Front-End Ratio
Lenders are more concerned with the Back end ratio; exception USDA they will not budge for most borrowers

I have the oppurtunit to buy a house with 3% down with no PMI.
USDA and VA loans do not require PMI but they do have Upfront fees respectivly. I would put the 20% down which would also save on interest over the life of the loan in addition to qualifying you at a better rate.

Looking to Refinance but Have a Few Questions...
No you can do this through any approved lender. Do you know how much equity you have in the property? (i.e. did you put 20% or more down or did you do FHA? Or other? Please call me directly and I can go over this with yout to give you a good answer to your questions. I am here to help you; no strings attached....

Will a gap in employment affect a loan application?
You can get conventional financing with 6 months at the new job with reasonable explanation. Plus you were still recieving commissions. You most certainly can get financing with approved credit score, etc. Call me if I can help you! You only need 2 years hstory for government loans. 505-238-1218

HELOC and Refinancing possible?
You can choose to pay off both mortgages (HELOC) or subordinate the HELOC, which means you can keep that open as long as that lender allows it to be re-subordinated. The appraised Value will let you know how much you can appraise for either way. This is very easy and painless with the right lender who knows...

FHA w/ 608 credit score...anyone doing these?
You can qualify- call me in Albuquerque-505-286-3071.

My chp 7 bankruptcy was closed 3/31/2011, is there a chance for me to receive a loan on my home.
You can get a loan after the foreclosure has been DISCHARGED for 2 full years. Time flies quickly so don't let the additional year wait discourage you. Start saving your money for your down payment and keep your credit/debt in line with your income and before you know it, you will be ready to buy your...

Should I refinance now or later? Have I missed my chance?
You can do a HARP refi with NO APPRAISAL.

adjustable rate mortgage
It depends on the product, they adjustment periods for different intevals. Call me; I am local here in Tijeras as well :) Rates differ between programs. 505-286-3071

can lenders compromise on debt-to-income ratios for FHA mortgages?
You can usually exceed the standard DTI qualifications with compensating factors. As a Fannie Direct Lender, I do not have the overlays for DTI as most lenders do. So if the automated system allows you to exceed the limits, then I do as well. Your question does not indicate whether it is a purchase or...

What are our chances of qualifying for a new home with my husband only being at his current job 6 months?
Since he is tranferring jobs and most likely the same career, this will not be a worry for you. Time goes fast and I would recommend getting prequalified NOW to make sure there are no surprises so you can move assured that you will be moving to a new career and new home without reservation. It's as easy as...

How much of a down payment can be a gift for a conventional loan home purchase?
Everyone here seems to have the correct answer with the exception of a few. But yes it can be gifted but you may be required to contribute some of your own funds based on the entire situation. I am LOCAL here in Tijeras with you and would be happy to sit down with you and go over several programs available to...

Can I transfer a mortgage from being my name to only being in my spouse's name?
You would need to refinance it with qualifying on your own. I am right here with you- live in Tijeras as well. My office is local. Let me know the specifics of what you are trying to do and I will get you through it easily enough. Kelly 505-286-3071

is it possible to refinance when you owe more than the home's value
Yes- It is a HARP loan or you have do a streamline loan depending what type of loan you currently have in place.