Profile picture for Carl Henker

Carl Henker

Agent

Closing Manager, California Real Estate Sales (21 years experience)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Consulting

Advice

  • (785 Contributions,
  • 22 Best Answers,
  • 83 Helpful)

Contributions are sorted newest to oldest.

15 year refinance without appraisal?

Answer

Changing from FHA to conventional loan will require a new appraisal to confirm current value and property condition.  The new appraisal guidelines (to protect consumers) requires interior picture's of various rooms.  If you keep an FHA loan and do a streamline refi with your current lender maybe no appraisal.  But with your equity, eliminating PMI is a big piece of the refinance picture.  Good Luck

  (0)
Pre-approval requires "signed" tax returns

Answer

You can reprint and sign them.  Few save the signed copies before filing anyway.  Most lenders have you sign the copies you turn in during the process. Your lender will order a transcript to verify the ones you gave the lender match what is on file with the IRS.

  (0)
Can I get a conventional loan with no credit score and 20% down?

Answer

You will need a credit score with any conventional loan program and most FHA lenders.  You may find an FHA lender who will use alternative credit but they are hard to find. Take the time to establish credit and a score, you do not need to go in debt you just need a payment history.

  (0)
Need refi help

Answer

Leave it alone if you are moving in 3 to 5 years it will take you 3.5 years to get back your $3000 cost.  You will have more equity when it comes time to sell if you do not refinance.

  (0)
Having a hard time with cash out refinance for investment properties in Virginia

Answer

You have received correct information.  Wait a full year and one day before making application and you will be able to use current market value.  Also be aware that if you own more than 4 financed properties cash out will not be an option, only rate and term refinance may be done with conventional loan programs.  If you need to cash out before one year your options are more hard money or maybe a lender with a portfolio loan program that will consider an exception.

  (0)
Escrow Fees---Junk???

Answer

Those fees are all connected to the escrow company and not lender junk fees for profit.  You may shop different escrow companies for fee quotes to see who has the least number of junk fees. They are truly junk escrow fees!  Good Luck.

  (0)