Zillow Advice RSS: Question-Discussion-Guide,Mortgage Types,VA http://www.zillow.com/advice/VA/mortgage-mortgage-types/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Building with USDA or FHA Loan? http://www.zillow.com/advice-thread/Building-with-USDA-or-FHA-Loan/553223/ My wife and I would like to buy a home within the next year, but we will have little to no down payment so will need to do a USDA or FHA loan. With that said, we've been looking for half a year at homes we'd qualify for with a USDA loan. Nothing in our area is really what we're looking for, or it needs some work in our price range. And USDA needs to be move-in ready.<br/><br/>Our ideal home is actually a small house on a couple of acres in the country. We love the idea of buying land and having something small built, but have no idea how. Would that be possible with little down payment? I've heard you need at least 20% down to buy land. And I don't know if the land has to be paid off before you can build either.&nbsp;<br/><br/>Anyone have insight?<br \><br \>1 reply Tue, 05 Aug 2014 15:58:00 GMT http://www.zillow.com/advice-thread/Building-with-USDA-or-FHA-Loan/553223/ 2014-08-05T15:58:00Z jumbo loan with low down payment http://www.zillow.com/advice-thread/jumbo-loan-with-low-down-payment/552726/ Are there any products/programs out there for jumbo loans ($1.3m) where we are not required to put down 20% in VA? We have a short sale on a property in 2011.<br \><br \>2 replies Sat, 02 Aug 2014 12:33:00 GMT http://www.zillow.com/advice-thread/jumbo-loan-with-low-down-payment/552726/ 2014-08-02T12:33:00Z Looking for local lender in northern virginia for non-warrantable condo http://www.zillow.com/advice-thread/Looking-for-local-lender-in-northern-virginia-for-non-warrantable-condo/532415/ We want to buy a condo for our daughter. Since she is not the owner it is considered an investment property. The building is less than half owner occupied so it is considered non warrantable. Our regular lender doesn't do this kind of loan. Is there a reputable lender in northern virginia who does non-warrantable loans?<br \><br \>4 replies Sat, 15 Mar 2014 12:39:00 GMT http://www.zillow.com/advice-thread/Looking-for-local-lender-in-northern-virginia-for-non-warrantable-condo/532415/ 2014-03-15T12:39:00Z My wife and I want to buy my mother's house, since she can no longer afford it and still let her liv http://www.zillow.com/advice-thread/My-wife-and-I-want-to-buy-my-mother%27s-house-since-she-can-no-longer-afford-it-and-still-let-her-liv/492468/ 7 replies Wed, 15 May 2013 19:05:00 GMT http://www.zillow.com/advice-thread/My-wife-and-I-want-to-buy-my-mother%27s-house-since-she-can-no-longer-afford-it-and-still-let-her-liv/492468/ 2013-05-15T19:05:00Z How can I get a loan on a doublewide that has been moved twice http://www.zillow.com/advice-thread/How-can-I-get-a-loan-on-a-doublewide-that-has-been-moved-twice/533325/ 3 replies Sat, 22 Mar 2014 13:49:00 GMT http://www.zillow.com/advice-thread/How-can-I-get-a-loan-on-a-doublewide-that-has-been-moved-twice/533325/ 2014-03-22T13:49:00Z Non owner occupied borrower http://www.zillow.com/advice-thread/Non-owner-occupied-borrower/531750/ Is there a loan program other than FHA that will allow non owner occupied borrowers?<br \><br \>7 replies Mon, 10 Mar 2014 21:05:00 GMT http://www.zillow.com/advice-thread/Non-owner-occupied-borrower/531750/ 2014-03-10T21:05:00Z Any first-time buyers looking for VHDA Loan program? http://www.zillow.com/advice-thread/Any-first-time-buyers-looking-for-VHDA-Loan-program/529294/ [promotion deleted by Zillow moderator. Please see our <a href="http://www.zillow.com/howto/GoodNeighborPolicy.htm">Good Neighbor Policy</a> for posting guidelines]<br \><br \>0 replies Fri, 21 Feb 2014 01:54:00 GMT http://www.zillow.com/advice-thread/Any-first-time-buyers-looking-for-VHDA-Loan-program/529294/ 2014-02-21T01:54:00Z Do you have 10/1 or 5/5 ARM loans http://www.zillow.com/advice-thread/Do-you-have-10-1-or-5-5-ARM-loans/528210/ 9 replies Wed, 12 Feb 2014 15:43:00 GMT http://www.zillow.com/advice-thread/Do-you-have-10-1-or-5-5-ARM-loans/528210/ 2014-02-12T15:43:00Z Homestyle Approved Lenders in Richmond, VA? http://www.zillow.com/advice-thread/Homestyle-Approved-Lenders-in-Richmond-VA/524103/ Hi,<br/><br/>I'm looking at buying a non FannieMae owned property that needs renovations and do not want to go the 203K route so I can avoid mortgage insurance. &nbsp;As I understand it the only other option out there is the Homestyle mortgage offered by FannieMae, are there lenders in the Richmond, VA area that offer the Homestyle mortgage?<br \><br \>5 replies Sat, 11 Jan 2014 17:26:00 GMT http://www.zillow.com/advice-thread/Homestyle-Approved-Lenders-in-Richmond-VA/524103/ 2014-01-11T17:26:00Z If I put $10,000 towards my mortgage payment, will that reduce my monthly payment? http://www.zillow.com/advice-thread/If-I-put-10-000-towards-my-mortgage-payment-will-that-reduce-my-monthly-payment/472855/ I would like to reduce my mortgage monthly payment (any amount less than the current is very helpful). I am wondering if i make a regular monthly payment but have say $5,000 or $10,000 paid against principal or interest, will it reduce my future montly payment?<br \><br \>9 replies Wed, 02 Jan 2013 15:45:00 GMT http://www.zillow.com/advice-thread/If-I-put-10-000-towards-my-mortgage-payment-will-that-reduce-my-monthly-payment/472855/ 2013-01-02T15:45:00Z How can I get help with closing cost? Seller won't pay for it. http://www.zillow.com/advice-thread/How-can-I-get-help-with-closing-cost-Seller-won%27t-pay-for-it/508157/ 10 replies Thu, 22 Aug 2013 21:13:00 GMT http://www.zillow.com/advice-thread/How-can-I-get-help-with-closing-cost-Seller-won%27t-pay-for-it/508157/ 2013-08-22T21:13:00Z I am a foreigner and want to buy a house in Virginia. Can I get a mortgage with a big down payment? http://www.zillow.com/advice-thread/I-am-a-foreigner-and-want-to-buy-a-house-in-Virginia-Can-I-get-a-mortgage-with-a-big-down-payment/506694/ Hi everyone-<br/><br/>I have been living in U.S. since 2007. I came here as a student and right now I am working with OPT. It expires on 2015 and my company will start my H1-B sponsorship next year. I have been living in a the same rental for a long time and the homeowner decided to sell it to me for $140,000. Right now, I have $100,000 down payment and I only need to loan $40,000. First, can I purchase it as a foreigner? Second, will bank loan me any money? Third, is there any other money loaning options for $40,000? And can you guys please recommend me any agent with international owner home sales?&nbsp;<br/><br/>Thanks,<br \><br \>1 reply Tue, 13 Aug 2013 20:17:00 GMT http://www.zillow.com/advice-thread/I-am-a-foreigner-and-want-to-buy-a-house-in-Virginia-Can-I-get-a-mortgage-with-a-big-down-payment/506694/ 2013-08-13T20:17:00Z Buying a piece of land without huge income http://www.zillow.com/advice-thread/Buying-a-piece-of-land-without-huge-income/497778/ I'm looking to buy my first home well not a home a piece of property. Because its a piece of land and not an actual house I'm not sure what kind of loans to look into or where to look. I don't plan on building on it for a few years. I currently don't have a large income nor do I have a large amount of debt. Any help and information would be great.<br \><br \>2 replies Tue, 18 Jun 2013 18:24:00 GMT http://www.zillow.com/advice-thread/Buying-a-piece-of-land-without-huge-income/497778/ 2013-06-18T18:24:00Z Looking for Advice http://www.zillow.com/advice-thread/Looking-for-Advice/485620/ My husband and I are purchasing a home very soon.&nbsp; The sale price is $520,000, and we are prepared to put 10% down.&nbsp; We are being offered various offers, including:<br/><br/>- 90% LTV at 4% with no points (30 years fixed), <br/>- 80/10/10 with the 80 at 3.5% and the 10 at prime + 1.99% (HELOC)<br/>- 7/1 ARM with 80 at 2.5% (0.75% discount points), and 10 at prime + 1.99% (HELOC)<br/><br/>I need some advice on what kind of product we should be taking.&nbsp; We expect to be at this home no longer than 7 years.&nbsp; With any of these options, we have some extra money to pay down the loans but not enough to cancel the HELOC within 2 years.&nbsp; <br/><br/>What kind of product should we be considering and are there any better products out there for our situation?<br/><br/>We are located in the Northern Virginia area.<br \><br \>4 replies Sun, 31 Mar 2013 09:45:00 GMT http://www.zillow.com/advice-thread/Looking-for-Advice/485620/ 2013-03-31T09:45:00Z Looking for a bank/mortg co. that will finance a 30,000 loan for HUD home http://www.zillow.com/advice-thread/Looking-for-a-bank-mortg-co-that-will-finance-a-30-000-loan-for-HUD-home/488526/ Maria<br/><a href="mailto:mmcmillan56@yahoo.com" rel="nofollow">mmcmillan56@yahoo.com</a><br \><br \>3 replies Thu, 18 Apr 2013 16:15:00 GMT http://www.zillow.com/advice-thread/Looking-for-a-bank-mortg-co-that-will-finance-a-30-000-loan-for-HUD-home/488526/ 2013-04-18T16:15:00Z What a Deal! Hampton Roads, VA http://www.zillow.com/advice-thread/What-a-Deal-Hampton-Roads-VA/486539/ A 30 year fixed-rate mortgage hasn't always been the standard. As part of FDR's New Deal in 1934, the Federal Housing Administration was created to help Americans purchase homes with affordable terms.<p>Prior to then, many loans had an amount due at the end of the term called a balloon. Most mortgages had adjustable interest rates even though some might be fixed for a short time. While banks would loan money on a home, they retained the right to call the note due at any time which could exert considerable stress on borrowers.</p><p>FHA, during this time, introduced mortgages that offered a fixed rate of interest to the borrower for a 30 year term. This fully amortized loan provided borrowers a financial vehicle that would help them achieve the American Dream while minimizing the risk of having a loan called without the resources to pay it off. It brought long-term stability to the housing market and helped stimulate the economic recovery at a very difficult time in our nation's history.</p><p>Roughly, a third of the mortgages created in 2011 were less than 30 year terms. Many homeowners, similar to those after the Great Depression, would like to get their home paid for as soon as possible. Shorter term mortgages typically have a lower interest rate but higher payments due to fewer years to amortize the mortgage.</p><br \><br \>9 replies Fri, 05 Apr 2013 20:56:00 GMT http://www.zillow.com/advice-thread/What-a-Deal-Hampton-Roads-VA/486539/ 2013-04-05T20:56:00Z Looking for Condotel financing http://www.zillow.com/advice-thread/Looking-for-Condotel-financing/486348/ Does anybody offer financing for Condotels in Va Beach, VA?<br \><br \>6 replies Thu, 04 Apr 2013 19:49:00 GMT http://www.zillow.com/advice-thread/Looking-for-Condotel-financing/486348/ 2013-04-04T19:49:00Z First Time Home Buyer w/ 800+ FICO score & 140K Annual salary but only 5% downpayment http://www.zillow.com/advice-thread/First-Time-Home-Buyer-w-800-FICO-score-140K-Annual-salary-but-only-5-downpayment/483982/ Hello..I am first time home buyer with 800+ FICO score, 140K salary. I am looking for a Townhouse in Fairfax, Herndon area for around 450,000. I can only make 5% downpayment. Can you please suggest what would be the best options for Loan. From my research it seems 5% conventional would work out better than FHA. Please advice<br \><br \>8 replies Thu, 21 Mar 2013 02:27:00 GMT http://www.zillow.com/advice-thread/First-Time-Home-Buyer-w-800-FICO-score-140K-Annual-salary-but-only-5-downpayment/483982/ 2013-03-21T02:27:00Z New_Mortgage_after_Shortsale http://www.zillow.com/advice-thread/New-Mortgage-after-Shortsale/458575/ <p class="MsoNormal">I'm curious if there are any programs out there that let a person get a new mortgage one year after shortsale is completed.<br/><br/>Credit is decent - purchased two brand new cars since shortsale<br/>Loan shows as paid in full on credit report<br/>Hardship was approved for shortsale<br/><strong>Missed payments leading up to shortsale</strong></p><br \><br \>6 replies Tue, 04 Sep 2012 20:24:00 GMT http://www.zillow.com/advice-thread/New-Mortgage-after-Shortsale/458575/ 2012-09-04T20:24:00Z Is there a waiting period after foreclosure for conventional loan? http://www.zillow.com/advice-thread/Is-there-a-waiting-period-after-foreclosure-for-conventional-loan/474835/ 5 replies Fri, 18 Jan 2013 06:35:00 GMT http://www.zillow.com/advice-thread/Is-there-a-waiting-period-after-foreclosure-for-conventional-loan/474835/ 2013-01-18T06:35:00Z