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Chris Mylin's Answers

Clarification/Who's giving the right answer?
I believe that you have some options but it will depend on how the deal is structured. The problem with waiting for HARP 3 is first no one can say for sure when and if it will be launched and second rates could change drastically by the time HARP 3 does come out. As for DU Refi - what you are hearing is correct. ...
I want to refinance my mortgage but do not qualify for any government assisted programs
Based on what you are sharing you should have several options. Everyone on here is going to have a position on big bank vs. local bank vs. broker. Truth be told, they all have advantages and disadvantages. My suggestion would be to talk to your friends or co-workers and see if someone has a positive...
Should I streamline refinance?
I agree with everyone else in that the rate seems high. With that I would definitely encourage you to take advantage of the Streamline program. One thing to keep in mind too is that in most states and with most lenders the Streamline program changed somewhat this month regarding rolling in fees when...
What would be the total closing costs for this refinance loan?
Along with what the others have said there will also be a variance in costs based on the company being used. One company might have a higher underwriting fee then another and so on.
Need to purchase REO property for 475k with a 560 FICO
As everyone else has stated you would have to have at least a 640 credit score BUT I am not necessarily ready to dismiss this or go hard to hard money. First - where did you get the score of 560? Often times the free credit score companies online are not accurate so I would start by checking that. Depending on...
If i buy an FHA loan do i have to file my taxes there at the end of the year?
You do not need to have filed your 2011 taxes as long as you filed an extension. You will however need a copy of the extension.
Purchasing my mother's home. Am I likely to get a mortgage loan?
You should have no issues buying the house. The others are right in that she can gift you equity if you want to go that route.
can i refinance with a LTV of 76% with a 630 credit score?
Yes you can refinance at that. If you currently have an FHA loan then you could look into a FHA Streamline. If not you should look at your credit closely and determine if there is anything incorrect because as lbennett mentioned you are not far away from the "standard" 640 which will yield you a...
can I buy a home.
Unfortunately you will have to wait until you hit the 2 year mark. Congrats on getting your score up and once you have past 2 years you should be able to get something.
I have my home under Land Contract, and we now have 5 kids, can we get a second FHA Loan?
FHA does allow for up to 2 properties. I would be more then happy to help you with this loan. Please contact me on my cell at 614-266-0304 or by email at
FHA 2-fam
I agree - with the Omega post.
Can I buy a home with only 2 years credit history?
You shouldn't have any problems with getting approved.
Can I refi from a 30 year to a 15 year mortgage even though I dont have any equity?
Is your current loan an FHA loan? If so you might be able to do a FHA Streamline without an appraisal.
Should I refi using HARP
I would recommend it. Not only are you saving $55 per month but with shaving 4 years off of the term you are really saving significantly more. Say for example your principle payment is $1200 a month. If you calculated these savings $1200 X 12=$14,400 annual savings then $14,400 X 4 years= $57,600 in...
VA home loan with credit score of 636
I would recommend that you request a copy of your credit report and start by seeing if there are any inaccuracies on the report. Standard minimum score is 640 so you are very close. If you have any inaccuracies you can request that they be removed and your score adjusted accordingly. If this does not work...
My fiance has a credit score of 663 and mine is 615, can we get approved for a home loan?
I agree with the others that getting your credit score up would be a priority but at the same time I would imagine that you are anxious to buy. One thing to consider is your fiance being the only one on the loan. If you went this route you would not be able to use your income so your fiance would need to qualify on...
Where can I find a convential lender when I have a forecllusre 2 years ago?
You should be able to find a lender just about anywhere in GA that would be willing to help you. There shouldn't be any need to go with a private money lender (if that is what you were referring to) unless you haven't re-established your credit or have continued to have poor credit. If that is the...
Seller has a contract and buyer wants to pursue a VA loan..
You will need to form a question in order for anyone to be able to assist you.
Are USDA loans exclusively 640 minimum credit scores or is a 620 middle acceptable?
Depending on the lender they might not have a minimum credit score. I do not lend in Florida but can refer you to someone who does if you would like. Otherwise you should be able to find someone locally that would be able to help you.Good Luck...
How do I obtain refinancing on a commercial property which is mixed use?
I am a lender in Ohio and there is a chance that my experience will not apply to you in CA but I recently had a deal that was mixed use and the only way to get it done was to go to a local bank who would "hold" or "service" the loan in-house. Good Luck

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