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Pam Schubert - VA Certified Loan Specialist's Answers

downpayment requirement -- historically?
You can get an FHA loan with as little as 3.5% down. There is also the VA program that is 100% no money down along with USDA Rural which is also 100% no money down. All loan programs are credit score driven so depending on what your credit score is can make a difference on whether you would qualify or not. The USDA...
Homepath Loan, Questions about qualifiying.
We would need more information in order to make a decision. Depending on the monthly debt your husband has and more information regarding the renting of the property would also have a factor. I am a loan officer for Peoples Home Equity, Inc, we are in Wisconsin. Give me a call at 920-410-2646 which is the...
Refinance my home at 5.75%
It would definitely be worth checking out...the conventional rates are in the 4% range currently.I would be more than happy to run some numbers and discuss some options for you. Give me a call at 920-410-2646 or send me an email at
Spouse eligible for FHA loan?
Yes, your ex-spouse is still eligible for a FHA loan on her own. She had no tie to the debt since you purchased the home before you married her. Even if you were married to her she would be eligible as long as her name was not on the note. We do have a source that will allow us to go down to a credit score of 600 if...
Going through Divorce - Should I still make payments?
Is your name listed on the loan or just on the mortgage? If your name is on the loan (note) this will effect your credit!
Paid off DMP. How long do you wait before applying for loan?
You should not have to wait at all to apply if you are not in the DMP any longer. We can work with 600 credit scores. Call me at 920-410-2646 or send me an email at so we can discuss. Always free consultations! I am in Wisconsin. Pam Schubert, Peoples Home Equity Inc.
Here is my question-Lending Company who offers LTV higher than 85%
It is not the lending company that offers the 85% and higher, it is an FHA program that you should ask the lender if they do this type of loan program. Most lenders will offer this program so contact your local bank, credit union or lender. Good luck :)
what type of loan
Hi Michael, Is this a purchase or a refinance? You are looking at a 203K or a cashout.
Will we qualify?
There are other factors involved besides a credit score. If his middle score is a 625, this score is still a score we can work with. Give me a call at 920-410-2646 or send me an email at - Pam Schubert with Peoples Home Equity
mortgage bank bankruptcy
Another lender will be taking over your loan. There will not be any changes to any part of your loan, just who you will be making your payment to.
Can a person by on a Mortgage Loan and NOT on a Title?
No, when someone is on the loan, you are on can be on title and not the Loan. You can also remove someone from the title after the fact with a quit claim.
Can I find a lender to give me a loan refi at 87% without PIM?
If you were a Veteran and qualified for a VA loan there would not be any PMI with you loan. If you are in a conventional loan with PMI, there would not be a way the value can be given without having an appraisal done. If the value is at 80% LTV then there would not be any PMI, if there would be a need for PMI, there...
can husband refinance the home without wife consent?
The wife will have to sign paperwork at closing. She can prevent the refinance from happening by not signing. A person can purchase a home without their spouse signing anything but they cannot refinance without the spouse.
Should I pay off a medical bill that went to collection that is 2-3 years old?
If it is from 2010 I would not pay it off.....I would wait until the lender tells you to pay it off, which if you are going with an FHA loan they will probably leave it alone. As long as it is not currently reporting activity on it I wouldn't touch it.
My bank says I am entitled to Harp Refinance but they want my son in title
If your son signed the note, then he should be on the mortgage also. If you and your husband are not on the Note then you will not be able to do the HARP without your son.
Transfer the house to the son while still paying the mortgage
You would get a quit claim deed drawn up, these can either add someone to title or remove them from title. A title company can help you with the quit claim deed as well as an attorney. This will remove your mother from title and add you to the title.
If i check my credit for free and then a lender pulls my credit will it hurt my fico score?
It will not hurt your score, unless you let a bunch of people pull it...I would advise you not to go from lender to lender and have your score pulled....this will hurt your score. You may want to get it pulled to see where your score is at if you are looking to refinance. Pulling your score now can let you know if you...
do lenders ever issue pre-qualifications without an official credit check?
It wouldn't be worth anything if credit isn't going to work.
Ca you purchase a home with someone even if you're not married?
Yes, you can purchase a home with someone else, you do not have to be married to the person. I am a lender in the State of Wisconsin and would love to help you out. You can reach me at 920-410-2646, or
ca i qualify for a no money down usda mortgage with a 695 credit score?
Yes, you can get a USDA loan with a 695. The property must be located in an eligible area along with you will need to meet the income requirements. (Basically, we will need to make sure you don't make too much money)This is all very easy to check for you. Please give me a call at 920-410-2646 or send me an email...

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