Profile picture for Brian Stone

Brian Stone

Lender

Mortgage Loan Officer

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

Advice

  • (23 Contributions,
  • 0 Best Answers,
  • 0 Helpful)

Contributions are sorted newest to oldest.

Looking for More Blog Topics?

Response

Great idea! I run a Mortgage Blog so that is fantastic information to have on hand.-Brian Stone

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Have you seen the Case-Shiller numbers for Portland?

Answer

I agree with you 100% on this... I think everyone in the local industry has seen a large increase since March 2012. Be ready for the builders!!! We have too many buyers for our limited inventory.It is the perfect storm for builders to start making leaps and bounds.

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Mortgage with high assets no income

Answer

Hello, Glad to see a little "Local" blood on here once in a while... Justin's response below illustrates perfectly the same process I would undergo for your loan. One option you have that can carry a lot of weight is with a small (smaller the better) local credit union or bank. If you were to speak to the branch manager and describe the loan you are looking for and the ability to bring your cash to their accounts in return for their services. I think you may find a few different options out there. You can contact me directly if you need any recommendations!

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Locking in a rate. Help

Answer

I would need to have more info in regards to why your FICO dropped 2 points. Typically that small of a movement would not cause such a drastic change in pricing.I would very much consider talking to 2-3 other local lenders to try and compare rates/fees.Good Luck!

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Looking to change jobs this year but we want to build...

Answer

It will differ depending on the lender that you choose... I would try reaching out to a few of your local credit unions and explain the situation very clearly to them upfront. In my expertise the job change could affect the mortgage if it were less pay, or a vastly different job role. Other factors come into play such as, is the pay structure changing (from salary to hourly, or ownership change?)If the payment structure of the job was not different from before, and the pay does not decrease... I see no issue with the job change.

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Mortgage types for my needs?

Answer

Yes, there are many many lenders out there that can move forward with a Fannie Mae 3% down conventional loan. It appears your stated FICO score is above the minimum requirements. Try asking a smaller more local lender in your area and ask about this specific product for "Fannie Direct" Lenders.Good Luck!

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refinancing singlewide mobile home

Answer

Yes, You can definitely find financing for a single wide  built in 1986. There are many determining factors and since I am not licensed in your state I would recommend you chat with a lender in your local area!

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