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Ignacio L Taboada's Answers

Georgia FHA Loans below 620
We Have investors that will accept FHA below 640 typically it requires manual underwriting you have to be patient your other option is to analyze your credit score to see if we can improve it to 640 we have tools to improve your scoreIf you have any other questions you can visit me at www.pgmrtg.comwe can...
Prequalified vs Preapproved... What's the difference?
If you really want to know if you are going to be able to purcahse your home without surprises.You need to get an approval from an underwriter that is the only way to be 100% sure
30 year FRM or 5/5 ARM? Which is better?
Hi DanielIf you are go to live in the house more than 5 years take the 30 year fixed rates are too good to let them passLet me know if you need another estimateRegards
Refinance my ARM now or later?
Rates for an investment property are higher than residential if you are going to keep the house long term you should go ahead and refinance you can probably get 4.5 rateIf you want I can send you an estimate in the morningRegards
Are all closing costs around the same amount?
Closing cost are not the same.some of them are fixed regardless of the loan amount such us attorneys fees,underwriting fees, etc.others are variable such us origiantion fee, Title insurance and transfer taxes.With a rate of 4% your closing should range bewteen 0.5% to 1% of your loan amount.For more...
Should I refinance for 30 yrs or 25 yrs
If you can qualify and you can afford the payment you should go to 20 Years.In order to give you an accurate you will need to call me because of the credit score.If you can qualify under special refinance programs your rate for a 20 years could be as low as 4.25%If not take the 30 year rate.
Credit score of 713, can I buy a new home?
You should not have any problem qualifying for a loan of $185,000.Your best option as a first time home buyer is to get and fha loan with 3.5% down payment.If you have any questions feel free to give me a call. 40-4-697-7952
Refi to lower rate?
depends on your loan amount if you have a loan amount of $200,000 at 5.25% your P & I payment is $1,1104 if you want to pay it in 15 year you will have to increase your payment to $1607 aproximately.if you get a new loan today 15 year at 3.25% yor payment will be $1405 you are better off refinancing.if you have...
What refinance rate can I get with my credit?
you should be able too.If you are getting quotes remember that some quotes include all closing cost and some do not.Give us a call if you need additonal information.You should be able to shop for with diffetrent mortgage companies in the mortgage rates section fro Georgia at Lender 411 look for local...
Why cant I have 2 conventional loans?
If you are moving to another state it sould not be an issue to have two conventiona loans.The issue could be wheter you qualify with both payments.If you rent your existing home you will not be able to use the rent to offset your income you have to qualify with both payments.If you have any more questions you...
Should I refinance with my husband on the loan?
You should probanbly refinance bu yourself before you buy the car.You may want to consider FHA to refinance to get the lower rate because of your credit score.If you have any quetions you can reach me at
Harp 2.0 Refinance with High LTV - Atlanta
Unfortunately just because the government created the program does not means that investors will do the loans.Mostt Banks will ony refinance the loans that they are servicing what it means is that they have less competition so they can charge whatever the want.There was a very good article in the wall...
rebuttal letter advice
If you have some recent sales in your subdivision that were not included or they were some errors in the size of your house,etc you should include that in the letter if not you are probably wasting your time.Have you check to see if your loan qualifies for Harp.If you have any other questions you can reach...
Is there a way to include home improvements in a conventional refinance?
The maximun Loan to value for cash out refinance is 80% of the value of the house.It depends of how much is the balance in your existing mortgage.If you have any other questiosn do not hesitate to call.
Are we considered self employed for mortgage qualification?
IF you own less that 25% you are not consider self employed.How you calculate the income is another issue it wil depend on your W-2 and K-1If you have any questions do not hesitate to call.Regards
can i refinance with bad credit?
If your loan is an FHA you may be able to do it under the streamline program.No lates in the mortgage in the last 12 months.
what are the best refinance options?
I need more information are you looking for conventional or FHA with or without closin costs You can reach me at itaboada@phoenixglobalmortgage.comRegards
How do I do a no-appraisal FHA Streamline refinance?
The main condition with an FHA streamline is that the new loan cannot exceed your outstanding principal.Most FHA streamline do not require an appraisal.If you have any questions you can reach me at

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