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Christopher Said:

Any mortgage lenders still doing 95% LTV FULL DOC with 570 credit scores?

We Answered:

It is almost impossible to get a sub prime loan during this period. Everyone is shutting down these loans.

The real people hurt are those that have had health issues and have to refinance to pay their bills. They can't get a 70% LTV with 570 scores nowadays.

Casey Said:

any HSMP visa holders got a good mortgage deal?

We Answered:

Hi,

Yes, you can get. Checkout http://mortgage.creditmortgagepro.com for some useful info and tips. Good luck!

Rene Said:

If I pay for my own appraisal can I present it to mortgage lenders?

We Answered:

Why are you so sure that paying would effect the appraisal? Fraud like this is exactly why they will not accept an outside appraisal.

Use Zillow and Cyberhomes for ENTERTAINMENT only!! They are not even close to being accurate.

Leona Said:

Anyone ever applied for & received a cash back mortgage - 95% mortgage with a 5% cash back?

We Answered:

The catch is in the interest you ultimately pay. It sounds great and some banks really push it to first home buyers. As a mortgage specialist for a bank I do not encourage my clients to take cash back if they really don't need it. Read the fine print... If you were to sell or refinance your home within the term of the mortgage your payout/penalty would be much higher as you would have to repay the remainder of that cash back. This is a pretty common scenario. You really do pay for this cash back it's just not as noticeable. Compare the payments and interest with and without the cash back. Ask your banker to give you the interest comparison over the term of the mortgage and over the amortization. Another common selling point is to just show the amortization savings, everything looks good over 25 years but what is it over the 5 year term. If this isn't your retirement home you likely won't be in it for more than 5 to 10 years before you need/want to upgrade.

Edith Said:

what mortgage lender will lend me 95% mortgage on a 4th floor flat in a block of 13 floors?

We Answered:

The market is very unstable and you may be better of renting for a year then looking again. But I found interesting information about your answer & the best options here.
http://all-mortgage-calculators.blogspot…
Good luck!

Veronica Said:

If a mortgage lender advertises nothing less than LTV 90% would it be worth asking for 95% or...?

We Answered:

Yes, they do not change their rules, so if they advertise 90 % Loan To Value, they will lend at 95 % LTV. You should speak to a broker who offers free advice as a few lenders still lend on 95 % LTV.

Rick Said:

What mortgage lenders do they base your FICO score on?

We Answered:

Mortgage lenders use whatever one or combination that they like, there is no standard.

They're not very careful with what they say, but you as the consumer should hold their feet to the fire. If they said your 'FICO' score was low, be sure they were looking at an Equifax report. Equifax is the ONLY company to use the FICO (Fair Issac) score. Experian and Trans Union use their own, made up, credit numbers. Since Experian and Trans Union do not publish the criteria they use, who knows how they develop it. Usually, scores from Trans Union and Experian are close to the FICO score and to each other, but it is not uncommon for credit scores from different agencies to fluctuate by over 100 points!