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Steffnie Parsons's Answers

Can I get some cash out of my VA streamline refinance to fix my weathered roof?
The only way to do this is to do a cash out refinance, to my knowledge. You can still use your VA loan, but cash out refi is capped at 90% loan to value.
Further to vacation property question
It sounds like you have a very good chance of getting a home loan, but it is always safe to have you credit pulled so you can get a more definate answer. I am not sure what area in Florida you are looking, I have a good Realtor that could help you. You can contact me for any further information. ...
How much of a down payment can be a gift for a conventional loan home purchase?
All of your down payment can be gifted as long as it is documented and it is coming from a family member. Office
Are there any lenders that will refinance our mortgage after bankruptcy?
Hello, as long as you do not have any property including in the bankruptcy, the wait is 2 years. Steffnie Parsons, People's Bank and Trust. 405-445-1091
Trying to refinance an investment property but debt/income may be an issue. Help!?!?
The rule is very firm. You must show the rental income on 2 years of tax returns. It is almost treated as self employment. I would be happy to try and help. It is hard to see what a file really is without it being on paper. If you are interested in trying call me or email me.
Can I get a FHA streamline on my rental property if i still owe more than its current value?
You could possibly qualify for the HARP loan. Contact me email or phone 405-445-1091
va loan after short sale
Two years is the magic number unless you had no late payments with the short sale and then my lender guidelines say you are ok. The VA has a set of basic guidelines to go by, although the VA does not do lending, the lenders have what is called "overlaying guidelines".
FHA Lenders in Lincoln, NE who ignore deferred student loans
I can eliminate the student loans from the DTI ratio and go up to a 55% DTI. Steffnie Parsons, NMLS 737490
What closing costs do the buyer and seller share (pay together)?
All of your closing cost can normally be negotiated. It is as simple as telling your realtor that you want to do so. Are you pre approved yet? If not, contact me. 405-445-1091.
Converting Fannie Mae conforming loan to VA loan
I can help you with your refinance from a conforming loan to a VA loan at 100% of the appraised value. Call me at 405-445-1091 or email me at
need to refi with a credit score of 755
It is possible for it to affect your approval. Especially if her income is needed to do the refinance? The rate is going to depend on a lot of things. Call me or email me and we can go over some things. 405-445-1091
under what circumstances would i need a "full" appraisal for my home
If you are doing a VA IRRL which is a VA interest rate and reduction loan or a FHA streamline refinance a full appraisal is not needed. Also most HARP loans do not require a full appraisal either. If you need a lender give me a call. Steffnie Parsons 405-445-1091 Steffnie@peoplesbankusa.comThanks
can we get an fha loan for an investment property?
If the home is not going to be your primary home, no you can not get an FHA loan for investment, you will be required to put down 20% for investment property. Contact me today 405-445-1091 Steffnie Parsons with Peoples Bank or email
do lenders check your credit score when you get a refi?
Yes, a credit report is still required to be pulled. I am happy to help you please contact me, I work in all 50 states and WV is one of my favorites. 405-445-1091 Steffnie
my question is how to convert VA loan into a Conventional loan
This is easy, but I would just like to know why would you want to convert your VA loan into a Conventional loan. VA rates are much lower than conventional rates and you can get cash out up to 100% of the appraised value. Also, if you just wanted to lower your interested rate you can do a VA IRRL and not have to do...
is boone bank & trust co an approved va lender
People's Bank and Trust Co is an approved VA lender. A bank is not going to advertise for a loan they can not do. It would just cause them more trouble.
my BK discharge is 08/2011 but my home was sold in Short sale in 04/2012. I included the mortgages in my BK7. Do I have to wait 2 years from BK date or Short Sale Date?
There are so many new rules to this question. It would be a very good idea for you to contact a lender. I would be happy to help you. Steffnie Parsons with People's Bank and Trust Co. or call 405-445-1091.
is there a minimum credit score needed for zero down on VA loan
I go down to a 620 call me today. I am a VA loan specialist. Steffnie Parsons 405-445-1091 or email
How are rates for FHA fixed compared to ARMs right now
Honestly the rate for an ARM are about ..5 to a full point lower than the FHA rate, but depending on the size of your home loan, I wouldn't chance an ARM loan. Give me a call we can go over all of it.Steffnie Parsons, People's Bank and Trust, 405-445-1091 or email at Steffnie
Will my cosigner have any rights over the property?
Yes, a co-signer is actually just like a co-borrower, they will be on title, they are putting themselves at risk as a co-signer for you but they are also saying to the bank that they can handle the mortgage payment if you default on it. They can not sell it without your signature as well, but they will have...

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