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Never heard of them...I'd recommend a BBB search, a google search, a consumer complaint search, etc... furthermore, I'd recommend using the directory tab on this site in order to work with a Reputable individual and a Reputable company.
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I definitely recommend at least 10% down. If you're comfortable with a 15 year payment, then FHA will serve you best as there is no monthly Mortgage Insurance. If you're not comfortable with the 15 year payment, then I would recommend a conventional mortgage with the mortgage insurance financed into the loan and thus no monthly private mortgage
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Any mortgage banker/broker on this site should be able to assist you with attractive rates as long as your are able to document your income.
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If you can't pay down the balance to get to the Super-Conforming limit that Bob mentions, then I think you're biggest worry is the appraisal value. And many analysts are still projecting for housing prices to decline into 2010. So, waiting to improve your FICO may hinder your home value too. I'd take a look at what the pricing is assuming
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[quote user="Jason Harris"]That is a question I get all of the time...I wish they would let us, but all of our piggybacks have to be in conjunction with a PNC 1st. They offer 90% down to a 640 believe it or not (Crazy!!!), so if you ever run into any clients even with a lower score, that just need a 2nd, keep me mind. Take Care, Jason [/quote
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It can be yours for a (Joe) cool $49mill!!! http://online.wsj.com/article/SB10001424052748704013004574517811938284996.html?mod=article-outset-box http://online.wsj.com/article/SB10001424052748703740004574513473606656990.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsThird
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Not too much in the line of suggestions as your closing is so soon, but everything he is telling you is on par - he should've been able to tell you / inform you of all that up front though. The 20% vs 25% - depends on how much of a conversation you went into when you initially got pre-approved. Some people want to get pre-approved quickly due to
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If you pay down the balance substantially in a few years, certain lenders will allow for a recast of the loan, in which, all the terms of your loan stay the same - i.e. interest rate, number of years left, etc..., except the payment would be adjusted downward due to the substantial paydown of the balance. Not all lenders allow for a recast, so it's
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[quote user="Chris Toth"]When the current loan was taken out, the aprasal came back at $200 so at that time I was alright with the under 80% unfortunately with the economy, it's not going to make it that high. I can of course pay the $400 to get a new appraisal, but if it doesn't come back high enough, I'm still in the same situation
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[quote user="Gary Paetzold"]Have you tried talking to your local BOA loan rep? They may be able to pull some strings a call center LO can't.[/quote] out of curiosity, what are you referring to there, Gary??? The turn time to close on the loan???