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Will Zinn's Answers

If I refinance an FHA mortgage before the new PMI rules take effect, will I have to pay premiums for the life of the loan?
C, These folks are correct about pulling case numbers by June 3rd. The April 1st deadline only changed the monthly MI factor by 10 basis points. It's the June 3rd deadline that adds "lifetimeMI". What a ripoff.... I'f I were you I'd be looking non-FHA options. I've been...
Can I roll up my closing costs into an FHA loan?
You will have the choice between a "no appraisal" and a "with appraisal" loan. The "no appraisal" option will be better as long as your mortgage broker is willing to give you a huge lender credit to offset your closing costs. On that loan closing costs CANNOT be rolled...
What can HARP3 do for me?
I may be being cynical but I've never seen HARP help anyone. Their loans are either to recent or they're not Fannie Freddie loans but some shady Countrywide (or someone else) private equity loan. I've seen it over and over. Harp is for people who have lost equity due to market depreciation and not because...
I need a commercial loan on a single family home, self storage units and a warehouse, how do I get rates for this?
Call Ben Ketchen at Machias Savings (207) 288-8071 or (800) 339-3347. He can work magic....
Interested in an FHA streamline refi to lower my rates, is now a good time and are there any negatives i should know about?
Jason, there are positives and negatives you need to carefully look at. There might even be a possibility of moving you to a conventional loan to get rid of your mortgage insurance. Depending on your credit score they can be attractive down to as little as 5% equity. You can reach me at my office at 517-2207....
Applying for a loan but forced to change employment due to my company moving to another state
Give me a shout if you would like to discuss it but you should be fine. Just be aware that you will need 30 days of pay stubs. My company will allow you to start the process and send in the pay stubs just prior to closing.Will 207-671-8292
Looking for loan on an approved property - 8% down or lower
I have a conventional 5% down with lender paid mortgage insurance so you won't have a monthly MI payment. Give me a shout at 671-8292. Will
how much would I have to pay monthly in order to pay my mortgage off in 7 years
$940 a month in addition to what you're paying now will do it.
i am not from the US originally and am trying to buy a house
With 50% down I can get you financing regardless of credit or income. 207-671-8292
my spouse passed away five years ago, and he was the only name on the mortgage loan, but I am on the deed. I want to refinance
Shop rates and check references of recent clients of any lender you speak with Martha. My number is 207-517-2207
will lender check on me after preapproval
The pre-approval is usually just a document stating that you qualify for the loan. To answer your question....yes. Underwriting will look at it again to approve you and again prior to closing. If you think you might have an issue with this give me a call at 207-671-8292. Perhaps I can help
Does reverse mortgage allow immediate financing for assisted living need? Dad's house set up in living trust currently.
Will the assisted living take place in the home ? FYI...a reverse mortgage should be a last resort. There may be several better alternatives. Let me know if I can help.Will Zinn(207) 517-2207
When rates are this low, does an adjustable rate make sense? Are rates going to drop down even more? Please advise.
Adjustable rates can be tempting but the downside is that annoying sound you get when rates start to increase (which they will). The sound is kind of a high pitched buzz. It will come and go. The actual sound will be from grey hairs growing out of your ears caused by stress.
Do i have to disclose a home i own free and clear on loan application?
The below comments about needing the tax and insurance liability to get an accurate debt ratio are correct. But if that's the reason you don't want to disclose it than just get a tenant in there on a lease and use 75% (per guidelines) of the rent in your income. Fannie / Freddie / FHA did away with "departing...
We just want to lower our interest rate, which is presently you help us? We have a mfg home on a permanent foundation.
YES !!! That rate is way too high. You can call me at 207-671-8292 and I can let you know what lower rate you qualify for.Thank you.
How soon can I refi after purchasing a home?
It depends on what you're trying to do and what value you want to use.
Can I refinance my home if it is owner financed?
Yes. And you should. Is the person who is holding your note reporting to the credit bureaus ?
i am disabled and i have a credit score of 659 661 i get mthly income plus my girlfriend gets 2 incomes can we apply for a loan
The credit is definitely good enough. I would need to look at your income but you can most likely get something, yes. I also have some connections with the City of Bangor where you can get your closing costs paid and a portion of your down payment. Fantastic program. Give me a call (207) 671-8292.Will...

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