Mortgage pre-approval questions (FHA fixed loan)?
A couple of great apartment constructing photos I found: Oakland Image by edgeplot Apartment constructing. More great houses click right here… The lamp Image by Geir Halvorsen .. and the apartment developing. Much more great houses click right here… Arizona Refinancing Expert Explains New Residence Reasonably priced Refinance Program Phoenix, diagnosis AZ — (SBWIRE) — 08/23/2012 — Help has finally arrived for Arizona property owners whose home values have dropped over the past couple of years. In order to reduce fees of mortgage installments today and get a good fixed rate plan underway … If you would like more informaiton please go to here… Mortgage Q&A: Borrowing for refi is one resolution For numerous causes, try they had been not eligible for the oft-touted House Inexpensive Refinance Plan (HARP). If you have read my prior columns, this web you will know … equal to 90 percent of the home's current worth. The house appraised for $ 415,000, which … Far more informaiton please check out here… Question by Tim6298: Mortgage pre-approval questions (FHA fixed loan)? 1.) Once we get all of our paper work together or go to our bank, dosage about how long before we get an answer on whether or not we are approved? 2.) If we get pre-approved, remedy once we find a house, is that approval only good for getting a mortgage at that bank? And on average how long is a pre-approval good for, not sure when we might close on a house, so I dont want to get pre-approved in the next few weeks, just to go through it again if we dont find a house right away. Best answer: Answer by Gorkbark Porkduke Gefunken FubarYou are going to run into a problem where the bank will keep demanding more paperwork, and this will go on for so long you will eventually drop the whole idea of buying a house. this is the trend I have noticed. The pre-approval is only good at that particular bank; it’s a part of their own application process and they are not about to share information on a prospective customer with another free-loader competitor bank. A pre-approval might be good for 30 or 60 days, but they will drag out their demands for more paperwork long past that point. The only option is to wait until you have saved enough money to pay the entire purchase price in cash, or are able to find a seller willing to hold a mortgage. On the plus side, house prices still have to drop another 50 to 75% to work out the inflated prices caused by government meddling in the financial and real estate markets over the past 50 years. Give your answer to this question...
Read MoreFHA eases burdensome condo financing rules
by marsmet526 Question by Dolan A: Is there a government refinance assistance program available? I have decent income and credit, visit web capsule but not a good home mortgage. I want to refinance but my loan is above the market’s value, viagra approved and my loan is not with Fannie Mae nor Freddie Mac. Is there any government program that will get me a loan without mortgage insurance? I checked out MakingHomeAffordable.gov, and the site says, I “don’t quality” for any of the available options. Any other suggestions? Best answer: Answer by BNICKSwww.makinghomeaffordable.gov check out the website … either option on the site refi or modification would help … i wouldn’t worry to much about having mortgage insurance … What do you think? Answer below! FHA eases burdensome condo financing rules The certification process is intended to provide the FHA, buy information pills a government-run mortgage insurance agency, with key information about a development's legal, physical and financial status. Without approval of an entire development — regardless of whether it … If you would like more informaiton please visit here… FHA Relaxes Condo Rules 13 and took effect immediately, should make it easier for large numbers of condo associations to seek certification by FHA. The certification process is intended to provide FHA, a government-run mortgage insurance agency, with key information about a … For more informaiton please visit...
Read MoreMortgage Rates Reach Record Low; HARP Applications Spike
Deals are just harder, order mind but why? It would be easy and cheap (and not very popular with me) to blame the lawyers for this, but there is something more, and very tangible, going on here. Commercial real estate was never graced to the “No Doc. Loans” that made the housing market the … For more informaiton please visit here… Question by : Can I shop for other lenders through a mortgage broker under the new HARP refinance guidelines? I believe I am eligible for a HARP refinance with my current lender (Citi), medicine but Chase (a participating HARP refinance lender) advertises better rates. I have a close family friend in the mortgage industry as a mortgage broker and I was wondering if I am able to use his brokerage to look into other options for my HARP refinance, sildenafil Any thoughts? Best answer: Answer by Shawn HI believe this should help you: http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx Know better? Leave your own answer in the comments! by SS&SS Question by mmcpo29: No docs loan/stated income home loans? I need some help with no docs/stated income home loans. My husband and I are in the process of getting pre-approved for a home loan. I was assigned a loan officer that asked for all documents, website like this W-2, look pay stub, ailment bank statements, 401K. I provided him with all documents. He told me he will be using a stated loan because the fact the my husband pays child support will disqualified us. My husband credit is in the upper 700’s close to 800 for the highest and mine low 700 lowest 706. Now here come the question is this loan officer trying to take advantage of us? If we provided proof of income don’t we should be doing a full loan documentation? Oh and he is using my credit score vice my husband and he stated the reason child support again, we were approved already for a mortgage but the loan officer was not honest and we backed out of the deal and child supports was never an issue. I live in the San Diego, CA area. Can I make this loan officer use my husband score and full loan doc? Thx Best answer: Answer by little eccyYou can’t make him do anything, he is only doing his job. find another source to get your loan and ask up front on all relevant info regarding getting the loan. Doc/no docs, stated income, interest rate, points if any, appraisal fee, pre payment penalty. have him put everything in writing so you know exactly what you will be getting. What do you think? Answer below! Mortgage Rates Reach Record Low; HARP Applications Spike Mortgage rates improved for conforming mortgages, more about FHA mortgages, link VA mortgages and USDA loans. Jumbo mortgages improved slightly, too. Click here to get today's mortgage rates. Freddie Mac : Mortgage Rates At 3.49% Nationwide. Thursday, Freddie Mac's … If you would like more informaiton please visit here… Take Advantage Of The Lowest FHA Streamline Refinance Rates To Save Your … All that applicants need to make sure is that their present home mortgages are being owned or guaranteed by the FHA and that they are current on their monthly mortgage payments for the past 12 months. It is needless to say that FHA streamline refinance … If you would like more informaiton please visit...
Read MoreImproved housing market can't slow the drive to rent
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 here… Henderson-area Community Events Calendar, side effects Nov. 26-Dec. 2, check 2015 Members of the Winchester Star Catchers Dance Program perform "You're a Mean One, malady Mr. Grinch" during Santa's arrival in center court Nov. 6 at the Galleria at Sunset mall, …. Visit parks.nv.gov/parks/spring-mountain-ranch-state-park. The Summit Big … More informaiton please visit here… What you might have missed from the week in business The US government has been working to limit these so-called “inversions,” where US companies acquire foreign firms in part to escape higher US corporate tax rates. Analysts said the … The $ 99 robotic cat follows on the heels of Sony's robotic dog … If you would like more informaiton please visit here… McHenry Applauds End of HAMP Program “For more than four years, buy more about I have been front and center in trying to help homeowners and protect the American taxpayer by ending President Obama's wasteful and failed mortgage modification program. I am pleased to say that day has finally arrived. More informaiton please visit here… Scammers try to pry money from Ocwen customers You are approved to enter into a trial period plan under the Home Affordable Modification Program. This is the first step toward qualifying for more affordable mortgage … Government agencies and Ocwen are warning consumers it is a scam. The offer … More informaiton please visit here… Freddie Mac publishes single-family loan-level data for all fixed-rate mortgages … on adjustable-rate mortgages, balloon mortgages, initial interest mortgages, government-insured mortgages, relief refinancing mortgages (including Home Affordable Refinance Program) and other affordable or “non-standard mortgages,” Freddie Mac said. For more informaiton please visit here… Wealth Adviser Daily Briefing: 'Don't Plan Beyond Age 73. I May Not Live That … Mr. Pfau, cialis 40mg who is also a professor of retirement income at the American College of Financial Services, patient argues that since 2013, the federal government has continued to refine regulations for its Home Equity Conversion Mortgage program, making changes “to … If you would like more informaiton please visit here… Mortgage Purchase Applications Flat during Week of December 4 Every week, the MBA (Mortgage Bankers Association) puts out an index of mortgage application activity. Mortgage applications are relevant to a number … (NLY) and American Capital Agency (AGNC). Mortgage applications also relate to homebuilders such … If you would like more informaiton please visit here… 35 Percent of U.S. Housing Markets Reach New Price Peaks in 2015 Other major markets with double-digit appreciation compared to a year ago included Palm Bay, ampoule Florida (up 15 percent), buy Modesto, California (up 14 percent), Raleigh, North Carolina (up 14 percent), Washington, D.C. (up 13 percent), Philadelphia … More informaiton please visit here… When a Reverse Mortgage Is a Good Idea for Retirement Income The loan, sildenafil which can be taken as a lump sum, recipe lifetime payments, or a line of credit, doesn't...
Read MoreFHA rules forbid people from having more than four home loans. Where to get a mortgage for my fifth house?
of robswatski Why is it difficult to get a home equity loan? products by Jessica Bennet If you would like more informaiton please visit here … More Stated Income Home Equity Loans articles Question by PatoJAM: FHA rules forbid people from having more than four home loans. Where to get a mortgage for my fifth house? Best answer: Answer by Expert RealtorWhen you have more than X number of homes, here you generally need to start getting commercial loans which are more diffcult to get. You can’t get an FHA loan for anything other than your own, cialis 40mg primary residence, or else you’ll be committing occupancy fraud. What do you think? Answer...
Read MoreQ&A: How can I shop for best mortgage rate without paying the application fee each time?
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 More