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What is hazard insurance?
Hazard Insurance is also know as homeowners insurance. Yes it is required. It is used when your home is damaged or destroyed by fire, hurricanes, wind, etc. Insurance is paid in advance, so 1st year is paid by closing and monthly payments toward next year's renewal are added in your housing payment....
I have a credit score of 777. I have no debt, have been employed for 5 years at my current job, and have been employed since college for over 20 years. I would like to purchase a home with 20% down. I have the income for the deposit but would like to know if I would be approved for a 30 year mortgage at 52 yrs of age for $180,000. This would be my first home purchase
Cathy,Your credit score and job history sound perfect for mortgage approval. However, I must know your actual income to determine the mortgage amount. All mortgage programs now require proof of income. If you want to email me, I would like to get your income information. Email: tkingery@homestarfc...
What documents required for self employed?
All mortgages with a nice low interest rate and/or down payment are considered "full doc". You need a minimum of 2 years tax returns(filed with IRS). For self-employed: If your business is incorporated you also need 2 years of corporate tax returns (Form 1120 ) plus a current year to date...
Multiple mortgages, can I get two more?
For standard conventional mortgage programs (Fannie/Freddie) you can have up to 4 investment loans + 1 primary residence. I don't believe commercial lenders have limit. If multi-family has more than 4 units it's considered commercial.
I have one loan program that does not have a specific wait period. You can purchase today if credit score is 640 or higher and you have 1 open/active/excellent credit account reporting to the bureaus. I would be happy to discuss with you. Call me (863) 858-6700.Trina KingeryHomestar Financial...

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