Financing—questions & answers, advice and opinions page 126

options for downpayment
We recently sold our starter house knowing we would not have any equity, but also walking away with out owing any money as well. The area is going down so we felt in our best interest to get out if we…
Is a quit claim deed needed to remove a borrower on a FHA REFI loan?
This is a condition that one of my past customers got on their refinance. They don't want to give up ownership unless removed from financial responsibilty when refi closes. Lender is asking for this…
I was told by my loan officer, my loan was approved and the loan processors would call me. my loan was denied and I have not received a letter
Pre-approved and went into contract. BofA consistently made conditions to the loan and my wife and I met all request. I was told it was approved by my loan officer after I told him I was seeking an alternate…
We are considering purchasing a townhome in Henderson NV, will interest rates be higher for us since we have a home in Colorado already ?
We live in Colorado and will split time between the two states at least 50/50. The townhouse will NOT BE used as a rental property when we are not there. Eventually we will decide on which state to make…
How long after closing an FHA loan is the first payment generally due?
I'm really close to being ready to buy. I even have my eye on a few places. But, I will need an extra 60 days to buy out my lease. I can do it, but I'd rather not be paying both payments in…
I would like to get a 100% USDA rural financing loan today. Can anyone help me w/this?
Also, what are all of the qualifications and what areas are considered rural?
Types of loans...
I am looking for a home loan on an older home that we plan to fix up and rent out the top floor, what type of home loan would I need?
Are there any changes coming in Healdsburg? Zoning, projects etc
I am looking for fixer upper properties in Hea;dsburg-how do I find them? What is the outlook for the future development of Healdsburg?
Lenders won't approve for conventional due to condition condo is in? My fiancée and I are buying our first home and have decided to go with a
condo. We found a place that fits all of our needs and wants and have already been preapproved for a conventional loan and have 20% down for the price ranges we are looking at. The owners of the condo…
do I qualify for fha refinance ?
i am underwater on my mortgage . do I qualify for fha refinance ? our income is in the 200K range . is the 125% of home loan value loans availabe ? the only reason I want to go for fha efinance is because…
State Housing Authority suspended my loan because I have my parent's name on my bank accounts. Why?
I closed on my house a few days ago. I have the keys and have started cleaning the mess left by the sellers. Now I get a message from my mortgage broker saying that my loan has been suspended by the Housing…
Has anyone had any experience using American Interbanc Mortgage?
I'm considering using American Interbanc Mortgage, but I've never heard of them. America's Watchdog has good things to say about them..
American Interbanc feedback
has you used american interbanc before? what was you experience? thanks
As a potential first-time home buyer, can it qualify as my "primary" residence, not "secondary"?
I teach school on a military base in Germany for the federal government. I can only return stateside for 2 months per year. I rent my home here. I have never bought a home nor do I own landed property.…
private investor financing
pros and cons, have apx 1/2 of loan amt and have been offered financing by private investor. Can't go conv/vha at this time.
I am trying to find a lender for FL that does FHA loans with a FICO of 580. Can anyone help me?
We have been making great strides these past four months with our credit. Our lender told us we were 5 pts shy of having the FICO needed, and that next month (October) we would have it no problem. Now,…
FHA commuting exception for a second FHA financed loan?
Has anyone sucessfully been granted the FHA exception for the purchase of a second home due to an "unreasonable commuting distance"? If so, what were the contributin factors? I have just…
i want to buy a second property as an investment should i buy it then live in it and rent out my existing property?
My wife and I live in a 3200 sq ft home and have found quite a few good deals, however they are smaller homes, approx 1800 sq ft. We have been told that "Home Path Mortgage" will give you special…
Like to get prequalify for a home loan 100000 thousand
Are you looking to buy a second home in Florida on the five-year arm
My wife lost her job. We want to refinance the house to lower the mortgage payment. But my name was not on the loan. Can I do the refinance now?
We both own the house from the beginning. When we refinanced the house 6 years ago I had a very high debt ratio. So, I took my name out of the loan.
What all should be taken into consideration when trying to chose a lender? What questions should be asked to help me choose?
I was told that I should get at least 3 pre-approvals but I don't want to keep having my credit run. Are there initial questions I can ask to help me narrow down the list and eliminate companies before…
Construction loans
How to get construction loan for land purchase and building home in Northern VA? Any leads is appreciated. and Thanks.
Considering a fannie mae reo, homepath renovation motgage.
Considering a fannie mae reo, homepath renovation motgage, can i get this for now and refi with conventional/fha in 6 months since the conv/fha has better rates?
I am self employed with a net income of approx 120K. I am looking to buy a home in California... would like?
to look at a price range between 400-500K. My credit score is almost 700. How much will i need down on a stated income loan? what kind of rate can I get? Is the increased conforming loan amount apply to…
Are there ANY stated income loans available in Ohio? I currently have two-family rental property that I purchased using stated income. My credit
report shows great payment history on all of my acounts. However, I've been using my credit cards this year to start up a business this year. This has brought my normally 700 credit score down…
What's a realistic loan amount to expect for a home, with a 525 credit score and $20k cash? Or with a 650 credit score and $20k cash?
Well, I've been out of work for over a year with a back injury and am expecting a hefty settlement next month. I figure after taxes/lawyer fees $20k-$35k. No job until after court next month probably. My…
Does the Property have to be move in ready for FHA/Conventional mortgage to be approved?
I am looking at a foreclosure which requires some fixes, will i get a loan - FHA or Conventional? Do i have to do 203K? i am OK to spend money from pocket to fix it!
Thinking of purchasing a 2nd home and see down payment requirements all over the map (10-50%) - what's a realistic number?
I love Palm Springs, I want to get a small vacation/rental place that I could eventually retire to, but I'm completely new to the process and not sure that I have the $ to do something like that;…
in the past monthmy husband & I have been the victium of bank fraud and I had comfirm identy theif and my
husbands possibly. His credit score has dropped to 520 . We are still waiting on the report on mine, all my info is frozen, due to ongoing investation by the FBI Bank and other federal agencies. my husband…
Is the MIP on an FHA loan based on the initial loan amount, or does it adjust as the principle is paid down?
For example, if I put 3.5% down, my MIP will be .55%. Once the principle is below 95%, will the MIP be adjusted to .5% of the current principle, or will it stay at the original amount? Thank you!
Need to buy a house but need a mortgage but on an E2-Visa
I recently moved to Orlando, Florida in 2009. I currently own my own business with a turnover of $249k in 09, net $43k and paid ourselves $79k for09. 2010 taxes will be completed shortly and should see…
I need some help!! Does any one know if lenders are been more flexible with Conventional loans when it comes to the condition of a house??
I have been selling $40K to $50K homes to cash buyers but when it comes to FHA buyers, my deals are falling apart because the appraiser says the house needs repairs. Have you experience better results…
I am now on ssd. Is there a company or agency that would refinance my house at a lower rate?
My income has dropped over 50%. I've been neglecting my health to pay the bills. In 3 months my income will drop another $800 a month. I will not be able to meet my financial obligations. My house was…
is it possible to find out what houses in my town have sold for in the past 2 years?
we are trying to find out if our home value had decreased since the last appraisal before trying to refinance
I was appointed an EPH lab fellowship at Cal. Dep. of Toxic Subs Control (Env Chem Lab) for 2010-2011 with an annual stipend paid biweekly. (it is
like a post-doc basically). I dont get a W2 since it is NOT considered a salary but I do get biweekly pays and I have a year contract (which may be extended to two years). I was told I do not qualify…
Do I qualify for a first time home buyer 50K a year under a first year of a fellowship/post-doc? Thanks.
I was appointed an EPH lab fellowship at Cal. Dep. of Toxic Subs Control (Env Chem Lab) for 2010-2011 with an annual stipend paid biweekly. (it islike a post-doc basically). I dont get a W2 since it is…
denied re-fi-. appraisal came in 17,000 lower. appraiser measured inside walls for sq ft. that is wrong. home is larger than she stated. help
appeal was denied. they asked for proof. I have it now, but now they won't look at proof, won't return email or phone calls. broker said got to appraisal board or bbbk-that she cannot do anything…
we're under contract on a real fixer-upper, and we have an fha loan. what if the seller won't take care of items like the roof, or rotted?
deck? We knew this house needed lots of work when we offered on it, but the seller's disclosure said there was an insurance claim on the roof. Our home inspector says the roof, rotten decking, damaged…
Unique Situation: Can my wife qualify for a $50K-100K mortgage with $250K down.
We have $250K from the sale of our last house to put down and would like to finance $50-100K on our next home. Due to the freefalling economy early last year I was laid off from my $120K/year IT consulting…
Question for mortgage professionals only
For the state of Michigan, does the USDA Rural Development Guaranteed mortgage differentiate between townhouses and condos? I've been told that condos have to be on the FHA approved list (which is…
Will filling out an application for an apartment affect my loan refinancing application, which is in the underwriting phase now?
I submitted an application for a refi - they have all my paystubs, W2s, they pulled my credit and did the appraisal. The loan officer said it's in the underwriting queue now, which could take 5-8…
my fiance and I were pre-approved for a mortgage loan (FHA) but he just recently had a judgement for medical ($1300) placed against him....options?
What are our options? We will still be able to get the loan? If we pay off the judgement will we still be able to get an FHA loan?
Hi I am inerersted buying a bank own condo and it will be a revenue property. Is possible to get a morgage at all ? house I am looking
at http://www.trulia.com/foreclosure/3023009545--S-Maryland-Pkwyb4-Las-Vegas-NV-89119 my email address: kieu_nghiem@yahoo.ca
I am looking for a no cost refi for a investor owned 3 flat with low payments
The existing principal is $300k on a value of $500k. I am looking for the lowest monthly payment possible for the next year or so. I would do a short term ARM, I/O, or even a teaser rate program if anyone…
Will I have trouble getting a mortgage after I sell my home and move to a new community?
I am retired receiving both pension and Social Security with above average investments.
20% or 25% down as Fannie mae guideline on a 3-unit primary residence property in NYC for loan amount 589000.00
Bank gave me GFE based on 20% down for conforming loan of 589000.00. Now they came up saying I need to put 25% down as per Fannie Mae Guidelines. I researched and could not find these guideline anywhere.
Wondering - is there a limit to the number of homes I can buy for conventional loan? I am just exploring and would like to weigh in the risks/risk
Wondering - is there a limit to the number of homes I can for fha/conventional loan? I am just exploring and would like to weigh in the risks vs. returns vs. time investmnt Does it matter where I buy? What…
Is it possible to get a cash out mortgage right now on a non-warantable condo?
Last year I bought 2 units in a building that was in bad shape. Now, all the units that were in default have been sold, the HOA is fully functional, and things are as they should be. However, the buidling…
In the process of amending our bylaws, we would like to know what the ideal unit owner-rental ratio should be? We have an 8 unit complex w/ 3 rented.
We are in the process of amending our bylaws to put rental restrictions in place. Currently 3 of our 8 units are rentals (2 owners live out of state). Another unit owner is trying to sell his unit, but…
credit score
AM trying to purchase a home which we r in escrow just about to close my agent ask for me to pay off my collection and add my self to some credit card to boost my score. Which i did !!! Nothing has reflected…
Filing Bankruptcy and Attorney stated: Best approach is to take your NAME off the NOTE and not the DEED. What does this do? Do I still own? Pro/Cons?
This would be done before Decemeber. What does this really do? We are upside-down 100k ( ) on the home and just cannot walk away - we love our home. Citimortgage may work with me? Anyway - the home needs…
. How do we get a mortgage when we already own a home with no equity?
We owe more on our home than it's worth. Selling at a loss is out of the question.We'd like to purchase a much cheaper home since my income will drastically drop if my husband dies. We have been…
Would I have to obtain a larger mortgage? I purchased a home in April of this year for $350,000 and it appraised for $350,000.
At that time I obtained an interest rate of 5.25. I am looking to do a refi. The original loan amount was $272,000 since I put 20% down. A second appraisal needs to be done since 90 days has expired.…
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