Profile picture for Reno Manuele

Reno Manuele

Lender

President (10 years experience)

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

Advice

  • (34 Contributions,
  • 0 Best Answers,
  • 3 Helpful)

Contributions are sorted newest to oldest.

Renter thinking about buying in Chicago

Answer

Purchasing over renting definitely makes sense in your case.  We would have to take a look at your credit, income, & down payment to determine Mortgage Rates.  We can issue a rate quote within minutes. 

  (0)
Renegotiating Locked Rate Questions

Answer

Try to work it out with your current lender.  By not closing on the loan at all may hurt the LO or Mortgage Company.  If the LO or Mortgage Company is not willing to help out at all, then it's in your best interest to cancel the refinance and apply with another Mortgage Company.  Most companies do have a "float down" policy in the event rates drop. 

  (0)
Feedback VA Cash-out Refi

Answer

Va guidelines allow 100% loan to value Credit score requirement- 530 minimum credit score No maximum DTI as long as its approved from Our automated underwriting system.

  (0)
Self Employed Qualify With one Year

Answer

We are able to go off of 1 year of tax returns to qualify since you have been self employed for more than 2 years.  We can also use rental income to qualify for the mortgage. 

  (0)
Exactly what does a pre approval letter from a lender include?

Answer

A Pre-Approval letter should state that the buyer's Loan Officer has reviewed the credit, income, assets, and had the file ran through an AUS system (automated underwriting system).  Some lenders provide a Pre-Qual, which is basically useless.  The Pre-Approval is much more stronger when submitting an offer. 

  (0)