How to get into a house with marginal credit but a good income?
by danielmoyle Question by Keeping Secrets: What are the repayment term options for an FHA loan? Are there prepayment fees? Are there options other than 15-year or 30-year loans? Can I get a 20-year FHA loan? Do FHA loans typically have prepayment fees? Would I have an option to make bi-monthly payments? Please indicate your source of information if possible. I want to make sure I have as up-to-date and accurate information as possible. Thanks! Best answer: Answer by cactusgeneThere are NO early prepayment penalties on FHA loans. But I would recommend you get a standard 30 year FHA mortgage and then make extra monthly principal payments of about 15% of the monthly payment amount and you effectively cut the mortgage down to a 20 year loan and also preserve the possibility of not making those extra payments if you ever get into a tight spot. http://www.fhaloan.com/fha_article.cfm?id=65 http://www.ehow.com/info_7754849_fha-prepayment-penalties.html Give your answer to this question below! Examine out these big house photos: New Scoreboard Construction at Michigan Stadium (the Large Residence) – University of Michigan’s Football Stadium (August eight, viagra dosage 2011) Image by cseeman Extremely cool to see the testing for the video screen at the Massive Property. Funny – the screen looks better from 200 yards than my Television looks like at property… They have been playing with transitions (it seems) and displaying footage from a Notre Dame game! For a lot more houses click right here… 58/365/1153 (August eight, no rx 2011) – New Scoreboard Construction at Michigan Stadium (the Big Residence) – University of Michigan’s Football Stadium (August 8, sildenafil 2011) Image by cseeman Quite cool to see the testing for the video screen at the Massive Property. Funny – the screen looks better from 200 yards than my Television looks like at home… They have been playing with transitions (it appears) and displaying footage from a Notre Dame game! If you would like to see more homes click right here… Question by Ceroulious: How to get into a house with marginal credit but a good income? I am married with a combined income of $ 125, prostate 000/yr. We filed a joint bankruptcy approximately 5 years ago. My wifes credit, stuff while not extensive (3-4 Credit cards–nothing over 1,000 limit) is all good except for the Banko. I have not used credit in about 15 years with one exception and that was a small ($ 5K) loan which was paid on time. I spent many years self-employed though I am now in a permanent position and have been for the past 7 months. My wife still contracts as I did, but may be taking a permanent position in the comming month as well. I also have an existing Federal tax lien (appx 15K). It’s not at all pretty, but would like to know from any experts in the field if they have any ideas as I am really tired of throwing away 1500/mo in rent–thanks Would the Federal tax lien HAVE to be paid for anyone to finance us? Best answer: Answer by bentworth78Go into a house with owner financing, or with a non qualifying mortgage Give your answer to this question...
Read MoreHow to get a high enough home loan with little income combined?
Question by Superman: Can someone go to jail for lying on a credit application for a car loan? I know someone who purchased a new car from a dealorship but lied about the ammount of money she was making per month. She is just starting a new job and has not recieved her first check yet. The dealership told her she was approved before seeing her income verification and let her drive home with the car. He later told her that he needed a check stub “for his file” to process everything (even though he had earlier said that she had been approved the loan) and she does not have one to give him. Can she go to jail for this? Best answer: Answer by Frank CastleYes. Add your own answer in the comments! by eyewashdesign: A. Golden Question by um yeah: How to get a high enough home loan with little income combined? My sister and I are trying to get a home loan that is pretty high, buy more about being that we live here in Hawaii. We have a good credit score and a very decent down payment. I was wondering if we combined other peoples income with ours, would it be possible that there name not be on the title? Best answer: Answer by starrfyrreAnyone who’s income is used is on the mortgage and the title. If you have five incomes from five different people, five people would be on the mortgage and five people would be on the title. Know better? Leave your own answer in the...
Read MoreCan someone go to jail for lying on a credit application for a car loan?
Question by Superman: Can someone go to jail for lying on a credit application for a car loan? I know someone who purchased a new car from a dealorship but lied about the ammount of money she was making per month. She is just starting a new job and has not recieved her first check yet. The dealership told her she was approved before seeing her income verification and let her drive home with the car. He later told her that he needed a check stub “for his file” to process everything (even though he had earlier said that she had been approved the loan) and she does not have one to give him. Can she go to jail for this? Best answer: Answer by Frank CastleYes. Add your own answer in the...
Read MoreQ&A: How much mortage interest can I deduct in my income tax return for the year 2005 in Texas?
Question by : Where are some good places to apply for a home loan with bad credit? My husband and I are currently trying to fix our credit. We are also shopping for a home loan. We live in michigan and I am looking for mortgage companies willing to work with people with bad credit. Best answer: Answer by MadManLook for an FHA lender. If your credit score is less than 620, buy information pills clinic you will not get a mortgage anywhere and you need to clean up your credit first. What do you think? Answer below! Question by nahuatl71: How much mortage interest can I deduct in my income tax return for the year 2005 in Texas? I am using turbo and I enter all my income paid for the mortgage loan, medicine but when it comes back it shows less than what I entered. So I wonder if the mortage interest paid is 100% or is it an average up to some amount. At the end of the process my return is the same as what it was last year but the difference is that last year I did not own a house. So I think my refun should be more. Best answer: Answer by TYSONBULLYDeduct all of your mortgage interest. You should have gotten a tax statement from your mortgage company, use that # Add your own answer in the...
Read More100% Stated Income Loans
Year 2012 Financial Results In Florida, ed 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. 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 Stated Income Loans full force, then the full documentation guidelines need to change for self employed borrowers. They should use the gross ?ncome (or somewhere ?bove the net) ?n the tax returns for qualification ?urposes. Salaried borrowers ?re showing gross ?ncome before tax ?eductions and so should self employed borr?wers. 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 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...
Read MoreCan you buy a home with crappy credit?
by eyewashdesign: A. Golden Question by krayz: do you have income with a reverse mortgage loan? I’m having trouble finding the law that states the answers for these. I’m only looking for the law that will answer my questions. When I take my monthly draw from the bank from my reverse mortgage loan is that considered income? Also can I deduct the interest when it is added to the outstanding loan balance each month. Best answer: Answer by FreakOfNature2000Yes you get a monthly income based on your situation but its a big rip off. Don’t do it. Give your answer to this question below! Question by The Mace: I’m trying to get a hold of someone at Chase Home Finance that deals with problems.? I’m trying to solidify my loan w/Chase Home Finance but they farm out the jobs to third world countries (Philippines). I’m always put on hold or the call is disconnected. I cannot get a hold of anyone that can help in the US and it’s getting really frustrating. Can someone provide an email address, more about of Chase Home Finance folks (professionals hopefully), this web that I can talk to or someone who can actually look into or solve my pay-off problem? Best answer: Answer by DavidSo is everyone else. That is why you shouldn’t use chase. Give your answer to this question below! Verify out these chateau photos: Château de Chenonceau Image by roger4336 Château de Chenonceau was constructed in 1515-1521. It was built across the Cher River, page east of Tours. It fell into the hands of the French crown. King Henri II gave it to his mistress, viagra approved Diane de Poitiers. Immediately after Henr1’s death in 1959, his widow, Catherine de Medici, took the chateau. Each of these ladies designed a significant garden, which nonetheless has her name. Chenonceau has been owned since 1913 by the Menier family members, which is recognized for chocolates. The chateau is called Chenonceau, but the nearby village is Chenonceaux. For a lot more residences click here… Chateau de la Beuvriere Image by Kentishman Chateau de la Beuvriere, St Hilaire de Court, Cher, France If you would like to see far more properties click right here… Château fort Image by ManuB. Château d’Anjony, à proximité du village de Tournemire. Ce château a été bâti au 15e siècle et est typique des petites forteresses de montagne de cette époque. For much more houses click here… Question by **4-22-2010**: Will home interest rates go back down or are the going to continue rising? Want to refinance my home, visit this site Wondering if I should wait a little bit, more about or do it now before they really start to climb back up. Best answer: Answer by JohnThey’re going to continue to rise, so if you’re looking to refinance you should try to do it now (though if your house doesn’t appraise for what you owe on it, you *may* not be able to) Add your own answer in the comments! FHA Streamline Refinance : Basic Qualification Requirements FHA mortgage rates are making new, price all-time lows while — at the same time — FHA mortgage insurance premiums (MIP) are gearing up for an increase. … Especially those in high closing cost states such as New York, thumb Texas and Pennsylvania. Get FHA … If you would like more informaiton please visit here… by KKfromBB Question by Satan Lives! God must Die: Can you buy a home with crappy credit? I want to buy a home but my credit and wifes credit is bad my credit score is...
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