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Hans Bruhner's Answers

My 7-yr fixed resets next sept (2010), but should i refi now?
You say that you want another 5/1 Arm because you are leaving within 5 years, should you still do it? The answer is YES! The biggest challenge that you may have is the numbers you mentioned. You say $560k first mortgage and rolling in the $95k 2nd and that makes even more senes to do it now if you are in a high...
does the VA have a reverse mortgage program ?
We handle reverse mortgages in CA if you need to look into that option. I can be reached at (866) 385-1670 x 1
do you do manufacture homes and land
I don't do them at my company. These loans are harder to place but the company that makes the home you are looking at may help. If the home was built to IRC standards and is in fact a modular home you will have more options down the line for financing but if it is a manufactured home then your options will always...
Can i use my mother as a co-signer on my va home loan?
The answer is basically no. If your mother was going to live in the house with you and she is a veteran herself then she could co-sign. A spouse does not need to be a veteran but any other co-signer would need to be.
How to determine home value without appraisal
I would call your favorite Realtor to help you determine a value range. A good Realtor will want the relationship with you and be willing to help even if you are trying to get a value for a refinance. Tell them what it is for so you do not get their hopes up that they might get a listing to sell.
What is the maximum allowable seller contribution on conventional loan in Texas 2014
The maximum allowable contribution from the seller (and/or Realtor) depends on the down payment and occupancy. The rules I am quoting are Federal rules for a Fannie Mae conventional loan:For an owner occupied or second home with less than 10% down the max contribution is 3% of the lesser of the sales...
Is refinancing a 6% mortgage that has 19 years remaining into a 30 year at 4.5% and taking cash out to pay credit cards and have a good down payment on a car a good idea?
You need a good mortgage planner to give you some ideas and then discuss with a financial planner. There is no "one size fits all" answer for this. There are way too many variables. I am a mortgage planner in CA and my phone number is (415) 843-0142
mortgage calculator with tax and insurance
I am your local mortgage pro right here in the Bay Area and I can tell you that in California you can estimate taxes for sure and you can get a quote from an insurance agent as well. Since we have proposition 13 to regulate property taxes in CA we know that taxes will be exactly 1% of the value at the time of...
What amount can a seller pay toward buyers closing costs? 95% conventional. Recurring and non recurring. Owner occupied.
Everyone's answers so far are correct at 3%. The 2nd part to your question has not been answered. Most lenders do not differentiate between recurring and non-recurring fees so the 3% can go towards both.The mortgage industry spent years training Realtors to separate out and make sure we say the credit...
Can a USDA appraisal be used to close a conventional loan?
It should be able to be converted at a cost as long as you are staying with the same lender. Appraisals generally can't be transferred from one lender to another. We do it all the time when we keep the loan in house.
What percentage would you loan to a 64 year old with a house valued at $110,000 and owes nothing?
Steven's answer is correct for a regular mortgage but your question gives me almost enough information to answer how much we could give you on a reverse mortgage. I would just need to have a zip code in CA and I could tell you. If you are looking for a reverse mortgage in CA, call me or look at www...
My mother did a modification recently and needs to know if she'll be able to get either a secured loan/HELOC next year.
Many lenders look at a loan modification the same way they look at a short sale. It actually makes sense, in both situations the lender has agreed to take less. In a modification they have agreed to take a lower interest rate or less principal or both.
What mortgage interest rate woudl be appropriate for a credit score of 718
That is not enough information and there are a lot of other factors AND the small print needed to quote a rate here would choke a horse. Let me just say that you are at or near the top of the heap when getting a rate quote. Quotes are based on LTV, property type, cash out or no, purchase, loan size, loan type...... but...
can we convert an fha loan to investment property?
FHA loans need to be a primary residence when you get the loan. As with all owner occupied loans, you agree to live in the home for a year and after that, it is no problem. If you have special circumstances before a year then you would simply communicate that to your lender and let them know and you should be OK...
It may or may not make sense. You need a total cost analysis with projections out mid term and longer term. You also may want a 15 year fixed which is a much more effective loan for you the consumer. I am happy to do that for you, it is what I do for all of my clients and when it doesn't make sense it is obvious and the...

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