Question by Brian: Educated guesses about when the FHA 30yr fixed rate will drop and how much?
I’m a first time home buyer and I was just preapproved for an FHA loan with a 6.5% rate. Three months ago I was approved for a conventional loan at 6.25%. I’m just wondering when analysists are predicting rates to drop?
Best answer:
Answer by Natalia
not soon the rates are going to go up for the next year unless the government lowers them again
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Question by Cat: How can I refinance from FHA to a conventional loan with little or no money down?
Just over 6 months ago, viagra dosage we bought a bank owned property. We’ve put at least 15 grand into fixing it up. I was told that we can switch to conventional with an appraisal that shows our property is worth 20% more as we don’t have cash for closing. Would we not have to pay mortgage insurance if we went conventional and why? I need a little guidance with this. Thanks!
Best answer:
Answer by Me
Join a credit union and work with them.
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Mortgage-Bond Sales Soar on Fed's Refinance Push: Credit Markets
The Obama administration fueled additional opportunities for refinancing by pushing Fannie Mae and Freddie Mac at the end of 2011 to expand the Home Affordable Refinance Program, medical or HARP, for borrowers with little or no home equity. Almost 791,000 …
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Taking advantage of the lowest mortgage rates
Q I keep hearing about these really low-rate refinance opportunities, but nobody seems to say which bank or mortgage broker is offering them. I have a 15-year fixed rate loan at 4.25 percent. I financed my loan under the Home Affordable Refinance …
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Diminished expectations: Oregon politicians try to repair economy, restore …
A state agency will conduct a limited test of a program to buy back and refinance underwater mortgages. Still, the …. It's similar to the federal Home Affordable Refinance Plan, the Obama administration response to upside-down mortgages. But HARP is …
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Annaly Capital Vs. American Capital Going Into 2013
According to the latest statistics compiled by Mortgage Bankers Association and reported by Bloomberg, sale of Agency MBS reached a three-year high. This was a result of the direct actions from the Fed, which intends to make home ownership affordable.
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Question by Tia: Is it Wisconsin state law to have both spouses on the home loan application?
When applying for a home loan in Wisconsin, price is it state law that you and your spouse be on the home loan application. OR can you just apply using just you or your spouse?
Best answer:
Answer by Andrew
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Question by Tricia: DTI 35% calc before or after mortgage?
Ok, sickness so my hubby’s DTI ratio is 35%. This is without a mortgage payment (darn car payment and student loans) (we are trying to get a house). Does our new mortgage payment need to be calculated with this number? Will a lender look at that and say the ratio is too high to qualify for a mortgage?
can you please explain to me how they look at this? We’re trying to get FHA in Pennsylvania.
Best answer:
Answer by ardeare
Up until about 8 years ago, rx lenders required that your total debt to income could not exceed 36% of your gross monthly income and that includes your mortgage. Sub prime lending came along and increased the dti to 50%. FhA is making alot of drastic changes at this point in order to give people a chance to refinance or purchase new homes. Your best bet is to arrange a meeting with an FHA approved lender to get the latest news of the changes. You can find these lenders in your yellow pages. Words of wisdom: Do not go more than 40% of your gross income into debt.
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A few great chateau images I located:
Maquette du château de Vilnius au 17ème siècle
Image by dalbera
Maquette des parties hautes et basses du château de Vilnius dans la première moitié du 17ème siècle
Musée de la tour de Gediminas
Le château de Gediminas est devenu le symbole de la ville de Vilnius. Il a été construit au début du 14ème siècle, drug pour défendre la cité (voir la maquette).
Détruit lors de la guerre avec les russes en 1655, side effects il n’a pas été reconstruit. Seule persiste la base d’une grosse tour qui a été transformée en musée et en plateforme d’observation ouverte au public.
Post de Wikipedia sur Vilnius
fr.wikipedia.org/wiki/Vilnius
For a lot more residences click right here…
Question by Michael W: How can I apply for the new refinance program provided by the new stimulus package?
I owe 160K on my house and its now worth 150K. How can I apply for the new program enacted by President Obama to help lower my interest rate and payments for my mortgage, approved thank you.
Best answer:
Answer by J B
I hope you can prove a hardship.. I also, viagra hope your married with children and prepared to fill out copious amounts of paper-work.. Mortgage Help will be going to the most needy of the few… Single mothers with children, Minorities, and Elderly
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Question by Bella: Pay off credit card with fixed home equity draw?
My 48 y/o sister has asked me a question and I don’t want to give her bad advice. Here’s her question and her stated financial info:
Should they pay off balance on their 8.25% (prime for life) credit card (with a long and excellent credit history) and put that balance towards their home equity loan? Both have high FICOs.
They currently have a 1st mortgage of $ 200K fixed at 4.25% until 5/09. They also have a fixed (locked in) rate of 7.65 on their home equity line at a 10-year term with a current balance of $ 50K ($ 18K avail). Their home is worth between $ 550-580K. They only have one credit card they use, cheap but it’s $ 12K (prime for life) currently 8.25% and she makes at least double the monthly payments in an attempt to pay down. They would like to eliminate the credit card debt if possible to be able to save more and not feel so stretched each month. Plus one teen now needs a car (more outflow).
Banker will lock addt’l draw and combine both for 7.6%. Yearly income $ 90K. Advice?
Forgot to mention that mortgage is $ 1375/month, she pays $ 700 on equity loan (min $ 685), and she pays $ 700-1000/month down on the credit card. If CC was eliminated, the banker told her the new lock on the equity loan would make that monthly payment $ 763, which she could also pay more down on with no penalty. She’s really nervous about fooling with the equity in the home because of their old(er) age. Should she keep things as is and pay down aggressively or transfer to current home equity or other great idea? Thanks again.
Best answer:
Answer by Sin™
That Home Equity Line is almost maxed out. I wouldn’t recommend transferring the credit card balance to the Equity Line at this point because that only ties up monthly cash flow. Because they’d be paying back interest and principal over that 10-year term on the Equity vs. a couple % on credit card balance of minimum monthly payment it wouldn’t be worth “saving” .6% of interest on the balance. There’s also the inherent risk of running up the credit card balance again which would put them in a very tight situation.
I think in this situation what they’re currently doing is fine. Keep focusing on paying down that credit card debt though and keeping the balance from growing instead of shrinking.
Good luck.
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