Zillow Advice RSS: Question-Discussion-Guide,Approval Process,San Diego- CA http://www.zillow.com/advice/San-Diego-CA/mortgage-approval-process/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Lenders that will recognize RSU as income for Jumbo Loan http://www.zillow.com/advice-thread/Lenders-that-will-recognize-RSU-as-income-for-Jumbo-Loan/577985/ Are there any lenders that will recognize RSU income for loan qualification? I have multiple year history of RSU income on W2 and have consistently liquidated them in the year of vesting. This is for a Jumbo loan with &gt;20% downpayment.<br/><br/>Thanks<br \><br \>4 replies Fri, 06 Mar 2015 20:11:00 GMT http://www.zillow.com/advice-thread/Lenders-that-will-recognize-RSU-as-income-for-Jumbo-Loan/577985/ 2015-03-06T20:11:00Z I'm a 1st time buyer with a credit score of 584. Can I get an FHA loan with 3.5% down. http://www.zillow.com/advice-thread/I%27m-a-1st-time-buyer-with-a-credit-score-of-584-Can-I-get-an-FHA-loan-with-3-5-down/198414/ 8 replies Thu, 12 Feb 2009 00:15:00 GMT http://www.zillow.com/advice-thread/I%27m-a-1st-time-buyer-with-a-credit-score-of-584-Can-I-get-an-FHA-loan-with-3-5-down/198414/ 2009-02-12T00:15:00Z Rent out current place and buy new one - does my income have to support both mortgages? http://www.zillow.com/advice-thread/Rent-out-current-place-and-buy-new-one-does-my-income-have-to-support-both-mortgages/566303/ <p class="MsoNormal">I would like to refi my current place, buy a new one to live in right after, and then rent this place out. <strong>&nbsp;Does my income have to be able to support both mortgages?&nbsp;</strong> I know it sounds like a silly question but I can rent my current place out for more than my mortgage payment.&nbsp; I know, I know &ndash;I need to get qualified with a lender to find out for sure but right now I am just looking for some general info.</p><p class="MsoNormal">I plan to refi and take some cash out for a new place. By the time that is done, mortgage should be around $150.&nbsp; I would like to buy a new place for $300-350 if I can.&nbsp; So it would be a total of about $450-$500 of mortgage. My income is about $105 a year and my FICO was 756 when I checked a few days ago.&nbsp; &nbsp;I have student loans that are years away from repayment (in a phd program) and the only other debt I have is a car lease.</p><p class="MsoNormal">Is that a realistic plan or am I way off?&nbsp; &nbsp;Do I have to have the place rented out before I would qualify for a mortgage that high or can I buy the new place and then rent this place out?</p><br \><br \>19 replies Wed, 12 Nov 2014 03:31:00 GMT http://www.zillow.com/advice-thread/Rent-out-current-place-and-buy-new-one-does-my-income-have-to-support-both-mortgages/566303/ 2014-11-12T03:31:00Z Applying for loan for home? do we need submit all the bank statements? http://www.zillow.com/advice-thread/Applying-for-loan-for-home-do-we-need-submit-all-the-bank-statements/570259/ I have several bank accounts and majority funding is with one big bank with checking, saving , cd and IRA accounts.<br/>I also have another bank account (different bank) with about $10k. This account has no movement (no in and out transaction).<br/>When apply a loan, can I not to disclose this bank account? As we are not going to use the fund from this account for mortgage down payment anyway.<br/><br/>&nbsp;My big bank account should have enough to cover all the downpayment, closing cost and such.&nbsp;<br/>&nbsp;<br/>&nbsp;Can I not to submit the bank account that I mentioned above?&nbsp;<br/>Thanks<br/>&nbsp;<br \><br \>14 replies Tue, 23 Dec 2014 18:45:00 GMT http://www.zillow.com/advice-thread/Applying-for-loan-for-home-do-we-need-submit-all-the-bank-statements/570259/ 2014-12-23T18:45:00Z What does an underwriter want to see for a smooth 1031 Exchange with an investment property? http://www.zillow.com/advice-thread/What-does-an-underwriter-want-to-see-for-a-smooth-1031-Exchange-with-an-investment-property/546948/ I own a rental property in San Diego and would like to sell it and, afterward, purchase a replacement in Palm Springs. I'd like to know what I might need to do to make this transaction go as smoothly as possible. I.e. should I have cash reserves and so forth<br \><br \>4 replies Tue, 24 Jun 2014 17:03:00 GMT http://www.zillow.com/advice-thread/What-does-an-underwriter-want-to-see-for-a-smooth-1031-Exchange-with-an-investment-property/546948/ 2014-06-24T17:03:00Z Is a Mortgage w/o 4506-T available in this scenario? http://www.zillow.com/advice-thread/Is-a-Mortgage-w-o-4506-T-available-in-this-scenario/534624/ Purchase price:&nbsp; 745k<br/>Down payment: 328K<br/>FICO:&nbsp; 760+<br/>Income: 400k/yr<br/>DTI Ratio:&nbsp; sub 10%<br/><br/>My issue is that I got divorced last year and each of my ex and I thought the other had filed our 2012 return.&nbsp; We recently realized that neither of us had and we filed last week.&nbsp; The lender I'm working with says they simply cannot fund without a 4506T coming back which won't happen for 6-8 weeks, and he can't switch me to any program that does not require a 4506-T.&nbsp; Everything else about my app is impeccable, and I'm on a W2 and not self employed.&nbsp; I'm hoping someone in the industry sees this and has alternatives.<br/><br \><br \>11 replies Tue, 01 Apr 2014 01:28:00 GMT http://www.zillow.com/advice-thread/Is-a-Mortgage-w-o-4506-T-available-in-this-scenario/534624/ 2014-04-01T01:28:00Z Credit card purchases for points (paid in full monthly) vs debit account when qualifying http://www.zillow.com/advice-thread/Credit-card-purchases-for-points-paid-in-full-monthly-vs-debit-account-when-qualifying/562999/ Hi<br/>Was hoping to get some clarification on what we should do. Currently we put all our purchases on a rewards card which we pay off in full each month. Since we would like to qualify, we want to make sure we are doing everything correct and I wasn't sure how this would affect our debt to income ratios. Should I keep putting all of our purchases on our credit card or would it be beneficial to start using the debit card for these same purchases?<br/>Thanks,<br/>Rob<br \><br \>9 replies Wed, 15 Oct 2014 19:16:00 GMT http://www.zillow.com/advice-thread/Credit-card-purchases-for-points-paid-in-full-monthly-vs-debit-account-when-qualifying/562999/ 2014-10-15T19:16:00Z Can a recent college-grad with only 1 year of work history give his new family a home? http://www.zillow.com/advice-thread/Can-a-recent-college-grad-with-only-1-year-of-work-history-give-his-new-family-a-home/531476/ I graduated at almost 30 with an engineering degree (March '13) and have been working full-time in my field immediately after graduation for an entire without any gaps. Although I have been working with the same company for an entire year, I've had 3 different positions of increasing salary first through Temp Agencies, and then finally as a direct-hire W2 company employee at a different location the next county over.<br/><br/>First 2 months: 30K/yr (3rd-Party Contractor - W2) Engineering Technician (Shop Work)<br/>Next 4 Months: 45K/yr (3rd Party Contractor - 1099) Quality Tech<br/>Last 6 Months: 61K/yr (Direct-Hire Employee W2) Junior Engineer<br/><br/>Since I only started making real money during the last months of 2013, my tax return shows ~$36,000 for 2013 (I filed a joint return although I am the ONLY source of income - married with two kids). However, my last half-year of pay-stubs will show my current salary.<br/><br/>My Credit Situation: Salary: 61K paid bi-weekly<br/>-Scores: 650-680 range<br/>-Credit Cards: 3 (oldest 4.5 years, newest 2 years) 18% Util (Credit Limits sum to $4K)<br/>-Retail Card: 1 (zero balance)<br/>-Student Loan: 40K, $200 Monthly (almost a year in repayment)<br/>-Car: $30K, $500 Monthly (almost a year in repayment)<br/>-Late Payments: NEVER<br/>-Collections: 1 Medical Collections 6 years old ($4K)<br/><br/>-Downpayment through Downpayment Assistance Plan (Up to 30%)<br/>-Cash on-hand: $2K (mainly from paying down maxed credit cards in a matter of 6 months)<br/><br/>Looking to buy in a rural mountain area $200-250K range (USDA eligible area). Since I'm married, 30, with kids that area getting old enough to talk and remember things, I don't want to wait any longer in buying my first home since I will have to wait an entire year just to get my next (AND 2ND) W2 statement.<br/><br/>**What are my chances of being able to give my family a home now? **<br/>If it helps, I work for a large, international, multi-billion dollar company with good prospects.<br \><br \>14 replies Sat, 08 Mar 2014 17:15:00 GMT http://www.zillow.com/advice-thread/Can-a-recent-college-grad-with-only-1-year-of-work-history-give-his-new-family-a-home/531476/ 2014-03-08T17:15:00Z I need Manual Under writing...lack of credit history.....????? http://www.zillow.com/advice-thread/I-need-Manual-Under-writing-lack-of-credit-history/524012/ <br/>1. Capital One Mortgage&nbsp; stated I need Manual Under writing due to lack of credit history<br/>2. Credit Score Avg is 700<br/>3. CC - oldest is 1.5yrs<br/>4. I have 20% to 30% a down payment on $100,000 purchase with $40K in reserve<br/>5. First time buyer<br/><br/>any advice?????<br/><br/><br \><br \>6 replies Fri, 10 Jan 2014 19:37:00 GMT http://www.zillow.com/advice-thread/I-need-Manual-Under-writing-lack-of-credit-history/524012/ 2014-01-10T19:37:00Z Affordability and Mortgage rate http://www.zillow.com/advice-thread/Affordability-and-Mortgage-rate/528037/ Me and my family are looking to buy a house around $300K- $350K. My mom is making around 30K a year and I'm making around 30K a year( working part-time). I'm currently a student and will be graduating in June. But when I graduate, I can make around 65K - 70K working full-time at the same company. We are looking for a house to buy in August or September. We have around $70k down payment. Is it possible for us to get a mortgage loan ?&nbsp;<br/><br/><br/>Thank you<br/><br/><br/><br \><br \>6 replies Tue, 11 Feb 2014 09:25:00 GMT http://www.zillow.com/advice-thread/Affordability-and-Mortgage-rate/528037/ 2014-02-11T09:25:00Z Can I get a mortgage? http://www.zillow.com/advice-thread/Can-I-get-a-mortgage/505128/ I want to buy a condo that would not go over $150K, and hopefully much less. I have been saving and was hoping to be able to buy outright, but got laid off before I could save enough. So, I have about $60K I can use for a down payment. I would have a small cushion left over.<br/><br/>As I mentioned, I got laid off, and I've been on unemployment and collecting a small pension of $260 per month. My unemployment is about to end and my rent is going up, so I'd really like to buy. I figure my monthly nut would go down as long as I buy something affordable.<br/><br/>Obviously, the problem is I'm unemployed. I've been taking graduate classes and should get my master's next year in a relatively high-paying field, from a good school. CreditKarma gives my score as 747, and it might be able to improve if I pay down an $800 balance but my student loans would prevent my score from getting much higher than that.<br/><br/>If this happened 10 years ago I'd have no problem getting a no-doc loan. I hear those are largely impossible these days, but limited doc might be a possibility. I'd appreciate any specific advice that I can use asap. Thanks.<br \><br \>7 replies Sun, 04 Aug 2013 01:44:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-mortgage/505128/ 2013-08-04T01:44:00Z Changing loan terms while waiting for loan approval? http://www.zillow.com/advice-thread/Changing-loan-terms-while-waiting-for-loan-approval/516824/ First time home buyer here -&nbsp;<br/>If I'm in the process of getting a 30 yr loan approved, can I still &nbsp;have my lender run numbers for a 15 yr and change to a 15 yr if I decide it's a better fit? <br/><br/>Also, do most lenders wait for appraisal before approving the loan? &nbsp;<br \><br \>4 replies Sun, 27 Oct 2013 00:31:00 GMT http://www.zillow.com/advice-thread/Changing-loan-terms-while-waiting-for-loan-approval/516824/ 2013-10-27T00:31:00Z Morgage without the Green Card http://www.zillow.com/advice-thread/Morgage-without-the-Green-Card/511905/ <p class="MsoNormal">Hi! I live in the US for over 15 years and have a SSN. I have a good credit, over 750, but I still don't have a Green Card. I had Work Authorizations in the past, but not any longer, since I'm self employed and own a company for the last 7 years. I'm waiting for a Green Card through a family application.</p><p class="MsoNormal">Can I get a mortgage if I can put down 30-35%?</p><p class="MsoNormal">Thank you. Brian</p><br \><br \>3 replies Wed, 18 Sep 2013 22:06:00 GMT http://www.zillow.com/advice-thread/Morgage-without-the-Green-Card/511905/ 2013-09-18T22:06:00Z Zillow Lender Cancels loan after Condo HOA Questionaire shows property doesn't meet Fannie Mae http://www.zillow.com/advice-thread/Zillow-Lender-Cancels-loan-after-Condo-HOA-Questionaire-shows-property-doesn%27t-meet-Fannie-Mae/490289/ <div>In March 2013, I decided to refinance my Rental/Investment Condo and used Zillow to find a lender with a good rate.<div>My current loan is a 5.25% with 50% LTV, FYI.<br/><div>So the lender and I engage in talks and we agree on a rate with no fees except for the appraisal. We agreed upon the price for the appraisal and proceeded forward with the refinance.<br/><div>A few weeks go by, the appraisal was done and I was over charged by $300 for the appraisal. Turns out the lender was "mis-informed" and that condos were more expensive than his original appraisal quote.<br/><div>The lender promised to issue me a check for the difference after the loan closes.&nbsp;<br/><div>Last week the lender finds out that we cannot obtain approval because the condo does not meet Fannie Mae guidelines.&nbsp;<br/><div>Today, the lender sends me a cancellation of my loan in form of a letter with any explanation about the appraisal overcharge.<br/><div>Shouldn't lenders send out the questionaire form out first prior to appraisals?&nbsp;<br/><div>What are my options? Thoughts? Ideas?<br/><div>I just want to refinance and bring down my rate/monthly payment.<br/><br/><div>Thank you</div></div></div></div></div></div></div></div></div></div></div><br \><br \>10 replies Tue, 30 Apr 2013 21:58:00 GMT http://www.zillow.com/advice-thread/Zillow-Lender-Cancels-loan-after-Condo-HOA-Questionaire-shows-property-doesn%27t-meet-Fannie-Mae/490289/ 2013-04-30T21:58:00Z Are there lenders out there who will calculate DTI based on remaining income after alimony. I have a http://www.zillow.com/advice-thread/Are-there-lenders-out-there-who-will-calculate-DTI-based-on-remaining-income-after-alimony-I-have-a/491766/ 1 reply Sat, 11 May 2013 02:29:00 GMT http://www.zillow.com/advice-thread/Are-there-lenders-out-there-who-will-calculate-DTI-based-on-remaining-income-after-alimony-I-have-a/491766/ 2013-05-11T02:29:00Z Who can do my loan that is local in San Diego http://www.zillow.com/advice-thread/Who-can-do-my-loan-that-is-local-in-San-Diego/455979/ Please text me so I can call you. My name is Roman and I&nbsp;want to buy soon in San Diego.[phone number removed by Zillow moderator]<br \><br \>15 replies Thu, 16 Aug 2012 22:35:00 GMT http://www.zillow.com/advice-thread/Who-can-do-my-loan-that-is-local-in-San-Diego/455979/ 2012-08-16T22:35:00Z Cant get a Loan in CA but isit possible to get one in FL? http://www.zillow.com/advice-thread/Cant-get-a-Loan-in-CA-but-isit-possible-to-get-one-in-FL/452532/ My husband and I tried to be qualified for a home loan... But the lender said that they couldnt give us a loan yet since hubbys credit shows he still owes money from the RV he got before which he has been returned already. I asked my hubby about it since it was fr his previous marriage and he said its supposed to be closed already. Also one thing another debt shows up on his credit just this year which is 9k so the lender sent me an email that if they see a 3 month payment arrangement on those things on my hubbys credit then they could give us a loan. I had this situation here in CA but hubbys co is relocating us in FL and as Ive checked the area there are reakly a lot of cheap houses for us to afford so is it possible that we could prolly get a loan there??? Does lender fr diff state varies??? Or everything just really based on your credit???:(<br \><br \>5 replies Wed, 25 Jul 2012 09:42:00 GMT http://www.zillow.com/advice-thread/Cant-get-a-Loan-in-CA-but-isit-possible-to-get-one-in-FL/452532/ 2012-07-25T09:42:00Z Could spousal support qualify as income for a refinance? http://www.zillow.com/advice-thread/Could-spousal-support-qualify-as-income-for-a-refinance/447731/ Still researching refi options. Just filed for Legal Separation.&nbsp; Will spousal support qualify as income? If so how much is necessary? <br/>Someone suggested that a 45% debt to income ratio is needed.&nbsp; What does that mean exactly?&nbsp; You must have 5% more income than monthly debt?&nbsp; The only debt I have is this mortgage. I guess there must also be an ideal or good income to expense ratio needed to qualify. Sorry if these are too basic questions. Appreciate the feedback.<br \><br \>2 replies Thu, 21 Jun 2012 17:03:00 GMT http://www.zillow.com/advice-thread/Could-spousal-support-qualify-as-income-for-a-refinance/447731/ 2012-06-21T17:03:00Z GI Bill Housing Allowance http://www.zillow.com/advice-thread/GI-Bill-Housing-Allowance/419186/ My husband works full time, but is also going to school full time using his GI Bill. We recieve a monthly housing allowance (BAH)&nbsp;for 36 months as long as he is enrolled full time. Can we count this money towards our income when applying for a home loan? <br/><br/>Thanks!<br \><br \>3 replies Thu, 13 Oct 2011 21:22:00 GMT http://www.zillow.com/advice-thread/GI-Bill-Housing-Allowance/419186/ 2011-10-13T21:22:00Z GIFT OF MONEY http://www.zillow.com/advice-thread/GIFT-OF-MONEY/428913/ SPOKE TO A <a href="http://www.zillow.com/directory/lenders/">MORTGAGE BROKER</a> , TOLD HIM I RECEIVED A GIFT OF MONEY, TO HELP WITH PURCHASE OF HOME. I TOLD HIM I DIDNT WANT TO BUY FOR ANOTHER 4 MONTHS, HE SAID I DO NOT NEED A LETTER FROM THE DONOR .&nbsp;<br/>IS THIS TRUE, ? OR WILL I NEED A LETTER FROM THE DONOR EVEN THOUGH THE MONEY HAS BEEN IN MY SAVINGS &nbsp;ACCOUNT &nbsp;FOR 4 OR 6 MONTHS BEFORE I BUY?<br \><br \>6 replies Mon, 16 Jan 2012 06:04:00 GMT http://www.zillow.com/advice-thread/GIFT-OF-MONEY/428913/ 2012-01-16T06:04:00Z