbsp;I'm interested in refinancing my home. &nbsp;I've been at the same address for over 30 years and don't intend to &nbsp;move... ever. &nbsp;If I take cash out, I run the risk of being upside down, and besides, no lenders will give me the time of day. &nbsp;I would love to lower my interest rate so I will really be sitting pretty when the market comes back. &nbsp; Should I not be thinking this way? &nbsp;Where should I go for advice?&nbsp;<br \><br \>3 replies Fri, 27 Aug 2010 04:30:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-YXRCMSW/363968/ 2010-08-27T04:30:00Z What can I do to get more (or better) quotes for my loan request ZR-BCNFVGL http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-BCNFVGL/337266/ I am in an interest only <a href="http://www.zillow.com/mortgage/">loan</a> because we did not know what we were doing. We can make our payments now but in a year our payment goes up. We have never been late in three years on a payment they automatically draft. We just want a 30 yr <a href="http://www.zillow.com/30_Year_Fixed_Mortgage_Rates/">fixed mortgage</a> so we can be certain about our payments.<br \><br \>7 replies Wed, 24 Mar 2010 21:47:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-BCNFVGL/337266/ 2010-03-24T21:47:00Z Making homes affordable for Who? http://www.zillow.com/advice-thread/Making-homes-affordable-for-Who/336979/ <p class="MsoNormal">My wife and I purchased our home in AZ in 2005 on an 5 year adjustable Freddie Mac mortgage. We do not pay a monthly <a href="http://www.zillow.com/mortgage/help/Private-Mortgage-Insurance.htm">mortgage insurance</a> payment. &nbsp;&nbsp;Now that we are $70k upside down in the home, &nbsp;I contacted our <a href="http://www.zillow.com/directory/lenders/">mortgage company</a> Aurora <a href="http://www.zillow.com/mortgage/">Loan</a> Services to participate in the Making Home Affordable program but they told us our Freddie Mac home will not qualify because the lender was required to pay mortgage insurance? They could not tell me the mortgage insurance company name and I do not have any records on the contract how is this possible and what are my options?&nbsp; I cannot believe I am the only person in this situation!</p><br \><br \>10 replies Wed, 24 Mar 2010 05:10:00 GMT http://www.zillow.com/advice-thread/Making-homes-affordable-for-Who/336979/ 2010-03-24T05:10:00Z what is the process of saxon mortgage doing a loan remod when DTI ratio is around 30% http://www.zillow.com/advice-thread/what-is-the-process-of-saxon-mortgage-doing-a-loan-remod-when-DTI-ratio-is-around-30/337273/ 1 reply Wed, 24 Mar 2010 21:54:00 GMT http://www.zillow.com/advice-thread/what-is-the-process-of-saxon-mortgage-doing-a-loan-remod-when-DTI-ratio-is-around-30/337273/ 2010-03-24T21:54:00Z how many pay stubs I have to have to apply for a loan ? http://www.zillow.com/advice-thread/how-many-pay-stubs-I-have-to-have-to-apply-for-a-loan/312438/ how many pay stubs I have to have to apply for a <a href="http://www.zillow.com/mortgage/">loan</a> ?<br \><br \>6 replies Thu, 07 Jan 2010 01:10:00 GMT http://www.zillow.com/advice-thread/how-many-pay-stubs-I-have-to-have-to-apply-for-a-loan/312438/ 2010-01-07T01:10:00Z