Q&A
Asked by jason
Answered by Paul Carson
Loan Officer in Conshohocken, PA
Loan Officer in Conshohocken, PA
It may be doable but it depends on what your
credit scores are and what you can carry in
terms of a new mortgage. Ultimately your DTI
(Debt to Income) Ratio needs to b...
Q&A
Asked by liduruo518
Answered by James Barath, CMPS
Certified Mortgage Planner in Crown Point, IN
Certified Mortgage Planner in Crown Point, IN
Leveraging the equity from your primary
residence to consolidate other mortgage debt
can be very enticing with today's low mortgage
rates. On the surface, it doesn't a...
Q&A
Asked by dmarin9
Answered by Greg Fischer
Mortgage Professional in Manchester, NH
Mortgage Professional in Manchester, NH
Probably. Know why you're doing it, though.
Are you trying to lower your monthly payments?
Accelerate your payoff? Just reduce total
interest expense? Those are 3 very...
Q&A
Asked by uticaboy2
Answered by Dave Bradley
Investment Manager (Financial Advisor) in North Charleston, SC
Investment Manager (Financial Advisor) in North Charleston, SC
Hi uticaboy2
Can you elaborate on why you
need to refinance rather than just pay off the
debt? If you are unable to pay off the debt,
how much more debt through ref...
Q&A
Asked by hmeriwether00
Answered by Paul Carson
Loan Officer in Conshohocken, PA
Loan Officer in Conshohocken, PA
I'd suggest looking at a 15-year fixed-rate
mortgage, maybe even a 10-year fixed-rate
mortgage.
Q&A
Asked by Infernorob
Answered by James Barath, CMPS
Certified Mortgage Planner in Crown Point, IN
Certified Mortgage Planner in Crown Point, IN
Hi Rob. The fact that you have possibly paid
four years on your previous HARP loan means
you should be eligible to refinance. If
you're ready to see what you could qu...
Q&A
Asked by an anonymous user
The answer to that question depends on a few
things. Do you intend to remain in your home?
What term are you on now? What state are you
in? (closing costs vary by st...
Q&A
Asked by Andrew
Answered by Judith Liu
Loan Originator in Rye, NY
Loan Originator in Rye, NY
With FHA its only 2 years. Otherwise, most
products require 4 years from the date of
discharge.
Q&A
Asked by Daniel
Answered by James Barath, CMPS
Certified Mortgage Planner in Crown Point, IN
Certified Mortgage Planner in Crown Point, IN
Not sure what you mean by reliable Daniel.
What can be said is that a HECM (aka reverse
mortgage) is not a good fit for all seniors;
however, for the ones who are hous...
Q&A
Asked by William
Answered by Michael Bull
Mortgage Professional in Plano, TX
Mortgage Professional in Plano, TX
The only place I know that does refi's on
manufactured housing is Wells Fargo.
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