Profile picture for Michael Kirkutis

Michael Kirkutis

Lender

Mortgage Broker (20 years experience)

Specialties:
Purchase Loan,
Refinancing,
Mortgage Planning

Advice

  • (95 Contributions,
  • 2 Best Answers,
  • 4 Helpful)

Contributions are sorted newest to oldest.

How can I get a loan as a self-employed person?

Answer

Mortgage lenders will typically take a 2 year average of tax returns for qualfiying income.  Also, they typically need the tax returns filed and validated by the IRS meaning they have been input into the system which may take some time after filing.  Speak to a licensed mortgage person in your area about getting prequalified for a mortgage loan.  Good luck! 

  (0)
First time buyer mortgage rate seems high?

Answer

Check with a couple of other licensed mortgage professionals in your area.  You can use the find a pro tab and plug in your town/state.  Best of luck!

  (0)
Is there any way to get a new comp taken into consideration on my appraisal?

Answer

Yes, complete the appraisal dispute form listing all the things you mentioned.  See what happens with the outcome.  You could always apply with another mortgage company and get a new appraisal of value with that mortgage lender although you will have to pay for another appraisal.  Good luck!

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Minimum Credit Score to Qualify for Mortage

Answer

Each mortgage lender will have their own qualifying mortgage criteria for each particular mortgage program.  Contact a licensed mortgage professional in your area to get prequalifed to see what mortgage programs are available to you.  You can get an idea of mortgage payments and settlement costs for each particular program.  You can use the find a pro tab to look for someone in your town/state.  Good luck!

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Step by step, what do I do first to buy my first home?

Answer

The first step is to get prequalifed by a licensed mortgage professional for a mortgage loan.  A mortgage professional will analyze your personal financial situation to see which particular mortgage programs are available to you.  You can get an idea of monthly mortgage payments and overall settlement costs associated with your home purchase which will help you in your decision making.  Good luck!

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How are property taxes and HOA calculated for pre-qualification/pre-approval?

Answer

In qualifying someone for a home mortgage without a specific property, we will research taxes and HOA fees for properties in the value range and town that the person is considering.  This will give a general idea of the taxes and HOA fees for similar properties as a start.  Once a borrower has a specific property, then we can rerun the numbers with actual housing expense items for that particular property.

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New GFE & fee <48 hours before closing?

Answer

In CT, we have had a few storms in recent years where they declared certain counties disaster areas.  The mortgage lenders ordered updated compliance inspection certificates to confirm the current condition of the properties so that no damage had occurred.  It fell under a "changed circumstance" in the GFE and the additional charges for the appraiser inspection applied to the mortgage transaction. 

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