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Karen Mansfield's Answers

Qualifying for Homepath loan w/foreclosure in credit history
Hello ijnova, You have obviously done your homework and know that you will be able to purchase a home sooner with a larger down payment. However, you'll have to wait for a full two years after your foreclosure before you can purchase with 20% down on a conventional loan program. Homepath is a...
HARP refi help
That is a risky loan and many investors are opting not to do the HARP loans on investment properties. In addition, many lenders are capping the loan to value on loans outside of their own portfolio. Your best bet is working with your current lender. Hopefully, they are originating loans. Best of luck! ...
Can my parents purchase a home on their street and I live in it and make the mortgage payments?
Hi Lacy, unfortunately your parents would have to purchase the property as investment property with the 20% down payment. The only way around this is if the home happens to be a Fannie Mae REO. Please give me a call at 707-363-3689, if you'd like to find out if the property is Fannie Mae. Karen...
Stated Income Loans
Are you sure that you need a stated income loan? What is your adjusted gross income per your 1040s?
Refinance without HARP
Hello, it would be helpful to know how much you own against your property to determine the best course of action for you. It may be FHA and it could be conventional. Please feel free to call me for a discussion regarding your options. Karen Mansfield 925-849-1818 or 707-363-3689
Refinance Question
Hello Ryan, yes this home can be refinanced, but I would need more information about the value and your loan amount. Please call me at 707-363-3689 and I would be happy to go over the details with you.
do i do VA streamline in this case?
You would need to qualify for a conventional mortgage. In order to qualify for a VA loan, you must be a veteran or a surviving spouse of a deceased veteran. Please call me at 707-363-3689 for more details.

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