Financing—questions & answers, advice and opinions page 97

How much for deposit?
For houses priced around 600k, usually how much do buyers put down as deposit (earnest money) in Bethesda area?
What financial Institution does hard money lending in Lansing,Michigan?
Looking to rehab a project that need more work than I thought and I want to leverage some working capital?
If i am married in the state of Arizona and i am trying to purchase my first home, do i HAVE to put my wife on the loan with me?
I only ask because her credit is less than what would be needed to qualify and with my credit and income i can qual by myself. I have posted prior questions and all your answers have been amazing. My…
I want to buy a new house and rent my current one and I am getting conflicting information. One lender told me as long as I have a lease on the
current one, he can get me approved for a new mortgage, another one is saying that I need at least 25% equity in my current own before I can claim rental income to get a new mortgage. They both swear the…
Can someone help us with a mortgage?
my husband and i both have credit scores around 632; we are 1st time home buyers; va eligible
Are 80/15/5, 80/10/10 or 90/10 still available in NY for 2 family houses?
We found a 2 family house but we're looking into purchasing with 5% down with excellent credit.
Can I finance the house together with my husband, but the title of the house will be only under my husband's name?
We are going to purchase a house. Can I finance the house together with my husband, but the title of the house will be only under my husband's name?
Are there any programs available for a First Time Homebuyer trying to do an FHA loan?
Im trying to buy my first home using FHA but im not familiar with what i need DP wise and credit score wise? Does anyone know if there are any programs that help the buyer with closing costs or down payment?…
Is PMI still required with 10% down?
Asking $300,000, puting down 10%.Owner occupied.
Who can get downpayment assistance?
I have read that if you buy a home for the first time in franklin conuty you can get downpayment assistance. What are the requirements? and is there any assitance outside of franklin? we were looking for…
Should retiree use a taxable IRA to pay off high credit card debts in order to qualify for the mortgage. Or better to use equity in home after selling
The IRA in question has balance of $220,000, half needed to pay off credit cards. Home equity after selling should be about $100,000. Paying credit cards would be immediate, but tax is 15%. Home could…
Will any lender accept a job offer letter in place of pay check stubs?
I have been with my current employer over 3.5 years. Recently, I signed a contract on a condo and applied for a mortgage. The mortgage was supposed to close more than a week ago. Due to an inefficient…
i have a loan with a company on requesting copies of my payments since the start of loan they said it has been shredded due to data protection
where do i satnd regarding paying the outstanding balance if they can't provide what i've already paid
Person 1 has avg FICO score of ~630 and is employed. Person 2 has avg FICO score of ~785 but is unemployed. Can per 2 help per 1 w/ rate if cosigning?
Is an unemployed person able to cosign on a mortgage to help an employed person lock in a better 30 year fixed rate? Or do all parties on the loan have to be employed? 20% down would be doable.
Looking for a sub prime FHA mortgage. Not sure where to start.
I have contacted my bank and they only do conventional with 20% down, which we do not have. We have been renting (the same apt) for 11 years but our credit has some blemishes. I don't want multiple…
OUR HOUSE IS CURRENLTY WORTH ABOUT $150K LESS THAN WHAT OUR CURRENT MORTGATES ARE FOR. WE HAVE A FIRST (ARM) AND SECOND (INTEREST ONLY) AND NEITHER
BANK WILL REFINANCE DUE TO THE LOSS OF VALUE. THE HOUSE IS IN NEED OF UPGRADES/IMPROVEMENTS BUT WE DON'T WANT TO INVEST IN SOMETHING THAT WE ARE UNDER WATER IN, ARE WE BETTER OFF TO TRY A SHORTSALE OR…
My wife and I are both disabled. We both lost our jobs because of it. For over three years we have been asking our bank for help and none so far.
We will never be able to go back to work. I was never able to walk again after my HIT AND RUN ACCIDENT Why has our loan taken so long to get modified? The bank just keeps asking us to send all the…
Does unpermited work limit the type of loans avaiable?
I live in a condo complex and several residents have done work on thair units without pulling permits. I heard that unpermited work affects the sale of all the units in the complex and the loans avaiable…
FHA 203k (streamline) lenders in Utica NY?
I am having a hard time finding a lender in OR around Utica NY to get a streamlined 203k for a house I want to put an offer in.... Any lenders, please??
I have USDA financing. What options do I have if I am limited on closing funds and the seller won't pay closing costs?
would it be possible to use Georgia dream or are there other options out there that could help me
PMI Problems
Moving & starting new job in October (ending current job in September: 48 days in between ). Purchasing a condo for mid-400ks. Putting 10% down. Closing set for July. Mortgage "unofficially…
Is it possible to get a mortgage on a debt management program. I've talked to several lenders, and it seems like the answer is different from each
one. On the program, it is for credit cards only, and only the interested rate was reduced. There was not any settlements involved. I've heard, you have to wait until you have been on the program for…
Any government programs for responsible homeowners under water with (Chase) FHA loan and excellent credit taking?
We have a remaining balance of $136,000 on our house that is worth $100,000. It was our first home purchase and we've lived in the home for over 6 years. We are current and have never been late on…
Low 600's??
I have talked to a few different companies that have contacted me online....most turn out to being credit counseling that want me to pay. I am a single first time home buyer (hopefully)....recently have…
My daughter begins vet school in Aug. and will need more $$ than provided by FAFSA, about $10,000 more per year. Should I cosign to keep interest low?
I am 59 and single and make only $53,000 per year as an admin. asst. I have a paid-off home, but don't have enough money to retire and I am not on target either. I have $40,000 debt (credit cards…
I have applied for an FHA loan and i have a score of 620. I had a student loan payment that was late Jan and Feb this year for 60 days.
I have applied for an FHA loan and i have a score of 620. I had a student loan payment that was late Jan and Feb this year for 60 days. I have a great income and a perfect rental payment history over…
Rate / fees negotiation
Hello Guys, Before I would like to ask question. I would like to thank your feedback for my earlier questions earlier. Here is my scneario, I initially signed up for FHA loan and did lock the rate for…
Looking for an investor to purchase real estate (4bdrm2ba) in San Joaquin or Stanislaus and offer lease option - bankrptcy and foreclosure in last 2 y
We have the means to pay up to $1500 monthly in mortgage or lease payments. Caught up in the 2008 construction industry crash and husband lost supervisor job. Upside down on home now and facing foreclosure.…
Short Sale Financing...HELP
I am fastly approaching the end of my short sale and I need 2 addiitonal documents uploaded to the equator system for BOA. -1) addendum to the purchase contract with purchase price at $155K, fully executed.…
What is the possibility of getting financed for a home with a lot of debt?
I recently went through a divorce and was living on credit cards so my daughter and I could survive during the process. My husband would not pay any assistence and I was a stay at home mother. I am now…
Mortgage help...
hi, i am planning to purchase a house by the end of the year & will need to get a loan. the down side is... i dont have a pleasant credit score..., my credit score is only @ 690 & i just paid off…
Financing a condo oin Panama City Beach
I am seeking a loan for $218,000 less 20% down. My offer was accepted for a condo in the Sunrise Beach complex in Panama City Beach. I have been told that all that is offered is 3/1 and 5/1 arms. I want…
Gift money rules
Hello, as part of down payment for my loan conventional 10% I am receiving 4% as gift money. My loan officer said no problem as long as the donor gives in writing the necessary stuff and copy of check…
Need creative financing in MA for Condo that is <50% owner occupied and HOA in bankruptcy
RIGHT! I know it's a lost cause but we are looking for lenders that can fund condos with less than 50% owner occupancy. We have MANY sellers in this situation and it seems cash is king. We need…
need houston lender with a dti of 45%
I need a mortgage lender who will loan with a DTI of 45 in Houston. loan is 90,000, 775 credit score.
FHA loan a good choice?
I am currently in the process of purchasing a home in Augusta, ME. I was in the process of obtaining a rural housing loan for the house. In the middle of this process, the lender let us know that the property…
The lender is asking for an approved budget of the condo. The condo is a new project and has a proposed budget. Is the proposed good enough?
The condo has yet to have its first board meeting. The proposed budget should be approved at the first board meeting which will take place after 75% of the units are closed. The lender states that new…
Are there any lenders that will do a VA home loan with a 600 Middle score?
I am a first time home buyer with my COE in hand but still repairing my credit. I have a son on the way and i would love to have a home to welcome him into this world to. Im over renting and paying someone…
How can I protest the fact that foreclosed home appraisals are ruining Richmond Heights housing values.?
I purchased my home in 1997 for a price of $200,000. My home was valued at 269,000 dollars as recently as four years ago. Yet, when I went to refinance my home the bank appraised my home at $148,000.…
We have our house for sale in CO and we want to buy another in Arizona. Our fico score is approx 720. Our credit debt ratio is a little high
Wells fargo said if we purchase the 2nd home before this one sells, we will need six months mtg. payments in escrow for each home in order to qualify for the second mortgage. We have a high mo. payment…
Anyone worked with Texas One Mortgage? How was your experience?
Great website with lots of explanation and detail. Anyone use them?
I am selling a home and have found a home I want to buy. The seller is asking I drop the sellers contingency on the home to keep it. they will give
me an extended closing date until say november 1, from today june 12th. What are the possible consequences of not selling my home in that time?
are there any options for jumbo non-conforming piggy-back loans? have 20% for $1M purchase; looking for options with LTV > 80% if we go more
upmark in case we find a house which needs a bit more TLC we may need to keep some of our cash for a remodel and then would like to finance more of the house purchase. I am curious if there was a loan…
there is a mortgage on my credit that is not mine. what r my options? is the home mine?
i am trying the fix some credit problems to purchase my first home, but when i ran my credit it says i already have a mortgage in my name in city i have never lived, with a company i have never heard of...
We contracted with a builder to build a home using FHA financing.
We waived our financing contigency because we had the loan, however the appraisal just came back 60k less than the sales price on the contract. Weare 2 weeks away from closing and we are wondering what…
moved to TX w/ my job.The previous house just rented & is a VA loan. I want to use FHA for new house.Will new FHA rental income reg's still?
apply? I really want to know will I have to meet FHA rental income guidelines , ie; 25% in equity in the rental house (which I only have 11%) since the first loan was VA and the 2nd is FHA. Not sure if…
I am 64 years old, low income. I understand there are programs that can help me . The one I am considering is a HUD manufactured house for $45,000.
This house is in Dayton, NV, and is good condition. I would like to see if it is possible to buy it.
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