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Leanne Larson's Answers

first time home buyer, is a broker easier than dealing with a lender?
I am a Loan Officer and work for a lender. We also have the ability to broker a loan if needed. I feel that each have their own advantages. A lender will have more direct information on your loan status. A broker will sometimes offer more flexibility in qualifying and/or loan programs. Your primary focus as a...
My credit score is over 800. Any stated income or no doc lenders out there?
In Nevada, we cannot do a "stated income" or "no doc" mortgage loan with conventional financing (including FHA or VA). There were too many "bad loans" that were originated under these programs and that has led the way to the housing downfall. We must show that you...
800 Credit Rating - and can't buy a condo in Las Vegas?
Unfortunately, this is a common problem. We have many well qualified borrowers, but the collateral (property) is not qualified. There is a solution. Your Lender can ask to get the Condo approved by FHA. It's a lengthy process, but it can be done. Another alternative would be to consult your Realtor...
who can qualify for harp 2?
Hi Joey11,Great news - it doesn't matter how upside down you are to qualify for Harp 2.
Is there anyone who knows and can tell if the person acting as a Mortgage or Loan officer is a scam?
The National Registry for Loan Officers is here: The State of Nevada site is here: All Loan Officers must be registered and if they do not appear in the database or as an active agent, then they are not licensed. Please be...
Can I refinance with a score of 735 with little cash on hand
When refinancing, there are a few other things we look at as lenders - If you have any equity? If not, is your mortgage held by Fannie Mae or Freddie Mac? If so, you may qualify for a Harp 2.0 program where you can owe more than your home is worth.... If you have an FHA or VA Loan, you can do a streamline refinance...
FHA Mortgage Questions
Hi randy-7, you can contact any mortgage lender that offers FHA financing. There are 2 other programs that offer a lower down payment, VA if you're a Veteran....or Conventional financing with 3% down payment (we offer a standard 3% down program in addition ti Homepath n which is for specific...
How do I remove myself from a loan I co-signed?
Hi there, if you've co-signed for an FHA Loan, your father can contact your current lender and apply to assume the loan. He will have to qualify for the loan on his own and the good news is, it's very inexpensive and the term doesn't have to be 'redone"...he would take over the...
Who will lend in Nevada under Harp 2.0 when LTV maybe over 125%?
We do - W.J. Bradley Mortgage Capital LLC..if you're making your payments to Bank of America, Wells Fargo or Chase - they will too :)Thanks,
we sold our house in march 2012. we are now renting. we had 3 late payments on mortage. is it possible to get a fha/ 203K loan ? o
It may be possible to get an FHA 203K loan, but would need more details. Please call me and I'll be glad to go over your options (702) 378-1862. Thanks!
Can I qualify for HARP 2.0 with foriegn income?
If you claim it on taxes filed in the U.S. as W-2/Ordinary income, then it should be able to be used in qualifying. If you claim it as a "Foreign Tax" Income, that can be an issue.
can we still get an fha with 3.5% down or has is gone to 5%?
Hi There, it's still 3.50% down payment...though FHA has recently lowered the amount they are lending in some areas - for example in Las Vegas, we could go up to $400,000 (+ Up Front FHA Mortgage Premium).and now for FHA Case #'s pulled after 1/1/14 it will be $287,500 (+ Up Front FHA Mortgage Premium).
do i need to get pre approved and prequalified before i apply for a loan?
Hi - Besides a down payment and credit score, there are other factors for qualifying including income, debts, credit history, etc. so I would recommend you get pre-approved as soon as possible to find the loan program that will not only qualify for, but meet your financial goals as well (For example: ...
which programs do 100% financing for first time mortgage borrowers?
There are quite a few. If you live near Las Vegas, you can contact the "Financial Guidance Center" (formerly known as Consumer Credit Counseling Service) at (702) 364-0344. They are a non-profit agency that helps homeowners with "Down Payment Assistance" programs. They will also be able to refer you...
Getting FHA cashout refi with 80% LTV
Hi There,For an FHA cash out refinance, you can actually go up to an 85% Loan vs. Value...but you will have the Up Front Mortgage Insurance Premium as well as a Monthly Mortgage Insurance factored into your payment.You may be better off pursuing a Conventional cash out refinance up to 80%. That way you would...
can i use HARP on a VA loan?
VA does work if you're underwater with a VA Interest Rate Reduction Refinance Loan (VA IRRRL) - no appraisal will be required. Some lenders will run an "AVM" - Automated Valuation Model - report to determine the amount the home is under current value as they may have certain additional requirements...
I work in healthcare, and am looking for a loan, but I read somewhere that I may be limited to certain areas for the healthcare provider loan?
There are some Down Payment Assistance programs that limit you to certain areas to qualify - for Example Nevada Rural Home At Last. There are several down payment assistance programs that do not restrict where you purchase at all. Best to meet with a lender so they can go over your options :).
Looking for a loan on a manufactured home
There are many options for financing a manufactured home (including those that offer down payment assistance) - provided it has been converted to "Real Property".

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