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Carri Goldring's Answers

FHA help!
Have you looked into seeing if you qualify for a new mortgage with that mortgage as debt to you?
How long after bankruptcy can I receive a home loan. I am willing to put 50% down does this change anything?
Two years if you want to do FHA, sounds like you need a portfolio loan and our bank does those with your large down payment.
What is the average time between initial application and closing for an FHA loan?
I would assume between 30 and 45 days for a typicall closing
What are my options for no down payment mortgage loans?
Vacation homes require 20% down - they treat them different from a primary residence. Would you want to do a home equity loan on your current home for a down payment you could do that. $75 for closing costs only on a home equity.
Can I take out a loan if I am building my own house?
Yes, a construction loan is what you are looking to do. You could purchase a lot and build from a builder or purchase a lot yourself and then hire a builder to build. some builders will fund during construction and you just need to get a mortgage once the home is complete. Other builders can't afford to that...
Can I get a HUD loan if I have no down payment?
There is MSHDA which is a down payment assistance program through the state of Michigan that will help with down payment and closing costs if you qualify. You would be required to put at least 1% of the sales price into the transaction. Call for more details 800-372-2205; #140069 ...
Is it possible to refinance a property as soon as i inherit it or do i have to wait?
You should be one title as the owner of the property for 6 months - might be some special exceptions that can be made by doing a bank portfolio loan or a home equity loan we can look into if you want to do something sooner but you would need to show as the owner of the home. Carri Goldring 800-372-2205...
my credit score is poor would I still be able to get a first time home owner loan so I can get my first home
I agree. The credit score is important but the loan program is too. Best to spend 10 minutes on the phone with you getting your information so I can direct and councel you as to what you should do to get ready to purchase a home. 800-372-2205 -
what kind of purchase would qualify for a mortgage interest rate deduction?
If you are referring to a lower interest rate - you can pay interest up front to reduce your interest rate. You could also go on a shorter term mortgage such as a 15 year fixed to get a lower interest rate. In order to write off interest on tax returns you would need to speak to an accountant. Carri Goldring...

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