Zillow Advice RSS: Question-Discussion-Guide,Refinance,KS http://www.zillow.com/advice/KS/mortgage-refinance/question-discussion-guide/ Zillow Advice search results | Zillow Real Estate Loan approval during refinancing http://www.zillow.com/advice-thread/Loan-approval-during-refinancing/601758/ Can underwriter reject my loan application during refinancing due to VISA issue? I purchased my house two years ago when I was on J1 VISA. Previous lender rejected my loan due to J1 VISA and asked H1B to get approval. I submitted waiver documents to bank as I have already started H1B process. I got approval on J1 VISA after it.<br/><br/>Now I am in process of refinancing and underwriter approved my loan on condition. Condition is green card which I do not have. Please suggest.<br \><br \>10 replies Mon, 24 Aug 2015 21:43:00 GMT http://www.zillow.com/advice-thread/Loan-approval-during-refinancing/601758/ 2015-08-24T21:43:00Z 90% Jumbo LTV or piggyback in KS http://www.zillow.com/advice-thread/90-Jumbo-LTV-or-piggyback-in-KS/572277/ I have a HELOC with E-Trade with a balloon due in July. &nbsp;Home value approximately $550. &nbsp;Have first at $405 and 7.25% and HELOC at $90 at 6. &nbsp;Need to repackage into jumbo or piggyback before balloon is due. &nbsp;Self-employed with S corp, W-2 and Schedule C income. &nbsp;Credit score approximately 715. &nbsp;Can anyone help?<br \><br \>2 replies Thu, 15 Jan 2015 04:32:00 GMT http://www.zillow.com/advice-thread/90-Jumbo-LTV-or-piggyback-in-KS/572277/ 2015-01-15T04:32:00Z What can I do to get more (or better) quotes for my loan request ZR-STWCQLS? http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-STWCQLS/530097/ how can i get a better 15yr refinance loan or should i try to get a 30 yr &nbsp;refinance loan for a low 3% we have perfect credit scores and good income and never late on our mortgage payments. what would be better ?????&nbsp;<br \><br \>1 reply Wed, 26 Feb 2014 19:46:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-STWCQLS/530097/ 2014-02-26T19:46:00Z Mortgage: Re-fi or pay to principle? http://www.zillow.com/advice-thread/Mortgage-Re-fi-or-pay-to-principle/512570/ Bought my house three months ago and paid 20% down. Now I'm receiving some gift money from my parent. It's about 30% of what the house is worth. If I pay it towards principle, will that bring down my monthly mortgage payment? Or it's better to just re-finance? Please help. Thanks!!!!!<br \><br \>7 replies Mon, 23 Sep 2013 19:39:00 GMT http://www.zillow.com/advice-thread/Mortgage-Re-fi-or-pay-to-principle/512570/ 2013-09-23T19:39:00Z Escrow used in refinance to pay mortgage registration tax http://www.zillow.com/advice-thread/Escrow-used-in-refinance-to-pay-mortgage-registration-tax/507791/ We just refinanced with the same mortgage company through a HARP mortgage. &nbsp;We were told there would be no closing costs to pay, not upfront and not rolled into the loan. &nbsp;However, when the final settlement statement came out at closing, $300 had been taken from our existing escrow account to pay state mortgage registration tax. &nbsp;They're answer was that we mis-understood when they told us the escrow account would be reviewed, and if additional was needed to fund our escrow, then that would be the only cost rolled into the loan. &nbsp;They're now saying that the escrow account is for taxes, and the mortgage registration was a tax.... therefore it comes from escrow or must be paid by the applicant and that we would have been paying this cost regardless of whether or not we refinanced our loan. &nbsp;I know the 2nd half of that (paying regardless) is not true. &nbsp;Can anyone tell me if paying mortgage tax is an allowable use of the escrow, and if there is a rule that mortgage taxes must be paid by the applicant? &nbsp;<br \><br \>1 reply Tue, 20 Aug 2013 18:30:00 GMT http://www.zillow.com/advice-thread/Escrow-used-in-refinance-to-pay-mortgage-registration-tax/507791/ 2013-08-20T18:30:00Z Finding lender for HARP Refi with PMI http://www.zillow.com/advice-thread/Finding-lender-for-HARP-Refi-with-PMI/492079/ I'm struggling to find a lender for a 30 yr refi, with PMI. &nbsp;I'm at at 102% LTV. &nbsp;Credit is 670.<br/><br/>Per underwriting, told I'm a EA-1 (12 month current, but had some lates prior to this)<br/><br/>Advice?<br \><br \>8 replies Mon, 13 May 2013 15:30:00 GMT http://www.zillow.com/advice-thread/Finding-lender-for-HARP-Refi-with-PMI/492079/ 2013-05-13T15:30:00Z Is there a possibility of refinancing to consolidate a Primary and a seconday mortgage ? http://www.zillow.com/advice-thread/Is-there-a-possibility-of-refinancing-to-consolidate-a-Primary-and-a-seconday-mortgage/485388/ Want to refinance to consolidate a primary mortgage and a home equity loan.<br \><br \>2 replies Fri, 29 Mar 2013 18:24:00 GMT http://www.zillow.com/advice-thread/Is-there-a-possibility-of-refinancing-to-consolidate-a-Primary-and-a-seconday-mortgage/485388/ 2013-03-29T18:24:00Z Can I get a cash out refinance for home improvements if I have less than 20% equity? http://www.zillow.com/advice-thread/Can-I-get-a-cash-out-refinance-for-home-improvements-if-I-have-less-than-20-equity/465648/ My husband and I&nbsp;want to refinance soon.&nbsp; We bought our home in 2008 for $311,000 and have made several improvements.&nbsp; Based on similar local sales, I believe it will appraise for around $320,000 now.&nbsp;&nbsp;We currently owe about $278,000, so&nbsp;we do not have 20% equity.&nbsp;&nbsp;We would also like to finish&nbsp;the basement, which I am estimating will cost about $20-$25k, or possibly less, because we&nbsp;are willing to&nbsp;do some of the simpler work ourselves (painting, etc.).&nbsp;&nbsp;What are&nbsp;the options?&nbsp; Can&nbsp;we do a cash out refinance?&nbsp;&nbsp;We are&nbsp;already paying PMI, so what are the pros/cons of&nbsp;cashing out on&nbsp;a first&nbsp;mortgage, if we are eligible?&nbsp; Do any lenders look at the estimated value after improvements for the refinance?&nbsp; Would we be better off&nbsp;refinancing the first, then getting a second for the improvements, or would we even qualify for&nbsp;a loan like this?&nbsp; (Our credit scores are in the 750 range,&nbsp;debt ratio is less than 20% with mortgage, and we have 4 and 18 years with current employers.)<br \><br \>1 reply Wed, 24 Oct 2012 21:12:00 GMT http://www.zillow.com/advice-thread/Can-I-get-a-cash-out-refinance-for-home-improvements-if-I-have-less-than-20-equity/465648/ 2012-10-24T21:12:00Z Currently qualify for HARP 2.0, is it possible to refi without the appraisal? http://www.zillow.com/advice-thread/Currently-qualify-for-HARP-2-0-is-it-possible-to-refi-without-the-appraisal/457731/ I've contacted a few local lending institutions and my current holder Citi, who've all wanted me to front 250-350 for an appraisal in addition to a hefty application fee. At the current time, I can't really swing that. From everything I've read, it should be possible to do this without an appraisal. I've got a Freddie Mac loan from 06-07sh, and while my credit is currently abysmal (540sh), I have never once been late or missed a payment in around 6 years (entire loan period to date). I get that I won't hit the 3.x mark, but even 4.5 or 5 would be lower than the 7 I'm at right now. Last appraisal was a couple years ago at the same amount I purchased at (120k) and I currently owe 110k and change.<br/><br/>Any thoughts on this that might help me out?<br \><br \>4 replies Wed, 29 Aug 2012 05:24:00 GMT http://www.zillow.com/advice-thread/Currently-qualify-for-HARP-2-0-is-it-possible-to-refi-without-the-appraisal/457731/ 2012-08-29T05:24:00Z Can I re-fi w/o getting an appraisal? I don't have PMI, but value has dropped & now I'm &lt; 20% equity http://www.zillow.com/advice-thread/Can-I-re-fi-w-o-getting-an-appraisal-I-don%27t-have-PMI-but-value-has-dropped-now-I%27m-lt-20-equity/450919/ In July of 2010 (at the height of the first-time-homebuyer-tax-credit "boom") I re-financed my mortgage for a final balance of 124,000 at 5.0%. &nbsp;At the time, it appraised at 155,000, so i was right at the 20% equity mark and therefore stopped paying PMI.<br/><br/>Now that rates are in the 3's, I am interested in re-financing again, but I'm concerned about paying $350 for an appraisal fee and being below the 20% equity mark and then having the new PMI off-set any savings that the decreased rate would offer.<br/><br/>Anybody know of any banks that would allow me to get around this predicament? Zillow estimates my house at around 140k, but I realistically think it is around 148k. &nbsp;My mortgage balance is currently at 120,400. &nbsp;<br/><br/>Thanks in advance for any advice.<br \><br \>2 replies Fri, 13 Jul 2012 21:37:00 GMT http://www.zillow.com/advice-thread/Can-I-re-fi-w-o-getting-an-appraisal-I-don%27t-have-PMI-but-value-has-dropped-now-I%27m-lt-20-equity/450919/ 2012-07-13T21:37:00Z 38% of all homes purchased now are with cash.... http://www.zillow.com/advice-thread/38-of-all-homes-purchased-now-are-with-cash/426390/ <p>Despite record low mortgage rates, 2011 has seen a surprisingly high level of cash home purchases. Between tight lending standards and a desperate search for yield by investors, cash purchase of homes (especially distressed properties) became even more common in 2011 than last year.<br/><br/><a rel="nofollow" href="http://www.housingintelligence.com/economics/38-of-homes-purchased-with-cash.html">More here.......</a></p><br \><br \>2 replies Wed, 21 Dec 2011 16:00:00 GMT http://www.zillow.com/advice-thread/38-of-all-homes-purchased-now-are-with-cash/426390/ 2011-12-21T16:00:00Z What can I do to get more (or better) quotes for my loan request ZR-QFXNVYC http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-QFXNVYC/414715/ I only owe 41,000 on my house that is worth 55,000 - which is not selling. &nbsp;I've had one showing in 5 months. &nbsp;I am seriously considering turning it into a rental and refinancing. &nbsp;Can you help? &nbsp;I have excellent credit 819.<br \><br \>2 replies Thu, 08 Sep 2011 00:23:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-QFXNVYC/414715/ 2011-09-08T00:23:00Z My Ch 7 BK will be discahrged 3yr http://www.zillow.com/advice-thread/My-Ch-7-BK-will-be-discahrged-3yr/392151/ <p>I have about 24 years left on my 30 yr fixed @ 6.875% The pay off is about $53,000. Would it benefit me to refinance? If so, what products would be appropriate for me if I don't want to increase my payments much more than the current P/I of $373.14? My credit score is just over 700. My Ch 7 BK will have been discharged 3 years on 04/29/2011</p><br \><br \>5 replies Thu, 24 Mar 2011 22:15:00 GMT http://www.zillow.com/advice-thread/My-Ch-7-BK-will-be-discahrged-3yr/392151/ 2011-03-24T22:15:00Z cancel refinance after closing http://www.zillow.com/advice-thread/cancel-refinance-after-closing/383794/ I feel very bad that I might have to cancel my refinance in recission period after I was told of my option. I want to know what will happen to my mortgage agent and appraiser? Does any of you have the experience? How often does this happen? Is there a way to make every one happy?<br \><br \>16 replies Mon, 31 Jan 2011 03:47:00 GMT http://www.zillow.com/advice-thread/cancel-refinance-after-closing/383794/ 2011-01-31T03:47:00Z Refinance or equity loan? Pros and Cons? http://www.zillow.com/advice-thread/Refinance-or-equity-loan-Pros-and-Cons/378138/ Just divorced and need to remove my husband's name from the mortgage.&nbsp; <br/>House appraised: $195,000<br/>Remaining loan amount: $89,000<br/>Credit card debt: $30,000<br/>House payment: $758/mo at 5.0%&nbsp; loan rate<br/><br/>Options:&nbsp; $500 fee to complete liability name change, and take out an equity credit line for $30,000 to pay off credit cards (at 5.0% variable interest rate, +$450/mo for 6.5 years to pay off this debt).&nbsp;&nbsp; Keep original loan at 5%.<br/><br/>Or...30 year fixed rate at $5.1% interest rate, take out $120,000 loan, pay off credit card debt, and increase house payment to $980/month.&nbsp; Refinance fee $1700.&nbsp; <br/><br/>What are the pros and cons?<br \><br \>2 replies Sat, 18 Dec 2010 18:08:00 GMT http://www.zillow.com/advice-thread/Refinance-or-equity-loan-Pros-and-Cons/378138/ 2010-12-18T18:08:00Z considering refi 93M 15 vs 30 year fixed value 130M good credit scores and no other debt http://www.zillow.com/advice-thread/considering-refi-93M-15-vs-30-year-fixed-value-130M-good-credit-scores-and-no-other-debt/372280/ 7 replies Fri, 22 Oct 2010 17:00:00 GMT http://www.zillow.com/advice-thread/considering-refi-93M-15-vs-30-year-fixed-value-130M-good-credit-scores-and-no-other-debt/372280/ 2010-10-22T17:00:00Z refinance in kansas to pay off all bills. bad credit due to nursing school? Can anyone help? http://www.zillow.com/advice-thread/refinance-in-kansas-to-pay-off-all-bills-bad-credit-due-to-nursing-school-Can-anyone-help/348678/ lots of bad credit card debt while in nursing school. Just graduated and income is greatly increased. Can I refinance home with bad credit in order to improve credit and just start over?<br \><br \>5 replies Wed, 05 May 2010 22:50:00 GMT http://www.zillow.com/advice-thread/refinance-in-kansas-to-pay-off-all-bills-bad-credit-due-to-nursing-school-Can-anyone-help/348678/ 2010-05-05T22:50:00Z Would like to Refi. (25, 20 yr fixed)in the Kansas City Area, where can I get the best rates? http://www.zillow.com/advice-thread/Would-like-to-Refi-25-20-yr-fixed-in-the-Kansas-City-Area-where-can-I-get-the-best-rates/279753/ I have a single family home in the KC area.&nbsp; I currently owe 213,500k on the 1st, and approx. 39-40k on the second.&nbsp; Paid 275k around 4 years ago, would imagine it would appraise around that # now.&nbsp; Refinanced about 2 years ago to 5.875% on a 30yr. (TB&amp;W, what a joke) and subordinated purchase 2nd.&nbsp; I missed the boat <br/>(low rates)during the spring, looking for low rates now&nbsp;and fee's (really??).&nbsp; Great credit and DTI, easy <a href="http://www.zillow.com/mortgage-glossary/Borrower/">borrower</a> with all documentation ready to go, let me know.<br/><br/>Thanks,<br/>Scott<br \><br \>10 replies Thu, 17 Sep 2009 17:48:00 GMT http://www.zillow.com/advice-thread/Would-like-to-Refi-25-20-yr-fixed-in-the-Kansas-City-Area-where-can-I-get-the-best-rates/279753/ 2009-09-17T17:48:00Z I want to refinance first/second mortgage of 124,000/10,000, respectively. Credit Score 680. http://www.zillow.com/advice-thread/I-want-to-refinance-first-second-mortgage-of-124-000-10-000-respectively-Credit-Score-680/320926/ 3 replies Tue, 02 Feb 2010 06:41:00 GMT http://www.zillow.com/advice-thread/I-want-to-refinance-first-second-mortgage-of-124-000-10-000-respectively-Credit-Score-680/320926/ 2010-02-02T06:41:00Z I did not get any quotes on my loan request (ZR-ZBYCCPD). Can someone help me figure out why? http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-ZBYCCPD-Can-someone-help-me-figure-out-why/310377/ 3 replies Wed, 30 Dec 2009 22:22:00 GMT http://www.zillow.com/advice-thread/I-did-not-get-any-quotes-on-my-loan-request-ZR-ZBYCCPD-Can-someone-help-me-figure-out-why/310377/ 2009-12-30T22:22:00Z