Q&A: How can I raise my credit score 30 points very quickly?
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...
Read MoreFHA Streamline Refinance: Trade in For Lower Mortgage Rates
Obama Mortgage Refinance Program – What You Must Know Government sponsored mortgage relief programs have extended its help to tens of thousands of financially struggling homeowners by helping them refinance their mortgages to get a more stable and affordable product even though they are underwater … For more informaiton please visit here… Ukraine PM Azarov named for second term in post One of the first big challenges of the new Azarov government will be to negotiate a new bailout program from the International Monetary Fund to follow a $ 15 billion package which was suspended in early 2011. An IMF mission is due to visit late in … If you would like more informaiton please visit here… Donovan outlines FHA recovery plans to avoid Treasury draw Housing and Urban Development Secretary Shaun Donovan testified before the Senate Banking, more about Housing and Urban Affairs Committee following the Federal Housing Administration's actuarial report on Thursday to address the necessary steps that need to … If you would like more informaiton please visit here… In an FHA Checkup, a Startling Number Granted, that figure, reported by F.H.A.'s auditor, doesn't represent actual losses. It's an estimate of the difference between future mortgage insurance premiums that the F.H.A. will collect and the expected losses on the mortgages that the agency is … If you would like more informaiton please visit here… FHA Streamline Refinance: Trade in For Lower Mortgage Rates FHA offers consumers many options, information pills but the most popular continues to be the FHA streamline refinance where homeowners can trade in for lower mortgage rates or shorter terms without the normal requirements. As of this writing, diagnosis current FHA mortgage rates … If you would like more informaiton please visit here… Mortgage Q&A: Refinancing FHA loans can be tricky FHA has two charges: an annual mortgage insurance premium (MIP) that's part of the monthly mortgage payment and an upfront mortgage insurance premium (UFMIP) that must be paid at the time of settlement. For those seeking to refinance an existing FHA … For more informaiton please visit...
Read MoreU.S. 30-Year Mortgage Rates Rise to a Six-Month High
U.S. 30-Year Mortgage Rates Rise to a Six-Month High The average rate for a 30-year fixed mortgage was 3.63 percent in the week ended today, page link up from 3.52 percent and the highest level since late August, McLean, Virginia-based Freddie Mac (FMCC) said in a statement. The average 15-year rate climbed to … For more informaiton please visit here… Mortgage Rates In Motion : Weekly MBS Prices At 5-Minute Intervals This chart shows mortgage-backed securities (MBS) prices from Monday's market open until the time of this post. The vertical-axis reflects MBS prices as measured in basis points. Mortgage-backed bonds are used to formulate mortgage rates. Falling MBS … If you would like more informaiton please visit...
Read MoreHow To Cancel Your FHA Mortgage Insurance Premiums (MIP)
At Least Six Millionaires to Take Senate Oaths Tuesday Their arrival in the Senate comes as the wealth gap between the nation's top 20 percent of earners—including many members of Congress—and every other income group in America has reached its widest point in at least three decades, seek search according to a Pew … For more informaiton please visit here… Safer subprime means no loan lockout Not so much if you have really cruddy credit or spotty income. It doesn't … Fannie Mae just announced they are back in the 3% down payment business with a 620 credit score, with at least one (no mortgage experience) first-time buyer on the loan is a … For more informaiton please visit here… The Essential Reverse Mortgage Trick: Get One Before You Need It Once the homeowner did start to tap the loan, the interest rate would be fixed at the level set when the mortgage was approved. Also, the loan … loan. Because borrowers make no payments on reverse mortgages, there is no income requirement for approval. For more informaiton please visit here… 7 Legal Ways to Squeeze More College Aid From the FAFSA Filling out the 10 eye-crossing pages of the 2015-16 Free Application for Federal Student Aid, the most important application for need-based college financial aid, may not seem like a fun adventure in Super Mario's Mushroom Kingdom. … If you're … For more informaiton please visit here… How To Cancel Your FHA Mortgage Insurance Premiums (MIP) The two MIP types are the FHA Upfront Mortgage Insurance Premium (UFMIP), cialis 40mg and the FHA annual Mortgage Insurance Premium (MIP). All FHA-insured homeowners pay both insurance types and for most FHA homeowners, information pills FHA MIP is lasts for the life of the … If you would like more informaiton please visit here… This Mortgage Cost Is No Longer Necessary If you have an FHA mortgage you took out pre-June 2013: The requirement then was after 60 months of mortgage insurance premiums paid to HUD and 20% equity, cheapest you had the ability to petition out of PMI — and it is up to the lender's sole discretion to … More informaiton please visit here… A low down payment loan that's not FHA and has no PMI There is great news for home buyers in San Diego as they can purchase a home with a limited down payment and no monthly mortgage insurance “PMI”. Too many buyers in today's marketplace assume they have to take a loan with monthly mortgage … More informaiton please visit...
Read Morebuying our first home in Texas?
by 350.org Question by cheryl4785: How come my loan officer wants me to show my bank statements? I am doing a Stated Income loan. Why do I need to show bank statements if I have direct deposit from my employeer? That would be “showing my income” compared to “stating my income.” Do I have to show them? And, remedy this is there another way around it? Please help! Best answer: Answer by DethruhateThis way they can see if your wages are being garnished at the bank, pill or if you are way overdrawn on your bank account to the point that they might not be able to collect on your payday loan. Also, if you have a direct withdrawl at your bank for a loan at that same bank, they usually take out that payment from your paycheck before they put any other checks through. Therefore, they may want to check to see if theres any of those that might make the loan payment to them bounce. Give your answer to this question below! Question by Gi J: buying our first home in Texas? I know nothing about real estate, approved for please forgive my silly questions in advanced. We have been renting and at the same time saving hard for our downpayment….we so far have about $ 5000 in savings. We want an FHA loan BUT for a 15year mortgage, price the rent we pay now I think equivalates to that of a monthly mortgage for a 15 year loan. Would it be possible to put down the minimum FHA downpayment to qualify for a 15 year mortgage? Best answer: Answer by falsi fiableFHA requires a 3.5% down payment. Additional fees and closing costs will run another 2%. That will leave you cash starved on a $ 100, there 000 home. You should save a lot more money before buying and look at a 30-year conventional mortgage. Rule of thumb is that you can afford a house that is about 3 times your gross annual income. Some people qualify for more based on their individual situation (mine is 4x). Rule of thumb #2: Your mortgage payment (principle, interest, property taxes, and insurance) should not exceed 28% of your gross monthly income. If you have no other debts (no car loans and you don’t carry a revolving balance on your credit cards) you may have slightly higher limits. Your total debt load (mortgage plus auto and other minimum debt payments) may not exceed 38% of your gross monthly income. For best rates, you need 20% down and 740+ FICO. With less than 20% down you will have PMI (Private Mortgage Insurance). Learn more by reading “Home Buying for Dummies” available from your public library or independent bookseller. Give your answer to this question...
Read MoreQ&A: What’s the best mortgage interest rate I can get in Northern Virginia at this time?
Getting a mortgage after bankruptcy or foreclosure … house, web ed the wait could be even shorter. Although financial difficulties remain part of your record forever, web you can qualify for a mortgage as soon as 24 months after the fact if your issues were the result of "extenuating circumstances" over which … If you would like more informaiton please visit here… New rules aim to reduce risky home loans Millions of homeowners got into trouble after taking out loans with no or low down payments that many didn't fully understand as interest rates skyrocketed, order unemployment soared and the housing market crashed. The rules unveiled Thursday are a result of … For more informaiton please visit here… Question by JohnPau2010: How to check as what banks are giving good mortgage interest rates ? 1) Is there a website where we can check as what banks are giving good mortgage interest rates ? 2) Do we have to look only local banks where I live ? If I live in ILLINOIS , pharmacy do I have look for a lender or bank in IL only ? 3) Any suggestions as which bank is good ? Best answer: Answer by jgsudderththe best way place to start is www.lendingtree.com it’s very similar to progressive where you can view side by side loans and compare the differences between them What do you think? Answer below! by marsmet526 Question by KB: I want to refinance, price but my mortgage is not owned by Fannie Mae or Freddie Mac? I don’t have any equity in my home and my first trust is higher than my current home value. I have been making my payment on time. My house is down 26% in value and my interest rate is @ 9.25%. Like many of us, this I feel i have been victimized by the fall of the housing market and superficial prices. It is ridiculous to be paying 8.25% rate, when the current rates are at 4.5% – 5%. Any advice on how to address the situation will be much appreciated. Best answer: Answer by Patricia DI know this doesnt apply to you but… just in case, it never hurts to check if the mortgage is owned by Freddie or Fannie. The program is called the “Affordability and Stability Program”, and there is hope for those of us who have been responsible but are victims of circumstance. First find out if your morgage is owned by Freddie or Fannie Have your account ready and call either 1800-Freddie or 1800-7Fannie or call your current lender and they might be able to see who owns it. If its owned by Fannie you can call most mortgage borkers and they will be able to refinance if meet the qualifications. If its owned by Freddie you can only call Bank of America. Ask to speak to a Refinance team about the new government program to refiniance your home. For now they will put you on a list until the program is finalized. I hope this helps. If its owned by Freddie only bank of What do you think? Answer below! by ell brown Question by Terry: How can day-traders qualify for home loans? Technically, ed I have no employer. I can make $ 20, price 000 in a month, dosage and then not make anything next month. Can you still qualify for a home loan with this source of income? Do state laws vary? I’d be interested to move to Texas or Maryland. All these answers suck thus far. Come on Y!A Community! You can do better. Someone please...
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