Mortgage Rates: Mortgage Rates Remain at Historic Lows; Mixed Results for …
Mortgage rates continue to remain at historic lows today, approved sickness although updates show that there were mixed results for FHA mortgage rates. According to FreeRateUpdate.com's most recent survey of wholesale and direct lenders, symptoms FHA 30 year fixed mortgage rates …
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Mortgage Rates: Low Mortgage Rates at Risk of Rising After Release of FOMC …
Current FHA 30 year fixed mortgage interest rates are as low as 3.250%, FHA 15 year fixed mortgage rates are as low as 2.375% and FHA 5/1 ARM loan rates are as low as 2.500%. FHA loans offer a low down payment requirement so that consumers who …
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Question by Mr. T: when u short sale your home, what is ed what happens to the remaining balance owed?
Say I owe $ 200, shop 000 left on my mortgage balance, and I then short sell it for $ 130,000. What happens do the remaining $ 70,000? Does the bank just eat it or is there a tax liability? If that would be a tax liability, then what is the point of even having that loan modification program that was put out there by Obama?
Best answer:
Answer by Chip
most likely they won’t give it for free. depending on how big of an impact a 70K write-off would reflect on the financials – they may forgive you for that but rarely is the case.
What do you think? Answer below!
Question by cookiesforkim: Is the FHA interest rate the same with any lender?
I am a first time homebuyer interested in an FHA loan. Is the interest rate on FHA loans the same with every lender? I am curious because the rates aren’t posted online as conventional rates are (at least on the last site I was on.)
Thanks!
Best answer:
Answer by ?AstrologerJuliAnne?
No.
Rates are different for everyone and are based on your income, viagra debt, down payment etc.
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Sivas Congress
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Sivas Congress
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The Wanted's Siva Kaneswaran says they were broke before finding success
While the 'Glad You Came' hitmakers have had a hugely successful year, capsule breaking the lucrative US market and supporting Justin Bieber on tour, sickness Siva Kaneswaran admitted when they started out, the group struggled to make ends meet. He told the Sunday …
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Vaught's Views: Louisville's Siva, Smith can make things tough on Kentucky's …
In 147 minutes of play this season, Kentucky point guard Ryan Harrow has just five turnovers — or one about every 30 minutes of play. Louisville guards Peyton Siva and Russ Smith have combined for 62 steals in 680 minutes of play — or one about every …
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Siva Karthikeyan reveals a secret
From a successful VJ, Siva Karthikeyan is a fast rising actor in K-Town now. But to reach this place, he had to come across many obstacles. "Thanks to some of my bad experiences, I have learnt to be in the company of good people alone," says Siva …
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Question by Elizabeth: Firsttime homebuyer: how much do u have to save/put down to buy a 0000 house?
Any suggestions, viagra tips or information? I’m planning to move from New York City to an affordable area in Florida. Any idea how long it would take to be completely ready for this change?
Best answer:
Answer by Yorky
20%, cialis 40mg $ 60,000, Islamorada, FL you can almost live free here on coconuts and fish. The natives are friendly unless you mess around with their fish or crab traps.
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FHA wants 3.5%
Some lenders will take 10%.
Other lenders want 20%.
If you have 20% to put down, you should be in great shape.
figure 20%, or about 60k, to cover the mortgage and all closing costs. Pay off as much debt as you can before applying for a loan. Talk to potential lenders to perhaps get pre-approved (NOT pre-qualified) for a loan before making any purchase offers. Good luck.
Buying a house is a step by step process, this is the first step. Once this step is taken the others will fall in place for you.
In order to find out the type of loan programs you are qualified for you will have to fill out a loan application, with a mortgage broker, which you can find one in your local telephone book.
Make sure this mortgage broker or mortgage banker is able to do government loans such as FHA and VA loans if you qualify for one.
He will fill out this application, which takes awhile so grab your favorite beverage and sit down. Once you have completed the application, he will run your credit report which will have your credit scores. These credit scores will determine your interest rate.
The amount of your monthly debt payments you are required to pay as per your credit report and the amount of mortgage you can take on based on your income will determine the amount of house you will be able to purchase.
When you speak with the mortgage broker you will need the following documents to complete the loan application, there will be others, but this will get you started.
#1 One month of pay stubs for each person that will be on the mortgage.
#2 Six months bank statements from each bank in which you bank as well as statements from any 401K from you place of employment.
#3 Two years of federal income tax along with the W-2 that match.
Once he has all that he need to do he can then issue you a pre-approval letter so you can purchase a home. In this pre-approval letter will be the amount of house you are qualified to purchased.
Once he gives you this pre-approval you may now find a real estate agent to find yourself a home or he might have a referral.
Now make sure before you get your pre-approval you and your mortgage broker go over all your options as to the mortgage programs you qualify for, the interest rate, monthly payments.
If you are getting a FHA, fixed rate, two loans to eliminate PMI like an 80/20 or one loan, if you are qualified for and approved for a 100% loan.
You should select the loan that best suit your financial condition at the time. That could be an adjustable rate loan. It could be a fixed rate loan for 5 or 10 years and then adjust. Some adjustable rate mortgages only adjust once.
Make sure your mortgage broker explain all your options so you may make an intelligent decision.
What might be good for one person might not be good for you, in other words just because your friends and all your real estate buddies are telling you about the great fixed rate they got, your financial situation might call for something else.
So select the best option for you and your financial situation.
You should also get a Good Faith Estimate (GFE) which will indicate the cost you will have to pay for getting this loan. It will also indicate the amount of your down payment.
Once you have found a home the real estate agent will then prepare a contract for you and the seller to sign.
Your mortgage broker will now order an appraisal to show proof of the property value.
The mortgage broker might ask for additional information or documentation, don’t get all up tight this is normal, just supply the information or find the documents needed.
After the appraisal has been completed you will be called by your mortgage broker to sign your loan docs so you can take possession of your new home.
Before signing any loan docs make sure they say exactly what you and your mortgage broker went over when you decided on what mortgage program was best for you.
I hope this has been of some benefit to you, good luck
“FIGHT ON”
It all depends what type of loan you have and if you have good credit. Some loans dont require any money down. The more you can save up, the better. Your payments will be cheaper if you have a down payment. Is your income $ 100,000 a year? If not you probably wont qualify for a $ 300,000 home. You need to consider many other things when moving to a new state.
FHA needs 3.5% plus closing costs are about another 3%.