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Victor Navarro's Answers

Is it possible to have 2 FHA loans or do I need to refinance to a different loan type?
Hi Emily, The answer to your questions is Yes, It is possibel to have more than one FHA loan, but a property can not be purchased for investment purposes with an FHA loan. What are you trying to do? Thank you, Victor NavarroMortgage BankerNMLS # 335881Mortgage Banking Division25391 Commercentre...
How do I find a mortgage refinance without closing cost fees?
There will be closing costs. There are 3 ways to pay for them. You can choose to pay by increasing the loan amount, You can choose to pay out of pocket by writing a check at closing (this is the least popular choice) You can choose to have the lender pay for them. This choice will increase your interest rate...
I am a young adult trying to save for my first home. How much money do I need to save?
If you are looking for minimum down payment and If you are a veteran you don't need any money down, otherwise you might be able to buy with as little as .5% down, but ideally you'd need 3% for a conventional loan. You'd still need to pay mortgage insurance, but now days mortgage insurance on conventional...
Can we refinance an investment property (or vacation home) with HAPR 2?
Yes, You can guide lines are a little more strict as far as Loan to Value goes, but the HARP program also applies to investment properties and second homes Thank you, Victor NavarroMortgage BankerNMLS # 335881Mortgage Banking Division25391 Commercentre Drive, Ste. 250Lake Forest, CA 92630Toll...
Can my loan be denied now that the loan was approved and papers were signed?
Approvals or denials are issued based on infomation reviewed, changes on the information will change the approval or the denial
do fha loans have a standard limit or is it based on the area you live, or on appraised value of home?
Below is the site where you can look up you county loan limit for FHA loans, but FYI. now days you could get a conventional loan with 3% instead of 3.5% down payment and lower MI than FHA loans.
are GRT loans best option for foreign student?
Hi There, Guide lines show if income is continuing for 3 year+ it's can be counted for qualification purposes. I'll be here to help Victor Navarro

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