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Ken Graczak's Answers

Can we qualify for an FHA loan with 593 and 680 credit scores?
I have a couple lenders that will go down to 580 on the FHA. They will need to look at the total picture before they give an answer. This will require us to put together a full application and get the required documents needed to get an underwriter approval. The cool part with this is you will know for sure that...
Upgrading my home, whats the best investment route?
I like Dan's advice. I have clients with their homes paid off coming to me looking to take cash out. Rates are low, so money is cheap right now.
Can we qualify for a mortgage?
Hi Nicole,I am a local mortgage broker. I would love to sit down with you and figure out how to get you a home. I work in St. Louis Park. My website is Feel free to contact me.Ken - 184394
i make 25k and have a 740 credit score can I buy a house
There are a lot more factors that go into play with buying a home than just credit and income. I would reach out to a local mortgage broker and ask questions.
my lender just told me new rules to the harp program are if 2 people are currently on the mortgage, co-borrowers can't be removed?
If you can take the co-borrower off the title and the loan you can remove them from the loan with the HARP loan.
Am I able to find a lender with only a one year employment?
I am a mortgage broker and can get creative. I do have lenders that can do this. I am in Minneapolis and would love to talk. Let me know what I can do to help a local Minnesotan.
Will I have to pay FHA PMI for the duration of the loan if I refinance now that the rules have changed?
If you go here - you will see the actual mortgagee letter with the changes. Some lenders are requiring the changes earlier than others. I am a broker and as long as your FHA case number is assigned on or before May 31, 2013 you should be...
Are FHA loans still a good option for first time home buyers now that PMI charges last the whole loan lifetime?
FHA is still a great option for someone receiving a give for down payment or for someone that has not so perfect credit. There are several alternative options for folks with good credit and at least 3% down. Give me a call if you want to know all your options. Ken Graczak - 612-516-5626
Can you refi with upside down home but no Freddie and Fannie?
You can refinance if your current lender will do a short payoff. Not many lenders will do this, but you might get lucky. Call me if you want more information. 612-516-5626
lowest rate for 710 credit score and 10% down
The problem with this question you are asking is that you expose yourself to huge risk. If I was a desperate Loan Officer and needed to get the business to keep my doors open, I might offer you the lowest rate in town. Do you really want a desperate loan officer working on a huge financial transaction for...

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