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Gary Cohen's Advice

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  • 47 Contributions
  • 0 Best Answers
  • 5 Helpful

Gary Cohen wrote:

What can I do to get more (or better) quotes for my loan request ZR-YDKBNGN

Answer
Zillow values are not usually able to be based on remodeled work you describe. Only an appraisal can be used to determine the actual value of the property.
April 13 2011
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Are there points charged on all FHA loans?

Answer
You may be referring to mortgage insurance rather than points and yes there is MI on all FHA loans regardless on LTV. Points are only paid to get a lower rate and are only usually paid when there is a hefty seller concession.
March 25 2011
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What can I do to get more (or better) quotes for my loan request ZR-HCYZCZK

Answer
Very interesting request in that the GFE you included is made out to WF and not to you but maybe you changed the name to hide your name.The GFE shows about $425 as an origination amount and in dealing with a lender directly they are not required to show you both the origination charge and the credit you get for the rate indicated. A professional mortgage broker is required to show you that amount even though it is a net same cost. These type of loans usually take about 60 days or less. There is no reason why WF cannot get this done for you in that time. I have done many with WF and that is the time element although I ma very accessible and do help with my processing teram to move it along.Contact a local Professional off the Zillow site and let them guide you on time and completion of the loan refinance with HARP.  Good luck.  Gary Cohen 
March 12 2011
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WANT TO REFINANCE MY CONDO MORTGAGE

Answer
Zillow offers you many ways to get quotes including contacting the loan originator directly from their link.
March 08 2011
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What can I do to get more (or better) quotes for my loan request ZR-SLJWYJG

Answer
Find a qualified mortgage consultant and start working with them to determine the best program available now.
January 01 2011
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I am refinancing and wanted to know if I should I lock on 20 year filxed at 4.25% with 0 closing cos

Answer
I am wondering how you get no closing costs and a $500 credit?Rates are dynamic and chasing the last 1/8% is a waste of time. If you ar ehappy with a program lock it and close.No one knows which rates will go in a short term period.
November 17 2010
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Why Reverse Mortgages Are Popular

Response
I have helped seniors with many RM or HECM as they are also known and they have all had their lives improved by doing this type of program.It was a better value for the senior when the homes appraisal was at its highest but there is still opportunity to help today. The costs are lowest on a fixed rate program when the senior is taking out all the money possible to pay off an existing mortgage or just utilize the money as they see fit.
November 09 2010
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FHA loan with NSF in bank statements??

Answer
Consider opening up a new checking account and waiting two months but an underwriter is the only one that can make a decision if it is a problem or not if you submit that checking account for review.
November 06 2010
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What can I do to get more (or better) quotes for my loan request ZR-LRWCQDR

Answer
The quotes on Zillow are quality and reliable and should give you enough to choose from to make a good decision on where to get to get your best deal.
October 27 2010
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Can I get out of an appraisal?

Answer
Based on the information you have provided you are considered a high quality borrower. I have helped borrowers in this position by paying their closing costs not only for the appraisal but even some of the other costs.Shop around and ask the mortgage originator if they can help you the way I indicated.
October 26 2010
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