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Gene Neal's Answers

Is it worth it to get a longer mortage
It depends on what your goals are and what your current rate is. If you prefer I can show you some loan options that may fit within your goals.
Why will the VA loans not work on manufactured housing?
If you have a loan with Wells Fargo, then you can do a loan with a manufactured housing. Most institutions that handle those type of properties place them within a FHA loan.
What are your VA Rates
It depends on the loan amount and middle credit score. If your score is over a 620 I would say 4.625 to 4.75 on a 30 year and then about a 4.0% for a 15 Year. Jumbo rates are at about 4.75% for 30 year and about 4.5% for 15 year. Don't hold me to these rates just giving you a real world idea. WE would honestly need a full...
Reverse Mortgage Quick Question..
Yes, however you would have to take the other spouse off of the Mortgage. We can handle that at the closing table. The downside is that the spouse that is deeded off would have to refinance or sell property if they out live the spouse that has the reverse.
loan question---I have 800 FICO but am a business owner, can I get a loan?
It is possible to still qualify. By making a down payment of that size, I do have a lender that would approve you based off of completing a 1003. Contact me if still interested and I would work with you through the entire process.
What is considered a "good" credit score? True Credit says my score of 730 gets a grade C
That's a great score, you should be able to receive the best rates available. The score used is the one in the middle. So if you have a 735, a 713 and a 731 then the rate will be based off of the middle score which is 731.
How much is my house worth today?
There is no way to accurately receive your homes value without an appraisal. If you want to get an idea I would speak to a local real estate agent. However in order to have a concrete answer you must conduct an appraisal.
HELOC and Refinancing possible?
The main thing would be if the other bank accepts a subordination agreement. It may cost between $50 to $100 depending on your current bank.
Reverse mortgage information
It doesn't need to be paid off entirely first off. As far as distribution of funds they can be sent out as either a monthly or yearly and the limit is based upon your loan to value. With a little more information I can give you an idea of how much you would receive.
Bad credit
There are two possible options for you based off of your credit scores. You can either A. receive a FHA loan with the plus being the minimal amount down. The minus is the mandatory mortgage insurance for 5 years. The other option would be to increase the scores to 620 and then purchase a home path home. The plus...
Can private lenders legally decline a re-fi loan even as we meet all other requirements?
I am a local broker and would have the ability to help you accomplish your mission. Those institutions are having difficulty transferring PMI. I work directly with Wells Fargo and have seen their issues first hand. If you paid the upfront $500 to Quicken they should send you back a refund.
HARP 2.0 through current lender is a little more than $10k to close
Put on your shoes and run that rate is too high. If you're looking for an honest breakdown and best case scenario contact us.
HARP 2.0 without overlays?
Have you contacted a mortgage broker?
help with getting mortgage
I am located here in NY and I should be able to help you.
Will my credit score drop if I pay off the loan early?
Just confirm you don't have a pre-payment penalty but you should be okay. The main thing with credit is keeping your Ratio to Credit limit or RTC within 30%. So if your limit is $10,000 your balance needs to around $2,500 to$3,000 range.
home loan with 655 credit score?
Yes you should be able to qualify with no problems. You should also be able to avoid Mortgage Insurance with no problem. If you have any other questions or need information don't hesitate to reach out.
Buying a house but already on another mortgage
I would have your named removed from the deed. If you didn't you would be considered a 2nd home owner.
a recent new job overseas and foreign income not yet reported on tax return, any chance to get a refinance under harp 2.0?
Too be honest with you I think I can receive an approval on your loan situation. The main thing would be your letter of explanation detailing the source of income. If you have a letter or some statement showing your projected income that should be sufficient.
fha pmi
Your better off with going a conventional mortgage. If your score is below 620 I would say use a portion of your down payment to increase your scores. It would save you a substantial amount of money in the long run. Our organization has a free credit improvement program.
Can I Refi my primary-residence investment-property then keep it and buy a new primary-residence?
We are able to help with refinancing the primary residence. You would have to wait 12 months before purchasing the second property. I would say based off of the current lending environment it makes sense to take advantage of the rates while you can.

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