Perhaps a reverse mortgage provided there is adequate equity or a conventional interest only program?
Yes, in most cases a VA funding fee will apply. If you have a service connected disability, then VA may waive the funding fee.The VA funding fee can be paid by you or financed into the loan.Hope this helps, Steve
Hi Olive,My underwriting manual says 4 years. This applies to short sales, foreclosure, or deed in lieu of foreclosure. Hope this helps. Steve
Short answer: no.If you're not on the application, your income cannot be utilized for qualifying.
IRS 4506 Copy of Tax transcript. If the transcript shows income/loss from rental property (schedule e) , self-employment (schedule c), or income/loss from partnerships/corporation, then a tax return is required to validate. If none of the above apply, then I don't believe a tax return will be conditioned by the underwriter. Hope this helps.
Under conventional loans, it's 4 years before you are eligible for a mortgage.
I have 2 products available, 105% and 125%. The new loan can be up to 125% of the appraisal. Give me a call and I can work up a quote and see if it's worthwhile for you. Thank you, Steve
120% is also used.
No-doc or stated loans are gone.
Hello, In Florida, you will need 20% down. Steve