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Harry Newell's Answers

Second home mortgage with a rented out first home
Williams response is mostly on-point. However, you may want to look at other financial benefits of refinancing it if the interest rate for a new investment mortgage is lower than the rate you have on the current mortgage.I am not quite certain why he would suggest a local mortgage broker and not a bank....
Can I get a 4.0% Home refinance rate?
If you have served in the Military or National Guard you may qualify for a VA MORTGAGE. Evaluate the benefits of a VA Mortgage while during your due diligence.Harry Newell
What is PMI and what options are there to deal with it?
If you have served in the armed forces or national guard you may be eligilbe for a VA Mortgage. You can qualify for 100% financing with no monthly PMI.There is a VA funding fee which can be financed in the new loan or paid for with a lenders credit.
Credit score of 723, want to refinance my home
If you have served in the armed forces or national guard - you should check out the benefits of a VA mortgage. If you have a service connected disability of 10% or greater the VA funding fee would be waived.Harry Newell
No cost refinancing for my home, will I save money?
All good answers. Shop around for a good rate with the largest Lender Credit toward your closing costs and pre-paids. Your current balance will be the determining factor as to whether or not it would be beneficial to 1-855-QUOTE-RATE
Interested in an FHA home loan, do I qualify with a credit score of 747?
All responses below are correct. Shop around for an experienced mortgage originator at a director lender. Feel free to call 1-855-FHA-WVIRGINIA for a free mortgage quote. (855-342-9847)
Can I get a Home Equity Line of Credit with 30% free equity in the house?
First evaluate the financial benefits of refinancing your current mortgage. What rate do you currently have? Can you lower that rate and still receive cash out? Have you served in the armed forces or national guard? A VA Cash out refinance in most cases can go up to 90% of the homes value.If you have...
Should I refinance if moving in a few years?
My suggestion is not to go for the lowest rate since your intention is to only remain in your home for a few more years.You can lower your rate - but do a no closing cost refinance. You will benefit from the lower rate - but not increase your principal balance owed. Feel free to call me at 1-855-LENDER-411 ...
Should I get a no cost refinance?
Both of the answers below should help you save money. One reason to consider the shorter term is to build equity in your home. If you are comfortable with the current payment - take the 20 year loan - pay down the balance owed faster. Then when you do sell - you will have greater funds to purchase your new home. ...
are there fees attached to a loan modification
Your current lender or servicer is the best source to answer your question. Your loan will remain with them.
If I complete an hecm, will these funds be considered taxable income?
Good afternoon;The best answer to your question should come from your tax professional.Harry Newell
Dear lender411 what interest rate can i get on a home loan with a 640 score?
There are factors other than a credit score that go into quoting a rate: Loan Product: VA, Conventional, FHA, Jumbo, USDALoan Purpose: Purchase, Refinance, Cash-Out Refinance, Streamline FHA, VA IRRRLLoan Amount: Larger loans, up to a certain amount (ceiling) have a better rate. Loan amounts...
question about fha versus va loans
The FHA, VA and USDA each have low government rates. Each have an upfront mortgage insurance premium that is generally financed within the loan. However, the VA mortgage does not have monthly PMI whereas FHA and USDA do. So your best option is the VA mortgage. Additionally, the up-front VA funding fee can...
80/10/10 Jumbo in CA with BK 4.5 years ago.
1st questioni is Do you qualify for a VA mortgage?Millitary service, National Guard or reserves? This would be the best option.harry newell
social security number
feel free to call me at 1-855-QUOTE-RATE (855-786-8374) For a no hassle rate quote. I will not ask your date of birth - social or last name if you wish not to provide. It will be a quote based on the information you provide

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