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Abdi Mohammadian's Answers


Are there any added benefits to paying off a mortgage before selling the property?
Advantages of Paying Off Your MortgagePeace of mind. Rest easy knowing that you no longer owe payments to your lender.Money won't go out the window. Enjoy having savings in your pocket versus shelling out additional years of interest payments toward your home.More financial flexibility. Not...
How do USDA mortgage rates compare to FHA mortgage rates?
USDA and FHA loan programs are both federal government mortgage loans created to help borrowers with less than perfect credit scores and low down payments procure a mortgage. The United States Department of Agriculture underwrites the USDA mortgage loan program and the Federal Housing...
Can I sell my house to a family member for below market value, or is it better to sell at market value and gift the down payment?
One of easiest and least expensive approaches is a private "owner-financed" sale. That's where your son makes monthly payments to you instead of having him go through a lender. This can be arranged pretty quickly and could save your son thousands of dollars in interest. Make sure the...
Is there a way to get a bigger mortgage if I'm going to get a substantial raise in the near future?
If you are changing your job, But not your field then you need your contract with your new job + Pay stub.
Do I need a lawyer to completely pay off my coop mortgage?
One of my client is in the process of paying off his mortgage on a co-op . In addition to paying off the loan and making sure he receive all the papers being held by the bank, what other procedures and responsibilities should be made final at this time?
Can I get an EEM loan for the installation of solar panels?
Homeowners can take advantage of energy efficient mortgages (EEM) to either finance energy efficiency improvements to existing homes, including renewable energy technologies, or to increase their home buying power with the purchase of a new energy efficient home. The U.S. federal government...
Will a lender consider a home loan to a person on a fixed income?
The lender does the best possible job of ensuring that a borrower qualifies for a loan. The final decision, however, rests with the lender's underwriter, who measures the total risk that the specific investor, who backs up the loan, is taking. Each investor (or investment company) has its own...
Can I get a home mortgage straight out of college?
If you are not familiar with the area, RENT for awhile before buying.See if the police department has a crime map of the city which shows how much crime is happening where.Get up extra early in the morning. Then drive to a location where you are thinking of buying a house, then drive to work from there. See how...
my mid score is exactly 640. How much will my score go down when bank runs my credit?
Credit scores are a very funny thing, you make an inquiry and your score gets lowered, close a card too fast and score gets lowered, and if you don't spend your card for a while your score gets lowered, if you pay just the minimum for too long your score gets lowered, and finally if you pay off your...
What is better for the long term, cash-out refinance or HELOC?
The real problem on a cash out is you would be exceeding 75% LTV and on a loan over $417 K is challenging.HELOCs are available up to 80% LTV. I think it deponds on your situation.
Is there a tax liability if two buy a home together, but one pays more down than the other?
Find a local accountant at this site.www.accountantsworld.com/Kentucky
I want to refinance my 30 year fixed mortgage to either a 15 or 20 year fixed rate mortgage.
Here are the links:www.fanniemae.com/loanlookup/www.freddiemac.com/corporate/
I defaulted on my student loans. Can I still get an FHA loan someday?
First resolve it and get your credit up date and then you can get a FHA.
Can I refinance my home mortgage after I got a loan modification?
You can do it but all deponds on your situation.
can i get a mortgage loan in NC with a credit score of 604?
FHA accept 600 score. If you want to refinance and your score is 600, FHA will do it. Go with locals.

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