 Despite high APRs, why do people still take payday loans? |
| I came across this website http://www.wongatree.co. . It seems almost all lenders charge APRs, 500%+. Why are payday loans still popular?... |
|
 Why would anyone pay an APR on a credit card when you can get one with 0% introductory rate for 1 year? |
| A lot credit cards today give you 12-18 months with 0% APR.....After the intro period is up just cancel the card and go on to another one that is offering the same type of promotion. I just don'... |
|
 Help paying off credit cards in order.? |
im getting $3000 for income tax returns and need help paying off these...
BB 809.16 19.8% APR
Dell 1,543.57 28.49% APR
sears 1,021.11 27.24% APR
N... |
|
 Ebay credit card...? |
hi, i'm wanting to bid on a product, and it wants me to 'place' my credit card details on ebay, its secure and everything, but it says -
card number (visa and mastercard) and my ... |
|
 What are the best practices to develop a good credit with a credit card? |
Please read first:
I'm well aware that it is ill advised to carry any balance over that would accumulate interest on a credit card.
I'm also aware my balance should always ... |
|
 Good credit or Bad Credit? |
Help, Solve a fight between my husband and I......
Can having to many open credit cards with zero balance hurt your credit rating? Does it matter when you are trying to get a loan, let... |
|
 Will it mess his credit up? |
| My boyfriend has a card with a credit line of $400. He went over his credit like by about $100. His minimum payment is $120. He doesn't want to pay the minimum. He says as long as they get some ... |
|
 Posting credit and auto loan? |
| Below, is an example on how my auto company posts my credit report. I don't know much about credit but, as it is posted seems incorrect. Does this seem viable for a valid dispute. It seems to ... |
|
 Need a loan without a credit check? |
| need money but cant seem to find a lender for me? anyone know someone or place to get loan with bad credit?? ... |
|
 I need $$ BAD Can I pull out of Credit Card? |
| I have a capital one card with a limit of $500, I've spent $150 already on it, can I pull out the remaining amount in cash from an ATM and use it? I'm desperate to help out a friend in ... |
|
 Excluding a mortgage, who has the most debt? I dont have any, my mother wont allow me to have credit cards.? |
I am a 40 year old virgin you know.
answers preferably in english pounds sterling.
Additional Details
just a skeleton? well it would explain a few things, she hasn't moved much ... |
|
 How long does it take after bankruptcy to be able to get credit again? |
| i filed chapt 13 but had it dismissed and have been making payments to creditors...have credit report and score is approx 601...nothing in judgement area states anything bad other than that i had ... |
|
 Which one reflects better on your credit score? |
| If you have six open revolving accounts in which two of them are paid off and four of them have balances but have never had a late payment - is it better for your credit score to close the two paid ... |
|
| Can the bank do that ? |
| I used a u-haul truck with my bank debit card. i was charged for 100 miles in error, which caused my bank to charge me an overdrawn charge.The bank said they were not in error, but now that they ... |
|
 I have several credit cards which I don't use. Would it improve my credit score to close these? |
| These are revolving accounts such as department stores, etc. I am not carrying balances on any of these accounts and they have been opened for several years.... |
|
|  |
natesession | What are the requirements to get an FHA Loan? |
Does anyone know what the interest rate, minimum credit score, and debt to income ratio would be? |
 |
 
Michael M
|
There are a few key requirements to qualify for a FHA loan. Interest rates can, in some cases, be lower than conventional loans. 6.5% right now is the going rate for a fixed for 30 year, no prepayment penalty loan. You must be able to document your income and having some reserves in savings is a huge help. Most lenders do not like to see Debt to income ratios higher than 38/42%. There is no minimal score requirements. Even someone with no score at all can qualify for a true FHA loan. You can acomplish that by showing utility bills or cell phone bills. One of the biggest hurdles remaining for FHA are the loan limits that are county specific. There is a bill currently in congress to raise these limits since the current ones were set decades ago. All that bieng said, FHA loans were designed to only be underwritten manually because it is supposed to have "comon sense underwritting" and not based on DU or LP findings. Unfortunatelly, most lenders will still run the file through DU and LP and if the is a refer/inelligible it will go through another layer of risk assesment. |
|
Cali-Gal
|
To add more to Mary B's answer, FHA will soon be raising their loan limits and soon in the future (I heard September) they will also be offering 40 year fixed loans.
On the tax deductions allowed for PMI (MIP for FHA), that will be for any loans closed as of January 1, 2007 and that tax deduction will on a year to year basis (all of it is deductable for annual incomes up to 100K and then the percent goes lower for over 100k in annual income). It's not from January 1, 2007 on out. But still, that's good and more than likely the Federal Government will let that continue on into 2008 hopefully.
FHA loans are good loans. I have one on my 10 acre property with a manufactured home. Many lenders who mainly do Conforming and Non-Conforming will not lend on manufactured homes and if they do, on refi's, they will only go to 65 percent loan to value on a 20 year term. FHA will go up to 95 percent loan to value on refis on a 30 year term or a 15 year term. Since my refi closed this year, I am stronger financially and now have more income to work with on improvements to my property. Which in the long run will bring up the value. Currently, I am building a 24 x 24 garage which will be completed by the end of next week. |
|
Expert Realtor
 |
FHA works no differently than any other loan program. It just takes someone that has taken the time to become familiar with the differences to guide you through it.
The interest rate for FHA and VA is always the same, and this will vary by lending institution slightly. There is no minimum credit score for an FHA loan...but there is minimum credit criteria.
The debt-to-income ratio for an FHA loan can go up to 45%, back, with mitigating circumstances.
The best thing you can do, is call a loan officer and make sure they are familiar with the transaction. It doesn't cost you a thing to have the process explained to you.
FHA no longer requires a home inspection or a pest inspection, but for your OWN protection...you should get both.
FHA is coming back in full force, now that many banks are now requiring 10% down and no longer will do 100% financing as well as the change in the tax laws to make PMI tax deductable. |
|
Bill P
 |
You can get better loans beside FHA and without all the rules and guidelines. |
|
beachlover
 |
here is the link that will tell you everything |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
8 | 13 minutes(s) ago
| | | |
8 | 49 minutes(s) ago
| | | |
9 | 3 hour(s) ago
| | | |
9 | 4 hour(s) ago
| | | |
9 | 6 hour(s) ago
| | | |
9 | 7 hour(s) ago
| | | |
8 | 1 day(s) ago
| | | |
9 | 3 day(s) ago
| | | |
9 | 6 day(s) ago
| | | |
9 | 1 week(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
