 Is a 5yr interest only home loan a bad idea for a 1st time buyer? |
| I'm in the home market and do not have 20k to place down on a home, nor do I make 150k a year. Would a interest only loan for 5yrs be a bad idea? At that point I could re fi after 5 yrs for a 30 ... |
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| Advice on taking on a 100 year old house? |
| My husband and I may have a chance to take on my former marital home from my ex-husband since he stopped paying the mortgage and my name is legally still on it. It is not in a great area, and he has ... |
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 How do I sell my house in a market flooded with similar houses? |
| I live in an area where are houses are not selling right now. I really need to sell my house by June. Any ideas that would help me sell in a market already flooded with similar homes? My asking ... |
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 Can I file bankruptcy to save my landlords house? |
| My landlord is being forclosed on. I dont have any where to go. Is it true that if I file BK, my landlords house will be saved, so that I will not get kicked out?... |
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| Can you buy a piece of land, plonk a caravan on it and live your dream of living self sufficiently? |
| My husband and i live in a council house, in a beautifull part of the world. Unfortunatley we are not that well off and could not possibley afford to buy a house in our beautifull village in cornwall.... |
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 How do you legally rent out your home? |
| My husband and I are just thinking about our options and don't know where to start. Thanks!... |
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 I rent a room in a house. Is the Landlord allowed to just come in to my room when he feels like and move stuff |
| The landlord lives in the same house and keeps coming in to tidy up despite being told repeatedly not to. So far he's damaged a Drivers suit from Richard Burns when he drove for Subaru, broken a ... |
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 I would like to buy a house but I have no credit is their an agency that would help me? |
| my fiancee has slightly bad credit and the only agency we talked to said we should go through a local bank but I don't think this is an option.... |
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 Remortgage or sell & move on? |
| My partner & I have recently seperated. The house is in my name but we have a joint secured loan & a personal loan. He is refusing to move out until I either sell or remortgage to clear the ... |
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 What is this kid doing to close so many real estate deals? We have over 3000 realtors in my county board? |
| Theres a 22 year old Mexican Kid who has been in the business 4 years, ever since he was 18. He is the top producer closing 70 deals per year the last 3 years and he does little advertising. The ... |
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 Can anybody help me... I moved into a student house two months ago and signed a contract until the end of? |
| July. problem is i have come into money problems and can no longer pay my rent. i told my landlord this and she basically said... u need to find someone to take over your lease... if you dont then u ... |
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 Should I pay it off? |
| I have a mortgage left of 60k which I pay 6.125% . should I pay it off if I could. If I do ,I won't have much to fall back on if I need an emergency fund.My wife is barely working so I am very ... |
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 Submitted a 60 day notice and 8 days later told them that I did not want to move out.? |
| I gave them the 60 day notice on the 10th and called them back on the 19th and told them that I didn't want to move b/c I accepted a permanent position at my current job. They said that they ... |
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 Do you think it's a bit unfair that real estate agencies, buy bargain properties? |
... before others have had a chance to even see them. Wouldn't it be better if they went to needy families, or something? Especially when there is so much high cost housing and rent now.
... |
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 Need help with letter to landlord to get waive monthly lease due to business is extreamly slow.? |
Additional Details
I have a general retail store. We sell almost everything except for food. I don't know why our sale redeced almost 50 % for two months. It is getting worse and ... |
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| Would you live in a caravan to save money? |
| me and my boyfriend are living in a house at the moment that is costing us about £1000 a month to live n including bills, we are trying to save money so we can get our own place. But becuase we have ... |
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nilo10107 | I was recently denied mortgage by a company my buyers agent recommended? |
my closing is supposed to be in 2 weeks. according to the loan officer it was denied because i paid my rent late 5 times in 4 yrs. my credit score is not that great but i make over 90,000. I really want this house. should i try to get a loan from another company even if the rate is higher and then refinance later.
Additional Details
Please i need only real answers. if you dont have anything substantial to suggest dont bother answering. |
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pearlmel
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depending on your debt to income there are still programs you would qualify for.
sounds like we could have a place for your loan. contact anouther lender that wont gouge you try this place they did my loan and did a great job! |
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spadezgurl22
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go shop around with other mortgage lender go to FHA lenders or reputable banks, hopefully u will get approved, the mortgage company isnt that good if there denying u for late rental payments. |
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bostonianinmo
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Try another lender. It's about all that you can do if you want to salvage the deal. |
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Alterfemego
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That may be your only choice. But let me say that anyone here advertising or soliciting your business is breaking the Yahoo guidelines, and I would caution you that if that is how they do business, what other guidelines will the break to make a buck?! |
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valstpatrick
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More information is needed, but IN GENERAL lenders review your past 2 years of income, credit and rental history. If your late payments were in the last 2 years, you may not eligible for the program the lender selected.
There are some programs that do not require a VOR (verification of rental history) of course your rate will be slightly higher because NOT verifying your payment history is an additional risk to the lender.
Depending on what LTV you are looking to obtain and your other credit obligations (debt to income ratio) will dictate programs you may qualify for.
You can e-mail me with the additional details and hopefully find a solution for you. I can not lend in WV, AK, HI, MD, or ME - all others states I can assist you. Even if I do not assist you in the loan, I am still available to provide you answers and direction. =)
The bottom line, even though you have 2 weeks before the closing,you stand a good chance of making that deadline IF most of the the other third party tasks have been completed or at least ordered. You will need to respond quickly to the lender though to help the process to move quickly.
866-294-0011 is my toll free number. I will do what I can to help you and give you direct answers.
Good Luck, hope this helps |
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gab BB
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If you have bad credit and I am betting no down payment then you can forget it in todays markets. IF you find a loan it will be in the double digit interest range.
Work on your credit. Don't do something else to prove your financial irresponsibility by paying more interest just so you can "get it" now! |
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Seament
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Only you can answer that question |
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Deliah
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If you have bad credit and I am betting no down payment then you can forget it in todays markets. IF you find a loan it will be in the double digit interest range.
Work on your credit. Don't do something else to prove your financial irresponsibility by paying more interest just so you can "get it" now!
ADDED have you even picked up a newspaper or read a news article online lately? Even people with a faily decent score are going to be jumping through extra loops and it gets worse everyday right now. Will it turn around, of course but not next week.
ADDED you want to really screw yourself over then just ry responding to one of the jackasses who spam this site with promises of loans to your next door negihbors dog if he barks 7 times in a row on days with no a in their spelling! |
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loancareer
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Can you prove enough income to support the loan? If you can you should have little difficulty qualifying for an FHA loan. Be sure you find a lender that actually underwrites and funds the loan with their own warehouse line. Ask your Loan Officer if they are a direct lender and ask if they have "Eagle Approved" Underwriters on the premises. If they do they can underwrite and approve your loan much faster. A typical Broker can take upwards of 2-months to close an FHA. A direct "FHA Approved" lender can do it in 10-days.
Good luck! |
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iceman
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There are several components that go into the approval process for a mortgage. They are.. Income to debt ratio, downpayment, other debts, and credit score.
We dont know what your down payment is, or your debt to income ratio. It may be that the credit score is not what is stopping you here.
But in general, your income sounds kinda good, and you dont sound you like you have TO bad of a credit score, so I would simply try other lender. Someout out there is going to approve you as long as your credit score is about 600 and you have at least 10% down on the home. |
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