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David Webber's Answers

How much will i save in interest in a 15 year mortgage? Is that a good option?
Typically a 15 year loan is not as risky by any means. give me a call can help. 214-771-8696
Loan Contingency Removal Question
It sounds difficult but really is not. Whoever your lender is needs to step up and provide you with a writting approval with any conditions. In addition, a contract that has just 17 days to fund is not realistic, unless paying with cash. All though it can be done too many things can be overlooked and can...
ARM vs FRM----advice needed!
Lets just say that a 10 year arm will give you the most daily cash to play with scenario. The lower the payment the lower the output required. Principal in any case unless you out right pay down is the last to recieve much in the beginning of any loan. We all know that cash is "king" as longs as it does...
Will my student loans lower the amount I am pre-aproved for?
In a short answer, Yes. Because you are measured on your ability and perpensity to pay back any loan, many investors have extended guidelines that are called overlays. While most student loans and student assistance programs are backed by the federal sytstem, one day you will be paying them back and...
USDA Loans Eligibility
The home under the USDA program is only half the battle. You can apply to become a permanent resident alien. Once that status has been met, you would only need to qualify per the lender guidelines. Happy Hunting!
Can I refinance if I am relocating?
That depends on if you are still on the note and you are married. FHA allows for assumptions of financing. If it is deemed your primary then it is until you change. Most lenders will want you to take the home off of the market before you re-finance. Good luck
Anything I can do besides sell my house?
I can help, give me a call I am out of Dallas Texas, David 214-771-8696
Will mortgage rates continue to go down?
I believe all mortgage rates will increase based on the current trends the rates over the last few quarters. I am not saying that they will go up a full point this year. However it is possible simply due to all of the goverment backed securities in the secondary market. The ones you and me pay for to keep the...
How can an appraisal hurt your options at refinancing?
Appraisals are opinions with market facts. They can only justify the value of the home. Underwriters have to use the appraisal as a underlying guide should the asset go into default. It is important that there are several elements in any mortgage transaction and they have to line up with the stars and the...
Are there any programs available for First Time Home Buyers that are government workers?
You should qualify for many programs. Ask your friends who they have used in the past to help them with their mortgage. Loan Originators want to help you in any way they can, so do not be afraid to ask.Cheers!
When can I get another mortgage?
You have three years after your foreclosure before you can apply for an FHA loan. good luck!
Asked to pay points with good credit, is this right?
Rates can be lowered by paying discount. If the offered rate has no origination or discount it is considered par. Therefore to go below what the lender's published rates it is possible to buy down the rate. Usually the cost is 1% of the loan amount for every .25 reduction in rate. So I would do as much...
Refinancing without PMI
One of the best chances to get a bonus after you relieve the PMI your after is to contact your current mortgage company and determine if there is any overage in your escrow account. Simply ask for it and they will send you a check right away. I am sure I can help. 214-771-8696 Dave
Need help on investment/new home question
Daniel, There is no safe bet, however being a tech graduate I have seen the housing industry go up and down. Right now it is on a swoop up and should hold prices. My theory with all investments retirement or such is that you base it around your long term goals. Rates are hovering 4% so with that said it is all...
Looking to get a new VA home loan
Yes you can use your benefits. Please call me to discuss. David Webber - North Star Bank 214-771-8696
Is short sale the only way for me to move into another home quickly?
My advice is that you use the home that you want to move out as an investment rental allowing your renter to pay your note and you should have a real nice tax benefit. Depending on the program and your outstanding debt you may have to include the PITI until you file the rental expenses on your taxes to offset...
FICO credit score of 729, can I get a good rate on a new mortgage?
I believe I can help. At North Star Bank we specialize in all of the parameters of lending. Just give us a call. David Webber 214-771-8696.
Here is my I do not owe anything on my home,but there was no where to put that down
call me I will help you. David Webber 214-771-8696 anytime.
Do I need to be included in the refinancing loan if our taxes are filled jointly but the house was purchased by my husband?
It is possible for you to be added to the financing to establish credit depending on your situation. Call me I am sure I can help. David Webber 214-771-8696
Texas A6 law: Cash-out loan and other refinance options
Once an A6 always a A6. No more than 80% of Value loan total and capped at 3% for total fees... I can help you. Call me Dave 214-771-8696.

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