California requires us to reveal my husband's monthly payment obligations (for an FHA loan) even though he will be a non purchasing spouse. (1) How are his monthly payment obligations calculated?
If any of this makes any difference, we are looking in Allen or McKinney. We have a good credit score (790), we more than qualify financially for the $250k-$275k house we want to buy; we will put about
home to remodel. For example, buy a smaller home and add/remodel the necessary rooms to fit our needs. What type of financing is available for this? Say if the house is purchased for 250k and we wanted
First time homebuyers
Several of us realtors and brokers have buyers who, whether they have high credit scores, or just passable scores, are all finding that the lenders are continually finding reasons to delay the loan closings,
What is the penalty for renting your home prior to the one year occupancy rule? We refinanced with the intent to live in the property eight months ago, but now we need to move and would like to rent the
I think refinancing charges are worth when compared to monthly PMI. Any thoughts. Thanks.
If pre-approval letters are usually valid for 90 days, this seems like a short timeframe for house hunting. That's why I'd like to find out if updates to pre-approval letters cost an extra fee.
The origination fees consists of: 1% of loan $360 admin $1250 processing $350 underwriting $350 application $175 attorney These seems pretty exurbanite!!
Recently went to see broker/lender to see where I am at to get qualify for FHA loan. Broker told me that my credit score is at 662,600 and 594 lowest . I am very confused after reading that everyone kept
I know that we are in a new world here, but it seems as though the internal communication in these big banks is getting worse not better.
I am currently trying to refinance and renovate my home and after 4 months of working with my current financial instittution and setting up a closing date, they are now telling me that I need to come up
We've always calculated our rental income off our shcedule E (total rent - expenses and add back in depreciation) but I've also heard lenders will take a flat 25% of rental income as the net
I am relatively well set financially, in the process of retiring, and I want to buy what for me would be an inexpensive condo (less than $120K). I could put 50% down, if I can get a no-questions-asked
I am purchasing a condo (my first home purchase) at the John Hancock building in Chicago and was informed that due to larger than 20% commercial space, certain lenders will not provide mortgages if the
free with a few charges here and there. What do we need to do to qualify for this Hud Home
Disabled Vet, scores 576, 608, 645. Single, income $36k yr. Exempt from all property taxes. Collection is 9k but two years old and I'm working to get the account settled or re-aged.
LO told us that we would have to have either a utility bill or rent letter for the past 12 months. We can't provide that since we have lived with family for 9 months now since the rental property
I'm looking to buy a rental property for ~$150,000 with $40,000 cash down. I have a home right now that I bought a year ago FHA backed I put 3.5% down on. Before going to physically talk to a lender
I'd like to get cash out of 1 (unmortgaged) property. I have excellent credit and cash flow.
I am looking for someone to write a 1 hour CE course for GA. It would have to be on any topic specific to Georgia law. Would anyone be interested or know anyone interested in doing this?
What about Chase Bankdo they have home financing?
is it really worth paying money for credit repair? if so which ones would you recomend? im trying to increase my credit to purchase a house. right now its around 511.
What is the best way to use 3.5% closing costs offered by Fredie Mae ? I think, normal closing costs are around 3%, so what to do with remaining .5%
"The Huffington Post reported late yesterday that five of the country's largest mortgage lenders may have defrauded taxpayers by filing false claims with the Federal Housing Administration (FHA).
We are looking to purchase later this year, if possible. Have 10% down & looking to buy in the $200,000 price range. Self employed for 4 years with steady, good income. Had to file a business BK
My daughters condo has 2 units for sale and they would like to offer FHA financing. How can she check to see if it is available and if not what is the process for having a unit spot approved.
I'm doing a refi, the bank I'm dealing with a real piece of work, they've been delaying for over a month now. In the latest GFE they sent me the fees have gone up and the APR has been raised.
I haven't signed the final GFE yet but the appraisal has been done. I will probably have to pay for the appraisal. But beyond that, just because something is on a GFE doesn't mean that they have
anymore. I'm in the middle of a divorce and won't be able to afford house anymore. I earn a good income and have been with job for 11 years. Currently in a chapter 13 and I'm upside down
Unit is owned by the 'developer,' is in disrepair, and hasn't been sold (4yrs ). I don't have 20% down I'd anticipate needing to purchase an income property. Perhaps reconvert
So I had my mortgage commitment letter today. My loan officer told me it's clear to close and it's a final approval. However, on the letter it has three "conditions on closing", the
Conventional int rate 4.875%, FHA is 4.65%. Monthly payment difference between conventional and FHA $1447 vs $1412.
much $ debt? I already own a house that is upside down but my DTI is only 28%, even with another house payment of $800 my DTI would only be 37%. I don't understand how M&I can reject the loan.
You offered this why wont you honner it .
I have a listing with an appraisal that was performed in August 2010. Will the new law allow to use this appraisal as a base for the newer appraisal ? How does the mortgage industry process this newer
I have seen different scenarios for people who filed Chapter 7 and including their foreclosure in that, and they must wait 2 years from discharge of Ch. 7, and 3 years from date of foreclosure, but I filed
I was medically retired 03/28/11 I sold my previous home purchased with a VA loan 05/05/11. I would like to purchase a home in Northern Virginia but cannot get the VA to approve a high enough loan. My
expensive home OR is it better to take a line of credit on the house I own and put that down and rent the house out to someone? Which one will allow me the greatest chance for a mortgage? The house I own
I have a judgement that was included in our bankruptcy. The discharge was in 2005. Only one agency is reporting this and all i hear is you need to satisfy this. How??? Thanks...
I am trying to buy a condo. 1% of common area (like the tip) is part of SFHA Zone A (FEMA Flood Zone) where as my unit is not in SHFA ZONE. Would i need flood insurance or how does project approval look
Any referrals are appreciated. Alan
my children are minors and was told when we purchased that bcuz i wasnt on loan couldnt be on the deed cuz it was an fha loan.we live in Virginia a community property state.
...the loan was approved and is at the attorneys office, we have 30 days till closing still... Can't I cancel my loan and just apply again since there is a no-float option? I would love to get a
We are buying a new house and were pre-approved for much higher than the purchase price. We also own a condo that has an FHA loan that we are going to rent out (and have tenants waiting to sign a lease)
I currently own a condo that I have lived in for three years now. I have always been current on my mortgage and I have no financial hardships. I also have excellent credit. I would like to take advantage
with $0 down? I need to be IN a home within the next 3 months would be ideal but I am not sure if this is at all possible with no money down and such a low credit score. Any info would be greatly appreciated.
I will be moving to Northwest suburbs of Chicago in June 2011. I want to get the mortgage pre-approval process going. I am looking for a mortgage professional who has experience with a buyer coming from
Has anyone done a Homepath loan along with the NSP program? Is it possible? Wells Fargo says they cannot because Homepath does not allow an appraisal, but GMHC will do an appraisal on the property.
I need a 85-90% LTV purchase loan in San Carlos or Belmont CA in the $1,000,000 range. We have: 800 FICO scores >$200K W2 income no debts besides our town house (about $100,000 in equity) which
we currently owe. What can we do?
I live in Oklahoma and I want to buy a house to rent while still buying the home I live in now. Would I have to doulble my income or could I get a loan on my same salary becuase it would be a rental home?
I am applying for a mortage but hear that it would take 45-60 days to process the loan. If I need to move quickly, can I still apply for a mortgage, but buy with cash to expedite things and move within
Hi I have locked into a loan and paid discount points to lower it from 4.75% to 4.25%, with todays FHA rates it seems that is 4.5% appraisal is in and I was wondering if it is possible to float down to
My husband and I bought a house pre wedding. Both of our names appear on the deed and mortgage but we are now refinancing and only his name is going to be on the mortgage, will my name be removed from
same bank? This is a refinance for approx. 20% of property value.