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Jason Wroble

Purchase Loan,
Mortgage Planning


  • (107 Contributions,
  • 2 Best Answers,
  • 5 Helpful)

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would I be qualified for a loan


Well, Simple answer would be:1. Self Employed for 2 years2. On your tax returns what is your bottom line for income and underwriter will average over 24 months.All the other items will be determined depending on property and the rest of your profile. Hope this helps, have a glorious day! :)

I did not get any quotes on my loan request (ZR-GMNTDJQ). Can someone help me figure out why?

Best Answer

You are correct but the HASP program that goes up to 125% LTV is for Freddie Mac owned loans and majority are done by the lender servicing the loan.The only other option that I can think of is find a HUD approved counselor and see if there is anything they would be able to do. They should be free to talk with. Hope this helps, have a glorious day!

If I put down less than 20% will I have to have PMI? I have a great credit score and no debt.


Faibae, Another option if over 80%LTV would be doing a split mortgage insurance or 1 payment option where you pay all the mortgage insurance at closing. The advantage to this would be if the seller is paying anything towards closing costs or prepaid items then they will be paying for your mortgage insurance and if you refinance with in 5 years some of that money could be refunded to YOU. Hope this helps, have a glorious day!

How is this refinance option


Yes, be very careful because on a 30 year fixed I do not see any lender paying a YSP of 3% which the broker would probably be using to pay your closing costs. Also look for any pre-payment penalties and make sure it is truely a 30 year fixed. Hope this helps, have a glorious day!

How soon to get a loan when back to work in same field after a layoff?


Simple answer is just need proof of a paystub on his current job or some places might need 30 days worth. Since he is in a kind of seasonal employment and union worker then you should be good. Also prepare a letter of explaination of the job gap. Hope this helps, have a glorious day!