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Jerry Holcomb's Answers

Will mortgage rates continue to go down?
Hi Travis:A good rate today no points or Lender fees would be between 4.00% 15 yrs fixed to 4.625% You can roll the fees in and not make much difference in payment though and rates would be between 3.625% and 4.25%on $130,000. Principle & interest would be $639.52- $668.38 30 yr fixedon 15 yr fixed $937.35-...
Quitclaim the best way?
Hi Julie:Since you are not on title right now this is a purchase finance. According to the equity available your mom can gift it to you to cover down payments and even closing cost if possible.There is no difference for you to go the Refi or purchase route as far as interest rates, I need a bit more...
Does anyone know the turn around time for a Texas USDA loan?
You can check USDA turn times in Waco here is the link. Last I checked it was 15 business days once complete file was at USDA.
Self-employed, what tips do you have for ensuring i qualify for a loan?
Hi Big Dave:The answer is both to a point. Underwriters look for a 2 year average to determine income. Plus the income must meet the qualifying ratio for the loan being applied for. Income increasing year over year is much better than declining income. Hope this helps.
Can I assume a loan in my parents name if I don't qualify for my own loan?
Hi Greg:No, the bank will not let you assume a loan without qualifying for it. However, there may be another option. where you and your parents are on loan together. that gets a better rate and you get mortgage history on your credit. contact me if you want to explore options.
Need a VA loan in less than 30 days. Please contact me if you can do this.
We can but need everything ASAP.. VA is 10 days on appraisal. we can underwrite you during that time frame. Once I have contract and disclosed we can rush the rest.jerry

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