I would like to know wether I am eliglble for a no deposit home loan with credit default?
Question by catchi: home foreclosure HELP where do we go and how do we start refinancing? Wasn’t the bailout suppose to help homeowners refinance if they were facing foreclosure? How? Was there any agency or website to go to in order to start the process? Best answer: Answer by tkahrs12122No the bailout did not include help for delinquent homeowners. You need to deal with the refinancing on your own. Start with your current mortgage holder and see if the will lower the interest. What do you think? Answer below! Question by TD: What would be the best possible Home Loan I could get buying a co-op? I heard that you cant use the nothing down or 3% mortgages on a co-op purchase. Is this true I live in NY. WOuld I hav eto put down 10% no matter what. Also FYI Most one bedroom co-op go for atleast $ 130, hospital 000, and 10% of that is 13,000 and the HUD and FHA mortgage and program say that they can only give you 3% or 5,000 down. Best answer: Answer by Blue Octoberthe best possible home loan is going to depend on your credit. i want to suggest that you speak with your local banks…they know you the best, and they are local -in case you need them in the future. I am sure you are aware of the large amount of foreclosures across the nation. This lends itself to the way that banks and lenders are now doing business. The days of nothing or very little down are almost gone. You will need to come up with a min of 20% down and stick with a 30 years fixed no prepay penalty loan. Do not accept or get into any creative financing or ARMs (adjustable Rate Mortgages)…these loans have a high failure rate to foreclosures. stick with your local banks…good luck on your purchase 🙂 Give your answer to this question below! by eyewashdesign: A. Golden Question by anpresco: What factors do lenders consider when applying for a home loan? My boyfriend and I are applying for a home loan. The loan officer wants to use both of our credit and financial info for the application. I have both the better credit and longer employment history, seek but need my boyfriend’s additional income to qualify for the amount we need to purchase a home. Will his less than established credit hurt us, treat or will it not matter? Best answer: Answer by Beverly SYour loan officer makes the decision based on what you need to qualify. Most likely you won’t qualify with just one income. The fact that his credit is less established won’t hurt him as long as its not “bad”. Lenders are looking for 2 years steady employment, order 2 years good credit, & property of enough value & re-salability in case of problems. Sounds like you need him (boyfriend) & he’s gonna help not hurt. Add your own answer in the comments! Mortgage Rates : For The Week Ahead, view Lock Or Float? The Ginnie Mae (GNMA) 3.0% 30-year coupon finished better last week, symptoms too, viagra 60mg moving +17/32. Ginnie Mae mortgage bonds are linked to FHA and VA mortgages so mortgage rates for the FHA Streamline Refinance and VA IRRRL mortgage programs fell last … For more informaiton please visit here… Why is the FHA Streamline Refinance So Popular? 28, 2012 — /PRNewswire-iReach/ — Record low mortgage rates have encouraged many Americans to refinance their mortgage this year, and the most popular option by far has been the Federal Housing Administration's (FHA) Streamline...
Read MoreQ&A: does anyone have any resorces on low or bad credit home loans?
Question by …: does anyone have any resorces on low or bad credit home loans? I am trying to find a home loan but i dont have good credit my score is pretty low and i dont have much of a down payment does anyone know of any place i could look to mabey get a home loan in florida? I am new to the whole process and dont know what to look for a lot of places say bad credit is ok but you have to have at least a 600 credit score?? I dont know where to look anymore. Thanks for the help. Best answer: Answer by steve g You may qualify for an FHA loan. The down payment is low and the credit scores aren’t as important. Know better? Leave your own answer in the...
Read MoreQ&A: What factors do lenders consider when applying for a home loan?
Question by catchi: home foreclosure HELP where do we go and how do we start refinancing? Wasn’t the bailout suppose to help homeowners refinance if they were facing foreclosure? How? Was there any agency or website to go to in order to start the process? Best answer: Answer by tkahrs12122No the bailout did not include help for delinquent homeowners. You need to deal with the refinancing on your own. Start with your current mortgage holder and see if the will lower the interest. What do you think? Answer below! Question by TD: What would be the best possible Home Loan I could get buying a co-op? I heard that you cant use the nothing down or 3% mortgages on a co-op purchase. Is this true I live in NY. WOuld I hav eto put down 10% no matter what. Also FYI Most one bedroom co-op go for atleast $ 130, hospital 000, and 10% of that is 13,000 and the HUD and FHA mortgage and program say that they can only give you 3% or 5,000 down. Best answer: Answer by Blue Octoberthe best possible home loan is going to depend on your credit. i want to suggest that you speak with your local banks…they know you the best, and they are local -in case you need them in the future. I am sure you are aware of the large amount of foreclosures across the nation. This lends itself to the way that banks and lenders are now doing business. The days of nothing or very little down are almost gone. You will need to come up with a min of 20% down and stick with a 30 years fixed no prepay penalty loan. Do not accept or get into any creative financing or ARMs (adjustable Rate Mortgages)…these loans have a high failure rate to foreclosures. stick with your local banks…good luck on your purchase 🙂 Give your answer to this question below! by eyewashdesign: A. Golden Question by anpresco: What factors do lenders consider when applying for a home loan? My boyfriend and I are applying for a home loan. The loan officer wants to use both of our credit and financial info for the application. I have both the better credit and longer employment history, seek but need my boyfriend’s additional income to qualify for the amount we need to purchase a home. Will his less than established credit hurt us, treat or will it not matter? Best answer: Answer by Beverly SYour loan officer makes the decision based on what you need to qualify. Most likely you won’t qualify with just one income. The fact that his credit is less established won’t hurt him as long as its not “bad”. Lenders are looking for 2 years steady employment, order 2 years good credit, & property of enough value & re-salability in case of problems. Sounds like you need him (boyfriend) & he’s gonna help not hurt. Add your own answer in the...
Read MoreHow can get home loan if I have low income, but can pay down good payment?
Some cool condominium images: Terrace Row Condominiums Image by davereid2 Terrace Row Condominiums Construction Nears Completion Much more fantastic houses click right here… by eyewashdesign: A. Golden Question by George Nelson: How can get home loan if I have low income, salve but can pay down good payment? I was wondering, buy information pills as everyone says it is hard to get loan these days, if could be able to get loan. I have very low self employed income for past years. If I was going to buy house for 200K and had income about 700 dollars a month. Would bank give me loan if I put 60K down payment? My grandfather just passed and I inherited the money. Thank you Best answer: Answer by Age of ReasonNo because you cannot repay the mortgage of 140k plus property tax and house insurance. Find a cheaper house What do you think? Answer...
Read MoreStated Income, No Income Home Loans CaliforniaEquity Trust Mortgage
Thinking Of Buying A Home In 2010 Or 2011? Stated income mortgage ?oans – A ?tated income mortgage ?oan was designed for borrowers who ?an’t verify their ?ncome with traditional ?ncome documentation, abortion typically these borrowers are ?elf-employed or work for tips have s?asonal employment or work on commission. A stated income m?rtgage loan is ? good option ?f you would have difficulty proving ?our income The income that you state on the m?rtgage application must be average in ?our occupation and a?sets are generally verified. This means that if you ?re a waitress ?nd you say ?ou make $10, information pills 000 ? month it may raise some e?ebrows in underwriting. In Florida, you ne?d to find ju?t the right pers?n who knows h?w to get the best stated income self employed loans possible. If y?u are a self-empl?yed borrower in Flor?da then you wi?l have your own set of issu?s getting a mortg?ge that other peop?e may not have. One of ?ur professional Florida mortgage specialists can help you with ?our stated income ?oan and get ?ou the house that you have ?our eye on. Don’t let the fact that you ?on’t have a W2 job and that your loan will be paid ?ff using self ?mployment fund stop ?ou from getting ?nto the home ?f your dreams. 100% LTV – r?duced documentation programs were designed by “profiling” borrower types. The t?pical profile of ? stated income a?plicant was a b?rrower with irregular income because he/she e?rned seasonal or c?mmission income, and was typically self-employed. Appl?cants were qualified u?ing their “stated “ annual income Stated Income Loans for the previous two years. Loans were underwritten and closed under this honor sy?tem, as lenders typ?cally did not verify a borrower’s st?ted earnings with the IRS. Stated in?ome was also ext?nded to wage earners at 100% LTV with FICO min?mums set as ?ow as 580. Primary, se?ond, and non-owner residence?. A problem presented it?elf because loan modifi?ation companies were charging homeowners upfront f?es to begin working on these modific?tions. The fact ?s that too m?ny consumers were ?n financial distress and requesting modifications and certain loan modification companies did n?t have enough personnel on staff to handle all ?f their clients. As a result, th?y were unable to complete as many modifications as there were requests f?r modifications. The governm?nt of California step?ed in and wrote new loan modification regulations that stat?d it would be unlawful to char?e upfront fees ?f anyone in foreclosure requesting to chan?e the terms ?f their loan Who are stated income mortgage loans m?ant for? For the most part, this loan is for the self em?loyed borrower who c?nnot document all ?f the income ?r shows a v?ry low net income on the tax return. In ad?ition, a stated income mortgage loan ?s great for ? person who e?rns some salary but also cash that is not docum?nted anywhere. An example would be ? waiter, bar ten?er, valet parking atten?ant, limo driver, etc One other t?pe of borrower who may opt f?r a stated in?ome mortgage loan ?s someone who coll?cts rental income but does not h?ve signed leases to verify that in?ome stream. Stat?d income mortgage loans are making ? slow comeback and it is ? good thing. The lending regulations ?n our opinion were over-tightened. Now, y?u have legitimate ?elf employed borrowers who cannot get ? loan. That ?s a problem which needs to be fixed. If ?ou are not ?oing to bring ?tated income loans back in full force, then the full documentation guidelines need to change for self employed borrowers. They should use...
Read MoreHow should I get a mortgage loan with low credit score?
Question by bambam: Does anyone know of mortgage bankers or direct lenders who do low FICO purchases in Maryland? I am looking to purchase a home in Baltimore County Md. and I am in the process of cleaning my credit . I have limited funds, sale pills therefore I’m looking put as little down as possible. Best answer: Answer by unisberkensaphttp://www.naca.com 100% financing 5.25% 30 yr fixed rate credit scores don’t matter No closing csts What do you think? Answer below! A few good mansion pictures I discovered: Mansion Hotel Image by feldpress Mansion Hotel Grand Opening Could 12, there 2007 Porsche A lot more fantastic houses click here… Pittock Mansion | No. 1 Image by PhotoAtelier (Glen) I wanted to shot 3x exposure HDR in Pittock Mansion in Portland, price Oregon, but I was told tripods were forbidden. (We’ve all heard that prior to.) Of program there have been stylish ladies wobbling about in higher heels and even an elderly lady creeping along with a walker and that was viewed as just routine stuff. But a tripod, stabilizing device that it is, was an instrument of disaster! I pressed them on the concern telling them (truthfully) that I shot photographs for regional news e.g. Salem-News.com. The lady told me with a completely straight face that they would let me in before hours as extended as I could offer proof of a million dollars in insurance. So, you happen to be going to see a series of not-so-great photographs shot hand-held at 1600 ISO. Not the greatest setting for my Canon Rebel XT. One particular day they will be sorry they missed the opportunity to have me shoot their museum for free. If you would like to see a lot more properties click right here… Mansion Hotel Image by feldpress Mansion Hotel Grand Opening May possibly 12, 2007 Wang Xiaohui A lot more excellent houses click right here… Question by unknown11233: How should I get a mortgage loan with low credit score? Ok here is my situation. I am trying to get the no income verification loan to buy my first house. I have 10% of the price of the house to pay for down payment. About my credit: I have everything paid off in full. All debts are paid off in full. but this was recently so my credit score didn’t go up yet it still at 515. Now my question: Can I get a no income verification loan with my credit score this low? Also How long does it take to update my credit score? Best answer: Answer by jwilliams22mnOk, and wait a few months. Your credit score will go up dramatically. It will be worth the wait. Then, you do NOT use any of your money for a down payment. If you are a first time home buyer there is absolutely no need for that. Wait until you have the ball in your court with a good credit score and excellent savings. We bought our house recently with a credit score of 650, and major past problems.We got a zero down loan at 6.1% 30 year fixed. You can do this too! Good Luck! Add your own answer in the...
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