Question by Troy B: Are there any good 1st time home buyers programs to help with down payment and closing costs?
Are there any good 1st time home buyers programs to help with closing costs and down payment? (Either or) I already have pre-approval and now was looking for help with the down payment or closing cost.
As of right now the seller is picking up about 3.5% but that still leaves us with a sizable down payment and closing costs.
Best answer:
Answer by golferwhoworks
there are grant money available and ask the seller to pay closing cost. Your mortgage professional should have the info needed and apply for you
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Question by aayad53: Any idea for debt consolidation up to 10 years?
I have over $ 88K in credit cards. I went to debt consolidation program and my FICO score went high. My only problem, check payment based on 5 years so my monthly payment so high. Do anyone know if someone can do debt conolidation but payments will be for 10 years? I don’t have any equity in my home to refinance
Best answer:
Answer by Budget Doctor
Figure out how much you can pay each month and pay down the highest APR credit card the most each time. For the other cards, more about just pay the minimum. that will effectively produce the same result as a debt consolidation program
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Current Mortgage Rates at Berkshire Bank
Current Mortgage Rates at Berkshire Bank Standard 30 year FRM interest rates at Berkshire Bank (NASDAQ:BERK) are coming out at 3.750% yielding an APR of 3.778% today. 30 year FHA loan interest rates at the bank are being offered for 4.375% and …
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HSBC Current Refinance and Mortgage Rates
HSBC Current Refinance and Mortgage Rates The best 30 year FRM interest rates at HSBC Bank (NYSE:HBC) are on the books at 4.000% and an APR of 4.134%. 30 year FHA loan interest rates at the bank are published at 3.500% carrying an APR of …
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Reverse Mortgage “Kill Switch” Postponed, recipe HUD Expects Delays in Wake of …
In this week's Reverse Focus podcast, Shannon Hicks discusses the “kill switch,” or the cap limit on the number of reverse mortgages that can be insured by the Federal Housing Administration (FHA) has been postponed. Under a continuing resolution …
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Current Mortgage Rates: Wells Fargo Refinance Rates for February 20, 2013
Current Mortgage Rates: Wells Fargo Refinance Rates for February 20, 2013 Wells Fargo (NYSE: WFC), which is … For conforming loan balances, the 30-year fixed rate home mortgage can be secured at 3.625% interest for an APR (annual percentage rate) of …
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Question by openminded: my credit score is low low and due to divorce i have to sell my home if i cant get his name off 2nd mortgage?
due to divorce i have to refi the 2nd mortgage with his name on my home–now that the economy is worse and credit is tight i cant refi the 2nd mortgage—its apprx 12k—-the main mortgage is only in my name and i have been here 10years—but i will have to sell even though i need to reroof and etc i will owe if i sell it—-how can i find someone to refi or personal loan me when credit score is low—
ummmmm ppl keep sending me work at home info i already work two full time jobs—thank you—–its not like i dont work—-
Best answer:
Answer by Ed Atun
4 years ago there were many banks and lenders who would have loaned you the money. Now it is almost impossible due to your low credit score. Every city has “hard money” lenders who will loan at 14% interest. That will get rid of the 2nd loan but the payments will be high. You look for them in the newspaper.
If the newest HARP program (government) goes thru, health you will be able to refinance at 4% fixed for 30 years. It was supposed to be ready December 15. No credit check needed. No word on when it will arrive.
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Question by Miguel E: buying a house in texas how much is my pmi going to be, information pills and does my credit score affect the cost?
putting 5% down on 170,000
Best answer:
Answer by Me
PMI is around $ 100/month…. or so I have been told. I don’t know if your credit score affects it or not but it might.
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Generally, pmi is out nowadays. Bankers have gotten creative in their financing because pmi is a lose-lose situation for home owners and banks, so instead, they give you two loans on your property. The first is for 75 or 80%. The second is for the balance.
The interest rate on your first will be lower then the interest on the second because they use your money to pay down the second before the first. This becomes a win-win situation because mortgage interest is tax deductible for homeowners whereas pmi is not. Plus, the bank gets to keep that interest as income instead of forwarding it to an insurance company.
Lastly, the interest rate is determined by your credit score, the price of the house and how much money you put down. Believe it or not, the higher the cost of the house, the lower the interest rate. Also, the more money you put down, the lower the interest rate.
Hope ths helps.