Dave Skow's Q&A

probably

90 days

whats loan amt ? whats the appraised value ? credit score?  income  and debt level ? is the loan a fannie or freddie loan?  who is present lender? as you can see - lots of questions  go into this answer

Tonya - welcome ...if the "ltv"  can be kept under  105% and if the loan is eitehr a Fannie or freddie loan   and  if  he qualifies OK  ( debt to income ratio , credit score  etc  Ok ...he should have some other lender  options to look into ..thanks

Tonya - Q#1-do you  ( or does he )  have any idea as to what the reason for denail was?  Q#2- has the property been recently appraised ?Q#3- was he denied by the lender that is presently holding / servicing the mortgage ?finding this out might  help figure out the next steps to take ..Dave Skow

i would definitely go for it .....if the 69 month breakeven period is  concerning you you might look at  options that have lower costs  but slightly higher rates ( eg. 4.75% or even 5 to see if these options have shorter breakeven periods....Dave Skow

Not me ..Dave

HANSAN ..thanks for the notes The reason no quotes are  coming up is that the  system shows the lower score  ( thus no quotes ) ...I would encourage you to contact a local  lender to have someone  that you can communicate with directly look into your options  ( this site isnt to helpful when the scenario is  outside of the box) Dave SKow [erased contact information, they can click on your profile to contact you]

reason no quotes are  coming up is that the  system shows the loan to value  over  100% ( thus no quotes ) ...I would encourage you to contact a local  lender to have soemone  that you can communicate with directly look into your options  ( this site isnt to helpful when the sceanrio is  outside of the box)

yes1) down payment can be 02) VA loans can be more " forgiving" on lower credit scores 3) no monthly mortgage insurance ( although theer is a VA upfront funding fee that is paid at the time of closing )