Posts Tagged ‘Mortgage Broker’

Mortgage Credit Q&A

January 24th, 2010

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Can I attain a mortgage beside my credit score?
I am tired of paying $700 in rent. So, I am looking for houses to but that will hopefully give me a better monthly pay. My question is: Can I get a mortgage for a $59,900 house next to my…

Can I attain a mortgage next to a hugely poor credit rating?
Does anyone know of any lenders that will approve me for a home loan? My fico is in the low 500’s, my annual income is around $60k and we are looking in the $200-225k field for a home with around 5% down….

Can I be a mortgage advisor when I hold poor credit history?
The company I work for are about to become appionted reps and I am worried about the credit survey I will have to go through. More than potential not. I worked for a mortgage company for 5 years and every one that…

Can I be added onto a mortgage loan? Is it undemanding to do? I know you can do that beside credit cards.?
Can I be added onto a mortgage loan? Is it easy to do? I know you can do that with credit cards slickly. I can’t think of a good drive why you’d…

Can I bring a mortgage loan next to poor credit history?
We filed bankruptcy 2 years ago. And Now our dream home is finally posterior on the market. My (live together for 4yrs) Fiance has a really honourable job for our area but lone been there around 4 mths. We checked his credit score…

Can I bring a mortgage near these FICO credit score?
Here are my scores form Experian-663 Equifax-654 TransUnion-680 I was approved for a FHA mortgage with similar score. You might be able to go and get an FHA mortgage. Your scores are not that high so if approved lend institution would…

Can I bring back a mortgage beside a 580 credit rack up?
Yes. I had a worse credit score, and I enjoy been in my home for one year. My proposal to you? Contact a mortgage broker. This person will literally take your appendage and guide you step by…

Can i bring back a mortgage if my husband have a failure to pay on his credit chalk up for 300 pounds and it is 4 years out-of-date?
my credit score is excellent and his is good we enjoy 10% deposit Even with an excellent credit record you will struggle to bring a 90%…

Can I bring back a mortgage using toll credits and csa payments.?
If you’re applying for a mortgage, after yes, they will be factored in when determining how much you may borrow. But no, you cannot get a mortgage if this is your SOLE income – you markedly need to have income…

Can I capture a mortgage after identity pinching & tatty credit because of it?
My husband and I are looking to buy our first home. When we talked to a lender 2 years ago they had preapproved us but we contracted to hold off on buying. Back then my husbands credit mark was 642….

Can I capture a mortgage loan near a 578 credit gain contained by jackson ms? has mortgage requirements, righteous lenders and mortgage rates, how to get approved for a mortgage, and all other law and information. Source(s): There are many factor that a lender will consider when qualifying you for a…

Can I capture approved for a mortgage near collections on my credit report?
I would like to purchase my first home within the subsequent 9 months. I have saved for the down pocket money and have increased my credit score to 654 next to new accounts that I always settle on time and I…

Can I carry a mortgage in need credit history?
so i want to buy a house….one day…. is there any opening to not have credit cards, but still somehow get a credit history and and so a credit rating towards a mortgage? I answer questions similar to this one all the time on my…

Can I carry a mortgage minus much credit?
I am building a house and I paid everything cash but i am simply 3/4 of the way finished and i might run out of money. Contact a mortgage broker and see what options you have. Source(s): Retired bill collector 35 years Mortgage loan is…

Can I carry credit if I remuneration the Mortgage?
I am in a rent to own deal; I payment the entire Mortgage directly to the bank, I will pay the taxes on the house as resourcefully. Our agreement is when I can get the loan to get the house is my given name, I…

Can I claim the $8000 homebuying credit and gain a mortgage credit authorization?
I’m planning to buy a home soon and I qualify for a mortgage credit certificate from my city. I’m trying to find out if I can still claim the $8000 first-time homebuying credit in the stimulus bag even if I have…

Can I consent to fiance claim mortgage charge credit?
My fiance pays my mortgage payment but the loan and house are in my signature only. Can he claim the loan interest tax credit? If so how do I allow it? What forms do I necessitate? In addition to the correct answers given by…

Can I consolidate my 1 & 2 mortgages if credit is poor and heading toward forclosure? Need your assistance!?
I’ve been going thru a divorce and a lawyer told me not to remuneration credit cards that I had been using to try to save my house. I’ve been being treated for…

Can I consolidate my credit cards into a first mortgage?
If you own your home out right without a mortgage and refinance you can income off your credit cards with the modern loan. If you’re trying to buy a home with a mortgage, you cannot include credit debt in the loan amount,…

Can I disown mortgage to verbs it to my wife first name? Need to modernize her credit. She wants sole ownership.?
I have ownership of a property but my wife would like to lug it over completely which I’m in agreement with. How can I remove my describe from the mortgage and give it…

Can i draw from a mortgage beside a repo on my credit
yes but they will give you a crappy interest rate , they take benefit of people with unpromising credit , have you seen the communication the housing crisis … they help you get a house , you compensate them for…

Can i draw from a mortgage near no credit history?
i have my veterans befefits for va loan You should be able to, you might want to enlarge some account somewhere and pay for give or take a few 6 months, even a cellular phone account to make it easier. You won’t get…

Can i draw from approve for a mortgage loan beside a credit mark of 585?
My wife and I are looking into buying a house (The American dream). But our credit scores are low. My credit score is 575, 585, 590. Can we qualify for 1st time buyers? we enjoy little down payment, $5000…

Can I draw from approved for a mortgage near collections on my credit report?
I would like to purchase my first home within the subsequent 9 months. I have saved for the down salary and have increased my credit score to 654 beside new accounts that I always remuneration on time and I never…

Can I enjoy devout credit beside purely a mortgage, coup loan, and student loan and no credit cards?
Absolutley, you don’t have to hold credit cards! In fact you wouldn’t need it at adjectives because chances are your mortgage and probably your car loan are bigger than a credit card column of credit!…

Can I enjoy two live mortgage debts on my credit report?

Can I gain a mortgage lacking credit or any employment documentation if I own a $60 000 downpayment?
I’m a stay at home mom who just inherited $60 000, is that satisfactory to get a motgage? No, you have no route to repay the mortgage. No one will lend you money…

Can I gain a mortgage next to an auto repossession on my credit?
Can I get a mortgage loan ($40000) with an auto repossession on my credit? The vehicle be repossessed a few months ago, but I worked out a payment with the mound to pay the deficiency symmetry, and I have been…

Can I grasp a mortgage if I file for ruin 2 years ago? My credit be pristine up until that point.?
What is your credit score? You can do it, but you better have a copy of the Release Letter beside you. Also a reason with documented proof of why you go to…

Can i hear from students/graduate’s who own significant loan’s credit card debt & mortgage surrounded by USA’s cutback?
What’s the amount your in Hock for? What are your job prospect etc? I graduate from the University of Southern California in May. With a generous University admit, a part time job, and student loans I…

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How to use the Better Business Bureauto check out your Hard Money Lender

January 23rd, 2010

With more folks turning towards private money lending in Florida, it’s sensible to check with the Better Business Bureau (BBB) before doing business.  The BBB keeps track of all sorts of companies, like a roman guard of compliance.  Before getting a private mortgage loan always check with the BBB to make sure you’re working with a quality mortgage lender.

If you’re not in the know, private money is a loan from an private lender compared to a bank.  With the economy in a mess and banks not lending money, people are moving towards hard Money lenders to get the money they need.  To help keep building on the rise, higher populated areas are turning towards hard money and private lenders with increasing numbers.

Hard Money is not regulated the same way as bank loans, which is a blessing and a curse.  With some private mortgage brokers you can get a loan without a credit or employment check, which is great if you are self employed or have poor credit.  On the other hand you must be sure you’re dealing with a responsible broker.

I recently worked with a hard money broker named Franklin Karr and I’ll use this company as an example.  This is the same process I used when deciding on a Hard Money loan to purchase an investment property in Miami, FL.  After viewing their website, I went to the BBB and researched the company.  I saw that he has the highest rating available (A+), no complaints, and also had a good review.  I felt good about a company with such a great rating, so I contacted Frank personally and started working with him.

There is no better way to check your hard money broker’s record then with the Better Business Bureau (BBB).  The first step is to open the Better Business Bureau’s national database at .  On this page, towards the middle, you’ll see an orange button that says “Check out a Business or Charity”.  Click this button, type in the name of your mortgage broker’s company and click enter.

Below you’ll see a list appear of possible matches.  A new window will open after you click the name of your mortgage company.  In the center of the page is a clear letter rating, just like your favorite science teacher would give you.  These grades are based on a number of factors, the most important of all is customer satisfaction.  To the right of the letter grade is an explanation of the grade and below that more information on the business.

Always keep the BBB in mind before making a decision to work with a hard money lender in Miami.  A good rating equals out to many factors including proper licensing and government compliance.  Keep in mind that any business with a bad rating or not listed could potentially cause you problems.  Finding a business with an A+ rating, such as Franklin Karr, is a true treat and should be preserved like a golden ring.

Private Money Broker Dade is a great sourse to find information on Hard Money Lending. You can find resourses and information to help you get a loan today.

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Not All Mortgage Brokers Are Created Equal

January 19th, 2010

So you have decided you want to buy a new property and need to organize finances. With over 1000 home loans available to Melbourne Home Loan Customers, do you have the time to find the best deal for you?

Like most of us the answer is No. Melbourne Home Loans are becoming more and more complicated, quoted interest rates are not the true interest rate so you have decided to use the services of an expert, such as a reputable Melbourne Mortgage Broker.  Using an Independent Melbourne Mortgage Broker delivers the following benefits to you:

1. A simplified way of understanding and evaluating home loan products
2. A Mortgage Broker saves your time
3. To ease the stress of the home loan application process
4. To obtain truly independent advice about the best product that suits your needs. Most large Mortgage Brokers in Australia are owned, controlled or affiliated with a major bank. So ask yourself am I getting truly independent advice?
5. To get a better deal All Mortgage Brokers have access to a Home Loan Calculator which allows you to access 1000’s of Melbourne Home Loans. The real value that an Independent Melbourne Mortgage Broker delivers is the ability to deliver independent advice and recommendations. Anybody can operate a calculator.

Leading Independent Melbourne Mortgage Broker What If We Finance CEO Spiro Kolokithas says ” the larger mortgage brokers are similar to a fast food chain. They claim to serve customers and meet their interests but if you have a major shareholder that is a major bank or shareholders not happy with the return on investment or mortgage brokers being expelled for not meeting industry standards how objective is the advice you are getting?”

What If We Finance recommends you ask Mortgage Brokers if they meet industry standards and also if they are truly “independent”. The Global Financial Crisis and the shrinking of competition in the Melbourne Home Loans Market means you may still be ultimately dealing with a major bank. Alternatively contact What If We Finance and see why not all Mortgage Brokers are created equal.  Independent Melbourne Mortgage Broker What If We Finance recommends that a Home Loan Health Check is conducted every 12 to 18 months. Melbourne Mortgage What If We Finance advises borrowers to monitor their home loan when considering Melbourne Debt Consolidation, Melbourne Refinancing options.

Karen Rickert

Melbourne Mortgage Broker
Melbourne Home Loans
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Why choose a licensed mortgage broker over a mortgage banker

January 18th, 2010

There is a popular perception, in the minds of many, that mortgage companies are basically mortgage banks which function by lending their own money in a mortgage deal. However, there are significant differences between the two worth knowing about. Any company you come across today can be clearly classified as either a mortgage banker or a mortgage broker. Let us clarify the reasons for preferring the services of a mortgage broker, instead of a mortgage banker, while securing a loan in the present credit market.

A mortgage broker is an individual who generally deals in selling loans in the secondary markets. The mortgage broker isn’t exactly a direct lender, from whom you can borrow a loan. Put simply, mortgage brokers can be thought of as “money scouts.” They are tasked with investigating and evaluating the credit situation of a person who applies for loan. They then determine which lender best suits the borrowing needs of that person applying for that loan.
The application presented by a home buyer is presented to many different money lenders by a mortgage broker. The broker selects the most suitable match among them, and then follows up with that lender, right on through to the closure of the loan. The best mortgage brokers in the market can find a lender for almost every type of loan requirement.

If you choose to employ the services of a mortgage banker, there’s no question that you’ll save some money on the middle party fee; but your job of acquiring the loan would become much more tedious and time-consuming. It would rest on you to compare money lenders on your own, and if you lack professional negotiating skills, then the best deals, with respect to the terms and conditions of the loan, would simply never be available to you.
Krebs Financial is one such broker, serving the consumers of the Miami area in Florida.  Mortgage brokers can help anyone who wants to take advantage of the present state of housing prices, act quickly and get the best long-term deal.

Krebs Financial of Miami, Florida is a full-service mortgage, credit repair and loss mitigation company with expertise in short sales, loan modifications, reinstatements and more.

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January 18th, 2010

There is a large amount of information to learn about refinancing a mortgage. Where do you get the best advice? Well, that is a loaded question. If you know a good mortgage broker, personally, this can be a great asset. Just be sure that you can trust the individual. Otherwise, look to family or friends for their connections. The best way is to do your own research, which you must be doing or you wouldn’t be reading this.

Mortgage refinancing allows for a reduction of a long term loan which translates into a significant reduction in interest costs. Mortgage insurance ensures payment in the event of death or disability. Proving that you have the proper mortgage coverage will allow most companies to decrease the down payment while others strike it off as a necessary thing. Mortgage interest is deductible.

Mortgage shopping for any length of time can be really frustrating. The rates are constantly changing, the refinance programs are constantly evolving and it’s hard to keep up. Mortgage debt comes with the cheapest interest rates of almost any consumer debt. The key is simply to make sure that the profits you will see from investing will be enough to compensate for the taxes on the initial sum.

Lenders will charge you higher rates than average and offer you a more limited range of mortgages if you choose to self-certify your income. In general it’s not a good idea to self-certify just to avoid some paperwork. Lender underwriting occurs between days 21 and 30 or sooner. The underwriter is responsible for determining whether the combined package passed over by the processor is deemed as an acceptable loan.

You, as a borrower must contribute at least 1% of your own funds for 1-2 family homes and 3% for 3-4 family homes. Gifts, grants or seller concessions are allowed, with limitations set by SONYMA. You can optionally pay more than interest. You also need to make a risk-based assessment of whether extracting equity from a home is economical. You should also be aware that refinancing a mortgage has costs, including the fact that the lender may charge a higher interest rate on a cash-out refinance than a rate-and-term refinance. 

Good luck!

Peter Richard Johnson is webmaster for This site has lots of information about refinancing a mortgage.

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