Financing—questions & answers, advice and opinions page 54

What are the qualifications to acquire two mortgages? i.e. credit rating, income, percentages
We are interested in renting out our current home and moving more North to be closer to my husbands work.
FHA loans in NY?
What do you need in order to qualify for an FHA loan or any other loan where the downpayment is no more than 5% in NYC?
1 year after we did a short sale and looking for options. I pay 2000 a month rent and have credit score over 700 and my wife's score is over 740.
We make over 140,000 and have some credit debt since we can't build our scores without debt. I'm looking to buy a cottage for us to use when we retire and become snowbirds. She was on the deed only and…
First time home buyer...
I need all of the information I can get. Where do I start? What questions do I ask? What scams should I be aware of? Any information would be great, thank you!!
How can I found a 100% finance morgage?
I am a first time home buyer shopping around for the best morgage. How can I find morgage companies that offer 100% financing?
What should a first-time home buyer do to secure the best interest rate possible on their loan?
Clearly educating yourself as much as possible is key, but how many different people should you talk to? Who exactly should you talk to? Are referrals enough?
Hi, I got a CHFA loan in 2007 and am thinking of renting out the house and moving in with my wife in her home. Am I allowed to rent out the property?
My house is obviously worth less than when I bought it and figured I could save some by renting it for 5 to ten years hoping it recoups some value.
Is it possible to get approved for a conventional loan on investment property even though I have an FHA loan on my current house?
Wondering if they would make me pay down my current home instead of taking out a conventional loan on an investment property?
If I currently have a FHA loan on my home and wanted to purchase a second home for retirement is it possible to obtain a second FHA loan .
If I currently have a FHA loan on my home and wanted to purchase a second home for retirement is it possible to obtain a second FHA loan if I rent the first home? And if so what would I need to do. Or…
I was pre-approved last summer for a great no-doc but now I need a new prog.
I was pre-approved last summer for a great no-doc loan program but when I came up with the required 5% down, the program had disappeared. I know certain lenders still have these no-doc programs with a…
Is it really an FHA requirement to have the actual tax transcripts? Or is this a lender requirement?
The lender (BBT) just announced to me they haven't been able to obtain my parents (coborrowers) 2011 tax transcripts. And the underwriter will not sign off until that condition is closed. The taxes…
Which type a loan, would best suit my purchase?
We are buying a house out in Sandy. We are buying in for $192,000. We have a little more than $4,000 in cash. We have been approved for an FHA loan and a USDA loan. Also we were going to apply for the…
I am trying to get a FHA loan.
I can qualify on my own credit wise and DTI without including my wife in the loan. I'm trying to find out if I am still eligible. My wife who is in the military bought our first house in '08…
Do any lenders here work with the Fannie Mae delayed financing exception program (pages 220 –?
222): https://www.efanniemae.com/sf/guides/ssg/sg/pdf/s My name is Neema Tabar and I’m an investor based in California, currently investing in Atlanta Georgia. I’m purchasing bank owned…
Can I refinance if my loan is about 100k under?
I am in a terrible interest only loan, 6.5%, going to adjust in a few years. I feel like I'm throwing my $ away every month (2,052!!). My bank won't do a refi due to our income to debt ratio.…
Has anyone requested/dealt with FHA loans for people with around 3 years of good credit history (FICO ~700)?
Im a new U.S. permanent resident card holder and in my mid 30's. I have between 5-10% of down payment.
Financing Options for International Couple
I'm wondering about financing options for an international couple looking to buy a home in the US (one is a US citizen and graduate student with little to no income, the other a foreigner with a steady…
What are the best Home Mortgage Options for Primary Residence $460K with 5% down and a 800 Credit and $11K monthly income in MN?
(Oct '12) I am trying to purchase a home that is $460K and I want to place 5% down. I have a 800 credit score with ~$11K monthly before tax and just a $200 college loan for monthly payments (I have…
Unable to sell wants to buy in Ocala 55
We would like to buy a home in a 55 in Ocala. We haven't sold our home. Where can we get finance? We are on Social Security plus part-time work. Any ideas?????
How to qualify for mortgage?
I have a student loan but the payments are not listed on the credit report.I've contacted the lender to get documentation but they will not send me anything.How will the underwriter determine the debt…
Chicago Hard Money Loans?
Hello - I'm a General Contractor in Chicago. My father has an apartment building worth $2 million (5 - 3 bed, 2ba apts w/laundry, also a 3 bed, 2 ba house next door) that has little/no loans against it.…
Looking for lenders that will refi an investment property
need to pull out money from a cash investment purchase 2 flat that is currently occupied w/leases.
I am looking to refinance my mortage. Left our jobs because of major medical issues with both our folks. Have a small business that we are trying to
grow (put $10,000 into it in 2009) but it is not producing a wage yet. We are living and helping pay bills for the folks from an IRA which is killing us in taxes! Can we get a low refinance rate through…
Should I follow up with my mortgage lender or a real estate lawyer?
Given the extremely low interest rates at the moment, I would really like to refinance my mortgage to save money over the course of the loan and, if possible, on a monthly basis. My two mortgage loans,…
What should a first-time home buyer do to secure the best interest rate possible on their loan?
Clearly educating yourself as much as possible is key, but how many different people should you talk to? Who exactly should you talk to? Are referrals enough?
Need mortgage finance advice
I have a seller carry back loan that will mature in 6months and they have provided an option for me to pay out the loan = (Principal-Current Interest). I don't have the full capital to do this and thinking…
ITIN financing in Tampa or Fla (no hard money)
Hi, I'm a French investor that's been investing in Tampa for a 18 months. I bought 14 houses cash and am looking to refinance them. The houses are in a LLC, I have rental income (7k/month…
Any refinancing with reasonable rates and terms for Canadian owned investment property in Phoenix?
I am Canadian investor looking to refinance existing 100%owned properties in Phx to purchase more.
Buyer is late 6 months on second loan. What should I do ?
7 year @ 7% on $59,200.00 interest only
Are loans available for a non-owner occupied home for an investor who has not established credit?
Prospective buyer would like to buy an investment property in Auburn, CA. He has 25% for the down payment, no debts, good income but never used credit cards, car loans, etc.
land contracts in fenton
i'm looking for a land contract house up to 50,000 in or near fenton.i have no credit history but have 10% -or more depending on price-for a down payment.is it possible?
Can a HOA take out a loan for improvements in Texas and if so what steps must I take.?
I live in condo complex and we want to get the placed paved and have gates installed. The quote we got to do everything was 100K. Since it would take several years to save that money we wanted to take…
What should a first-time home buyer do to secure the best interest rate possible on their loan?
Clearly educating yourself as much as possible is key, but how many different people should you talk to? Who exactly should you talk to? Are referrals enough?
Is it worth adding heat to our finished attic to create two extra bedrooms (currently have a 3 bed, 1 bath) before we refinance?
We consulted with a mortgage broker last week about refinancing our 3 bedroom, 1 bath house. The previous owners finished the attic (not great, but livable) and there is an option for two more bedrooms.…
How can we get prequalification for a housing loan if we are new immigrant status in U.S A. and what possible documents we could present?
What other options that are possible with regards to making a loan if we don't have a credit history yet?
Investment Loan for Foreign National
I own a property in Phoenix which I purchased for cash, I want to refinance it so I can get some money back to purchase more properties.
Is securitization of a mortgage loan permitted by Illinois statute?
If so, how does a buyer prevent this from ever occurring?
I short sold my home in Las Vegas earlier this year due to a heath issue. Can I get a conventional mortage before two years.?
I had heart surgery two years ago and as a result of a long recover I had to short sell my home. Now my health is back to 100% and my Dr. agrees so I'm looking for new mortgage. I have over 20% no…
No Doc / Low Doc Refi or Heloc -- NO current mortgage 760/780 Score. SE Florida
SE Florida. Single family, detached home. Primary residence - owner occupied. House was purchased in May 2012 w/cash. House appraised for $460k. Borrower and Co-Borrower (Husband/Wife) have Credit scores…
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