Profile picture for Crestico Funding

Crestico Funding

Lender

Real Estate Mortgage Lending (7 years experience)

Specialties:
Purchase Loan,
Refinancing,
Home Equity,
Mortgage Planning

Advice

  • (62 Contributions,
  • 0 Best Answers,
  • 3 Helpful)

Contributions are sorted newest to oldest.

want to refiance my home...moving up and holding onto current primary residence. what do I disclose

Answer

Are you purchasing the new property as a primary resident? How long before until you actually move out of your current primary resident and move into your new home? What is the millage distance between the two properties? how long before you actually find a tenant for your current property? there are also few other questions that i would like to ask before i can provide you with a better answer, but you could still refi your current property if you have enough equity as an investment property with the low rates available in market.

  (0)
I owe 275000.00 at 5.25% 20 years left should I refi at a 15 year 4.25 % to pay off sooner?Or

Answer

If you can afford the 15 years monthly payments, which would be about 500 dollars a month higher, you will save about $180K in finance charges.a $275K Mortgage on a 30 Years fix at 5.25% with monthly payments of $1510.00 will cost you $546,681.00 including your finance charges and a 15 years fix at 4% with monthly payment of $2035 will have a total cost of $366,145.00 including finance charges.If you need more information please feel free to contact us. Thank you

  (0)
does my upgrades to my house and home improvements raise the value?

Answer

In today's market your property value is dependent on the most recent sales transaction in your neighborhood regardless if you want to sell your house or refinance it. When an appraisal is giving his/her opinion on your property, they will start by finding properties similar to yours (ie, Land Size, Living Space, # bed and bathrooms, pool and etc) upgrades to your property does help you to a certain point... in short, if all the similar/comparable properties in your area/neighborhood are being sold for 200K, that is about how much your property is worth to a lender.

  (0)
Want to purchase a new house with an underwater property on hand

Answer

I would say you have a 95% chance of getting a new mortgage, but i do like to look at your wife's tax returns because of the property that she owns with her sister. please feel free to call me so i could explain couple of available options that we can provide for you. Thank you

  (0)
Refinance for low income

Answer

You should qualify for a new mortgage depending on your Credit Score and Other Liabilities such as Credit Card Payments, Medical Bills, Auto Loan and etc...If you like please feel free to contact us and we will be more than glad to provide more information for you...[links removed by moderator due to self-promotion]

  (0)