Financing in Racine : Real Estate Advice

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Matthew Heit…, Real Estate Pro in Stoughton, WI
Matthew Heitmann Team answered:
Is there such a thing as a 10 year mortgage?
Yes, in general the shorter the term of the loan, the lower the interest rate. A mortgage broker may have more options than a local credit union or bank.
0 votes Share Flag Tue Oct 9, 2012 Financing in Racine
Jjohnson, Other/Just Looking in Waukesha, WI
Jjohnson answered:
I would like to buy a house, but I was discharged from a bankruptcy 16 months ago and my credit score is only 507. I also have a large amount of
Monir, thank you for your responce. Fortunately, since I originally posted this, I have raised my middle credit score to 664 and am currenlty set to close on my home on November 3.
0 votes Share Flag Sat Oct 9, 2010 Financing in Racine
Is the UFMIP and MIP on an FHA loan based on the purchase price or loan amount?
Loan amount. If you're comparing loans, keep in mind FHA UFMIP and MIP rates are changing eff. October 4th.

Elena Ollick
Amerivest Realty
Faith Home Loans
eo@oc ... more
0 votes Share Flag Wed Sep 15, 2010 Financing in Racine
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
What is the approximate interest rate on an FHA loan with a credit score of 650? I am looking to purchase a home for $100,000 with $10,000 down and
The rate will be affected by your credit score. Your best bet is to meet with a local and trusted mortgage broker, they can prequalify you at no cost and let you know if you do quailify ... more
0 votes Share Flag Sun Jul 18, 2010 Financing in Racine
Keane Ng, Real Estate Pro in Tukwila, WA
Keane Ng answered:
Can someone please explain FHA's mortgage insurance works? I am looking to by a house in the fall and am wondering how large a down payment I

One of the best financing answers I've seen from an agent. Did you used to be a lender?
0 votes Share Flag Fri Apr 9, 2010 Financing in Racine
Dan Chase, Home Buyer in Texas City, TX
Dan Chase answered:
Is it a bad idea to purchase a home with a high intrest rate if the intention is to refinance in a year or two? I recently noticed a home for sale in
Don was right.

A lot of people got the kind of loan you mention.

The foreclosures we have all over today are a direct result of that type of loan.

The future is unknown. (expec ... more
0 votes Share Flag Thu Jan 7, 2010 Financing in Racine
Michael Hump…,  in Winchester, VA
Michael Humphreys answered:
will i qualify for an FHA loan?
Now a days you need a 620 to do an FHA loan. Evertyhing seems like it works. You have enough income to qualify for that price and you will have the 3.5% downpayment that is needed. ... more
0 votes Share Flag Wed Sep 9, 2009 Financing in Racine
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