Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,MN http://www.zillow.com/advice/MN/mortgage-mortgage-types/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Jumbo Loan with 5% down? http://www.zillow.com/advice-thread/Jumbo-Loan-with-5-down/570589/ Hi all-<br/>Curious if there are any lenders that offer jumbo loans with 5% down. Looking at homes around $525,000 - $575,000, primarily in the western suburbs. Have stellar credit, minimal debt (a car loan) and great salary ($200,000/year).<br/><br/>Thanks!<br \><br \>8 replies Mon, 29 Dec 2014 05:22:00 GMT http://www.zillow.com/advice-thread/Jumbo-Loan-with-5-down/570589/ 2014-12-29T05:22:00Z What banks working in Minnesota offer special mortgage programs for licensed professionals? http://www.zillow.com/advice-thread/What-banks-working-in-Minnesota-offer-special-mortgage-programs-for-licensed-professionals/593862/ I've been reading a bit about special mortgage loan programs for doctors, lawyers, and other licensed professionals. I am an attorney looking to buy a home soon but am having a hard time finding financial institutions working in MN that advertise if they do these specialty loan programs. Any knowledge of banks that do these types of loans?&nbsp;<br \><br \>9 replies Thu, 02 Jul 2015 13:37:00 GMT http://www.zillow.com/advice-thread/What-banks-working-in-Minnesota-offer-special-mortgage-programs-for-licensed-professionals/593862/ 2015-07-02T13:37:00Z Are there any physician mortgage program providers in Minnesota (Duluth area)? http://www.zillow.com/advice-thread/Are-there-any-physician-mortgage-program-providers-in-Minnesota-Duluth-area/526797/ I'm graduating from residency this summer and trying to find a physician mortgage program for a new home purchase in Duluth, MN.<br \><br \>11 replies Sat, 01 Feb 2014 19:37:00 GMT http://www.zillow.com/advice-thread/Are-there-any-physician-mortgage-program-providers-in-Minnesota-Duluth-area/526797/ 2014-02-01T19:37:00Z Can I still buy a home after being fired? http://www.zillow.com/advice-thread/Can-I-still-buy-a-home-after-being-fired/571572/ I have been working 84 hours a week for the last 3 years planning to buy a house. I was going to check a few houses out next week, and then I got fired. I thought there was no way I'd get a house now, but then somebody told me there were special loans for people with no income. Is this true? I am getting unemployment ($1600 a month) so would that count as income? I have $20,000 in savings, however I was hoping not to use any of it for a down payment (maybe $5000, if I absolutely had to), but I had plans to build a greenhouse and convert the whole yard into a garden. I also want to buy a super cheap house (under $100,000, possibly foreclosed) so I would most likely need most if not all of my savings for repairs/remodelling. I do plan on having a roommate too, but i'm not sure if that matters to a lender. I have excellent credit, as long as a few late credit card payments didn't affect it too much, lol So knowing all of this, do I stand a chance of being able to buy a home? If so, what kinds of loans are available for people in my situation? Thanks!<br \><br \>11 replies Thu, 08 Jan 2015 03:25:00 GMT http://www.zillow.com/advice-thread/Can-I-still-buy-a-home-after-being-fired/571572/ 2015-01-08T03:25:00Z Jumbo Loan with 5% down? http://www.zillow.com/advice-thread/Jumbo-Loan-with-5-down/570589/ Hi all-<br/>Curious if there are any lenders that offer jumbo loans with 5% down. Looking at homes around $525,000 - $575,000, primarily in the western suburbs. Have stellar credit, minimal debt (a car loan) and great salary ($200,000/year).<br/><br/>Thanks!<br \><br \>7 replies Mon, 29 Dec 2014 05:22:00 GMT http://www.zillow.com/advice-thread/Jumbo-Loan-with-5-down/570589/ 2014-12-29T05:22:00Z Don't have 20% downpayment and looking at a house that qualifies as a jumbo loan, any options? http://www.zillow.com/advice-thread/Don%27t-have-20-downpayment-and-looking-at-a-house-that-qualifies-as-a-jumbo-loan-any-options/525475/ 9 replies Wed, 22 Jan 2014 20:51:00 GMT http://www.zillow.com/advice-thread/Don%27t-have-20-downpayment-and-looking-at-a-house-that-qualifies-as-a-jumbo-loan-any-options/525475/ 2014-01-22T20:51:00Z Physician Loan MN http://www.zillow.com/advice-thread/Physician-Loan-MN/529870/ Do any banks in MN offer a physician loan with 0% down (without paying PMI)? &nbsp;I know Bank of America and several other banks offer around 5% down without PMI, but wanted to see if there were any other 100% financing options.<br/><br/>Thank you<br \><br \>4 replies Tue, 25 Feb 2014 03:28:00 GMT http://www.zillow.com/advice-thread/Physician-Loan-MN/529870/ 2014-02-25T03:28:00Z Are there lenders that still do 80-10-10 loans? http://www.zillow.com/advice-thread/Are-there-lenders-that-still-do-80-10-10-loans/486841/ We're looking at selling our house and&nbsp;upgrading,&nbsp;but we don't think we'll be able to come up with 20% down. We'd really like to avoid paying mortgage insurance. But I'm not sure if lenders are still offering 80-10-10 loans. Thanks<br \><br \>3 replies Mon, 08 Apr 2013 01:52:00 GMT http://www.zillow.com/advice-thread/Are-there-lenders-that-still-do-80-10-10-loans/486841/ 2013-04-08T01:52:00Z Can you help me find a 203K (FULL) lender? http://www.zillow.com/advice-thread/Can-you-help-me-find-a-203K-FULL-lender/478696/ hi Everbody,I need to find a Lender(s) who can do FHA 203K in the Twin Cities (Minnesota) area. I am in need of a full renovation and NOT the steamline version.<br/>So, can you find me the info or refer me to someone?<br/><br/>Thanks.<br/><br \><br \>3 replies Fri, 15 Feb 2013 00:15:00 GMT http://www.zillow.com/advice-thread/Can-you-help-me-find-a-203K-FULL-lender/478696/ 2013-02-15T00:15:00Z Financing options for 1st time buyer with limited income?? http://www.zillow.com/advice-thread/Financing-options-for-1st-time-buyer-with-limited-income/459990/ <br/>Hi,<br/><br/>I would like to buy a house in the Minneapolis, MN area but I have questions about my loan options. I currently make $29,000/year with a credit score slightly above 720. My brother would be living with me as well and he makes about $19,000/year, which puts us at a total of about $48,000 per year. However, his credit score is pretty low.<br/><br/>I've done some online pre-approval calculations, and I clearly won't get a loan based on my own income by itself. However, putting me and my brother on a pre-approval won't work as well since his credit score is too low.<br/><br/>The houses we are looking at are in the 115-145K range.&nbsp;<br/><br/>We would like to have the title under our name since it would help us build our credit.&nbsp;<br/><br/>Fortunately, our dad is willing to put up $15,000 for down payment and co-sign if necessary.<br/><br/><br/>What would be our loan and financing options so we can get a 115-145K loan and still have the title under our name? What would a ballpark figure&nbsp;estimate&nbsp;for the interest rate?<br/><br/>Is it possible for me and my brother to do it on our own, or would it be easier to have my dad involved?&nbsp;<br/><br/>Any advice is greatly appreciated!<br/><br/><br \><br \>3 replies Sat, 15 Sep 2012 02:02:00 GMT http://www.zillow.com/advice-thread/Financing-options-for-1st-time-buyer-with-limited-income/459990/ 2012-09-15T02:02:00Z Why is my mortgage considered a Jumbo Loan? http://www.zillow.com/advice-thread/Why-is-my-mortgage-considered-a-Jumbo-Loan/432110/ I have a 1st mortgage considered a Jumbo Loan for the amount of $200,000.00 and my Second is for $50,000. They are at two different servicers. My house was appraised at the time I purchased at 270,000.00. So why is my First Mortgage loan considered a Jumbo Mortgage?<br \><br \>5 replies Thu, 16 Feb 2012 21:02:00 GMT http://www.zillow.com/advice-thread/Why-is-my-mortgage-considered-a-Jumbo-Loan/432110/ 2012-02-16T21:02:00Z I want to buy a REO house for primary residence that needs repair http://www.zillow.com/advice-thread/I-want-to-buy-a-REO-house-for-primary-residence-that-needs-repair/355783/ Seller will only accept cash or conventional and we cannot get approval for a 30 yr fixed due to condition of home (not extremely bad and I can do repairs needed). Bank has suggested 5/1 ARM to get us in and then refinance when repairs are done. Any other options for me?<br/>Thanks,<br/>Chris<br/><br \><br \>9 replies Tue, 29 Jun 2010 23:03:00 GMT http://www.zillow.com/advice-thread/I-want-to-buy-a-REO-house-for-primary-residence-that-needs-repair/355783/ 2010-06-29T23:03:00Z FHA streamline refi that converts to fixed after 12 months? http://www.zillow.com/advice-thread/FHA-streamline-refi-that-converts-to-fixed-after-12-months/346717/ I received a quote recently for a 5/1&nbsp;ARM that sometime after 12 months I can have converted to fixed for a small fee ($150 was mentioned on the phone) <br/><br/>Is there truly any such loan available?<br \><br \>3 replies Fri, 23 Apr 2010 00:13:00 GMT http://www.zillow.com/advice-thread/FHA-streamline-refi-that-converts-to-fixed-after-12-months/346717/ 2010-04-23T00:13:00Z 80/20 originated, blended rate single servicer, can I payoff principal on the 20? http://www.zillow.com/advice-thread/80-20-originated-blended-rate-single-servicer-can-I-payoff-principal-on-the-20/325610/ Have an almost 3yr old 80/20 for $250k. My prepay expires at 3yrs. I have a 8.5% blended rate, and make a single payment to the servicer which does not break out the two <a href="http://www.zillow.com/mortgage/">loans</a> in my statements. I am not 100% sure of the current value but am probably at 97.5% LTV best case, and 5-10K underwater&nbsp;worst case. <br/><br/>If I am not able to refi (because of LTV, dependent on appraisal) at the end&nbsp;of my prepay penalty, is there a way to begin paying&nbsp;additional principal&nbsp;higher interest 20% <a href="http://www.zillow.com/mortgage/">loan</a> when it is not broken out in my statements? How would I go about this?<br \><br \>2 replies Wed, 17 Feb 2010 16:29:00 GMT http://www.zillow.com/advice-thread/80-20-originated-blended-rate-single-servicer-can-I-payoff-principal-on-the-20/325610/ 2010-02-17T16:29:00Z