Q&A: What kind of mortgage rate can a borrower expect to get with a credit score in the range of 661-669?
Some cool chateau photos: Le château d’Amboise (Indre-et-Loire) Image by sybarite48 Château d’Amboise (37) If you would like to see a lot more houses click right here… It's Our Interest: The Need to Reduce Student Loan Interest Rates Reduced student loan costs boost the likelihood of repayment while also stimulating the economy by freeing up income that can be used and spent in other sectors of the economy. Refinancing even just those federal student loans with an … Borrowers … For more informaiton please visit here… Terri Ludwig, prescription Social Entrepreneur: Generosity is Contagious From 2002 to 2009, Terri served as President of the Merrill Lynch Community Development Company, where she led community development, committed more than $ 2 billion in loans and investments, launched a successful social investment platform for Merrill … If you would like more informaiton please visit here… Question by acvader: What kind of mortgage rate can a borrower expect to get with a credit score in the range of 661-669? Professionals please answer. Any website links with more information would be appreciated. Best answer: Answer by just common senseIt will depend upon the lender and the type of loan (conventional, more about VA, FHA, etc.) Your credit score is not bad for a home loan. ALWAYS shop loans. Do not waste your time doing this on the internet; you will have so many hits against your credit report that it can actually knock your score down 100 points or more! Contact several lenders in your area, by telephone or in person, and ask to speak to a loan officer. Tell the loan officer the details of your credit score, anything negative on your credit report, what type of loan you are seeking, and ask what the current rate is for that day. Interest rates fluctuate daily. Ask them if, based on the information you’ve given them, they would be likely to approve you for a home loan. If they demand to run your credit report, tell them you are currently only shopping rates and you will contact them again when you are ready to have your credit report ran. If several lenders run your report at the same time (NOT lenders over the internet, remember!), then your score will not drop so much as it will be obvious that you are looking to obtain a mortgage loan and you are shopping loans. Ask each loan officer what the policy of their Company is for “locking in a rate.” If you don’t know what that term means, ask the first lender; they can better explain it. In short, most lenders offer a certain period of time once you have been approved where you can “lock in” a good interest rate. It’s a bit like gambling. Do you, for example, take today’s interest rate ~ let’s say it’s 5.75% ~ and lock that rate in or do you wait for a lower rate? It is *possible* for the rates to go down, but it is also possible for them to go up. Your loan officer should be able to best guide you on what they believe the rates will do over the next day or so. You will also want to know how long the locked in rate is good for: is it good for a week? 10 days? 15 days? This tells you how much time you have to find the property you want, have a Contract written by a real estate professional, and make an offer. Once you have found your lender, obtain a pre-approval letter. You want a letter to show to your...
Read MoreQ&A: How can I refinance from FHA to a conventional loan with little or no money down?
by marsmet526 Question by Brian: Educated guesses about when the FHA 30yr fixed rate will drop and how much? I’m a first time home buyer and I was just preapproved for an FHA loan with a 6.5% rate. Three months ago I was approved for a conventional loan at 6.25%. I’m just wondering when analysists are predicting rates to drop? Best answer: Answer by Natalianot soon the rates are going to go up for the next year unless the government lowers them again Add your own answer in the comments! Question by Cat: How can I refinance from FHA to a conventional loan with little or no money down? Just over 6 months ago, viagra dosage we bought a bank owned property. We’ve put at least 15 grand into fixing it up. I was told that we can switch to conventional with an appraisal that shows our property is worth 20% more as we don’t have cash for closing. Would we not have to pay mortgage insurance if we went conventional and why? I need a little guidance with this. Thanks! Best answer: Answer by MeJoin a credit union and work with them. What do you think? Answer...
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Today's Refinance Options: FHA, capsule website like this VA, visit HARP and Conventional Loans The FHA Streamline Refinance is a special refinance loan available to homeowners with existing FHA mortgages only. According to the program's official loan guidelines, ed the FHA Streamline Refinance waives income verification, credit score verification … For more informaiton please visit here… Are Low FHA Mortgage Rates Worth the Cost? In particular, Federal Housing Administration mortgage rates are often lower, and the loans themselves have some other attractive features that can be of interest to homeowners. But low FHA mortgage rates also come with some catches. Let's take a … More informaiton please visit...
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Some cool chateau pictures: Château de Boursheid Image by Marc Ben Fatma – check out Benymarc.com and like my FB Château de Boursheid (Castle of Boursheid ) If you would like to see a lot more properties click here… Question by Danielle: What’s the best place/way to apply for a home improvement loan? I inherited a home that seriously needs repairs. I don’t have great credit though and would like to apply for a low interest home improvement loan, sick but have no idea where to start. I do have access to a credit union. Thanks! Best answer: Answer by cafalldaviesBad credit is going to be your #1 problem, but if there is equity in the home you can borrow a Home Equity Line of Credit against it. Most commercial banks/credit unions will allow you to set up autopay on it so you don’t even have to think about making the payments… which is really good because if you don’t pay, you could lose the house. For most commercial banks you will need a minimum 680 FICO score or a cosigner with a higher score to get a home equity line, but credit unions often have lower standards, so you should check with your credit union. What do you think? Answer below! Question by Nelson: How do I become a mortgage broker or mortgage agent in California? I am fresh out of a college. Not just any college; a community college. And I need step by step how to become a mortgage broker or mortgage agent please. Thanks alot. Best answer: Answer by nostalgia80Get a job at the Mortgage Broker Office. at first, this site you’ll just answer phone calls and all, but eventually, you’ll either be a processor or agent. Know better? Leave your own answer in the comments! FHA to Tighten Mortgage Programs Carol Galante, more about the FHA's acting commissioner, discount in a letter Tuesday to Sen. Bob Corker (R., cost Tenn.) said the changes would be implemented by Jan. 31. The changes include suspending the FHA's most popular reverse-mortgage option that allows Americans 62 … For more informaiton please visit here… Tightening up on reverse mortgages In a letter Dec. 18 to Corker, acting FHA Commissioner Carol Galante announced plans for an “immediate cessation” of the standard fixed-rate version of the program. The moratorium will not shut down all forms of FHA-backed reverse mortgages. Borrowers … More informaiton please visit here… FHA Extends Foreclosure Relief to Disaster-Stricken Areas The Federal Housing Administration (FHA) has published Mortgagee Letter 2012-23 to help families with FHA-insured mortgages struggling to repair or rebuild their homes in the wake of major disasters like Hurricane Sandy. Mortgagee Letter 2012-23 … More informaiton please visit...
Read MoreAlternative to FHA loan saves buyer on mortgage insurance
Alternative to FHA loan saves buyer on mortgage insurance If the Cabalsi's buyers had used FHA, check buy they would have had $ 6, illness shop 600 added to their loan amount up-front and an additional $ 364 in monthly mortgage insurance. Cabalsi was able to offer a special loan that was structured as 5 percent down with no mortgage … If you would like more informaiton please visit here… FHA Home Buying Dollar Goes Far in Kentucky Current loan limits published by the government-backed mortgage program demonstrate that an FHA loan can be an affordable way to get into a single family home, a duplex, even a fourplex. FHA has loan limits for Kentucky residents with qualifying credit … If you would like more informaiton please visit...
Read MoreWhat do you do when your mortgage broker lies to you about your refinance?
GOP Governors Deny The Poor Health Care In Opposing Obamacare's Medicaid … Texas also claims distinction as a state with one of the more restrictive standards for Medicaid eligibility: It does not offer Medicaid to adults, viagra order visit this regardless of their income, web except some pregnant women, here poor parents with children at home, and people … For more informaiton please visit here… Seldom-used financial tool helps seniors purchase new homes without … A reverse mortgage is a type of home equity loan that has been around since the late 1970s and is designed to allow anyone 62 or older to turn the equity in their home into cash to supplement their income, via a line of credit, monthly payments or a … For more informaiton please visit here… Wait! Government did cause the housing bubble. The tsunami of money directed by a US Congress, worried about growing income inequality, towards expanding low income housing, joined with the flood of foreign capital inflows to remove any discipline on home loans. And the willingness of the Fed to … More informaiton please visit here… Company under state investigation doing inspections without proper license Before Pelicano's house, the state was awarding forgivable loans and letting the property owners get their own contractors and construction loans. But then the state began selecting the contractors and managing the work. But the construction management … For more informaiton please visit here… Question by Blondie: What do you do when your mortgage broker lies to you about your refinance? Working with a mortgage company to refinace my home and the agent keeps telling me not to worry, view we will close guarnateed. Now after a month and we still havent closed, help we havent made a house payment in 2 months because he told us not to, online and now the loan may not close because we are late with the mortgage payment. What do we do? Best answer: Answer by Glenn_11File a complaint with the FTC Use the link below http://www.ftc.gov/ftc/consumer.htm Give your answer to this question...
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