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St.marks Sanders's Answers

How much do I have to reduce my interest rate for a refinance to be worth it?
Hello, Normally you want at least drop 1% but with the changes in the mortgage industry it has to make sense. Why only drop 1% and redo your mortgage into another 30 years. Think hard and make sure you look at the finance charges before you make the decision. Interest rate is not best way to look at but you have...
What's the best mortgage to get after a bankruptcy?
FHA would be the best program after a bankruptcy. They allow for lower credit scores with an exceptional rate. Chapter 7 requires a two year waiting period after the discharge date while Chapter 13 allows it after one year. The most common problem is most people don't work on rebuilding their...
Buy again with short sale and one 30 day late
FHA is going to be the loan program you want but since you had a short sale it changes your timeline to purchase. You will have to wait 3 years for an FHA loan to buy again with smaller down payment. Other wise 2 yrs on a convenntional loan with 20% down or 4 yrs with 3% down. Good luck.
can a seller pay buyer's closing cost under a VA short sale?
Yes there are two options. The seller can pay as long as the short sale bank approves it and so can the your mortgage lender. St.Marks 720-435-7777
Can I qualify for a mortgage if I have student loan deferment?
Yes but normally we count that debt against you. The only exception is when the student loan is deferred more than one year or you have decided to continue more higher education. St.Marks 303-719-7778
What do I do if my wife has no credit?
Yes, you can use her income and we will need to use alternative credit for her. The only loan will be an FHA loan unless you are a veteran. Let me know if you are interested and I will fly to meet you. I do loans in Aspen all the time.
On FHA streamline refinance can you go from 30 year fixed to a 15 year fixed
Yes you can but it never works out that way. There always has to benefit when doing a streamline when you increasing the payment. You will have qualify with your income to switch to a 15 yr loan. St.Marks
Is 15 years fixed a good option for refinancing in this rate environmnet
Yes, because the current market is still low enough that you take advantage of it. 303-719-7778.
will i pay more using a mortgage broker instead of going to lender direct
Normally your fees are less and sometimes the interest is better. The underwriting is harder but they do close faster than the banks. St.Marks 303-719-7778

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