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Don McCarty's Answers

How much cash-out can I get in a refinance?
A way to make a refinance work for you is to refinance for more than the balance remaining on your old mortgage -- in effect, tapping your home equity, or "cashing out," in mortgage speak. Thanks to favorable rates, you may be able to do so without boosting your monthly outlay. For example, at 8...
Interested in an FHA home loan, do I qualify with a credit score of 747?
As long as your FICO score is in line with how well you are managing your other finances, you should be good to go. In addition to what John said,the down payment for an FHA mortgage can be 100% gift funds. This is one of the key benefits to the FHA program. Verification of the source of gift money is not...
I have a middle FICO credit score of 671, what are some rates I can get for a new home mortgage?
When you're making your decision, there are several things to keep in mind. If your current interest rate is significantly higher than today's lowest rates, you may be able to roll your loan costs into the loan and still get a lower rate than you have today, thereby reducing your interest...
Currently looking to refinance a home, where do I begin?
Consider Other Mortgage ProgramsIf you are thinking about refinancing your mortgage, you might want to consider other types of mortgages. For example, you might want to look into a 15-year fixed rate mortgage. In this plan, your mortgage payments are somewhat higher than a longer-term loan, but you...
Can I refinance into a lower rate with bad credit?
Something else to consider when Deciding to Refinance. Traditionally, the decision on whether or not to refinance has meant balancing the savings of a lower monthly payment against the costs of refinancing. But in recent years, companies have introduced "no cost" and low cost...
What rates are available to me for a home refinance?
Paying Points for a Lower Rate. In refinancing, a mortgage company usually offers a range of interest rates at different amounts of points. A point equals one percent of the loan amount. For example, three points on a $100,000 mortgage loan would add $3,000 to the refinancing charges. Analyzing various...
How much does a co-signer affect my mortgage?
Sounds like this may be your first home. I've included some other information for you as well.Several Factors Affect Your Mortgage RateThe amount of your loan can increase your interest rate if the amount financed exceeds the conforming loan limits established by Fannie Mae and Freddie Mac. The...
Can I get cash-out with a new home loan?
If you found a house on a short sale, you could end up with positive cash flow off the deal.
Paid off DMP. How long do you wait before applying for loan?
Email me with more information at - Do you have a house in mind?Don McCartyAmerican Finance Group(919) 633-7505
FICO 570, Can I get mortgage on a home worth 45,000?
Email me at or call me at (919) 633-7505. I'll run your numbers.
How can I help my chances of selling?
Feel free to contact Don McCarty w/American Finance Group. We can get you an answer ASAP. (919) 633-7505. email:

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