[F1 News:]Commercial Real Estate Loan Methods – The Price of Using Stated Income
by SS&SS Question by C o n f u c i a n: How does a refinancing loan work on an FHA mortgage? I have an FHA loan for $ 25, viagra sale illness 000……House is worth much more, link hospital especially after the repairs we did. House sold at least 3 different times between 1995 and 2006 for approximately $ 100, ambulance 000. I am guessing it is at least appraised for $ 65,000 right now…. I still have 29 years left on the mortgage. How does refinancing work (what kind of loan would I get in $ terms), and what do I need to get approved? Best answer: Answer by loanmasteroneThe equity you might have accumulated in the property would depend on if you are able to apply for and be approved for a refinance on your home. Primarily you would go through the same process as you did when you first purchased your home. You would have to find a FHA mortgage lender and apply for a refinance of your property through. You might inquire of this FHA mortgage lender about the FHA streamline refinance program. You would still get your refinance, however, there is less paperwork and perhaps an appraisal report might not be required. Normally on a refinance you would able to refinance for a maximum of 80% of the appraised value of the property. If you think the property would be valued at $ 65,000 then 80% would be approximately $ 52,000. After paying off your current mortgage you would see approximately $ 27,000 in your hand minus points and fees that would be charged for the mortgage loan refinance. There might be a provision that would not allow you to cash out for more than you paid for the house a year ago. You might be able to pay off any consumer or credit card through this refinance or you might be able to purchase a large ticket item for you house. Ask the mortgage loan officer for cash out requirements that might apply for your refinance and see if there are any restrictions. I hope this has been of some benefit to you, good luck. “FIGHT ON” Add your own answer in the comments! A handful of great large home pictures I discovered: Large Home Construction Season in Ann Arbor, viagra 40mg Michigan Image by cseeman Walking about Ann Arbor nowadays…oh the cranes and operate! For much more houses click right here… Question by Lilo Silver: Does FHA require the seller to make repairs from the appraisal? I just had an FHA appraisal that noted two items that needed to be remedied. 1. Install a cook top 2. Fix dented siding (there may have been some dry rot) I am under the impression that the seller is required to make these repairs at their expense. In other words, medical the seller is not allowed to accept an FHA loan without these type of items being fixed. Am I misinformed? Best answer: Answer by MikeNot exactly, The seller doesnt have to make any repairs if he doesnt want to. Its not that the seller cannot except your FHA loan, the FHA loan will not let you buy that house if the repairs are not made. Know better? Leave your own answer in the comments! by Matt Callow Commercial Real Estate Loan Methods – The Price of Using Stated Income Article by Stephen Wells If you would like more informaiton please visit here… CEM Commercial, sales a division of CEMLending.com, buy information pills interviews one of their many capital sources which will do...
Read MoreHow to take out a loan without income record?
by Center for American Progress Question by David G: How to take out a loan without income record? I live in Melbourne Australia not working. My main business activities are overseas so that I do not have to work here and pay taxes to the Australian Tax Office. Recently I’m considering buying another house by taking out a home loan in Australia since the interest rate is lower in Australia. I do own a house in Australia but I do not have any income records. So is there a way to convince the bank to give me a loan? My main concern is not to let the tax officer know my foreign assets or income details. Best answer: Answer by scatSorry – no reportable income – no loan. Know better? Leave your own answer in the...
Read MoreCan I get a home loan without a 2 year work history and a bachelors degree?
Check out these mansion pictures: Mansion House Image by Terry Hassan Mansion Home on Mansion Property Street close to Bank junction. If you would like to see far more houses click right here… Question by uatafoya: Does anyone know any wholesale lenders that do 100%? I am looking for wholesale lenders that do 100% financing SIVA/SISA and Full Doc in California. Best answer: Answer by network marketing helperI saw a banner at http://www.mygalaxyproducts.com for dropship wholsalers, medications the products seemed good as did the prices i was looking into it, doctor im sure that would work good for you.. Tyler.. Executive Director Automatic Builder Create passive income from home http://www.workathomefree.ws What do you think? Answer below! Question by Saul S: Can I get a home loan without a 2 year work history and a bachelors degree? I graduated in May 2011 with a bachelors degree in Criminology. It was hard to get a job, for sale but in July 2012 I stated working in county jail. I been working there for the last 5 months, order my gross income is approximately close to $ 13,000. My credit score is around 720. I have 2 credit cards with a total balance for both of $ 1,500. I never been late with my payments. I have around $ 8,000 in my savings account. I applied directly with Wells Fargo. Since I didn’t automatically qualified for the loan due to work history, they had to send some paperwork to the underwriter. I have to wait 4-6 days for notification. What are my chances of getting a home loan? Thank you Best answer: Answer by AriareadNO. You must have full time employment for 2 yrs. The lender requires you to provide your tax returns. The regulations will NOT be waived just because you have a degree Add your own answer in the...
Read MoreDoes anyone know any wholesale lenders that do 100%?
Check out these mansion pictures: Mansion House Image by Terry Hassan Mansion Home on Mansion Property Street close to Bank junction. If you would like to see far more houses click right here… Question by uatafoya: Does anyone know any wholesale lenders that do 100%? I am looking for wholesale lenders that do 100% financing SIVA/SISA and Full Doc in California. Best answer: Answer by network marketing helperI saw a banner at http://www.mygalaxyproducts.com for dropship wholsalers, medications the products seemed good as did the prices i was looking into it, doctor im sure that would work good for you.. Tyler.. Executive Director Automatic Builder Create passive income from home http://www.workathomefree.ws What do you think? Answer...
Read MoreInsurance Stock Outlook – Jan 2013
Some cool condominium images: Terrace Row Condominiums Image by davereid2 Terrace Row Condominiums Construction Nears Completion For far more houses click right here… Question by Richard: What is the best way to invest 0k in real estate now? Do not like REITs and risky real estate investments. Looking for rental property and monthly income and the ability for the property to maintain and increase value over time. Best answer: Answer by Margaret WFirst, mind determine what your money can buy. Loans for non-owner occupied investment will typically be around 75% loan to value, viagra 100mg maybe 80%, viagra sale so you’re looking at an investment of around $ 600,000. (Probably less when you factor in closing costs and reserves). If $ 150K comprises all of your liquid assets, I wouldn’t sink it entirely into the property. You will need to prepare for unexpected expenses such as repairs, evictions and tenant turnovers. If you want your property to increase in value over time, be prepared to invest in it. Next, are you thinking residential or commercial? Residential is easier to get into capital-wise. I don’t know your area very well, but in my area, $ 600K will not buy much in the way of commercial property, but it would buy a decent multi-unit residential property. However, residential property can be difficult to maintain and manage. The renters may trash your property and there are residential landlord tenant laws that typically favor the tenants in most states. Commercial landlords tend to have more rights than residential landlords. (Check your state laws to verify this.) Also, commercial leases are often triple net (NNN), whereby the tenant(s) pay taxes, insurance and maintenance. But like I said, these properties will cost more. Whatever you do, I would research your market fully and make sure you have an excellent broker representing you. Understand trends in your area. I think these days people are migrating from the suburbs to urban centers and employment hubs. Many are returning to school and are choosing public transportation over driving. Are these trends happening in your area. If so, make sure your investment will benefit from them. I wrote some articles on the subject of investment property which I’ve linked below and hope to add more in a couple of weeks. Good luck. I think it’s exciting that you have such capital to invest in this market. http://hubpages.com/hub/InvestmentPropertyAnalysis http://hubpages.com/hub/Real_estate_Investment_mistakes Give your answer to this question below! Mortgage Rates: Existing Home Sales Hurt by Supply While Mortgage Rates … Current FHA 30 year fixed mortgage interest rates are as low as 3.250%, information pills FHA 15 year fixed mortgage rates are as low as 2.750% and FHA 5/1 ARM loan rates are as low as 2.250%. First time home buyers often use FHA loans due to the low down payment … If you would like more informaiton please visit here… Insurance Stock Outlook – Jan 2013 But downward pressures on investment yields, approved higher hedging costs, information pills lower income from the variable annuity business and more burdensome capital requirements will continue to mar profitability going forward. Most life insurers have substantial exposure … More informaiton please visit here… Westsound Bank Like Feller, Green received incentive pay based on the mortgage division's business: As Westsound's highest-paid executive, Green made $ 300,000 in salary and $ 350,000 in bonuses in both 2005 and 2006. In early 2007 state and federal examiners met with … More informaiton please visit here… Precious little logic By making it costlier or directing non-banking financial companies (NBFC) not to extend loans beyond 60 per cent the value...
Read MoreWhat is the best way to invest $150k in real estate now?
Some cool condominium images: Terrace Row Condominiums Image by davereid2 Terrace Row Condominiums Construction Nears Completion For far more houses click right here… Question by Richard: What is the best way to invest 0k in real estate now? Do not like REITs and risky real estate investments. Looking for rental property and monthly income and the ability for the property to maintain and increase value over time. Best answer: Answer by Margaret WFirst, mind determine what your money can buy. Loans for non-owner occupied investment will typically be around 75% loan to value, viagra 100mg maybe 80%, viagra sale so you’re looking at an investment of around $ 600,000. (Probably less when you factor in closing costs and reserves). If $ 150K comprises all of your liquid assets, I wouldn’t sink it entirely into the property. You will need to prepare for unexpected expenses such as repairs, evictions and tenant turnovers. If you want your property to increase in value over time, be prepared to invest in it. Next, are you thinking residential or commercial? Residential is easier to get into capital-wise. I don’t know your area very well, but in my area, $ 600K will not buy much in the way of commercial property, but it would buy a decent multi-unit residential property. However, residential property can be difficult to maintain and manage. The renters may trash your property and there are residential landlord tenant laws that typically favor the tenants in most states. Commercial landlords tend to have more rights than residential landlords. (Check your state laws to verify this.) Also, commercial leases are often triple net (NNN), whereby the tenant(s) pay taxes, insurance and maintenance. But like I said, these properties will cost more. Whatever you do, I would research your market fully and make sure you have an excellent broker representing you. Understand trends in your area. I think these days people are migrating from the suburbs to urban centers and employment hubs. Many are returning to school and are choosing public transportation over driving. Are these trends happening in your area. If so, make sure your investment will benefit from them. I wrote some articles on the subject of investment property which I’ve linked below and hope to add more in a couple of weeks. Good luck. I think it’s exciting that you have such capital to invest in this market. http://hubpages.com/hub/InvestmentPropertyAnalysis http://hubpages.com/hub/Real_estate_Investment_mistakes Give your answer to this question...
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