Does my unemployment income count when applying for a home loan?
Question by Juanito: Does my unemployment income count when applying for a home loan? I recently filed for unemployment and I am getting a steady check from the unemployment office. My girlfriend is still employed full-time and her job seems to be stable. We want to see if we qualify for a home loan using her income and my unemployment income. Do you know if my unemployment income counts and if it will help us in getting approved for the loan or if it will hurt us? Best answer: Answer by alexYES….. What do you think? Answer...
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by Editor B Question by dangit2: What are the requirments for the Seller when the buyer wants to use a rural housing loan or an FHA loan? I know with an FHA loan the seller is required to pay for certain things what are they and also what are the things that a seller is required to pay when the buyer wants to us a rural housing loan? Are there any special requirments that the seller is required to do for the house to qualify for these loans…especially if it is a newly built home? Best answer: Answer by teesha fIf this is a newly built home there shouldnt be anything. FHA has changed allot recently. Before FHA would have an inspoection done that was very tedious. Now they just send an appraiser and if he/she sees something that could be a problem they will note that. When writing a contract for a home that would be purchased with FHA there will be a form that stated what they want the seller to pay in repairs for the FHA loan. It usually is around $ 500. THese would be for repairs that normally wouldn’t need be in a newer home. On the RDA loan I believe it’s the same. If your home is newer and their isn’t any safety hazards like showing wires or leaking roofs etc you should be fine. I just had a house built in 1950 pass just fine. Give your answer to this question below! Question by jimmy Shergil: How much down payment for stated income loan in Illinois? My sibling’s documents and income of $ 30k year may not qualify for a mortgage loan amount of $ 220k. I am self employed and can’t document my income but we both got excellent credit score of over 750. I was told my some banks that if that’s the case, page we have to do stated income loan but need 20% down and little bit higher interest rate than on traditional loan. Is there any lender or bank that doesn’t require 20% down on stated income loan? Thanks Best answer: Answer by sadeedear friends now u can get ur home loan, nurse or Personal LOAN , Business Loans or PAY DAY LOANs , Pre-approved Loans, education loans etc., very easily by this ……….. http://www.freewebs.com/get–loan Know better? Leave your own answer in the comments! by Editor B Question by James: Can I convert a USDA Loan to a Conventional Loan? I’m interested in purchasing a home and like the USDA loan option (0% down, this low MI). What concerns me is two things: 1. The interest rate is about 0.5% higher than FHA or Conventional loans, here 2. The Mortgage Insurance (MI) never goes away unlike the FHA loan. So, after a while of owning, would I be able to convert my USDA loan to a conventional loan and get rid of the MI? Thanks. Please provide some credibility or resources that will be helpful in confirming the answer. Best answer: Answer by the kidYes, by refinancing. Give your answer to this question below! Some cool apartment developing photos: 03f St Regis (E) Image by Kansas Sebastian Long Beach Historic Monument No. 16.52.140 St. Regis Apartment Developing, stomach 1926 1030 E Ocean Blvd, recipe Long Beach, decease CA Joseph H Roberts Positioned at 1030 East Ocean Boulevard in the city of Long Beach, the St. Regis Apartment Building is a seventy-six unit, eight-story, brick and masonry higher rise structure resting on the ocean front bluff at Ocean Boulevard and Second Location. The penthouse that comprises the eighth...
Read MoreHow much down payment for stated income loan in Illinois?
by Editor B Question by dangit2: What are the requirments for the Seller when the buyer wants to use a rural housing loan or an FHA loan? I know with an FHA loan the seller is required to pay for certain things what are they and also what are the things that a seller is required to pay when the buyer wants to us a rural housing loan? Are there any special requirments that the seller is required to do for the house to qualify for these loans…especially if it is a newly built home? Best answer: Answer by teesha fIf this is a newly built home there shouldnt be anything. FHA has changed allot recently. Before FHA would have an inspoection done that was very tedious. Now they just send an appraiser and if he/she sees something that could be a problem they will note that. When writing a contract for a home that would be purchased with FHA there will be a form that stated what they want the seller to pay in repairs for the FHA loan. It usually is around $ 500. THese would be for repairs that normally wouldn’t need be in a newer home. On the RDA loan I believe it’s the same. If your home is newer and their isn’t any safety hazards like showing wires or leaking roofs etc you should be fine. I just had a house built in 1950 pass just fine. Give your answer to this question below! Question by jimmy Shergil: How much down payment for stated income loan in Illinois? My sibling’s documents and income of $ 30k year may not qualify for a mortgage loan amount of $ 220k. I am self employed and can’t document my income but we both got excellent credit score of over 750. I was told my some banks that if that’s the case, page we have to do stated income loan but need 20% down and little bit higher interest rate than on traditional loan. Is there any lender or bank that doesn’t require 20% down on stated income loan? Thanks Best answer: Answer by sadeedear friends now u can get ur home loan, nurse or Personal LOAN , Business Loans or PAY DAY LOANs , Pre-approved Loans, education loans etc., very easily by this ……….. http://www.freewebs.com/get–loan Know better? Leave your own answer in the...
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A couple of great large home pictures I located: huge property Image by rebecca anne Much more fantastic houses click here… by eyewashdesign: A. Golden Question by shaneka s: What is the requirements for stated income loans in CA? my sister is trying to find a lender that will let her due a stated income loan. She makes around 78k a year and has a mod score around 650. She has about 150 monthly debt that she pays every month. The house price that she is looking for is around 250k and she wants 100% financing. Is there still lenders doing stated and if so what is the min credit score. If she can’t do stated what is the lease amount of paper work she has to provide the lender? Best answer: Answer by mscarriemThere is no stated loans anymore at 100% financing, story why does she want to go stated anyhow, buy she should qualify fair and square and provide the proper documentation to show she can afford the house, there are lots of mortgage calculators she can check out and see what she can afford on what she can document income wise. Most lenders now also require 5% down if she is buying in a area that is in a delcining market which most of california is. SO I wish her luck, remember if she is trying to go stated to avoid showing income because she is stating more than she makes, that is a federal offence and she will go to prison, and pay fines for lying on mortgage documents, Know better? Leave your own answer in the comments! by marsmet531 Question by bsbro: Types of mortgages for a commercial building? I am trying to purchase a mixed use building (5 residential units and 2-4 commercial stores) in NJ. I know that commercial mortgages are a little different from home mortgages (i.e. there are no 30 year loans). What different types of mortgages are available for purchasing a building like this? Also, dosage the money borrowed to buy a home is called a mortgage, is it also the same term used for buying a commercial property? Best answer: Answer by MtgAdvsr1They actually do have 30 year loans! The market has quite a bit of programs for Commercial purchase loans. Most of the financing available is similar to home loans the biggest difference is how you qualify for a home mortgage vs a commercial loan. We have 30yr, interest only, balloon, and adjustable loans for commercial loans. When you are buying a commercial property they refer to the money borrowed as a loan and not a mortgage to answer your last question. Feel free to contact me if you have any questions, I would love to help. Add your own answer in the...
Read MoreWhat is the requirements for stated income loans in CA?
A couple of great large home pictures I located: huge property Image by rebecca anne Much more fantastic houses click here… by eyewashdesign: A. Golden Question by shaneka s: What is the requirements for stated income loans in CA? my sister is trying to find a lender that will let her due a stated income loan. She makes around 78k a year and has a mod score around 650. She has about 150 monthly debt that she pays every month. The house price that she is looking for is around 250k and she wants 100% financing. Is there still lenders doing stated and if so what is the min credit score. If she can’t do stated what is the lease amount of paper work she has to provide the lender? Best answer: Answer by mscarriemThere is no stated loans anymore at 100% financing, story why does she want to go stated anyhow, buy she should qualify fair and square and provide the proper documentation to show she can afford the house, there are lots of mortgage calculators she can check out and see what she can afford on what she can document income wise. Most lenders now also require 5% down if she is buying in a area that is in a delcining market which most of california is. SO I wish her luck, remember if she is trying to go stated to avoid showing income because she is stating more than she makes, that is a federal offence and she will go to prison, and pay fines for lying on mortgage documents, Know better? Leave your own answer in the...
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Mortgage issues to watch during Obama's 2nd term You probably knew that homeowners can refinance underwater mortgages through the Home Affordable Refinance Program. HARP is now available for other types of properties as well. You probably knew that homeowners can refinance underwater … More informaiton please visit here… Home Affordable Loan Modification Can Help Homeowners Keep Their Homes The Obama administration devised the homes affordable modification program just for hard-working property owners who are having a tough financial time right now. This government-sponsored plan offers different ways to aid a person, order buy more about and they are … More informaiton please visit here… Question by Lucy S: What are the disadvantages of refinancing when ones property is devalued by about , and 000? I would like to know if it is worth it to refinance a mortgage that has only about 12 years left, recipe just to take advantage of a lower rate, approved so as to pay less monthly mortgage. I am between jobs and finding it difficult to pay. Also does refinancing put cash back in your hands? Please help! Best answer: Answer by KateGRefinancing has costs for you to do, and while it may lower your payments, since your loan is so far into it, refinancing might actually set you back. You are now paying down equity, while in the early part of a loan, you are paying interest only. You need to figure out what the loan cost would be, what the monthly payments would be and your equity situation. And no, refinancing does not put cash in your hands. Refinancing is taking the value of the home and rewriting a loan, so essentially you are starting over. You are better off right now trying to work it out, using other cost cutting measures to save money elsewhere. Unless you are paying an excessively high mortgage rate, I wouldn’t do it. http://moneycentral.msn.com/content/banking/homefinancing/p42715.asp Add your own answer in the comments! Question by stephren88: Does anyone know much about Calpers FHA home loan programs? My husband and I are in the market to buy a home. We were thinking about Calpers FHA home loan. I have a credit score of 580, symptoms long story, search and my husband has a credit score of 724. Can we qualify for a home loan? It seems like the rules are always changing Best answer: Answer by mgonvelezIf both you & your husband are applying for the FHA via Calpers, sickness they will go for the higher credit score (your husbands) They also usually pull all 3 credit scores too. You should contact them, CalPers has excellent service with answering any of your questions concerning this. This also applies with credit unions too. What do you think? Answer below! FHA Loan Limits Are Tailored to Ohio's Housing Market FHA loan limits are the maximum amounts that the federal government is willing to insure, sildenafil which vary from place to place. The great majority of Ohio has an FHA loan limit of $ 271,500 for a single family home, $ 347,000 for a duplex, $ 419,425 for three … More informaiton please visit here… FHA Nears Need for Taxpayer Funds The New Deal-era FHA, which doesn't actually make loans but instead insures lenders against losses, has played a critical role helping the housing market by backing mortgages of borrowers who make down payments of as little as 3.5%—loans that most … More informaiton please visit here… Jeffrey R. Scharf, Everybody's Business: The next tax sinkhole? Instead of hoping the FHA will get lucky, Congress should get smart by mandating higher down...
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