Is it worse to have a 5 year ARM loan than a fixed loan rate?Help, I am about to close on a house.?
January 23rd, 2010 by Lenny
We plan to move in 3 years.
Do you have to be Active Duty to get a VA home loan?
July 9th, 2009 by Lenny
I was researching VA loans and got confused. Do you have to be currently active duty to recieve a VA home loan, or can you be out but still in the reserves?My husband has been Active duty during wartime for 3 years been deployed to a warzone for a year, but we want to be able to buy a home when we’re out of the military.
Moving from an ARM to a fixed rate loan. Seeking advice on the best process.?
July 9th, 2009 by Lenny
I have been in my home for 3 years and I need to try and refinance my main mortgage (I have a 2nd as well). October 1, 2007, my ARM rate jumps from 5% to 7%. I have refinanced my last home, so I know the process somewhat, but I am a bit terrified this time around because it looks like even with moving to a fixed in the high 6s, my monthly out of pocket cost is going up about 00. So I am looking for ways to ensure I am getting the best loan possible.
I went to my bank who said that they can get me 7.19% fixed with no points and no closing costs or 6.5% fixed with no points but with closing costs (which will cost me around ,000, but would be wrapped in and financed over the 30 years - ugh!). I am thinking about doing the Lending Tree application but I don’t really want to field 10 different mortgage reps’ calls over the next 3 days. I think it’s worth it if I can get a better deal, though. Right?
Any advice on best practices for this scary process would be helpful.
Tags: 3 years, 6s, best practices, closing costs, lending tree, mortgage, tree applicationPosted in
If I have a ARM mortgage for 3 years at 4.5 percent that is FHA backed can I streamline to 5.25% 30 year fixed?
July 9th, 2009 by Lenny
I want to refi but I am not sure if I am allowed to streamline into a higher rate? I want to do this so that I can lock into a rate before my ARM adjusts when the 3 years are complete
Do you have to be active duty to recieve a VA home loan?
July 9th, 2009 by Lenny
I was researching VA loans and got confused. Do you have to be currently active duty to recieve a VA home loan, or can you be out but still in the reserves?My husband has been Active duty during wartime for 3 years been deployed to a warzone for a year, but we want to be able to buy a home when we’re out of the military.
MORTGAGE BROKES? Is an FHA 3 Year ARM loan at 4.875% a good deal?
July 6th, 2009 by Lenny
The lender says rate can only adjust a max. of 1% per year after 3 years. The loan will adjust once at 4years than again at 5years. After 5years lender advised to steamline refi. Has anyone heard of this type of loan? Any information would be helpful. Thanks
