Zillow Advice RSS: Question-Discussion-Guide,Mortgage,CA http://www.zillow.com/advice/CA/mortgage/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Appraisal Discrepancy from 2 different companies http://www.zillow.com/advice-thread/Appraisal-Discrepancy-from-2-different-companies/595455/ I'm working with 2 different lenders to refinance my primary property residence. Both of them ordered the appraisal and i was done by 2 different companies and discrepancy was about 25K. I want to refinance with the lender but the appraisal done by the company they hired came lower than the one done by the other company. What can i do to let the lender know about this discrepancy and get the higher appraisal that the other company provided? Can i share with the lender the other high appraisal document and ask them to work with the appraiser to make adjustments?<br \><br \>20 replies Mon, 13 Jul 2015 20:40:00 GMT http://www.zillow.com/advice-thread/Appraisal-Discrepancy-from-2-different-companies/595455/ 2015-07-13T20:40:00Z Use classic broker or ZeneHome? http://www.zillow.com/advice-thread/Use-classic-broker-or-ZeneHome/601038/ Hi,<br/><br/>I recently bought a new home and am deciding between using&nbsp; [Promotion and website removed by Zillow moderator. Please see our Good Neighbor Policy.]<br \><br \>6 replies Wed, 19 Aug 2015 23:57:00 GMT http://www.zillow.com/advice-thread/Use-classic-broker-or-ZeneHome/601038/ 2015-08-19T23:57:00Z Self Employed-Partnership Mortgage http://www.zillow.com/advice-thread/Self-Employed-Partnership-Mortgage/602643/ Hi<br/>Before i begin the "home buying process" &nbsp;i want to know about mortgages for self employed (partnership)&nbsp;<br/>&nbsp;<br/>We have a 50/50&nbsp;partnership. My partner wants to buy a house now and I want to buy a house in 9-12 months.<br/><br/>If my partner buys a house now will it affect my ability to get a loan &nbsp;for my house?&nbsp;<br/>Since we have one account for both of us &nbsp;will it (or not) have anything to do with DTI ratio?<br/><br/>Any ideas will be helpful<br/>&nbsp;<br/>Thank you&nbsp;<br/>&nbsp;<br \><br \>8 replies Mon, 31 Aug 2015 03:50:00 GMT http://www.zillow.com/advice-thread/Self-Employed-Partnership-Mortgage/602643/ 2015-08-31T03:50:00Z 85/5/15 Jumbo loans in San Diego County? http://www.zillow.com/advice-thread/85-5-15-Jumbo-loans-in-San-Diego-County/602586/ We recently relocated to North County, San Diego and are looking at purchasing a 4 bedroom home in Carlsbad in about a year (July, 2016).&nbsp; We are surprised at the low conforming loan amounts in San Diego (with areas like Encinitas, Carlsbad, Del Mar, and La Jolla), especially since we were able to get a conforming FHA loan amount of $650K three years ago back east.&nbsp; As we try to prepare for our purchase in a year, we wanted to know if there were any 80/5/15 Jumbo loan programs for San Diego County?&nbsp; <br/><br/>Also, are there any other programs that could be beneficial to us?&nbsp; With the average listing price of homes in Carlsbad, CA being around $900K, is everyone putting the standard 20% down ($180K) and paying about $27k in closing cost; especially when the median household income in Carlsbad in $91K?<br \><br \>5 replies Sun, 30 Aug 2015 16:26:00 GMT http://www.zillow.com/advice-thread/85-5-15-Jumbo-loans-in-San-Diego-County/602586/ 2015-08-30T16:26:00Z 1031 Exchange and New Loan needed to purchase another property http://www.zillow.com/advice-thread/1031-Exchange-and-New-Loan-needed-to-purchase-another-property/601961/ 9 replies Wed, 26 Aug 2015 00:32:00 GMT http://www.zillow.com/advice-thread/1031-Exchange-and-New-Loan-needed-to-purchase-another-property/601961/ 2015-08-26T00:32:00Z can a person use your mortgage calculator without having to answer a bunch of stupid questions? http://www.zillow.com/advice-thread/can-a-person-use-your-mortgage-calculator-without-having-to-answer-a-bunch-of-stupid-questions/602486/ I simply wanted to calculate a mortgage from your site but you lead me through a myriad &nbsp;of questions....... I do not want to be contacted! &nbsp;I am looking into all of this for a friend. &nbsp;All I wanted was a simple mortgage calculator. &nbsp;<br/><br/> No........I did not authorize you to send my info. &nbsp;to Citibank... I did not click the tab! &nbsp; please rescind the lead that you (without my permission) sent to Citbank. &nbsp;You people are unethical, plain and simple.<br/><br/>&nbsp;&nbsp;Mike Morris<br/><br/>&nbsp;<br \><br \>3 replies Sat, 29 Aug 2015 15:57:00 GMT http://www.zillow.com/advice-thread/can-a-person-use-your-mortgage-calculator-without-having-to-answer-a-bunch-of-stupid-questions/602486/ 2015-08-29T15:57:00Z Is there a lender that will refinance me? http://www.zillow.com/advice-thread/Is-there-a-lender-that-will-refinance-me/593963/ I have a $700k first and a $145k HELOC. I am currently at 85% -90% CLTV. I really want to combine both into one loan. Credit 720. Documented income. Any thoughts?<br \><br \>11 replies Fri, 03 Jul 2015 04:23:00 GMT http://www.zillow.com/advice-thread/Is-there-a-lender-that-will-refinance-me/593963/ 2015-07-03T04:23:00Z Does refinancing an FHA purchase in Oct 2012 make sense today ? http://www.zillow.com/advice-thread/Does-refinancing-an-FHA-purchase-in-Oct-2012-make-sense-today/599640/ My current terms are 3.75% @ 30Years with a 1.35 Mortgage insurance rate. With the reduction in FHA mortgage Insurace to .85 % does is make sense to streamline refi ? My purchase amount was $490K and my current balance is $444k. My current value from appraisal is $665k.<br/><br/>I'm trying to get to : Does the streamline closing costs make the insurance rate reduction a moot point ?<br/><br/>side bar question : Does a conventional refi make sense at today's rates ?<br \><br \>20 replies Mon, 10 Aug 2015 21:56:00 GMT http://www.zillow.com/advice-thread/Does-refinancing-an-FHA-purchase-in-Oct-2012-make-sense-today/599640/ 2015-08-10T21:56:00Z Where can I find an estimate of the value of commercial property? http://www.zillow.com/advice-thread/Where-can-I-find-an-estimate-of-the-value-of-commercial-property/366488/ 9 replies Thu, 16 Sep 2010 01:23:00 GMT http://www.zillow.com/advice-thread/Where-can-I-find-an-estimate-of-the-value-of-commercial-property/366488/ 2010-09-16T01:23:00Z Do I have any recourse against mortgage broker? http://www.zillow.com/advice-thread/Do-I-have-any-recourse-against-mortgage-broker/602084/ <div class="lia-message-body-content"><p>I received GFE at 3.625%</p><p>I asked broker about rate lock and he said that rate can be locked as soon as I sign an application.</p><p>My property was appraised 12% higher than was estimated during initial calculations.</p><p>Initial calc was 70/30 LTV</p><p>Final calc was 63/37 LTV</p><br/><p>At the close rate changed to 4.125%</p><br/><p>I refused to close at 4.125% and asked for market rate (provided broker with two GFE at 3.75%) He refused to match. I refused to refi.</p><p>Went with another broker and refinanced at 3.75%</p><br/><p>I had to pay another appraisal fee and because I lost time with first lender I could no longer find any lender to give me 3.625%</p><br/><p>Appraisal fee is paid to 3rd party so they refused to refund.</p><br/><p>Do I have any recourse regarding rate difference since I lost an opportunity to refi at lower rate due to their business practice?</p><br/><p>Thank you for your replies.</p></div><br \><br \>8 replies Wed, 26 Aug 2015 20:20:00 GMT http://www.zillow.com/advice-thread/Do-I-have-any-recourse-against-mortgage-broker/602084/ 2015-08-26T20:20:00Z Have a VA Loan with Bad Credit http://www.zillow.com/advice-thread/Have-a-VA-Loan-with-Bad-Credit/530299/ Hello,<br/>I am a disabled Vietnam Navy veteran that has a VA loan but I have a bad credit (around 590). When I came back from my service, my family all gone and just didn't wanna deal with me because I am disabled. I was homeless a couple of times. I had lived in a camp yard in Idaho in several summers these past year. &nbsp;There have been a lot of people who took advantage of my kindness that caused my credit flunk!<br/>Now I have a wife of 2 years who had helped me a lot that I finally paid off my 2002 van and wiped off my student loans. I wonder whether I can buy a decent small house with my VA loan eventhough my credit is bad, rather than spending too much money on rent so that I can save money and pay back my lovely wife's kindness. Thanks in advanced for your kind reply.<br/><br \><br \>12 replies Fri, 28 Feb 2014 04:29:00 GMT http://www.zillow.com/advice-thread/Have-a-VA-Loan-with-Bad-Credit/530299/ 2014-02-28T04:29:00Z Can I have two VA loan at once? http://www.zillow.com/advice-thread/Can-I-have-two-VA-loan-at-once/491435/ I currently have a VA loan for $350k and want to purchase a new house for $760k. My wife and I want to keep our current home. The county VA loan limit is $987,500. Am I eligible to have a second tier VA loan? If so what is my entitlement and how much down payment would I need to get that entitlement?<br \><br \>36 replies Thu, 09 May 2013 03:10:00 GMT http://www.zillow.com/advice-thread/Can-I-have-two-VA-loan-at-once/491435/ 2013-05-09T03:10:00Z Are there any lenders out there who approve HELOC's with good credit but have a high DTI http://www.zillow.com/advice-thread/Are-there-any-lenders-out-there-who-approve-HELOC%27s-with-good-credit-but-have-a-high-DTI/598513/ 5 replies Mon, 03 Aug 2015 17:06:00 GMT http://www.zillow.com/advice-thread/Are-there-any-lenders-out-there-who-approve-HELOC%27s-with-good-credit-but-have-a-high-DTI/598513/ 2015-08-03T17:06:00Z What are the options for a construction loan in CA, and what type of down payment would be needed? http://www.zillow.com/advice-thread/What-are-the-options-for-a-construction-loan-in-CA-and-what-type-of-down-payment-would-be-needed/594522/ We are in the beginning stages of looking into buying land and building a home. We want to get an idea of how much of a down payment we would need and any other funds or preparation we would need to do before we start looking for land.&nbsp;<br/><br/>We are in Santa Clara county and we would like to finance the land as well as the build.<br \><br \>5 replies Tue, 07 Jul 2015 18:04:00 GMT http://www.zillow.com/advice-thread/What-are-the-options-for-a-construction-loan-in-CA-and-what-type-of-down-payment-would-be-needed/594522/ 2015-07-07T18:04:00Z I still owe my investment home300,000 with interest 6% . But my resident home is paid off already . http://www.zillow.com/advice-thread/I-still-owe-my-investment-home300-000-with-interest-6-But-my-resident-home-is-paid-off-already/601336/ Is it the good idea to borrow money ( with home equity or any offer) from my resident home (valued600,000) to pay off the rental property ?<br \><br \>10 replies Fri, 21 Aug 2015 18:06:00 GMT http://www.zillow.com/advice-thread/I-still-owe-my-investment-home300-000-with-interest-6-But-my-resident-home-is-paid-off-already/601336/ 2015-08-21T18:06:00Z Can I refinance into a conventional loan with no PMI if I have 85% LTV and excellent credit? http://www.zillow.com/advice-thread/Can-I-refinance-into-a-conventional-loan-with-no-PMI-if-I-have-85-LTV-and-excellent-credit/356306/ <p>My current loan is $252k. The house is worth $292k. I currently have an FHA loan at 5.375%. My credit score is 780. Is there a lender out there that will take on my mortgage with no PMI with only 85% LTV?</p><br \><br \>18 replies Sat, 03 Jul 2010 07:47:00 GMT http://www.zillow.com/advice-thread/Can-I-refinance-into-a-conventional-loan-with-no-PMI-if-I-have-85-LTV-and-excellent-credit/356306/ 2010-07-03T07:47:00Z How will late payments on foreign credit card affect mortgage? http://www.zillow.com/advice-thread/How-will-late-payments-on-foreign-credit-card-affect-mortgage/601198/ Hi,&nbsp;<br/><br/>I am applying for a mortgage in CA, I have lived here for 4 years, but lived in the UK before that. &nbsp;I have a credit card registered to an address in the UK - it doesn't appear on my US credit report. My US credit is good - I have no late payments or other negative indicators.<br/><br/>However, I have a couple of late payments on my UK credit card in the past year (only a week or so late). &nbsp;I barely use this card, only for small amounts when I am visiting UK, and I have no debt on it. &nbsp;I am less vigilant with payments because I know it does not appear on my US credit report.<br/><br/>If lenders pull a UK credit report and see the late payments, will this affect my chances of obtaining a mortgage? &nbsp;I have good US credit, reasonable income, and am putting down a very large (75%) down payment. The payments on the UK card are never very large or more than a couple weeks late.<br/><br/>Thanks.<br \><br \>3 replies Thu, 20 Aug 2015 20:00:00 GMT http://www.zillow.com/advice-thread/How-will-late-payments-on-foreign-credit-card-affect-mortgage/601198/ 2015-08-20T20:00:00Z House in escrow but lender needs an additional week for down payment. http://www.zillow.com/advice-thread/House-in-escrow-but-lender-needs-an-additional-week-for-down-payment/601354/ Seller will not agree to extend escrow<br \><br \>3 replies Fri, 21 Aug 2015 19:16:00 GMT http://www.zillow.com/advice-thread/House-in-escrow-but-lender-needs-an-additional-week-for-down-payment/601354/ 2015-08-21T19:16:00Z Will I get approved for a mortgage loan if my credit score is 627? http://www.zillow.com/advice-thread/Will-I-get-approved-for-a-mortgage-loan-if-my-credit-score-is-627/600516/ I recently got engaged and my fianc&eacute; and I want to apply for a mortgage loan of 850k in San Francisco. I recently checked my credit score and to my dismay, I found out it is 627. I thought it would be much higher as I have paid my bills on time since the first bill I've ever gotten and I don't have any negative comments(accounts in collections, delinquencies, etc) in my history. The only thing I saw on my credit report that is affecting me negatively is that my utilization ratio is over 90% "very poor." I am hoping this doesn't hurt our chances. I am more than capable of making payments. My fianc&eacute; and I make about 8.5-10k a month each on average. His credit score 720. Will we qualify for a mortgage loan? Another issue is that we don't have much to put as down payment. He has already purchased his first home and we are hoping, since it's my first home purchase, that we would qualify for first time buyer down payment. Any advice and information would be greatly appreciated. Thanks!<br \><br \>4 replies Mon, 17 Aug 2015 00:17:00 GMT http://www.zillow.com/advice-thread/Will-I-get-approved-for-a-mortgage-loan-if-my-credit-score-is-627/600516/ 2015-08-17T00:17:00Z Are my closing costs too high? I feel like there alot that shouldnt be there. ? http://www.zillow.com/advice-thread/Are-my-closing-costs-too-high-I-feel-like-there-alot-that-shouldnt-be-there/601229/ Original fee- 1419<br/>&nbsp;closing fee - 914<br/>lenders title insurance - 625<br/>messengers- 80<br/>siging fee/notary - 200<br/>sub escrow fee- 62.50<br/>wire fee - 15<br/>loan tie in fee- 250<br/>doc prep fee- 150<br/>recording fee - 163<br \><br \>8 replies Thu, 20 Aug 2015 23:46:00 GMT http://www.zillow.com/advice-thread/Are-my-closing-costs-too-high-I-feel-like-there-alot-that-shouldnt-be-there/601229/ 2015-08-20T23:46:00Z