 Termination of agreement before Lease is signed??? |
| Is there a stated time that the would have landlord has to give back the deposit. We have no signed lease, I have absolutely given her a signed formal letter stating that we will no longer be ... |
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 Can a landlord tow a registered car that was in a spot that he approved? |
| He also didn't let my brother know that he towed his car, so now the towing price is more expensive b/c it's been sitting at the garage for a while.... |
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 Can anyone help me, please? |
| Does anyone know of a good website where you can look for local apartments? Thanks !!... |
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 Behind on Rent Landlord changed the Locks to the Storage area? |
| We were 10 days behind on our rent and our Landlord changed the locks on the Storage unit int he basement and left us a note saying that if we dont pay he will evict us and keep our stuff as ... |
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 Should I lock in 30 yr mortgage interest rate now/ wait. They have risen to the highest this wk.Closing 03/30 |
Should I lock in mortgage interest rate now or wait. My husband and I have decided on a house to buy and looking to get our
mortgage loan approved. The house is a new construction that will be ... |
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 Incentive for renters while house is on the market? |
| I am preparing my duplex for sale. Currently I live in one of the units. The other unit is rented and eventually, if it does not sell within a year, I will have to rent my unit out as well. My ... |
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 My best housing option? (UK only please)? |
| I have to be out my house in a month as my dad has come into some financial difficulty and has to move to smaller house which has no space for me, Im fully employed but dont have the money for a ... |
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 Could they afford an appartment? |
So a couple makes 23.25 per hour together. Is that enought for them to aford an apartment? can any one give me some links for apartments..
Thanks so much!
Additional Details
T... |
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 Where in the house does people hide their money? |
| Does people save cash in their house? If so where at? and How much ?... |
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 My boyfriend can't find a cosigner...Are there alternative ways to getting one? |
| He's 18, only had a credit for about two months, and doesn't have a good relationship with his parents. He's fully able to pay rent ($600 a month and under), since he works 40 hrs a ... |
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 What are the steps for moving out of a house that you own? (with the whole family)? |
| I constantly think about moving out of state, but we own a home. If I get a job in another city, what are the logistics for moving out of the house and not getting into a financial nightmare? I ... |
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 Foreclosures? |
SOMEONE PLEASE HELP!
Me and my family want to buy a foreclosure house in North Fontana,CA but we cant find any that we can buy that are real estate owned or how ever you buy foreclosures. We ... |
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 What's a warranty deed? Why would a buyer ask for a survey, if seller has a w. deed from orig. plot lines? |
Yes I looked it up on line, but I don't understand what I read. Can someone put this in plain english for me?
I'm curious, because a buyer wants my 64 acres surveyed prior to ... |
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 Wrongful eviction? |
| Please help. I been in this trailer park for over a year. The other day I got home with a note on my door saying, undiserable tenant. (eviciton notice) The next day I talked to the manager to ask ... |
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 Mortgage/loan confusion....? |
| Here's my situation... I am self-employed and have been for almost 3 years. I have the past 2 years tax returns... which don't total much in profit at all. I am looking to shift my business ... |
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 What kind of offer should I make on a house? |
| I found a house that I would like to purchase. The asking price is 157,500 (about average for the area). I was wondering if anyone could give me some input on how low of an offer I could make. I ... |
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 Help! Im scared and really worried!? |
I was browsing on craigslist and found an ad with his phone number and email advertisng my place for rent as of Nov.Ist. My contract does not end until March.
My boyfriend sometimes parks ... |
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 How easy is it to get a mortgage with adverse credit? |
| My landlord has just told me that he is selling the house we rent. He has said that we can buy it for £130k, but I don't work as I have 2 young kids (can't afford childcare etc) and my ... |
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Jeff P | How to get approved for a mortgage with only 5-10% down? |
and without PMI - debt to income ratio 50% |
 |
 
HomesByDamon.com
 |
Let's tackle your question in two parts:
1. Getting approved for a mortgage with 5-10% down with a 50% DTI should not be a problem IF your credit is good AND you have steady income and work history. Fannie Mae underwriting guidelines will actually allow up to 60% DTI's for the right borrowers (not that I'd ever recommend going that high).
2. Regarding not paying PMI, you have a couple of options:
a. get a piggyback loan, whereby the second loan takes the place of the PMI.
b. see if the lender has any "lender paid PMI" loans. FYI - Rate will be higher.
It's usually better to go with option "A" because the combo of the 1st and 2nd loan should be lower than going with option "B."
That said, do not immediately discredit PMI as an option. Legislation was just past which makes PMI tax deductible (consult your accountant), and as well, once you have 20% equity you can cancel the PMI. |
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Barbara
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You have listed an impossible situation. Every lender has its rules and are strict about them. No lender will give more than 80% of the appraised value without the insurance to back up the loan in case of default on your part (PMI). Your debt ratio is too high.
You would be considered high risk on your debt ratio alone, try to get those bills cut down.
If you don't believe me, call the local banks and credit unions. |
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Jeff
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Piggyback is the way with the Heloc to cover the remaining balance. 516 535 5800 ext 239 Mortgage consultant. |
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mortgage help
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Take an alternate/portfolio product that will allow up to 50% dti. Obviously, the terms will be less desirable. You'll probably get the option of Lender paid MI, with a higher rate... or, break it up into a first and 2nd. |
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pokerplayer528
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That is a bit of a tall order but the following site has a few lending programs that may fit your needs. The quote request is free so you can see where you stand with a few minutes of your time. Good Luck. |
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vegasb2k
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Just apply. Your loan officer will tell you what programs you qualify for.
If you don't apply, you can't get approved. |
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c21bucks
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putting 5-10% down I believe you might be able to get a piggy back loan to prevent the PMI, but your debt to income ratio is the tough part. If they can do it, your interest rate will most likely be high. Your best bet is to talk to a mortgage loan officer. If you are working with a real estate agent, ask them for 2 or three loan officers they would recommend, if not, you can check with your bank or reputable lending institutions like GMAC or Countrywide. |
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Flyby
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Most lenders like to see no more than 25-33 1/3% of your total monthly income allowed for a mortgage payment. |
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lisa_eli_92252
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i dont know but am trying to earn points |
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