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Timothy Gray's Answers

What kind of 5/1 rates are out there? Our loan is jumbo about 630K. Tell me if there are any points also.
Hi there,Our 5/1 ARM for your loan amount start at 4.375% today. There is NO prepayment penalties and your payment is always principle and interest.Call me to review your refinance scenario and receive a no obligation Good Faith Estimate to review.
Reset of my ARM loan in Sept 2010
Jon,Your interest rate at the time of adjustment will be the product of two items; the index and the margin assigned to your loan. Take a moment to review the index and margin assigned to your loan; both evident on your mortgage note. You can call your mortgage lender/servicer or look on your mortgage...
Can I refi a FHA Loan without being a primary resident of the property?
You may refinance your FHA loan if it is no longer your primary residence. You may be able to streamline the refinance to minimize documentation that requires no appraisal- saving you money and time.Call me to review this option and the very low interest rates available for this loan program at this...
Can i use an FHA loan to purchase a home if i rent out my first home?
Yes, you may use a FHA loan to purchase another home. We will be asked to explain your motivation for the move and explain the new purchase will be your primary/principal residence.Let me know when we can help you get started.Kindly,Tim GrayMortgage Alliance Group619 283-4000 x...
Is Refinance Possible with a hight LTV?
To be eligible for the Fannie Mae HARP 2.0 program that we'd need to use for your unique situation we would first need to confirm that you loan was sold to Fannie Mae prior to May 31st, 2009. The program does require that we qualify with full documentation of your income and even if the appraisal is...
I own an underwater condo in CA, is it possible to refinance my Jumbo Loan?
If your jumbo loan meets the jumbo confirming limit for the county it is in and the loan is owned by Fannie Mae, Freddie Mac, FHA or VA then you will have options. I welcome the opportunity to review your loan options and invite you to contact me directly at or call at 888...
do u know anyone n st joesph mo
I'm sorry, I don't know anyone in MO. I might suggest contacting your new employer and asking for a referral. Good Luck.
How much would i qualify for a home loan?
Great job with your credit scores! You're likely eligible for first time home buyer programs that provide for 100% financing, No money down. These programs allow you to invest the money you've been saving or use it to outfit your new home. We have all these programs and more. Call me when you can, 619...
I share heir property with my uncle. I want to get a loan. There is no mortgage on this property.
How long have you been on title? Will your uncle be on the loan with you? We're a local CA lender and happy to get you answers to your questions. Let me know if I can help.
Refinancing During High Rates
Good afternoon. A new loan that allows for an interest only payment will help keep you payment down. You can always pay more than the minimum interest only payment and expect that following month will require a lower interest only payment as you pay down the principal amount of the loan. This type of...
Hard Time Qualifying
Do you have other monthly debt liabilities that you can restructure and lower the amount you owe each month? Lowering your debt will increase your qualifying income and expand your purchasing power. Please let me know if there is anything I can do to help.Kindly, Tim Gray 619 807-5854
my dti is killing me. can i add unverifiable income (proceeds from marijuana sales) in California?
I'm unaware of any lenders offering loans using unverifiable income to qualify but there are different methods to verify your income- Bank Statements is a method growing in popularity. You can reach me directly at 619 807-5854 and we can review your options. Kindly, Timothy Gray @ Mortgage Alliance...

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