Lastest What Is An Fha Mortgage News
Question by wbabqueen: What exactly am I getting myself into with a Government loan for a House? I have no credit, health hospital but not bad credit either. I’m looking for a FHA certified realtor to help me get started looking. Or maybe a list of FHA certified lenders or whatever it is I need. And what does this all involve. I hope I’m not going to be signing my life away. . . Maybe somebody that has done this before… how did it go for you? Thanks Thanks Taras Problems. You really sound like you know what your talking about. Thanks for the tips! =) Best answer: Answer by Found-1A house and a mortgage is not something to jump into lightly. Upkeep and the financial responsibility’s are something for only those who are financially secure and have no plans of moving for years to come. I would suggest you get pre-approved for the loan first… then start looking for a Realtor and a house. Many times folks waste precious time and money in looking at houses and never realize they don’t qualify or don’t have a large enough down payment. Know better? Leave your own answer in the comments! Question by rd: What is an estimated rate we might qualify for on a mortgage? Hi I was wondering if anyone might know (or had simular issues) what an estimated mortgage rate would be for us. We would pre-qualify, story but we are trying to keep our credit inquiries down as we will (hopefully) be looking to buy in the next year. Here is our situation: * Married first time home buyers. Median FICO’s of 568 and 571 * I filed Bankruptcy 2 years ago. My Husband has not filed bankruptcy before. * I have been in the same field for 6 years. *Husband has been a full time student. *We and have paid off all outstanding debts except one car payment of $ 350 and a student loan of $ 100 per month both with excellent payment history. *Our approx gross income is $ 65, search 000/year. *We have $ 5, order 000-$ 10,000 for downpayment. *Neither of us have a current rental history as my company takes care of our living arrangements (medical traveler). Any suggestions or thoughts? Thank you If the rate we are given is high (sounds like it will be) then if there is no penalties, Would it be likely that we could refinance in a few years after esablishing payment history and having better credit scores? Best answer: Answer by bigslick60From the information u gave u could not go F H A so u will have to get a B loan or conventional loan, your rate will most likely be around 9% – 12%. Know better? Leave your own answer in the comments! Several Reasons Why Mortgage REIT Investors Could Benefit From Recent Rule … By breaking these elements down and asking ourselves some key questions we can get a better sense of how several of the agency Mortgage REITs could potentially benefit. The borrower's debt-to-income ratio cannot exceed 43% (for FHA loans): For those … More informaiton please visit here… FHA Reverse Mortgage Changes Coming By Month's End The Federal Housing Administration (FHA) will announce anticipated changes to its Home Equity Conversion Mortgage (HECM) program in a mortgagee letter slated for release by end of the month, viagra 60mg a spokesman from the Department of Housing and Urban … If you would like more informaiton please visit...
Read MoreLastest Mortgage Rates Fha News
Question by Priscilla B: My house appraised for far less than what I owe!? I am currently refinancing and the appraisal has come back as more than half of what I owe on my property. I ‘m so shocked and confused. I knew it was going to be low but I didn’t expect it to be more than a 50% drop! What should I do? should I cancel the refi and do some upgrading to the house or continue? Best answer: Answer by Go with the flowUpgrading? I would have thought of paying down the mortgage instead. Funny how different minds can work. Sounds like you should continue as you are if paying down a mortgage is not something you would consider doing. Give your answer to this question below! Budget cuts will restrict FHA mortgages "Any decrease in the rate the FHA is able to ensure mortgages will clearly hurt housing." The HUD budget cuts would have the biggest effect on lenders that don't have so-called direct endorsement authority, view Jaret Seiberg, pilule senior policy analyst at … If you would like more informaiton please visit here… Wells Fargo 30 Year Mortgage Rate Deals Today Wells Fargo 30 Year Mortgage Rate Deals Today Standard 30 year loans at Wells Fargo (NYSE:WFC) are being quoted at 3.625% carrying an APR of 3.963% today. The FHA options for the 30 year loans at the bank have been published at 3.375% yielding … More informaiton please visit here… Current Mortgage Rates: Wells Fargo Refinance Mortgage Rates for March 7, 2013 The bank also accepts loans that are insured by the Federal Housing Administration (FHA) for borrowers with low credit scores. The 30-year fixed rate home refinance loan for conforming loan balances comes with a mortgage rate of 3.625% and an APR … For more informaiton please visit...
Read MoreWhat is an estimated rate we might qualify for on a mortgage?
Question by wbabqueen: What exactly am I getting myself into with a Government loan for a House? I have no credit, health hospital but not bad credit either. I’m looking for a FHA certified realtor to help me get started looking. Or maybe a list of FHA certified lenders or whatever it is I need. And what does this all involve. I hope I’m not going to be signing my life away. . . Maybe somebody that has done this before… how did it go for you? Thanks Thanks Taras Problems. You really sound like you know what your talking about. Thanks for the tips! =) Best answer: Answer by Found-1A house and a mortgage is not something to jump into lightly. Upkeep and the financial responsibility’s are something for only those who are financially secure and have no plans of moving for years to come. I would suggest you get pre-approved for the loan first… then start looking for a Realtor and a house. Many times folks waste precious time and money in looking at houses and never realize they don’t qualify or don’t have a large enough down payment. Know better? Leave your own answer in the comments! Question by rd: What is an estimated rate we might qualify for on a mortgage? Hi I was wondering if anyone might know (or had simular issues) what an estimated mortgage rate would be for us. We would pre-qualify, story but we are trying to keep our credit inquiries down as we will (hopefully) be looking to buy in the next year. Here is our situation: * Married first time home buyers. Median FICO’s of 568 and 571 * I filed Bankruptcy 2 years ago. My Husband has not filed bankruptcy before. * I have been in the same field for 6 years. *Husband has been a full time student. *We and have paid off all outstanding debts except one car payment of $ 350 and a student loan of $ 100 per month both with excellent payment history. *Our approx gross income is $ 65, search 000/year. *We have $ 5, order 000-$ 10,000 for downpayment. *Neither of us have a current rental history as my company takes care of our living arrangements (medical traveler). Any suggestions or thoughts? Thank you If the rate we are given is high (sounds like it will be) then if there is no penalties, Would it be likely that we could refinance in a few years after esablishing payment history and having better credit scores? Best answer: Answer by bigslick60From the information u gave u could not go F H A so u will have to get a B loan or conventional loan, your rate will most likely be around 9% – 12%. Know better? Leave your own answer in the...
Read MoreUnderstanding reverse mortgages: Beware of misleading advertising
Understanding reverse mortgages: Beware of misleading advertising A reverse mortgage is a unique type of loan that allows older homeowners to borrow money against the equity in their house that doesn't have to be repaid until the homeowner dies, pharmacy illness sells the house or moves out for at least 12 months. At that point, try you … For more informaiton please visit here… Keeping a roof over your head For many boomers, figuring out where to live and how to pay for it is a bigger challenge the longer they live. Peter Bell, president and CEO of the National Reverse Mortgage Lenders Association, says his business is in a state of flux, not only because … More informaiton please visit...
Read MoreQ&A: How much of monthly rent would I be paying with a 230,000 FHA loan?
by SS&SS Question by Steve M: How can I raise my credit score 30 points very quickly? I need 20-30 quick points on my credit and I dont have a whole lot of money to pay down balances. I am at 590-600 and i need to be at 620 for an FHA mortgage loan. Any suggestions will help!!! Best answer: Answer by JudyNeed more info. If you ever touch 75% of usage of your limits you are causing extreme harm to your score. Even bringing them down to 50% of limits can give you a boost. Optimal use only 25% of your limits. For 800+ scores – pay in full each month. Do not open any new credit. Do not close old accounts. Only secret is to lower your debt utilization ratio on your cards. Then wait for the score to reflect the change. Credit cards update on the credit card’s closing date – usually. (only once a month). / Give your answer to this question below! Some cool massive property images: Construction and Expansion at the Large Residence (University of Michigan, physician Ann Arbor) Image by cseeman More fantastic homes click here… Construction at Michigan Stadium (the Huge Home) – University of Michigan’s Football Stadium Image by cseeman If you would like to see much more properties click right here… Construction at Michigan Stadium (the Large House) – University of Michigan’s Football Stadium Image by cseeman If you would like to see more properties click right here… Question by loismae01: What do you classes do you need to become a Mortgage Loan officer? I would like to become a Mortgage Loan officer. What classes would I need to take to do that. It used to be just Real estate license. But Im seeing other things like NMLS, visit this site Loan officer training course, discount Processing course,Fha/va course. Can you tell me what I need to do. I’m in Cal. Best answer: Answer by loanmasteroneMost states have established a contracted with national firm for the classes and administer the test for those seeking to become mortgage loan officers. You would need to have a mortgage loan officers license to work for a mortgage banker/broker. If you decide to work for a bank, then a mortgage loan officers license if not required. You should google mortgage loan officer requirements followed by California to see what the requirements are to become a mortgage loan officer in California. I hope this has been of some benefit to you,good luck. “FIGHT ON” Add your own answer in the comments! Question by lore81: Can I get a second mortgage loan on a purchase outside of the state Im living in? I want to help my parents buy their first home, approved but because they may not have a good credit score, I was wanting to apply with them to help them. How can I do this? Best answer: Answer by daeve930The first thing to do is check their credit scores. I use annualcreditscore.com, and you can order each of the three major bureau reports there. You have to pay for the score. I think one is $ 5.95 and the other 2 are $ 7.95. Don’t buy any other services from them. What they call debt analysis is something you can do in seconds for free. Just add up all your monthly payments from the reports, and divide by the monthly gross. That’s you debt to income ratio and what they call debt analysis. Most lenders will line up all three scores for all the borrowers and use the lowest middle score. Yes,...
Read Morewhat are the specific rules for truckers to get an fha loan?
Question by yourtruckerfriend: what are the specific rules for truckers to get an fha loan? Im a first time home buyer. I am a otr driver. I am out working 355 days a year. I take 1 week off to visit family back home. The dept of transportation allows me to deduct from taxable income a flat rate of 45? dollars for everyday im out on the road..away from my home state. I claimed about 37.00 a day..itemized on my return. I also have other deductions to my taxable income. The issue is.. my mortgage broker is stating that the underwriter is making me show my tax returns for 07 an 08 to see IF i qualify for a home loan. I made 53k , pilule web i had 20 k in deductions. I couldve taken more but thats a gray area , more about recpts etc.. anyway.. i am NOT a self employed person.. i have w2s. I applied to the underwriter , find got approved for 72k. I negotiated the purchase price, and such.. got my loan down to 56k & seller contribution of 2k, add in an 8k rehab loan, brings my tally to 64k, add in 12k closing etc. bottom line. my mortgage guy locked me a rate at 5.5 fixed 30 etc. amaZing..its till the 1st of march.. Our closing goal is the 20th of feb.. as i said i had a preapproval.. i signed a contract , (theres alot more details about the contract).. paid for inspection, and appraisal. now mortgage guy TIM.says he put off ordering the survey as i may not qualify now.. I ask why am i being forced to show tax returns, just because my occupation is trucker?.. if i made 53k a year and say paid rent equal to my truck pmt.. 652 , and ,my util budget is 232 a month. I make around 4144 a month. I gotta eat, like eveyone else..only i get a tax break on daily expenses.. meals etc. My mortgager lied to me saying an appraisal had been ordered when it has not ..that was 9 days ago.. now i found out that the realtor.. MY realtor stated ..c.mort group has ordered the appraisal, then see hand writen order but am told by morgage co. that it wasnt ordered. everyone else whos not a *truck driver..gets to take w2s to fha and show bills etc, get a loan. but for I .. i am required to show all my tax return even tho i am not self employed and i get most of my tax pmts back by itemizing.. well the house sits and i am left with 725 spent for inspection and appraisal and now even tho i had a prequal letter, a signed contract and 30 days into the process.. my mortger says i dont qualify.. is there a way around this. thru it..etc The purpose of buying a home now is the market, my age and family needs. I plan to be home more and my work is slowing down a bit. Ive been a driver for 7 years. didnt want or need a home, stayed out on the road. cheaper. independant now.. my family has no housing.. i have the ability to have a full house again. and yes..tax deductions.. equal amounts better investment.. the reason the underwriter is asking for the returns…because i stated truck driver as job. i also wonder..could it be also because im female? if only my ahem.experienced mortgage broker listed me as freight engineer or relocation specialist or professional commodity relocator..? im just...
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