All Forum Posts by: Ham Merritt

@JoAnne Nadeau Welcome to BP. Best of luck to you.

@Stevan Adzic Wish I could help. I don't know too much about private lending options. @Michael Henry might be a good resource for this.

@Robbie Taylor We have a really strong team in Lexington. PM me if you want to connect with a mortgage banker for a 2nd opinion regarding your lending options. I'm not sure why they would tell you to wait till the fall. Maybe he is too busy for a refinance because the market is crazy right now? I would refi out of the 5/1 ARM asap before rates go up even more.

@Clayton Hucke Cost/Terms/Customer Service will be found in a Mortgage Banker over a bank or credit union. As alluded to above, Gateway Mortgage is a Mortgage Banker, as are we. I am not licensed in Oklahoma however, could connect you with someone from our company that is if your interested. Just shoot me a PM.

@William S., @Michael Henry could be a good resource for you.

@Lorraine B. Congratulations on the closing. @Michael Henry is a great resource to be connected with here in Milwaukee. Best of luck to you.

@Michael Henry might have a good contact for you.

@Robert Aiken Does your friend have a VA loan? 4% is good for a 30 Year VA Loan. Don't forget the other benefits you get for it being VA-0% Down and no mortgage insurance. I don't think you would be able to do much better than 4% on a VA today. Thank you for your service.

@Wenhao Leu You will not be able to get a conventional mortgage loan with an outstanding Judgement on your credit report. Regardless of how long you wait. All conventional mortgage lenders will require the judgement to be satisfied prior to closing on a mortgage loan. My advice would be to negotiate a settlement with the plaintiff so you can get the matter satisfied on the credit report. As long as the judgement is not paid in full or satisfied, your friend will not be able to get a mortgage.

@Robert Aiken what type of loan do you and your friend have? FHA? Conventional? Also, what is the term on the notes? 30 year? 15 year? 10 year? As mentioned above, there are many many variables to take into consideration in regards to your question. You very well could be comparing apples to oranges. If your FHA or conventional and in a 30 year, your interest rate is good. You would not be able to get better today with that credit score in todays market place unless you went with a note term less than 30 years.