Mortgage Loan Officer Gustan Cho
Mortgage Loan OfficerForum Replies Created
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Thanks for your reply my man. I appreciate you as well as our whole team. Bottom line is currently has a VA loan on 81 acres. Ww got an approve/eligible with a $1,000,000 cash out at 7%. Borrowers current rate is 3.0% on $713,000 VA loan. Doing a cash our to pay outstanding debts. Perfect credit no late payments in the past 5 years. Of course any loan officer would love to do a million dollar cashout refinance. However, I don’t think it’s ti the best interest to my Borrowers not to explore keeping the first and pricing our a second mortgage to piggyback the first up to a 70% CLYV. W2 Wage earner. Makes all the sense in the world despite there is no common sense in the mortgage business. Talk to Sir Rudy and see if you guys are interested in making this happen. Thanks Cameron LeClair
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So gift of equity on VA loans is basically fir closing costs since VA offers 100% financing. If you get seller concessions you don’t even need the gift of equity.
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What if you sell hay from your property. Is it considered a working farm?
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I have this UTAH PLM practice test form Mortgage Educators. Great practice tests but only 150 questions. I also have the AX5 practice exam from OnCourse Leaning.
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I highly recommend Wendy Lahn. Wendy is the best attorney I know but her main focus is loan origination, and real estate. Wendy would not be offering any products or referring anyone unless she has fully vetted them.
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What is you cut your field and sell hay.
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How does FHA loans work with gift of equity?
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A lot of house for the money. Location is key. Get homes in A or B class neighborhoods and not the ghetto.
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I missed the dam thing by two questions today. I need practice exams. Let me know if you can get a hold of UTAH PLM practice exams. Lots of questions about fines such as maximum daily fines, maximum daily fines, APOR, ARMs, and a lot of bull shit.
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