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Todd Tucker's Advice

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  • 21 Contributions
  • 1 Best Answers
  • 5 Helpful

Todd Tucker wrote:

How many mortgage preapprovals should I get?

Answer
One pre-approval is all you need but shop rates because all lenders are not equal, The Zillow Mortgage Market is a great place to start.
January 06
(0)

How do I get started to find out if we are ready for a mortgage?

Answer
Look to see if there is a First Time home buyer class available in your area, they are wealth of knowledge and sometimes required for programs that can help with down payment and closing cost assistance if you qualify.Todd
January 05
(1)

income and mortgage

Answer
If your pay is salary you can use current income to qualify for loan, if you are paid commission or tips then income would have to be averaged. If you need more info you can contact me anytime.Todd
January 05
(0)

No doc/alt doc loan lenders?

Answer
Portfolio lending is starting to come back into the market but normally requires a large down payment, it would help to know what state the property is located in. I know of several lenders in CA that have 12 months bank statement programs or asset depletion ect.Todd
January 05
(0)

Are these closing costs to high? Please advise

Answer
Credit Union's are great for small loans might want to call your local CU
November 16 2013
(0)

What can I do to get more (or better) quotes for my loan request ZR-ZJQYPMX?

Answer
Raise the loan amount up to 100,000 to get quotes most lenders will not quote loans that small but will still close loans that small.
November 16 2013
(0)

160% ltv Freddie Mac ... any hope of a refinance under Harp 2.0?

Answer
Freddie Mac direct seller should be able to help, check Freddie Mac website for approved lenders in your area the  LTV is unlimited.
July 28 2012
(0)

Can I back out of an interest lock? My lender does not want to work with me after the rates dropped.

Answer
Lenders have to hedge the locks that they take so they don't like to lower the rate once locked. If you get a GFE from another lender they may be more willing to work with you but if the appraisal has been done you might have to get a new one at your cost.
June 23 2012
(0)

Could spousal support qualify as income for a refinance?

Best Answer
Spousal support can be counted if court ordered and will continue for three years. Debt to income is based on income before taxes are taken out so divide all house payments,taxes,HOA dues (if any), insurance and all installment and revolving debt by the gross income. If you qualify for a HARP mortgage than 50% DTI may be possible. If you have any further questions please contact my through my profile on Zillow.
June 23 2012
(1)

I am looking for a HARP Loan in California. How long will it take to get a refinance if I qualify?

Answer
The big banks are taking a long time on HARP loans that is true and if there's a 2nd that needs to be subordinated that will slow things down. My average HARP has been under 30 days when there's no 2nd involved and no appraisal is required.
June 23 2012
(1)
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