All Forum Posts by: Alan Lacey

I would guess they sold the loan, and not reflecting on all three bureaus yet so seeing both names. If you get a servicing transfer notice in next couple of weeks that would probably be it.

Almost all hoa’s will at least have info on what percentage of homes have mailing address as primary. If it is a pud might be less commonly asked for but condo they will definitely have because it is part of standard condo questionnaire that lenders require. Most site condos will as well.

most non am residential goes to Wall Street etc and is sold off and lender gets paid etc . Same with anything they call "portfolio" that they sell. In mortgage portfolio typically is what you call loans that they keep on their own books. And pricing based on cost of funds with margin for risk and projected prepay speed. So no one really plans on it being on the book to term, and they have to lend out money even i. Low rate environment to make a return. It will cut into their ROI and ROE numbers but they won't be losing money.

Many time the rate adjustment for those programs offsets most of the payment reduction from going interest only. Just have to compare. Other than that there is nothing wrong with the product.

Well first thing ask both lenders for their quotes at those rates so you can make a apples to apples comparison. Rates are probably likely to go down, but what does it matter if you have already broken even. If financing the points make sure to not just compare interest savings to discount fee, but just the payment difference vs the discount fee.

that is what it is supposed to be. If it said something else that is what you would need to nit pick.

I wouldn’t refi until you have to, and I would take to lender about what the max amount you can qualify for using your va supplemental benefit to have more than 1 va loan. 

Heloc’s are a fine product, but with projected increase in fed fund rates, and thus prime rate, of roughly another 1.75 to 2 percent in next 18 months you will see a big move in short order. Really depends on what you owe on first relative to amount you are cashing out, and of course max line amount you can get.

If they didn’t take a deposit or you didn’t pay it out of pocket then no.

I think you have a few folks commenting not familiar with 203k or how a lender has to disclose costs on Loan estimate. Believe that contingency amount required on 203k your broker fee offset by lender credit which is just a difference in how brokers have to disclose. You have draw fees and a bunch of other stuff plus costs on the LE include setting up the new escrow which will be same regardless of lender, and same with the ufmip fha charges. You could

Looks at lender that offers Fannie home style as those costs less but at your score rate would be higher.