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Christopher Stancato's Answers

Washington Mortgage Law?
No, you do not. If you need to use the income from her job to qualify then you will. If you qualify with your own income and you are going to use conventional financing you will be fine just with your credit and have her on title. FHA is different. VA you will need to qualify with her debt and her credit situation,...
Underwriting Times
No. If you are going through a bank sometimes they are very slow. It should take less than 30 days. If you have any questions, give us a call. Take care,Kyle StancatoOwnerbayviewhomeloans@msn.com253-460-6000
Should I Shop Around
Yes! I use to work for a bank and the rates were up to 1/2% higher which is huge! The second most important thing is the fees they are charging you for your rate or loan. I am a broker and have no employees and little overhead, so it allows me do charge less and offer superior rates and service. It will be one of...
Hello, we are currently looking to by a home. The home needs some updates but, we are being told that the lender (s) no longer allow for repair credits by the seller at closing? This is something new. How do you get new carpet or replace out dated forms after closing?
Depending on the amount of the repairs and what they are this can be done. Since the market has alot of inventory where the majority of the houses on the market are foreclosures with work to be done the banks have programs to help. Give me a call and I can help you out. Take care,Kyle...
appraisal of home
If you are not taking cash out and it is a fannie mae or freddie mac loan there is a strong possiblity you dont need to waste the time or $ on an appraisal. Let me know if you have questions,Kyle StancatoBayview Home Loans253-460-6000
Refinance Or Not?
If you did it with no fees it would make sense because you are not increasing your loan balance and getting a lower rate. Let me know if you want to know how to do this. Take care,Kyle StancatoBayview Home Loans253-460-6000
Is it legal for a home seller to pay my closing cost?
Yes. They can pay all or part of your closing costs and pre-paid items. If you have questions give me a call. Take care,Kyle StancatoBayview Home Loans253-460-6000
Is it possible to refinance a second mortgage that has been an interest only without affecting the first mortgage?
BECU or Key bank will do the 2nd's with no fees and you have the option to locking it at a low fixed rate at any time with no fee. I could look at refinancing the 1st and 2nd together, but only if it would benefit you. Take care,Kyle StancatoBayview Home Loans253-460-6000
Is a loan modification as bad as a foreclosure on my credit? If so, should I even bother. My lender is not being cooperative at all and I am late on payment.
It depends if you have equity in the home. If you do, you should sell. If you dont, but you want to stay at the home I would talk to a bankruptcy attorney and have them talk to you about your options. Now that you are late on your mortgage your credit scores will drop fast. Once you have been late for 4 months in a row...
Anyone have any experiance?
My name is Kyle and I own Bayview home loans in Tacoma. Feel free to call if you have any questions!!
I hear about these different ratios when qualifying for a mortgage.
I looked at the other answers and they look good. If you need any other details, give me a shout. Kyle. Bayview Home Loans
Should I Pay Points?
See how much it is going to cost. EX: if you have a loan amount of $400,000 and they want to charge you 1.5 points(1.5% of the loan amount) that would be $6000 and it will save you $150 per month than that means it will save you about $1800 per year, that means it will take about 3.5 years to make it back before you...
Using my title as collateral for new loan
You could do a cash out refinance of your current condo and use that cash to buy the new condo or put money down on it. If the condo they are looking at is a Fannie Mae owned property you could put 10% down and have no PMI, no appraisal and buy it as an investment property for them and gain the right-offs. Hope...
Refinancing my home with 706 credit score
Yes you would benefit. I have an office in U.P. You possibly could switch to a 15 year fix and have the same payment. Let me know if I can help..I am local and I am the owner.Kyle Stancato
I own an underwater condo in CA, is it possible to refinance my Jumbo Loan?
It should be OK. Send me some more details if you get a chance. I am local here in Tacoma. Take care,Kyle StancatoOwner2534606000
Question on bank owned property
I am not quite understanding the question. If you want to speak more about it, please give me a call or an
Can I get an FHA streamline refinance even though I am unemployed? Credit score 720.
No...but once you have been back at work for 30 days you should be fine.Kyle Stancato
My credit score is 568 and my soon-to-be husband's is 572 is it possible for us to get a home loan?
It is Kyle here in Tacoma. I see plenty of great answers already. I had poor credit like yours myself and I was able to get it all the way to 680 in 6 months if you would like some help. Take care,Kyle StancatoBayview Home LoansMB 69374(253)460-6000(888)382-4050www.bayviewhomeloans.com10909 Portland...
How much do i save up to avoid PMI? Are there loan options available below 20% of the mortgage. Should i keep saving if i\'m around 15%
20% is normal, but they have several programs where they role the MI into your interest rate. Another words, if today the best rate was 3.875% on a 30 year fixed putting 20% down it might be 4.25% if you only put 15% down and 4.5% if you put only 10% down and 4.875% if you put only 5% down. It becomes part of your rate...

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