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Jarrod McOmie's Answers

need a home loan asp
Lisa,My name is Jarrod McOmie with SecurityNational Mortgage Company. I would be happy to help you with any questions you have about your home loan. SecurityNational Mortgage Company prides themselves in consistently funding loans on time as promised. We continually fund loans that many other...
Where can I look up a broker's NMLS?
Go to this link: If you need any help please don't hesitate to email me at: I routinely fund loans that others can't.
how to get help refinance my home with upside mortgage an not backed by freddy mac or fanniee mae
Are you sure you are still in a negative equity situation? Many areas have seen significant increases in home values over the past several months. It would be a good idea to contact a Real Estate Agent in your area to see what your home would sell for currently. You might be surprised! If you find out that...
Will past bankruptcy make my rate higher
Since it has been 4 years, the Chapter 7 will not exclude you from obtaining a new mortgage loan. Generally the lenders will want to see that you have reestablished a few tradelines that are in good standing. Also, one key thing that the lender will look at is if you have had any derogatory tradelines since...
What are some non fannie mae mortgage refinance options for people who are upside down?
James, My name is Jarrod McOmie with SecurityNational Mortgage Company. Are you sure that you are upside down? With the recent uptick in home values I have seen several individuals that thought that they were upside down, when in fact they are now in a positive equity situation. I would recommend...
Can i get a conventional home loan with a 650 credit score?
You should have no problem qualifying for a Conventional loan with a 650 credit score. As long as you meet any/all other Underwriting Guidelines, you will be fine. Best of luck!
can I refinance and get a heloc all within 2 years time?
The short answer is that you can refinance and get a HELOC with 2 years. The main thing that your lender will look at is what your total loan to value ratio will be. As long as you meet the lenders guidelines, you should be fine! Best of luck, if you need a gread lender - I am your man!!! Call me at: 801-750-3998,...
Is there an advantage to "floating" my rate at this point before locking
The safe bet is always to lock in if you are happy with the rate/terms that your lender gives you. That being said, you will want you Lender to pay close attention to what is going on in the market. Generally speaking when bad news hits the stock market, our rates generally go down. Conversely, when...
What are the costs associated to convert an FHA loan to a conventional loan?
Unfortunately you cannot "convert" an FHA loan into a Conventional. However, you can refinance your current FHA loan into a Conventional. This is a very popular thing to do right now since Interest rates are still relatively low and with the uptick home values, homeowners are able to refinance and at...
Which is more accurate? internet comps of drive-by comps?
You will want to make sure that the comparables are of actual sales and that the Appraiser did a full inspection of the property. There are external only appraisals that may not indicate an accurate assessment of value. In these cases, the Appraiser will compare the subject property (externally only)...
Are piggy back loans better if you rollover payment when paid off?
I would be happy to answer your question, however I will need more information. Please provide me with any additional details that you have and I would be more than happy to help. Have a great day!
Should i be preapproved (or prequalified - not sure what the diff is) before visiting open houses
It is definitely a good idea to know what you are approved for before beginning to look at homes. Make sure to work with a lender that does a full preapproval. This means that they have collected all of your supporting documentation (paystubs, bank statements, taxes, etc) and pull your credit, as well as...
How long do hecms normally take to close?
You should expect to close within 30 days. This is typical as long as you have taken the approved counseling and supplied all of the necessary documentation in a timely manner.
Can I purchase an investment duplex with 10% down and a credit score of 835?
You are able to purchase a duplex with as little as 3.5% down payment. This would require you to be an owner occupant on an FHA loan. There are several loan products that could fit your needs and we would want to look at your overall wants/needs to better assess what loan would fit your needs best. Best of luck!
can i get preapproved online anywhere
Yes, it is always a good idea to check the Better Business Bureau and/or check references from the lender that you are getting the online preapproval from. You want to make sure that you are working with a well respected professional in your area.
Is it legal to have to pay mortgage insurance for the life of the loan?
Unfortunately it is not only legal, FHA requires it for loans with high loan to value ratios. If you are concerned about having Mortgage Insurance for the life of the loan, look into a Conventional loan. Generally, you are able to remove the MI once you have reached 80% LTV. Best of luck!
Please read the article at the link provided. This should help.
What is the credit score needed for a conventional mortgage in 2014?
You are able to get up to a 95% LTV Conventional loan with a minimum FICO score of 620.
Dear lender411 what interest rate can i get on a home loan with a 640 score?
There are several variables that we need to consider. Your credit is one of them, however you will need to take a full application so that the Lender can fully understand your situation and what rate they can offer. Good Luck!

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