Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,KY http://www.zillow.com/advice/KY/mortgage-mortgage-types/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate Can someone explain an offer letter mortgage? http://www.zillow.com/advice-thread/Can-someone-explain-an-offer-letter-mortgage/555406/ My family is looking to move back to the US and buy a home. Most of the mortgages I have found say they need at least one month of paystubs but I did find mention of something called an offer letter mortgage. Are there any restrictions to whom these are given? Is there anyone in the Louisville area that knows more about them?<br/><br/>We have a few reason why we looking for an immediate home purchase. We will be moving from Germany so if we wait for a month or two we have to pay for movers and other costs twice within a year. We have three pets that will be coming with us and most apartments only accept two. And we also have a daughter that will need to start school and we would rather not have her start one school and then move to another one after a few months. &nbsp;One of us starting early while the rest of our family remains in Germany will not be possible.<br/><br/>So would this option be available to us?<br \><br \>7 replies Tue, 19 Aug 2014 07:04:00 GMT http://www.zillow.com/advice-thread/Can-someone-explain-an-offer-letter-mortgage/555406/ 2014-08-19T07:04:00Z Construction loan Burlington, KY http://www.zillow.com/advice-thread/Construction-loan-Burlington-KY/469762/ My wife and I are looking to build I house in Burlington, KY. We have a lot on hold and are building with a local custom builder. We are trying to figure out the financing. The two options are us taking out a construction loan or our builder financing it and we buy it from him at the end. Obviously, the builder prefers for us to take out the construction loan because it's less risk to him. Him and our realtor also say that I will save money in closing costs if I do this. Here is the problem; the builder, myself, and our realtor have talked to several banks and mortgage companies in the Northern Kentucky area and are about out of resources. Very few offer construction loans to start with and the few that do require 20% down. I do not and will not have 20% to put down. Including house and lot, our goal is for a total cost of $200,000. I will have $20,000 to put down which is 10%. Does anyone know of a solution to this situation as the banks we have talked to cannot come down below 20%?<br \><br \>0 replies Wed, 28 Nov 2012 19:06:00 GMT http://www.zillow.com/advice-thread/Construction-loan-Burlington-KY/469762/ 2012-11-28T19:06:00Z Do I get a new mortgage or refinance on a house I own with my ex-husband to become sole owner? http://www.zillow.com/advice-thread/Do-I-get-a-new-mortgage-or-refinance-on-a-house-I-own-with-my-ex-husband-to-become-sole-owner/255137/ My ex-husband and I own a house together we bought when we were married.&nbsp; I want to keep the house (my ex is fine with that).&nbsp; Do I apply for a new <a href="http://www.zillow.com/mortgage/">mortgage</a> or do I just need to <a href="http://www.zillow.com/refinance/">refinance</a> the current mortgage both of our names are on?&nbsp;<br \><br \>3 replies Sat, 11 Jul 2009 18:21:00 GMT http://www.zillow.com/advice-thread/Do-I-get-a-new-mortgage-or-refinance-on-a-house-I-own-with-my-ex-husband-to-become-sole-owner/255137/ 2009-07-11T18:21:00Z