Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,PA http://www.zillow.com/advice/PA/mortgage-mortgage-types/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate What type of mortgage is available with little or no money down currently? http://www.zillow.com/advice-thread/What-type-of-mortgage-is-available-with-little-or-no-money-down-currently/404980/ With current real estate market, not sure I will have any funds to put down as down payment if I sell my home.<br \><br \>5 replies Sat, 25 Jun 2011 13:45:00 GMT http://www.zillow.com/advice-thread/What-type-of-mortgage-is-available-with-little-or-no-money-down-currently/404980/ 2011-06-25T13:45:00Z Are there any banks that still offer piggyback or 100% mortgage? http://www.zillow.com/advice-thread/Are-there-any-banks-that-still-offer-piggyback-or-100-mortgage/511584/ Some states and municipalities offer down payment assistance, but you would still need to have some of your own assets. As wetdawgs mentioned, you need an emergency fund as well to be certain that you have $'s to fall back on. Since you mentioned that you don't have cash reserves, maybe because of some event? This would be a good time to pause and think about what could happen if you didn't have funds to make your mortgage payment or some other emergency.<br \><br \>0 replies Mon, 16 Sep 2013 22:36:00 GMT http://www.zillow.com/advice-thread/Are-there-any-banks-that-still-offer-piggyback-or-100-mortgage/511584/ 2013-09-16T22:36:00Z Physician Loans? Pros and Cons please... http://www.zillow.com/advice-thread/Physician-Loans-Pros-and-Cons-please/399164/ My husband's a physician and we've just heard about this type of mortgage/loan and we're looking to get educated. &nbsp; I'm wondering if there's a catch. &nbsp;I've read that some won't allow for refinancing (in this market should that bother me?? Rates are SOOO low!). &nbsp;I'm also wondering if the rates are competitive and what would can find in a more traditional mortgage. &nbsp; &nbsp;We'll be looking for probably a 450K loan and are in Pennsylvania (Philadelphia). &nbsp;Thanks for any help!<br \><br \>8 replies Mon, 16 May 2011 16:18:00 GMT http://www.zillow.com/advice-thread/Physician-Loans-Pros-and-Cons-please/399164/ 2011-05-16T16:18:00Z What is the availability of a mortgage when you buy a home at auction? http://www.zillow.com/advice-thread/What-is-the-availability-of-a-mortgage-when-you-buy-a-home-at-auction/391405/ 4 replies Sat, 19 Mar 2011 02:58:00 GMT http://www.zillow.com/advice-thread/What-is-the-availability-of-a-mortgage-when-you-buy-a-home-at-auction/391405/ 2011-03-19T02:58:00Z Susquehanna Bank Homestart Loan: Too good to be true? http://www.zillow.com/advice-thread/Susquehanna-Bank-Homestart-Loan-Too-good-to-be-true/432728/ I'd suggest talking about this program with another lender in PA, here's our directory of lenders that lender in your area: <a href="http://www.zillow.com/directory/PA/mortgage-lenders/">http://www.zillow.com/directory/PA/mortgage-lenders/</a><br \><br \>0 replies Mon, 27 Feb 2012 20:41:00 GMT http://www.zillow.com/advice-thread/Susquehanna-Bank-Homestart-Loan-Too-good-to-be-true/432728/ 2012-02-27T20:41:00Z Would it benefit me to refinance if my objective is to pay off my mortgage earlier? http://www.zillow.com/advice-thread/Would-it-benefit-me-to-refinance-if-my-objective-is-to-pay-off-my-mortgage-earlier/487050/ current 15 yr mortgage 5.375%, payoff date is 10/2018, original balance of $116K current balance $48K. Would it benefit me to refinance if my objective is to pay off my mortgage earlier?<br \><br \>2 replies Tue, 09 Apr 2013 14:27:00 GMT http://www.zillow.com/advice-thread/Would-it-benefit-me-to-refinance-if-my-objective-is-to-pay-off-my-mortgage-earlier/487050/ 2013-04-09T14:27:00Z mortgage insurance http://www.zillow.com/advice-thread/mortgage-insurance/455234/ <em>i am buying a town home for 195155 and putting down 15% and my credit is excllent<br/>.do i need mortgage insurance if yes how much it&nbsp; gonna be.</em><br \><br \>3 replies Sun, 12 Aug 2012 23:36:00 GMT http://www.zillow.com/advice-thread/mortgage-insurance/455234/ 2012-08-12T23:36:00Z Any idea where I can get a mortgage and just had bankruptcy charged off in March. http://www.zillow.com/advice-thread/Any-idea-where-I-can-get-a-mortgage-and-just-had-bankruptcy-charged-off-in-March/445534/ 1 reply Mon, 04 Jun 2012 23:48:00 GMT http://www.zillow.com/advice-thread/Any-idea-where-I-can-get-a-mortgage-and-just-had-bankruptcy-charged-off-in-March/445534/ 2012-06-04T23:48:00Z In PA - down payment and best loan options? http://www.zillow.com/advice-thread/In-PA-down-payment-and-best-loan-options/502669/ I live in West Chester, PA.&nbsp; <br/>*&nbsp; What is the minimum down payment needed for a conventional loan?<br/>*&nbsp; Does your down payment amount affect how much you pay in mortgage insurance?<br/><br/>Thanks for your advice.<br \><br \>6 replies Fri, 19 Jul 2013 18:42:00 GMT http://www.zillow.com/advice-thread/In-PA-down-payment-and-best-loan-options/502669/ 2013-07-19T18:42:00Z I just finished paying all my debts on my credit report that were from 2006 when I was having proble http://www.zillow.com/advice-thread/I-just-finished-paying-all-my-debts-on-my-credit-report-that-were-from-2006-when-I-was-having-proble/380937/ A mortgage rep recently told me of programs that may be available for people with scores in the 500 - 579 range.&nbsp; However, you need a higher down payment.&nbsp; 10%&nbsp; Once the score is 580-599, the down payment is 5%.&nbsp; The brochure was handed out at my NJ office.&nbsp;&nbsp;I am going to see if program&nbsp;is available in PA.&nbsp; Good luck!<br/><br/>Just saw Gene Fish's posting.&nbsp; There's your answer.&nbsp;<br \><br \>0 replies Tue, 25 Jan 2011 05:08:00 GMT http://www.zillow.com/advice-thread/I-just-finished-paying-all-my-debts-on-my-credit-report-that-were-from-2006-when-I-was-having-proble/380937/ 2011-01-25T05:08:00Z Buying a Condo for my Mom http://www.zillow.com/advice-thread/Buying-a-Condo-for-my-Mom/523533/ Having no idea of your income, the concern I'd have about your plan is that you would have to qualify for two mortgages when you buy a house rather than just one.&nbsp;&nbsp;&nbsp;&nbsp; In addition, many condos have very strict rules about the percentage of rentals allowed in the complex so you won't necessarily be able to rent. <br/><br/>Why not go about this a different direction - rent where it is less expensive while you save your down payment, buy a home and then (and only then) evaluate your finances (with a lender's help) to see if you can afford the down payment for your mother's place.<br/><br/>Is&nbsp; your mother having problems being in a rental?<br/><br/><br/><br \><br \>0 replies Mon, 06 Jan 2014 22:01:00 GMT http://www.zillow.com/advice-thread/Buying-a-Condo-for-my-Mom/523533/ 2014-01-06T22:01:00Z are mortgages still being approved for investment homes http://www.zillow.com/advice-thread/are-mortgages-still-being-approved-for-investment-homes/250575/ 4 replies Sat, 27 Jun 2009 22:33:00 GMT http://www.zillow.com/advice-thread/are-mortgages-still-being-approved-for-investment-homes/250575/ 2009-06-27T22:33:00Z Can a Arizona Card's fan get a stated income mortgage? http://www.zillow.com/advice-thread/Can-a-Arizona-Card%27s-fan-get-a-stated-income-mortgage/194897/ They got&nbsp;cheated by a twinkle toes!<br \><br \>1 reply Mon, 02 Feb 2009 19:04:00 GMT http://www.zillow.com/advice-thread/Can-a-Arizona-Card%27s-fan-get-a-stated-income-mortgage/194897/ 2009-02-02T19:04:00Z does anyone have information on acquiring a reverse mortgage for co-op unit owners in southwest dc? http://www.zillow.com/advice-thread/does-anyone-have-information-on-acquiring-a-reverse-mortgage-for-co-op-unit-owners-in-southwest-dc/181223/ 2 co-op properties in southwest are Tiber Island and River Park...has anyone ever acquired a <a href="http://www.zillow.com/mortgage-glossary/Reverse-Mortgage/">reverse mortgage</a> on units in these properties, if so, who were the lending institutions?<br \><br \>0 replies Thu, 25 Dec 2008 22:52:00 GMT http://www.zillow.com/advice-thread/does-anyone-have-information-on-acquiring-a-reverse-mortgage-for-co-op-unit-owners-in-southwest-dc/181223/ 2008-12-25T22:52:00Z What is the best way to incorporate rehab costs into a mortgage for an investment property? http://www.zillow.com/advice-thread/What-is-the-best-way-to-incorporate-rehab-costs-into-a-mortgage-for-an-investment-property/536438/ Hello,&nbsp;<br/><br/>I am planning on purchasing an investment property for $115,000, putting $35k into it for repairs and either flipping it or renting out. I would be all in at $150k and could have a positive cash flow if rented out. Is there a way I could incorporate the $35k repair costs into the mortgage rather than using my own cash. If I was able to do so, I could use my cash for another investment property.&nbsp;<br/><br/>I thought about fronting the repair costs then refinancing for the total amount spent to get my money back, then rent out. I was told you can only refinance after 1 year&nbsp;which I didn't want to wait that long. I've also heard about 203K loans, but it seems like a lot of work getting contractors approved, estimates, etc...&nbsp;<br/><br/>Anyone have any advice on what to do?<br/><br/>Thanks!<br \><br \>9 replies Mon, 14 Apr 2014 22:41:00 GMT http://www.zillow.com/advice-thread/What-is-the-best-way-to-incorporate-rehab-costs-into-a-mortgage-for-an-investment-property/536438/ 2014-04-14T22:41:00Z ANY MORTGAGE LENDERS THAT LEND LESS THAN $50,000 http://www.zillow.com/advice-thread/ANY-MORTGAGE-LENDERS-THAT-LEND-LESS-THAN-50-000/516361/ <p>I AM AN INVESTOR, AND I NEED TO BORROW MONEY..$35000/$40,000 TO PURCHASE AND $25/30,000 TO FIX UP AND SELL OR RENT...THERE IS NO LENDER THAT DOES THAT... IF THEY DO LEND LESS THAN $50000, THEY WANT YOU TO GO LIVE ON IT....... THE LAST 2 YEARS I BUILT AND SOLD MY HOUSES BUT I USED ALL MY CASH AND CREDIT CARDS... I DONT WANT TO DO IT THAT WAY ANYMORE.... CAN YOU HELP... THANKS MIKE&nbsp;&nbsp; <a href="mailto:DEDIP7@HOTMAIL.COM" rel="nofollow">DEDIP7@HOTMAIL.COM</a></p><br \><br \>6 replies Wed, 23 Oct 2013 11:54:00 GMT http://www.zillow.com/advice-thread/ANY-MORTGAGE-LENDERS-THAT-LEND-LESS-THAN-50-000/516361/ 2013-10-23T11:54:00Z Is there any truth to being able to get a FHA mortgage for 40 yrs? http://www.zillow.com/advice-thread/Is-there-any-truth-to-being-able-to-get-a-FHA-mortgage-for-40-yrs/222939/ 3 replies Mon, 13 Apr 2009 13:22:00 GMT http://www.zillow.com/advice-thread/Is-there-any-truth-to-being-able-to-get-a-FHA-mortgage-for-40-yrs/222939/ 2009-04-13T13:22:00Z FHA or Conventional? What is our better option? http://www.zillow.com/advice-thread/FHA-or-Conventional-What-is-our-better-option/523643/ My wife and I are looking to buy in the Pittsburgh and surrounding area.&nbsp; <br/>We've been looking at properties since this past summer and have even put in a couple of offers.&nbsp; When we're browsing online we pay careful attention to the numbers that the various site apporximate as our potential mortgage payment.&nbsp; However, for the couple of times that we've placed an offer the projected payments end up being almost $150 - $200 higher due to the MIP.<br/><br/>We're trying to keep our mortgage payments as close to what we're used to paying in rent but because of the PMI are finding it near impossible w/o having to compromise the area that we would like to live.<br/><br/>We've been strongly considering an FHA loan due to the lower down payment, however the 1.75%&nbsp;MIP is making it ever so difficult.&nbsp; So, my question is: which would be a better fit for us, and are there any other optionns within FHA loans that can lower the MIP?&nbsp; My credit is mid 600's and my wife is mid to high 700's<br \><br \>7 replies Tue, 07 Jan 2014 18:35:00 GMT http://www.zillow.com/advice-thread/FHA-or-Conventional-What-is-our-better-option/523643/ 2014-01-07T18:35:00Z he loan vs mortgage http://www.zillow.com/advice-thread/he-loan-vs-mortgage/180071/ <p>$368K interest only 5yr arm 6.25% that resets in 3/2012<br/>$60k he <a href="http://www.zillow.com/mortgage/">loan</a> @ 10%, if paid off before 5/2010 there is a penalty.<br/><br/>what should i be paying additional principle into the he loan or mortagage? value of house is $380k do they take into consideration the <a href="http://www.zillow.com/mortgage-glossary/Loan-To-Value-Ratio-%28LTV%29/">loan to value</a> ratio if <a href="http://www.zillow.com/refinance/">refinancing</a> the he loan?</p><br \><br \>3 replies Sun, 21 Dec 2008 17:46:00 GMT http://www.zillow.com/advice-thread/he-loan-vs-mortgage/180071/ 2008-12-21T17:46:00Z he loan vs mortgage http://www.zillow.com/advice-thread/he-loan-vs-mortgage/180072/ <p>$368K interest only 5yr arm 6.25% that resets in 3/2012<br/>$60k he <a href="http://www.zillow.com/mortgage/">loan</a> @ 10%, if paid off before 5/2010 there is a penalty.<br/><br/>what should i be paying additional principle into the he loan or mortagage? value of house is $380k do they take into consideration the <a href="http://www.zillow.com/mortgage-glossary/Loan-To-Value-Ratio-%28LTV%29/">loan to value</a> ratio if <a href="http://www.zillow.com/refinance/">refinancing</a> the he loan?</p><br \><br \>0 replies Sun, 21 Dec 2008 17:46:00 GMT http://www.zillow.com/advice-thread/he-loan-vs-mortgage/180072/ 2008-12-21T17:46:00Z