All Forum Posts by: David Kelly

@Ali Montazeri

It depends what type of loan you have, The value of your home, the current rate and home prices. And are you paying mortgage insurance?

A lender can figure all of this out in about 15 minutes by looking at a mortgage statement.  feel free to get in touch.

@Brad Campbell

I don't have options as far as the non-traditional lender, but you can always consider doing a HELOC after the refinance is done. I know some that will go up to 95% LTV.

@Sayli Mulay

I have been doing several of these lately. You have to close the Heloc if you would like it to be considered a rate/term refi. It best to close it and reopen another one after. I have options on HELOCS up to 95%LTV and im able to send the docs from the refi to the Heloc lender. Saves time. You can subordinate it as well to keep the current heloc. What state are you in?

@Felix Fermin

Hello, I’m currently helping other BP subscribers out on cash out refis. Feel free to get in touch. I can do primary, second home, and investment properties up to four units. Depending on the location and loan size I have some creative ways to get maximum cash out. 

@Jonathan Mentor

How long have you been self-employed? Can you provide 18/19 tax records? This is what we would calculate your monthly income from. Are you W2’d at all?

There is unfortunately no way around Down payment unless you are a Veteran, or can find some sort of USDA property out of the city limits.

Joe, You can move to anywhere you want but you will need to have a job lined up for the approval.  Unless you are able to transfer and keep the same job.  With the new job you will need to get an "award letter" stating your employment start date and details about your pay.  The loan will be qualified based on what that letter from your new employer says.

@Justin Heitter

Cash out refinance Because it's historically cheap money right now. If you need a little more you can get a HELOC right after. I have been doing several of these since I already have all the docs necessary I can just send them over to your Heloc person.

@Andrew Laurence

Hi Andrew, I would be happy to learn a little more about your goals in this. Seems like a fairly simple process to me unless there is something specific you are thinking might be an issue.

Feel free to reach out.

@Joe Mack

You will need a two year job history, and credit. The credit thing is easy. Google that on the internet. Main thing is to keep your balances low, you don’t want to use more than 40% of the limit and pay on time every month. If you are having an issue getting a card, find sometime that will let you be an authorized user on their card. This puts that card history automatically on your credit report. Make sure it’s a good history!