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Brad Jamison's Answers

I am self employed, credit of 608 and want to buy a house for $50,000. Are there any lenders that would consider me?
Good Morning valrey, your biggest challenges will arise from the 608 credit score, length of self-employment and the income/loss as reported on your tax returns. There are ways to get your credit score up over a fairly short period of time but if your score is what it is because of a recent bankruptcy,...
Will the value of my condo go down if a similar condo unit is built across the street?
Hi Christa, they can but generally speaking condo values are very static with recent sales within your condo project. Could you be more specific about the changes your are referring to? Please3 feel free to contact me directly to discuss in more detail.
can i see how i qualify for a mortgage without going to see a lender
Absolutely Mike. We are a full service Mortgage Broker and don't need to pull credit or take any senstitive information to simply discuss your situation to give you an idea where you stand. FYI your time at your ciurrent employer is more than sufficient. Please feel free to call me at 970-232-2976 to...
Is 15 years fixed a good option for refinancing in this rate environmnet
It's a GREAT option depending on your current rate and loan amount. Please feel free to call me if you want to discuss in more detail. I'd be happy to run the numbers for you so you know where you stand, 970-775-3124.
What are the benefits of getting a 5/1 ARM now?
I would agree with William and Michael but would add this caution. ARM's are great products but keep in mind that the liklihood of rates being higher 5 years from now are substantial and if that's the case, your rate will increase accordingly. Feel free to call me to discuss in more detail. 970-232-2976
Are my student loans considered in my dti if they aren't in repayment?
To keep them out of your DTI calculation you would have to document that they will be deferred for a minimum of 3 years. If you would like to run some numbers please feel free to give me a call at 970-2323-2976
Is 1 point reasonable to pay for a 4.25% rate? It seems to be excessive.
For an A+ Borrower, we have a 30 year fixed conventional at 4.25 paying the Borrower 1 point in credit this morning Jeffrey. 4.25 on the govt loans would be paying all closing costs and prepaids on loan amounts of $175K or more. Beware of any Lender saying that paying points is not excessive or playing the...
are mortgage rates subject to negotiation?
They are to a certain extent as long as you are dealoing with an honest loan officer. Paying points is typically not advised but can be financially advantagious if you have a higher loan amount and/or plan on staying in the home for the long term. Please feel free to call me and discuss in more detail if...
I don't own a home. How can I get a quote without filling out that information?
To get a formal and accurate quote you'd need to let the Laon Officer take an application but we can take some very basic information and discuss your options without running credit. Also, because rates change daily, I'd highly advise getting at least 3 quotes, all in the same day so you know where...
Do 203k loans allow purchase of appliance like ovens?
Yes they do. I am getting ready to close on one that is a complete gut of the home down to the studs all the way through to the finshed product with brand new stainless steel appliances. Feel free to call if you have any questions, we are 203K specialists, 970-775-3124. Have a great day.
my grandmother and lender failed to acknowledge that I am an adult living in the home and have me sign the document
Are you a Co-Borrower on any financing or on deed as a co-owner of the property?
Do any colorado lenders still offer no doc or siva loans?
Believe me when I say that it surprises me to be able to say "yes." We have a national Wholesale Lender that just released a stated income program. Must have verifiable assets though. Please feel free to call me to discuss in more detail. 970-232-2976.
Is it worth it to refinance a VA 30 year Loan to a VA 15 year loan. Current rate is 4.75%. We have excellent credit.
Unquestionably. If you can handle the payment it will save you thousands in interest. Please feel free to give me a call with any questions. I am a Veteran myself and specialize in VA financing.
Can I refinance my loan from FHA to Conventional with stated income?
Not sure who you are talking to but FHA does allow non-occupant co-borrowers (co-signer). You can't do an FHA "Streamline Refinance" and add a co-applicant that was not on the original loan but you can do a full refinance with a non-occupant co-borrower at little or no cost. We also have alternate...

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