What are the pros and cons to a FHA home mortgage loan?
by marsmet523 Commercial Stated Income Loans – Good and Bad Article by Jeff Rauth More informaiton please visit here… by marsmet526 Question by cornfed: What are the pros and cons to a FHA home mortgage loan? I have terrible credit but have been pre-approved for FHA at 6% interest fixed for 30 years. I’m wondering if this is the way to go or if there are better ways to buy a home. I’m a single mom, website live in Iowa, illness have very little for down payment, page good rent and work history, and signs that I’ve been working to improve my credit rating. Best answer: Answer by aCeRBicThere are really very few options at this point in financing a home. Most lenders that thrived during the real esate boom of this decade have gone bankrupt, most of the remaining lenders that have survived are so severely weakened they have limited mortgages to those that have near perfect credit and at least 10% down. If I had that FHA loan: 6% fixed with small down, I’d run with it. You’ll probably need to pay a PMI. Give your answer to this question...
Read MoreWhat is the best interest rate you can get on a FHA Secure Loan?
Question by Anier: Where do I turn for the RIGHT answers? I just moved back to florida and all the money I had saved up went on a new car and the other expenses you have when relocating. I dont have money saved for a down payment but I dont want to rent again until know if i could actually own a house. I am a type of person who likes to put money into my place and I hate the fact that when i move I leaving gaining NOTHING on what I spent! I am a single mother of one and I want a better future for my son. My dream is to buy a house before im 30 but i cant find the right information on grants and wether its a good step for me to buy a home. Plus I want to my mortage to be the same amount I would pay for an apt here in Florida. (which is from 660-800 dollars). Best answer: Answer by Business Momgo visit your local loan officer at the local bank…and see where you stand….that should give you some idea as to where to start. also get a licensed real estate agent to assist you. good luck 🙂 What do you think? Answer below! Question by Thundertex: What is the best interest rate you can get on a FHA Secure Loan? I’m helping a friend who got caught up in the sub prime loan mess. I believe he would qualify for the FHA Secure Loan program the government is offering. What can I expect in interest rates. Best answer: Answer by Minneapolis Real Estate AgentThat’s great that you are helping your friend recover from a mortgage mess. Due to recent developments in the mortgage market, more about HUD has started a FHA refinance program called “FHASecure”. To qualify, ailment borrowers must meet 5 criteria: 1) History of timely mortgage payments before their adjustable rate increased. 2) Rate will re-set between June 2005 and December 2009 3) 3% equity in home or 3% cash down. 4) Sustained employment history. 5) Income must meet qualifying guidelines. FHASecure can help you even if you’re currently in default, and if the value of your home is less than what you owe. The lender considering the refinance would have to be willing to accept a short payoff on the existing loan OR hold a second mortgage to make up the difference. To answer most of your questions, go to http://portal.hud.gov/portal/page?_pageid=33,717446&_dad=portal&_schema=PORTAL Chris, Minneapolis Realtor http://www.chrisdeutsch.com Know better? Leave your own answer in the...
Read MoreQ&A: What is the best legit website to find listing of foreclosed homes in NY?
Question by edvariz: Is it easier to get a home loan approved using VA instead of FHA or conventional? I was told it was easier to get a home loan approved if I used my VA, nurse this web because the government would back a part of the loan in case it foreclosed so lenders are are willing to lend to someone who uses VA. Also, dosage click I was told VA accepts a larger dept to income ratio than the other financing. Are these both true? Best answer: Answer by alterfemegoEasy has nothing to do with it. Each have their requirements and inspections. What really matters is your credit history and rating. Each have their own programs and terms, advice so rates may be close but not exactly the same. As an FHA appraiser, I’d say their inspection is pretty indepth. I’d say conventional loans are somewhat more liberal in the criteria the appraiser can use, while there are guidelines, they aren’t as restrictive as FHA or VA. So what you really should be considering is the best terms and rates for financial situation. Add your own answer in the comments! Question by QM2: What is the best legit website to find listing of foreclosed homes in NY? My wife and I are looking to move back home and looking to buy a foreclosed house, approved maybe in the New Rochelle area. We cannot find any free websites that list and show pictures of the foreclosed homes so we will pay for a membership but just want to know what is the best one? Best answer: Answer by ColdYou can go to sites like Century 21, cialis 40mg Coldwell Banker, etc. If a home is foreclosed it will state so. In some sites, they may have a place where you can just look for foreclosures. Note: Foreclosures are not really bargains. Banks are not in business to give away homes. They will play hardball. The price you see, is the price you’ll pay – usually they will not negotiate at all. We have a foreclosures in our area – they are not any cheaper than regular sale homes. And, they are missing dishwashers, ceiling fans, one even has the countertops ripped out. If you are moving from a long distance, I would get a realtor. They have foreclosure information right at their fingertips. You don’t pay the commission on a realtor – the seller pays this… Add your own answer in the...
Read Moredoes a first time home buyer need to get an FHA loan or can they get a 30 yr fixed?
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Read MoreObama to tout housing initiative in hard-hit Arizona
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Read MoreWhere would I find informatio on FHA mortgages and if there is anything new to offer single parents?
Question by NYEVE43: Where would I find informatio on FHA mortgages and if there is anything new to offer single parents? I would be considered first time home buyer. Need to try to get a home. Tired of renting forever! Does anyone know of any new mortgage deals from the govt? Best answer: Answer by kakakosCall a real estate office. They will be able to answer all of your questions. What do you think? Answer below!
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