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Fotoloco The Alexandra Condominium Halloween Party by Ortigas and Firm 002
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Fotoloco photo booth photographs @ The Alexandra Condominium Halloween Celebration | Ortigas & Firm | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth
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Fotoloco The Alexandra Condominium Halloween Celebration by Ortigas and Company 031
Image by FOTOLOCO!
Fotoloco photo booth photos @ The Alexandra Condominium Halloween Celebration | Ortigas & Firm | Viridian in Greenhills | All-you-want photo prints from Fotoloco photo booth
For far more houses click here…
Question by Jessie: Who is the best company to get a home loan through with bad credit?
I have pretty bad credit and I need a home loan, prostate but I don’t want to get screwed.. does anyone know who I should go with?
Best answer:
Answer by jamesnbarnes
Define “bad”? I would go to www.communityempower.com and enroll in their program ($ 99 I think) and have them assist you with repairing your credit.
Loans for people with truly bad credit (580 or less Credit Score) are hard to get now with over 80 major lenders going out of business since December (see www.lenderimplode.com) making the choice of lenders who handle “B” paper loans very limited for the mortgage broker/banker.
The most forgiving loan is an FHA loan. Find a good lender and ask them to qualify you for an FHA loan. A good Realtor can help you find a competent lender in your area. If your credit is bad because of a one time circumstance like divorce, physician loss of job, accident, death of a spouse, etc., you can probably get a loan with a normal rate (6.25% or so).
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Question by Fauna: About how much should I have saved for down pymt on first house?
Let’s say I were to buy a house for 130-140K. How much should I have saved up for a down payment? Is there a good site to help calculate how to pay for a house and figure a mortgage?
Thanks.
Best answer:
Answer by Frank112
20% of sale price if you want to avoid paying PMI insurance and generally be more assured that you will be the mortgage.
So for 130k-140k, remedy you want to save 26k – 28k.
Give your answer to this question below!
For my opinion –
It is better to go to your bank and ask for a real and quick answer.
And most of them have mortgage calculator on their web site.
Good Luck
Using the top end, for an FHA loan (which has the lowest down payment), you will have to save $ 4,900 for the down payment alone. You will also need to save between $ 4,200 and $ 7,000 for the closing costs (3 to 5% is normal). So, a minimum of $ 9,100 and possibly closer to $ 11,900. You will receive a Good Faith Estimate when you are in the actual application process which will give a closer figure for the closing costs.
You pay for the house by sending a check each month. Now, if you want to know how much the payments are, there are a multitude of mortgage payment calculators on the web – I use the one at bankrate.com Just remember that the mortgage calculators only figure Principal and Interest, you will still need to add in taxes, homeowners insurance and if you go with a less than 20% down payment, PMI. This can add $ 200 or more to the payment.
Bankrate.com also has mortgage affordability calculators that you may want to check out.
minimum down payment is 3.5% for an FHA insured note. Now with that having been said I always recommend an emergency fund of at least 6 months total living expenses as well. Why? with ownership comes up keep and some always unexpected items. The water heater blows or the HVAC unit needs to be replaced. While some are just a few hundred to do some run into the thousands to fix. My last roof cost $ 10,000 to replace. OUCH! Be prepared to live in your home and have these funds sitting some where so you can live and not stress out. When dipped into replace as soon as you can.
I am a mortgage banker in TN