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Jericho Cherry's Answers

I own a 500k home free and clear. I have very poor credit, 580. Can I get a small home equity loan?
You cannot get a home equity loan with a score that low. However there may be other options.Call me and we will discuss them. Jericho Cherry 804-556-0685.
Can I purchase a home with FHA or VA and get funds to add on an inground pool?
Fha allowed monies but only for rehabs. I am a Branch Manager located in Va. Give me a call if you need any additional information. Jericho Cherry 804-556-0685.
Can I get a mortgage with a settlement form a bar fight against me?
Good morning, If it does not show up on your credit it should not be a problem.
Is it better to pay off a loan quickly or make standard payments?
It depends on what you are trying to accomplish. I need more information. Please call me at 804-556-0685 or email me at
How big of a down payment do I need to put forth to get the best rates on a conventional loan?
My advice is to put down at least 20% to avoid monthly PMI. Of course the lower the loan to to value will make a difference in the rate.I am a licensed Mortgage Branch Manager here in the state Virginia so call me or email me and we can discuss it in more detail. 804-556-0685.
What are my options to get a cash out on commercial property
You should not have any problems qualifying. Need more information. Contact me at
What additional factors does APR consider? Should I use APR as a basis for comparison of lender offers?
APR should not be a factor for comparing different lenders. William sumed it up very well. I am a Branch Manager here in Virginia and would love to help you with any additional questions or needs. Please call me. Jericho Cherry - 804-556-0685, or email me at
Home loan
No, not possible at all.
Should I get prequalified or is it unnecessary?
Yes, you should get prequalified if you are trying to purchase a home. Most realtors will not work with you unless you are prequalified first.
Is it better to fix up a home before selling it or sell it as is?
It depends on what repairs need to be done. I am licensed in the state of Virginia and I can help, but I need more information. Please feel free to call me at any time. Jericho Cherry - 804-556-0685, or email me.
do you know of a lender that handles va construction loans
Yes, I do know lenders that will do VA construction loans. I can help you get started. Just call me at 804-556-0685, or email me at:
Can down payment be a gift from family for FHA?
Yes it can. Check with a lender in your area for all the details.
Is there absolutely no way to waive PMI for an FHA Loan anymore?
Sorry my friend but there is no way of getting around paying PMI on FHA Loans. But there are other alternatives such as the ones that have already been stated. I am Branch Manager close to your area. Feel free to email me at:, or call me at 804-556-0685.
Can I get a HUD loan if I have no down payment?
Yes, gift funds and down payment assistance funds are allowable.
Can we refi from conventional to VA?
Yes, as long as the borrower is eligible and meet all the requirements for a VA loan.
i i have just recently came out of bankruptcy and need a heloc loan will i be able to get one
Not this soon. There is a waiting period. How long a waiting period depends on the type of bankruptcy.
Do disabled veterans get any discount on their mortgages?
Yes, there are additional benefits for disabled veterans. Contact the person above who is licensed for your state.
how can i buy a house for someone as a gift
There are several different approaches that you can use to accomplish this. I am a license branch manager/loan officer in your area. Call me at 804-556-0685 or email me at, and we can discuss the different scenarios. o
FHA or conventional
FHA allows you to purchase a home with as little as 3.5% down. But you will have to pay a monthly PMI. Conventional at 80% LTV, no monthly PMI. if you need more information email me at:

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