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Let Mike Warsop with Gold Mortgage Banc answer your mortgage questions

Mike Warsop,
Loan Originator for Gold Mortgage Banc

In today's market, obtaining a mortgage has become very complex. Our company aims to ensure that obtaining a mortgage is made as simple as possible. Whether purchasing a home, refinancing to a lower rate, consolidating debt or needing a second mortgage, I am committed to helping my clients obtain the financing that best fits their needs.

I also have 17 years of mortgage experience. I can help those with great credit or those with poor credit. I can help you get your loan funded in as little as 10 days. Please apply online today, and I will get back with you within 24 hours of your application. Let me help you get back on track with several debt consolidation and credit rebuilding strategies.

We are licensed in most states.

Let the mortgage expert answer your questions in our forum.

913-643-2518-office
866-648-9006, Ext. 2518 -toll free
913-643-2169-fax
913-244-9612-cell

15095 W 116th ST
Olathe, KS 66062

Email: mikew@gmbmortgage.com
Website: www.mikewarsop-mortgageexpert.com

Most Recently Answered Questions

Questions 1 - 15 of 3882 (Page 1 of 195)

Submitted by tameka from euclid ohio

Q: what should my credit score be in order to get the lowest interest rate

Answered 05/15/08 10:43:51 by Mike Warsop,
Loan Originator for Gold Mortgag

A: Over 720 will afford you the best rate but as long as you are over 620 with fha you won't see any rate reductions but on conventional anything below 720 will make the rate a bit higher.

Submitted by tameka eady from euclid ohio

Q: do i have to have my insurance include in my house note.also

Answered 05/15/08 10:42:46 by Mike Warsop,
Loan Originator for Gold Mortgag

A: If your loan is over 80% loan to value, FHA, or a fannie mae or freddie mac expanded approval then you must have your taxes and insurance included in your payment.

Submitted by Heidi from Wausau WI

Q: hello, My sister has a morgage on a house with an ex boyfriend. He has moved out over a year ago and she is paying the morgeg, taxs, and insurance. How does she get his name removed from the papers?

Answered 05/15/08 10:41:45 by Mike Warsop,
Loan Originator for Gold Mortgag

A: She will have to refinance the home and get him to quit claim his right to the property.

Submitted by Anthony from New York

Q: Hi Mike, My wife and I are looking to buy a house in two years in surburban Atlanta. The current price of the home is $157,000 (although this may change in two years). My score is 644 and hers is 590. We make $100,000 total, have student loans and she has a car loan out now (3 years left). Are we eligible for any mortgage loans and if we are, what type and how much of a down payment should we look to put down? Thanks

Answered 05/15/08 10:40:59 by Mike Warsop,
Loan Originator for Gold Mortgag

A: FHA would be the loan that would allow you the smallest down payment and that would be 3% --- give me a call if you have any further questions or decide to move on the house earlier. My number is 913-244-9612. Thanks, Mike

Submitted by d stanley from raliegh nc

Q: who is responsible for inspections when buying home: termite, septic, etc.

Answered 05/12/08 12:23:54 by Mike Warsop,
Loan Originator for Gold Mortgag

A: the buyer is responsible for these-- on new home purchases for fha a termite will be required

Submitted by derrick from jonesboro, ar

Q: If I am trying to buy a house and ask the seller to pay the closing costs. Why are they attached to my purchase price?

Answered 05/09/08 14:01:25 by Mike Warsop,
Loan Originator for Gold Mortgag

A: They aren't attached to the purchase price Derrick, sometimes the seller wants to increase the purchase price by that amount because they come out of their proceeds from the sale--if you have any further questions then feel free to call me at 913-244-9612. Thanks, Mike

Submitted by Suzy from Ocean City, NJ

Q: My husband has pretty bad credit, but mine is excellent. We are looking to buy in about a year and a half or two. Even in that time frame, there is no way I can get his credit to par - yes, it is that bad:) . Can I claim his income, and only put the house in my name? Would I personally need a job for that, and how long would I have to be working there. We are planning on putting 20% down, so I thought that would help. I just want to get the best interst rate possible. Thanks.

Answered 05/09/08 14:00:19 by Mike Warsop,
Loan Originator for Gold Mortgag

A: Hi Suzy, If you claim his income then he must be on the loan---you are going to need a 2 year job history to be able to count your income---fha only really cares about the last 2 years so you should be able to clean up his issues in 24 months. Mike

Submitted by D from Hoosick Falls, New York

Q: I am in a forebearance and and getting behind on that due to my husband not working. My husband made a agreement to double up on the payments for two months before he lost his job. I am afraid now to tell them he is no longer working. What can happen if I do? IS there anything else I can do?

Answered 05/07/08 10:38:29 by Mike Warsop,
Loan Originator for Gold Mortgag

A: You need to be very upfront with them because if you break the forebearance agreement without talking to them they are more than likely going to start foreclosure so call them and tell them the issue and see what they can do for you.

Submitted by Linda from Baton Rouge LA

Q: We want to pay off our mortgage loan. My loan company tells me that if I wait until May 30, I'll have to pay 2 months of interest. I don't understand this. Would it be better to pay it off June 1--in other words--the beginning of the month as opposed to the end of the month?

Answered 05/07/08 08:33:16 by Mike Warsop,
Loan Originator for Gold Mortgag

A: I guess I don't understand either, is there a pre-payment penalty? If your loan is conventional then the interest that you owe will be from the time of your last payment to the day that you pay it off but if it is FHA then the interest is pre-computed and you will pay a full months interest for each month that is due on the loan.

Submitted by Teresa from bakersfield ca

Q: My Husband and I live in a house that is not in our name and we are not on title but we pay the mortgage to the owner If we get put on title can the actual owners be taken off and the house put in our name?We both filed Chapter 11 back in 2006 so our credit is not good. The owners now have made late payments often

Answered 05/07/08 08:30:52 by Mike Warsop,
Loan Originator for Gold Mortgag

A: This would not be possible--the only way to take the owners off the loan is to pay the current loan off and get a loan in your own name---so you did a business bankruptcy, what do you do for a living now? you will need to be 2 years outside of your bankruptcy discharge and have re-established credit and a credit score of at least 580 to qualify for a good home loan. Mike

Submitted by David from Indianapolis, IN

Q: Hello. I was in Chapter 7 bankruptcy from 1994 to 2004 and there is no evidence of this bankruptcy on any of my credit reports. If a mortgage broker asks me "Have you ever filed bankruptcy" can I answer "no" since it has been expunged from my public credit history?

Answered 05/05/08 00:32:20 by Mike Warsop,
Loan Originator for Gold Mortgag

A: The question is have you filed bankruptcy in the last 7 years and you haven't so your answer should be no. I would love to help you with your mortgage transaction so if you are interested then feel free to contact me. Thanks, Mike

Submitted by BONITA from CHINO cALIF

Q: I PLAN TO BUY A HOUSE FOR 339000 FHA LOAN . WHAT IS THE NEW RATE FOR FHA.

Answered 05/05/08 00:31:12 by Mike Warsop,
Loan Originator for Gold Mortgag

A: The going rate for fha is right around 6% and feel free to contact me if I can help you with this transaction. Thanks, Mike

Submitted by Anonymous from Charlotte,N.C.

Q: We recently are trying to refinance our mortgage loan. The company we are going through are charging us alot of money. They are charged us $4100.00 dollars that they are saying FHA loans chaarge. We are concern with this because it is alot of money. Is this charge legal or are they charging us to much? thanks, Murrays

Answered 05/05/08 00:30:18 by Mike Warsop,
Loan Originator for Gold Mortgag

A: Hi Murrays, I don't what charges they are but if it is origination, discount or any other junk fees then this would be wait of whack---feel free to give me a call and perhaps I can get you a better loan scenario. My number is 913-244-9612. Thanks, Mike

Submitted by renae Riley from lantana, texas

Q: We are ready to pay off the loan on our house. When we called, the bank said there would be several fees for us to pay this off. So, we are being penalized for actually paying the loan off it seems. Is there any way around this?

Answered 05/01/08 17:32:41 by Mike Warsop,
Loan Originator for Gold Mortgag

A: Hi Renae, What are the fees they are charging? Was there a penalty for paying the loan off before a certain time period? Are there fax fees? Late charges? I can be better help for you if I know what fees you are speaking about.

Submitted by michael soto from kissimmee,fl

Q: i have a home clear and free, i would like to know if i can refinance it or how can i get some of my equity out.

Answered 05/01/08 09:21:45 by Mike Warsop,
Loan Originator for Gold Mortgag

A: Hi Michael, Yes you can refinance your home to use your equity and the amount will depend upon what you qualify for by your credit score, value of home, loan program, ect. If you have any further questions or I can help you then give me a call at 913-244-9612. Thanks, Mike

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