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Jason Wood's Answers

Stuck with an underwater mortgage, searching for options.....
I have witnessed so many loan mod attempts through friends and family go no where with BofA that it is a bit of a gamble. Certainly one worth pursuing, but I would only give it until the middle of this year and if nothing has happened then short sale it. Your credit doesn't get impacted as bad as...
Is there any advantages to VA vs. conventional loans? I have heard VA loans are harder to win a bidding war with.
There is no better loan than the VA loan. It doesn't require any down payment, does not have mortgage insurance, is assumable, and has typically lower interest rates than conventional loans. Often times 0.5% lower. It also has more flexible guidelines allowing for higher debt ratios. Having an...
Looking to relocate to Southern California - who can help or offer any tips?
For property tax savings San Diego County, to my knowledge, is less expensive than LA or Orange county. We offer great rates in all of California and offer an on-time closing guarantee. I'd be happy do discuss with you.Jason Wood619-296-5626 ext. 7007
Need help finding options to finance the purchase of a condo where developer still owns 4 of 18 units.
We do non-warrantable condos as well. If you would like to discuss more I'm also fairly close to you in N. San Diego County. Call Jason Wood at 760-217-0820.
do all lenders give you the same offer if approved
Not only do lenders offer different rates and fees, but more importantly lenders have differing underwriting guidelines. This ca affect whether or not you get approved for the loan you're seeking or even down to how much documentation you may have to supply for the same loan from lender to lender...
Yes the rules are the same for manufactured as they are with stick built single family residences. To my knowledge you'll only find FHA loans that will finance more than 80% of the home's value so finding a conventional loan that will come with mortgage insurance will be rare indeed.
purchasing a house when 1 hasn't sold
You could also do a concurrent close where you close on the sale of your existing home and the purchase of your new home basically at or near the same time (probably one closes one day the other closes the next). Would be happy to discuss further. Jason Wood 760-217-0820
How do we get a VA Construction Loan in Georgia? We found a lot, have good credit and are ready to go.
Technically there isn't a VA Construction Loan. While the VA will allow one they are only an insurer of the mortgage. Sort of like a state farm or geico. There is one company that is doing a construction-like VA loan but its only for renovations and is capped at $35,000. That company is iMortgage, but no one...
Can someone explain the IRRRL option? We have a VA loan, but don't want to be out of pocket in lender fees to save a few dollars on the mortgage.
Gary,This is a very simple no out of pocket refinance program. There's no appraisal and hardly any documentation. I am a Veteran and have specialized in VA loans for the lat 15 years. I'd be more than happy to assist you. Please give me a call at 760-217-0820 or email at www.mylenderjason...
What is the minimum amount that I can borrow?
We have a satellite office in Temecula and our main office is in Carlsbad. We certainly can help you with this and provide you with some sound advice as to the best way to proceed. Please call me at your earliest opportunity.Jason Wood 760-217-0820
I am on a repayment plan with my credit cards to try to improve my credit score. Should I try to get a loan now? Or do I have to wait until the plan is completed?
It's a little hard to answer without knowing the situation in detail, but generally speaking I'd wait until your further along with your repayment plan. The way the credit cards are reporting to the bureaus during this time period will have weight on things too. Depending on the loan type for your...
Lock today on a rate or wait?
If you are closing your loan within the next two - four weeks I would lock. If closing your loan in 4+ weeks then I'd wait. Rates may be better tomorrow.
I have a PHFA mortage, can I refinance
Yes you can refinance with another lender depending on when your late was. Most lenders have a rule that if that late was within the most recent 12 months you'll have to wait until there have been 12 on-time payments. With that being said I'd be happy to discuss more with you.Jason Wood760-217-0820www...
Can I use my VA benefit for vacation property?
I'm actually from Nevada and specialize in VA loans (Air Force Veteran myself). Brad is correct with the use of the VA loan; it can only be for primary occupancy and cannot be for vacation properties. With that said, I can also help you with your home purchase in FL as I'm licensed there. Call me to discuss...

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