Profile picture for Jonathan  Mosca

Jonathan Mosca

Lender

Sales Manager (14 years experience)

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

Advice

  • (128 Contributions,
  • 0 Best Answers,
  • 13 Helpful)

Contributions are sorted newest to oldest.

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.

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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

  (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

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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!

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