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Colby Neal's Answers

Can I refi with LTV of 95%?
Yes. We can do a 97.75% LTV FHA refinance. If you have further questions feel free to call or email me!Colby Neal Tel: 866.996.8953 Ext 6104 Fax: 800.488.6185
im a young doctor just graduating medical school and moving down to Memphis this summer. Im looking to buy my first home as I will be down there for residency for 4 yrs. I will be earning $70,00/yr but have no nest egg as I have been in school. I wondering what my lowest down payment option is with regards to HFA loans. I looking at houses costing aprox $200,000 - $210,000. I have excellent credit and am wondering my chances of qualifying for the HFA.
StevenIt sounds like your in good shape for FHA's requirements. I will need to pull your credit to ensure you have a 630 FICO credit score or greater. My pre-approval amount will be based on your debt-to-income. As i do not have your informaiton on file please call or email me so i can over over a quick...
What gives better rate for VA loan?
Rates are determined by: 1. Credit Score. 2. Loan Amount (not down payment amount). For each $1,000 you put down it'll lower your monthly payment by about $5. Its not worth putting money down. - Guaranteed Low Rate Lending: | 866-282-2956 x 6104.
do you refinance manfactured homes on owned property with a perment foundation
Yes. The requirements are little bit more strict when its a manufactured property: 1) 640 credit score required2) $100,000 sales price / loan amount minimum3) structural engineer is required unless its a streamline refinance4) the property must be on a solid foundation, own the land, and the...
Do I need a different lender out of state?
We are a 50 state lender. You'll need a job acceptance letter and your first paystub in order to qualify and close on the purchase in Nebraska. Guaranteed Low Rate. | 866-282-2956 x6104
can I use funds from my boyfriend for a down payment or does it have to comes from me
Yes. Your BF will need to transfer the funds into your account and provide a papertrail of the transfer. I will also give you a 1 page GIFT form to fill out. ... Guaranteed Low Price. Email me for a free quote -
How do I get my name off mortgage since spouse won't sell and i do not qualify for refinance
The best you can do is a quit-claim-deed to remove yourself from the title. But your name is stuck on that mortgage until she or you refinance each other off. You'll need a 620 middle credit score. I have an awesome credit repair guy if you need credit help.
Financing a bathroom addition
If you have some equity in your home you could do a HELOC with your local check & savings bank. If you're interest rate is higher than 5.625% I would recommend doing a cash-out refinance. Many factors are involved to determine which financing route to take. 1) Credit score2) How long have you owned the...
Would a $500k property require a jumbo loan in Saco??
Anytime the loan amount is greater than $417,000 the financing is considered to be 'Jumbo' or Non-Confirming. Guaranteed Low Price Direct Lender here!
what can I use points towards - also i'm not exactly sure what a mortgage point is
You don't want point charged. Its an expense to you. Our bank does not charge points. In fact, our branch guarantees the lowest price mortgage. We're able to offer this incentive as a direct lender. apply only:
can i get preapproved online anywhere
Direct Lender, Guaranteed Low Price:
question about fha versus va loans
VA is going to offer the very best interest rate on the market. FHA, VA, USDA; they are each government loans with the same basic rate structure. Additional cash down will not help get a lower rate. Our branch will guarantee the lowest priced mortgage:
Can u put just 10 percent down on an investment property?
Investment property financing will require a 25% down
How long of employment history do i need to go conventional?
We need you to be with your current employer 30 days prior to closing. If you were a student at any point over the last 24 months that counts. You could have been unemployed for a period of time and still qualify. Overall all banks will review your last 2 years of W2, 1099, and/or tax returns (aka 1040s).
can i refi into VA mortgage with current FHA? boyfriend in USAF
Yes, definitely. Going into a VA vs. the current FHA mortgage is a smart investment. You'll get rid of the monthly MI charges. contact me or apply online free:
As a person with bad credit would I be able to get a foreclosure home?
If you have bad credit you will not be able to get pre-approved. I recommend credit repair until your scores are at a 620 or higher.
The clock restarts. I suggest reviewing an amortization schedule with your loan officer. You'll be able to see how much interest you'll pay on your current loan vs. proposed. I bet the proposed (loan amount depending) will save you more than $20,000 over the life of the loan. Guaranteed Low Price Direct...
what are the customary amounts that are charged for various expenses at closing in Kentucky?
$1,200 in banking fees, escrow of property taxes and home owners insurance + title expenses + state and recording expenses. Typically 3% of sales price. So you don't have to pay any closing costs your lender and realtor structure the purchase contract so that the seller covers the 3% in expenses. Its...
is quicken loans a direct lender?
They have fund using their own money and/or other investors. They are a direct lender to Fannie Mae; so yes. So are we. However, we can provide better rates due to lower overhead.

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