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Jonathan Mosca's Advice

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  • 128 Contributions
  • 0 Best Answers
  • 13 Helpful

Jonathan Mosca wrote:

Would it be better to pay off a $6000 loan or pay down 2 maxed credit cards?

Answer
User, Reducing the balance owed on revolving debt will have a greater impact than an installment loan.  You do not want to pay off the entire balance, leave 10% of the limit on the card to show payment history and smart credit usage so when you are ready to buy a house your credit will have a great payment history with a low balance on the revolving credit card debt.
April 21
(1)

VA mortgage and what is considered a 'mobile'/'manufactured' home???

Answer
VA loans for manufactured/mobile homes are available.  If you would like more information you can contact me through my profile page.ThanksJonathan
March 28
(0)

What does Terms: 30 months mean on a credit report for short sale?

Answer
The 30 months does not mean you have to wait that amount of time to finance a new home.  The number in the terms section will not hurt you in qualifying for a new loan.Based on your circumstance, you should have no problem qualifying for a new mortgage right away.  Let me know if you would like more information.ThanksJonathan Mosca
March 10
(0)

Interest-only Mortgage Still Available?

Answer
They are still available, you can contact me through my profile for more information.ThanksJonathan Mosca
March 05
(0)

manufactured financing in Myrtle Beach area

Answer
Amy,My team is able to help you out, feel free to contact me through my profile.Thanks,Jonathan Mosca
March 05
(0)

Jumbo loan lenders with low down payment options?

Answer
Ranytawfik9,There are options available to you for jumbo financing with 10% down and no PMI, if you would like further information you can contact me through my profile.Thanks,Jonathan Mosca
March 05
(1)

How long does it take a loan process with the underwriter?

Answer
It sounds like there is something your loan officer is not telling you.  For the loan to be with an underwriter for 6 weeks and your loan officer not telling you anything seems fishy.  Normal turn times are about 5-7 work days.  You may need to go above your loan officer and speak to his manager to get some answers at this point.Good luck!
March 05
(0)

Can you Refinance a New Construction SFR after six months of Closing? Can you get the equity out?

Answer
User,To answer your question, YES, you may refinance to get cash out.  However, you may be limited to the purchase price and not the appraised value depending on the lender you work with.  Depending on how much money you contributed as a down payment, you may be eligible to access some of that money by refinancing.I hope this helps.
February 17
(0)

What water test is required in Chippewa Falls area for refinacing?

Answer
Chris,Depending on the type of refinance you are doing you may not need to have a water test done.  You should speak to a mortgage professional prior to having any tests done.Best of luck
January 13
(0)

I WANT TO BUY A HOME BUT I HAVE A SCORE OF 631

Answer
There are lenders that will do a loan for someone with a 631 score, you will want to talk to a few lenders that would not only help educate you on what needs to be done to increase your score but who can also help you out at this time.  If you would like more information feel free to contact me through my profile.Thanks
January 10
(0)