Specialties:
Buyer's Agent,
Purchase Loan,
Refinancing,
Mortgage Planning

Advice

  • (21 Contributions,
  • 1 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

Is Refinancing through HARP a good option for me?

Answer

What's your loan amount? 4.0% seems a little high right now. The pricing for 4.0% is the same as 3.75% so unless you have other adjustments than you could be getting 3.75%.

  (0)
jumbo cash out refinance loan

Response

The highest cash out amount right now for one of our lenders is $800k but we can ask for an exception on a case by case basis. If you'd like we can run it by the lender first without having to go through a full submission so all that is needed is a full loan application. Please contact me through my profile if you would like the lender's information. They have many locations in Southern California so you may have the option to go to them directly. 

  (0)
jumbo cash out refinance loan

Response

If you have a FICO of at least 740 than you may have a few options that are available to you. There are also loans out there for those with substantial assets.

  (0)
Over 4 properties needing refinancing

Answer

There are many lenders that will work with borrowers who own up to 10 properties. We happen to work with one that will finance up to 5 loans for people who own up to 20 properties. Please contact me if you'd like information.

  (0)
I'm ready to pay off my credit card judgment on my credit report.

Answer

They can add on interest. So you should pay it off as soon as possible as to not incur further interest. You should go to your county court house to see if you can pay them directly. If you pay the creditor they sometimes will take their time filing the necessary paperwork that shows your judgment has been satisfied. If you pay the court directly they will give you paperwork that you can then submit to your FHA lender and also directly to each credit agency that is reporting this judgment. Once the credit agency has verified the judgment has been satisfied they will update your credit report.

  (0)
For a first time buyer, how much %could be the min down payment?

Answer

If you want to purchase a SFR than it is best to put a minimum 20% but for condos it's best to put 75% down. These minimums would give you better rates. If you do not have a large down payment or your credit score is low than you would need to go with an FHA loan which require a minimum 3.5% down payment. But keep in mind your score has to be at least 560 to qualify for FHA.

  (0)
Mortgage while married?

Answer

If your name is also on the mortgage and it shows up on your credit report than the lender will automatically see if you have had any late payments. The lender will then want a copy of your current mortgage statement.You can get a loan on your own but you may have to show the ability to pay for both properties PITI.

  (0)
FHA Refinance

Answer

Are you required to have any reserves?

  (0)