Forgotten Your Password?

Need to Register?

Phil Georgiades's Answers

Can I get another VA loan if I foreclosed on the last one?
Lots of incorrect info here. Yes you can get another VA loans and you do not need to pay back the losses. The $0 amount you may borrow will be reduced because your entitlement has also been reduced. However, if the loan amount is large enough, you can use tier 2 entitlement. Be sure that your lender is an expert...
could i go zero down for VA with a 620 credit score?>
Yes - but it depends on the loan amount. Each county has a set $0 down loan limit. The loan limits are subject to change every year.
Is it absolutely mandatory to have 20% down to buy a second home?
It depends. If you are eligible to use a government home loan, you may have a very low (if not any) down payment required. Depending on the loan type, the down payment could be $0-3.5%. If you are buying the second home purely as an investment property, then you may need to make a 15%-20% down payment. On the...
What percentage would you loan to a 64 year old with a house valued at $110,000 and owes nothing?
It depends on 1) the mortgage type; 2) your ability to repay the debt and 3) program guidelines; and 4) investor guidelines. A government insured "forward" mortgage will allow you to cash out a lump sum up to 100% (for a VA loan) or 97.5% (for an FHA loan). A reverse mortgage will allow you to receive a...
Where do i get my va certificate of eligibility??
Joe is 100% spot on! If your loan officer cant get your COE, you should replace them.
getting a va loan with 733 credit and high DTI?
The VA does not set the guidelines. Each lender has their own DTI limit. However, if you have "compensating factors", you may be able to exceed 50% DTI. Good credit is a compensating factor but the lender will evaluate your entire profile (subject to their guidelines). Most lenders will limit borrowers...
do you offer home equity loans to people who had a bankruptcy 4 years ago?
As long as 1) you do not have any late payments or collections within the last 12 months, and 2) you have re-established credit after the bankruptcy; then yes, it can be done. You may have better luck with a broker than a bank. Credit unions may offer good terms as well.
Can they just remove him from the loan and deed? and is it possible to sell my mortgage to two different companies 2 months aparts
There are many parties to a loan. The investor owns the debt but the servicer collects the payment. For example, Wells Fargo may send you a statement but the investor can be a hedge fund. The debt and the servicing rights are sold often. When the investor sells their interest, you will likely never know....
is there any way to speed up the waiting period post bankruptcy for an fha loan?
It depends. If the bankruptcy was a direct result of a loss of income, you may be able to use an FHA loan in just 12 months.
best mortgage option for first time buyer, newly married?
If you are using a government home loan, 697 FICO is top tier and you should qualify for the lowest rate. However, if you use an FHA loan, you will have to pay mortgage insurance. If you have military service, you may want to use a VA loan and apply the 5% down payment you have saved to pay off other debt.
can i refi into VA mortgage with current FHA? boyfriend in USAF
In order to use a VA loan, the borrowers must both have eligibility or be married. If you do not have past military service, you would need to be married to use his VA loan benefit. If you have enough equity in the home (and you do not have eligibility), you may want to refinance into a conventional loan.
streamline refi my va loan
5.5 is really high compared to today's interest rates. You should be able to get a much better rate than what you currently pay.
VA Loan Qualification
VA requires a permanent foundation. Single wide may also be an issue.
I have a VA loan on my home in Alaska. I am retired military and wanting to be a snow bird and get a second home in Washington
As long as you qualify for both payments and have entitlement remaining, yes you can have 2 VA loans at the same time.
Can I get cash back funds with FHA or VA?
With a VA loan, this is generally not allowed. Some lenders will allow this but there are very few who will. FHA has a specific loan type called the 203k that will provide funds for construction or repairs.
Why is it illegal to help your child buy a house?
Of course it is allowed! Gift funds are allowed on most loans but you will need to "source" the funds. This usually means that the lender will wait to see 3 months of bank statements. This is to prevent money laundering.
what is the maximum loan size the VA will do on a streamline modification
A streamline is not a modification. A streamline is only for the amount you currently owe. It is used to reduce your interest rate. A loan modification is when you are unable to afford your mortgage payments and are asking for a 2nd chance on the mortgage. This usually means you will receive a reduced...

Subscribe to our news feed.