Do FHA mortgage loans interest rates vary by lender or are they the same across the board in your area?
by Editor B Question by : FHA LOAN INFORMATION? Hello. How do I get an fha loan with little or no down payment? Whats the best bank to go through if your credit score isnt perfect? I appreciate any help or advice! Best answer: Answer by cactusgeneYour absolute minimum FICO score for an FHA loan is 625. Instead of looking for a bank that handles FHA loans you would be better off to look for a mortgage broker in your town who specializes in or at least handles many FHA loans. I also found that may experienced real estate agents have sources and names of mortgage brokers that they rely on for such loans. Know better? Leave your own answer in the comments! When a HARP Refinance Can Help Article by Brian Hauck For more informaiton please visit here… www.FloridaHarpGuide.com Get accurate HARP 2.0 Refinance Florida information including the HARP Lenders, viagra order HARP Guidelines and the “How to get started” Process. Video Rating: 5 / 5 More great real estate info click here… More Harp Refinance Articles Question by Amy: Do FHA mortgage loans interest rates vary by lender or are they the same across the board in your area? Thank you, try Michael. Do you know if the interest rate is negotiable or it will just vary by the lender? Best answer: Answer by MichaelYes it can vary. It depends on the Yield Spread Premium the mortgage broker or banker is getting. In other words how much they are getting from the lender for doing the loan with them. Yes, medications the rate is negotiable. Just find a broker or banker who isn’t too greedy. Ask them what the par rate for FHA loans are and they should tell you. The par rate is the going rate without any yield spread premium (ysp). These days brokers try to make the standard rate of 1 point, either 1 point on origination fee or a combo of origination and YSP. Good luck! What do you think? Answer...
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FHA Unveils Section 242/223(f) Acquisition and Refinancing Program for Hospitals AMS Health Care Mortgage Corporation announces that it will begin working immediately with clients seeking to refinance under the newly issued HUD program. The much anticipated FHA 242/223(f) refinancing and acquisition program will provide hospitals … If you would like more informaiton please visit here…
Read MoreHow wise would it be to try to buy a home when I possess bad credit?
A few nice condominium images I found: Condominium windows 3 Image by tanakawho Lights from condominium windows. Pushing the shutter, thumb cure I swang my camera. Rather intriguing outcome, online more about is not it?^?^?? For much more properties click right here… Condominium windows 1 Image by tanakawho Lights from condominium windows. Pushing the shutter, I swang my camera. Really interesting outcome, is not it?^?^?? Much more fantastic houses click right here… Question by Emmu: How wise would it be to try to buy a home when I possess bad credit? My fiance and I want to buy a home but our credit is not good. His is better (in the high 600) and mine is in the low 600. Would it be better to wait until our credit improves to buy a home(this might take years) or to try and buy a home now and face higher rates? Best answer: Answer by bishop_larryI would try an interest only loan for 3-5 years, diagnosis this would enable a decent payment even with a high interest rate. Show the lender a good payment history and refinance at a later date. Depending on your current rental costs the interest only mortgage pmts might be similar. Add your own answer in the...
Read MoreWhat is involved in selling to someone who wants a FHA loan?
Question by Michelle: What is involved in selling to someone who wants a FHA loan? I had my condo on the market and it has an offer now. They are wanting a FHA loan and have added in the extra 3% over and beyond my asking price. My realtor is telling me that I can deduct this portion off of my taxes since I’m paying for it now in the cost of selling my place. This is only the 2nd time I have sold a place and the other was a conventional loan and that’s all I’ve ever done too. I will see the offer tomorrow, malady generic so would appreciate any advice. Thanks! Best answer: Answer by malinmoThe buyers are asking you to pay for closing costs up to 3 percent of the purchase price. You don’t have to agree to this. But in today’s real estate market, a seller has to make concessions if he/she want to sell. What is often written into a contract that is being bought with an FHA mortgage is the amount of money the seller is willing to spend to make repairs to the property that are mandatory for issuance of an FHA mortgage. This cost in my market is usually written for up to $ 300. Your realtor is right about deducting this 3 percent as an expense to sale. But ask your realtor if adding this 3 percent to the purchase price is customary in your market. I suppose it all boils down to how desperate you are to selling. Also, be careful the added 3 percent does not price your condo above the appraisal price or else the buyers’ won’t be able to get an FHA loan unless they are willing to pay the extra above the appraisal. What do you think? Answer...
Read MoreHow much will my mortgage payment be?
Ga. counties sue HSBC over bad home loans ATLANTA (AP) — Three counties in Georgia have filed a lawsuit claiming that British bank HSBC cost them hundreds of millions of dollars in expenses and damage to their tax bases by aggressively signing minorities to housing loans that were likely to … More informaiton please visit here… Local residents may be eligible for program to purchase or repair homes The Direct Loan program offers low interest loans to income eligible borrowers in rural areas. Direct loans require no down payment and monthly payments are based on income. The standard term for a loan is 33 years for most borrowers. Home repair loans … More informaiton please visit here… NRI dream home in India! Repayment of loan: The repayment of these loans can only be through Non-resident External (NRE) or Non-resident Ordinary (NRO) accounts with remittance from abroad. No other funds can be used for repayment of these loans. The repayment needs to be made … More informaiton please visit here… by Editor B Question by Sweetz: How much will my mortgage payment be? I was just accepted an offer on a home at $ 162, pharm 500. I am on an FHA loan. My down payment will be 3.5%. Interest is at 3.87. Taxes are $ 5585 a year. I think homeowners insurance will be about $ 100 per month. I dont know how much the mortgage insurance will cost? All together was is my mortgage payment looking like? Best answer: Answer by linkus86You are looking at a payment of about $ 1390 per month, information pills but you must live in an area that has the absolute highest property taxes I have ever heard of at over 3.4% (I am willing to bet it is half that rate) Add your own answer in the...
Read MoreShould I avoid buying points when buying a house for the first time?
Question by SH: Should I avoid buying points when buying a house for the first time? I am planning on getting a 30-year fixed rate loan. I am planning to stay at the house for at least 15 years and planning on paying off the mortgage as soon as possible ( in about 10 years or less). The loan amount is $ 550K. Any suggestions please. Best answer: Answer by kemperkyes but also ask around; you might get 2.4% interest rate offers What do you think? Answer below!
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