Financing—questions & answers, advice and opinions page 100

what do I need to do to be pre-approved for a mortgage loan?
I have an annual income of $30,250 as a first year school teacher
Can closing costs be rolled into a VA loan?
My daughter is planning on buying a home in SoCal. Her husband is in the Navy. They do not want to put any money down, thus they planned to use his VA. Their realtor has informed them that if they want…
I'm looking for a home in Sugar Land, tX area.
I'm a recent immigrant and only have US work history for the past six months. My credit is 709, I can put 25-30% down, pl help me to get the mortgage.
Stafford vs. Sugar Land...What is the difference in the tax rate between Stafford and Sugar Land (Riverstone)?
What's better Sugar Land or Stafford? I need to know how much more taxes I will be paying on a $400,000 dollar house per year.
Condo lender for Plaza Del Prado bldg South, Aventura, FL?? Condo has pending lawsuit, HELP
Any lenders that will lend in the Plaza Del Prado bldg South, Aventura, FL?? Condo has pending lawsuit, I have a buyer ready but no lenders? HELP
I want to work for an asset mangement company...as an asset manager. I was in the mortgage biz for 20 years and I want to work out of my home. Anyone?
I hear that banks out source this and the asset management companies hire people to work out of their homes. I have worked out of my home for 20 years and would like to continue. I would also like to…
Is financing available for foreign nationals intending to buy a RE property in the US?
I am a none-US resident, don't have either SSN or ITIN, only have valid B1/B2 visa. Studying a possibility to by a piece of investment property in the US. I am ready for rather high down payment requirement,…
Looking for a private lender to buy a co-op in Jackson Heights??
A few years ago my husband co-signed on a mortgage and the house was sold on a short sale a year ago. Now my husband and I are looking to buy a coop and we are not able to get a loan through many lenders.…
I am looking at a multi unit apartment property that I intend to occupy as my principal residence. I have excellent credit and the amount will be
below 200k mortgaged. What kind of down and interest rate can I expect on this? (760 credit rating)
My boyfriend just lost his job. Can a single income get a loan?
My boyfriend just lost his job. We were planning to buy a house in sept and go for preapproval within a few weeks. Well, now everything has changed. I told him to wait until August to look for a job…
I am being evicted from my apt for nonpaymen.Lived here 5 yrs. No problems until spouse broke his ankle. Needing to rent to own.only rental problem.
We have been good teents here for almost 5 yrs. My husband broke his ankle in Dec. We fell behind and are now being evicted as of 3/30/11. We are looking for a second chance with a rent to own property.…
Me and my fiance are are looking into a home that qualifies for the renovation homepath program.
We want to know what does the renovation cover? Fixing the home I mean? Can anyone help with this question?
How can I get the best mortgage possible on a 2nd home which will be used as a primary residence? Should I pay off the mortgage on home 1 in full?
I already own a rental home with a stable tenant and collect rents which cover the mortgage (but not property taxes). The mortgage balance is currently $135,000. I would like to buy a new home for approx.…
Owner of the house I am living in is willing to sell for way below value. My score is 600 and I am a vet with great income. Dont want to miss. Advice?
The owner is upside down and is looking to get out of mortgage by selling to me. I am paying high rent so I can afford a mortgage of $2200. My score is slowly creeping up. Been on time with everything…
0 downpayment?
Can I buy a home with zero down? My credit is great, I have a tenant already and good income.
2% origination fee question.
I am in the process of purchasing a condo in SoCal. It is 140k - I am putting 20% down and have excellent credit scores (790). When i got the GFE from my mortgage person, they started with a 3% origination…
Can chfa loans be obtained for buying homes at auction like a hudson and marshall auction?
We wont consider a hudson and marshall auction because their terms and conditions state injury to the seller or buyer if they have a failure to produce the amount owed at auction. However, we would like…
How does age factor into a lender's decision about financing a home purchase?
into a mortgage decision? I have no plans to retire any time soon but think it is unrealistic to count on being able to work until 70 or beyond. How do lenders look at a situation like mine?
Anybody having challenges with FHA loans on Foreclosure property?
Lets hear the issues so others don't get caught in same trap--
What's the best way to find a good rate (along with good customer service) for a VA loan?
I was pre-approved for a VA loan at Quicken Loans. My offer for a short sale was approved by the seller. Now, as I wait for lender approval, I have time to shop for a loan. Do you you have any…
Just got my copy of appraisal for a refi but I don't understand it. The appraiser valued my house lower than the avg. of the adjusted comps
value? He included 4 comps (3 sold, 1 active listing). I thought the point of comps was to adjust compared to the subject property and then use the average of the adjusted values to value the subject property.…
MODULAR HOMES
LOOKING TO PURCHASE A LOT AND PLACE A MODULAR HOME THERE? WHAT IS THE LEAST EXPENSIVE WAY TO FINANCE THIS?
Is it Loan Fraud to rent recently refinanced FHA property due to job relocation?
We have owned a home under a FHA loan for 4.5 years. We are at the final stages of refinancing the home and my work has just informed me that I could be relocating to another office out of state in the…
HELP! I am trying to find a lender or broker who can assist me with refinancing my mortgage - post Chapter 7 filing and discharge in 2010 - Live in NJ
Also, would be interested in a short-refi program if possible - Have been told I have to wait 2 years for any refi program (short or conventional) but have also heard it can be done, willing to consider…
What are the appraisal trends seen in the Ft. Myers area after constructing a new home? Are pools and upgrades fully considered in the appraisal?
My fiance and I would like to add a pool into our mortgage for the home we are building, but we have heard that some appraisers do not fully consider the amount spent on the pool or the additional upgrades…
RENOVATION LOANS ADDITION
LOOKING TO PURCHASE A HOME USING THE USDA PROGRAM. WILL NEED TO ADD AN ADDITION TO IT WHICH WAY IS THE LEAST EXPENSIVE WAY TO FINANCE THIS? WHICH BANKS ARE FINANCING THIS?
Can I look for a house while I'm resolving my credit history?
I only have like $2,000 of negative history left and want to get my children in a home soon. I can pay this soon so should I wait until my score is up again eventhough I make a pretty decent salary now…
If I get multiple loan quotes will my credit score go down? Each time I request a quote is my credit report pulled?
My wife and I want to buy for the first time this summer. We will probaly go with an FHA.
where can i find a septic contractor who will finance in oelwein ia…?
need a septic replaced because the one we have collapsed and nun of the banks will do a 4500 loan because of credit .
Is there any recourse if a mortgage broker tells you he can't honor his "unconditional" mortgage commitment?
We were told 3 days before closing that the broker couldn't fund the loan but could get us another loan, on time, but at a higher interest rate. We were stuck and had to take it but now pay over…
Refinancing FHA to an investment property? Can you please tell me if there are any flaws in the following scenario? Anything I missed?
- Bought our townhouse with FHA @ 150k 16 months ago. Legitimately owner-occupied. I just really want a SFR soon. - Made some minor improvements such as nicer paint, better flooring, appliance upgrades,…
Who are the seasonal mortgage lenders in maine?
I am a mortgage broker and my name is Eric Sharkey. I am trying to help a gentleman refinance his seasonal property here in Maine and Provident Funding has recently stopped financing those types of properties.…
I need a small loan on a mobil home.does anyone handle these?
There is no realestate involved in this sale. It is in an up scale mobil home park.
What is the law about investors allowed to have only four mortgages?
My bank says we can have only four mortgages other than our residence. We own 10 properties. When did this happen and was it a federal law or what? I'm working with Congressman to get changed.
Do lenders care about owner occupancy for commercial loans?
Real estate financing question:  if I want to buy a 5-10 unit property and commit to living on site (owner occupancy) does it help me at all in securing a loan?  Or does the bank not care one way…
Anyone with advice against or for Rent to Own or Land Contract options?
My fiance and I are possibly interested a Rent to Own or Land Contract option in central KY (30-45 mins to Lexington, max) but unsure of the process. We moved from Virginia and have been renting for approx.…
Is it possible to obtain 30 year mortgage for investment properties for overseas investors?
I am an Australina with an investment property in Memphis and I am looking to buy more properties using the equity I have.
Are there any local lenders that will refinance investment property at >80% LTV?
I have a duplex just north of the Greenwood Park Mall that I have owned for nearly 7 years. I have 2 mortgages that I would like to refinance into a single loan. Any local lenders that will refinance…
Desperately need help financing a multi unit residential property
Good Morning everyone!  I am having some financing issues that I could really use some help with.  Quick back story: My wife and I had to quit our jobs and move to another part of the state due to…
How may a potential buyer get a loan if his credit is not perfect?
I saved my mother's home only to lose it because she had congestive heart failure and lost it after I had put $ 45,000.00 into it which affected my credit rating not my mother's. Also my sister…
House in GR Mich- only needs appliances- MSHDA loan for 1st time buyer? DP loan program too? Not sure Flagstar is helping all that much! MSHDA rate?
Looking for first time buyer- thinking that MSHDA is the way to go? Also read about their loan downpayment program- I think I qualify for that too? What are MSHDAS rates today? Website shows Sept 2010-…
What are the requirements to qualifing for a FHA loan?
And is there a chance of being rejected if I having started a new job?
Which motgage companies have the easiest FHA approval process?
We have some past credit issues; chapter 7 bk discharged 1/2008, a few late payments on a student loan after the bk, perfect credit for about 20 months now, current credit score about 650. Thanks so much…
House Value on Zillow and other sites
I think my house value on zillow is extremely low. Houses next door to ours are 40-50K more. Mine is larger and updated. I believe this is the only number the bank is looking at. What can I do?
I was on disability 3 months in 2010 & want to know how a mortgage leneder will caculate my 2010 income. I will make less than if I worked.
I make about 90K a year, but made less in 2010 because I was off work for 3 months. I received disability, but it was less than my normal gross pay. The disability payments were about the same as my net…
What do you think about the city bank proposal to lower the mortgage amount due?
This morning 1-19-2009, I heard about City Bank's plan to lower the principal amount on existing mortgages to bring those inline with actual present home values.This in order to reduce foreclosures.There…
Seeking Self Employment Financing Options
Hello, My wife and I are relocating to Iowa in a few months and looking to purchase a home. I'm self employed and have been in business for the past 3.5 years and in the same industry for 5 years.…
First time home buyers grants/down payment assistance for Chicago Police Officers?
I am trying to find out if there are any first time home buyer's grants or down payment assistance for Chicago Police officers. Any of your clients took advantage of them?
I would like to compare a 30 year mortgage on a loan of 192,592 at 5% to a15yr loan at 4.735%. If I pay extra on the principal of the 30 year loan
how many years would it take to match the rate on the 15 year mortgage and how much extra per month?
Is an interest rate of 4.75% reasonable in the current market?
We are first time home buyers and have been pre approved for a VA Loan for $180,000 but are going to spend much less than that, around $130,000. Also, Should we do a fixed rate?
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