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Amber Arwine, NMLS-2611's Advice

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  • 60 Contributions
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  • 3 Helpful

Amber Arwine, NMLS-2611 wrote:

How does a mortgage lender look at housing costs paid through a homeowners associating?

Answer
Yes, they will take the HOA dues into account when qualifying you for the mortgage, no matter what they cover. They will also take into account taxes and insurance(if the HOA does not have full walls in coverage - most do not).
August 03 2013
(0)

Bank, Credit Union or Third party lender, who is the best to get a FHA loan from?

Answer
Bank, Banker and Broker - What's the difference?I'm sure you've been overrun with information about the mortgage and banking industry and from your vantage point, a lender is a lender. The truth is not every lender is created equal and getting clear on the differences between banks, mortgage bankers and mortgage brokers can save you some frustration, time and in some cases, money.How do these financial institutions impact my ability to attain financing?See the full article with all advantages/disadvantages at: https://www.guaranteedrate.com/resources/bank-banker-and-broker---whats-the-difference?utm_content=buffer5cbc0&utm_source=buffer&utm_medium=twitter&utm_campaign=BufferFeel free to contact me with any other questions. Thank you!
July 29 2013
(0)

How will a Deed In Lieu affect my chances of ever buying a home again?

Answer
Here is a great guide to Post Foreclosure/Short Sale/Bankruptcy Waiting Periods: https://www.guaranteedrate.com/resources/can-i-buy-a-home-after-a-bankruptcy-foreclosure-or-short-sale
July 29 2013
(0)

After a short sale how long does it take for you to purchase another home?

Answer
Here is a great guide to Post Foreclosure/Short Sale/Bankruptcy Waiting Periods: https://www.guaranteedrate.com/resources/can-i-buy-a-home-after-a-bankruptcy-foreclosure-or-short-sale
July 29 2013
(0)

Can I still buy if i have a judgement?

Answer
It would depend on the size and type of the judgement:Tax lien? - You would need to take care of that before you would qualify for any loan, anywhere.$50 medical collection/judgement? There are loans out there that do not require you to pay certain collections in order to qualify for a loan (VA, USDA, FHA) as long as other credit is in good standing.
July 29 2013
(0)

Townhouse purchase while unemployed

Answer
You will likely not be able to get approved while unemployed unless you can prove that you have some other kind of recurring income that is likely to continue for the foreseeable future (at least the next 3 years).
July 29 2013
(0)

To lock or not - July 22, 2013

Response
Lock.
July 23 2013
(0)

Can I get an equity line on a rental property?

Answer
You can. What others don't mention is that there are not many lenders out there that do this (most of the big banks do not). Your local credit union or bank, that you've developed a relationship with would be your best bet.
July 23 2013
(1)

USDA Streamline Refinance

Answer
The two-year pilot program is open to homeowners in Alabama, Arizona, California, Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, Mississippi, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oregon, Rhode Island, South Carolina and Tennessee. Per the USDA website: http://blogs.usda.gov/2012/02/01/secretary-announces-refinancing-help-for-rural-usda-home-loan-borrowers-in-select-states/
January 11 2013
(0)