 Is it always such a freakin' pain in the *** to buy a house? |
| I'm in the process of buying my first house, and I swear, every time I think it's done, they want something else! I was approved for the loan, then the underwriters wanted even more info (... |
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 Whats the hardest part of getting a Mortgage? |
| When shopping for a mortgage, what was the hardest part / worst part of YOUR loan process?... |
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 Anyone Know About A Website To Find Apartments? |
| Does anyone know of apartments around the MD area for low cost? Or a good website that is free and nice or does anyone know of any roommates.... |
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 How can you buy home owner's insurance without a house? |
| We are trying to buy our first home, and now before we even know if we will get financed, they want us to BUY home owner's insurance? How? Why? Wouldn't that be done once we buy the house? ... |
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 What do you think of this house? |
Im looking to buy and this one looks nice what do you think
http://212.50.188.105/cg... |
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 What does "normal wear and tear" actually mean? |
| I left my appartment in near perfect condition and better than how it was when I moved in, yet I am being charged cleaning fees after I moved out because I didn't hire a proffessional cleaner. A... |
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 Appartments..? |
Does anyone know a good site for finding appartments?
I don't want to find a huge appartment complex building.. just something like what would be in a newspaper.
smaller, privately ... |
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 When is the best time to sell a home ? |
| I have a renter that is moving out in Dec.I could talk them into staying till April if I lower the rent a little bit. My house is in Atlanta. I have 40-50,000 in equity in the house and the house has ... |
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 Should i countine to pay my mom rent? |
| My mom as just inform me that i have thirty days to get out of her house, and i was wondering since she gave me a thirty day notice do i still have to give her half my paycheck like i have been ... |
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 My lease ens in April, so I asked my landlord today if I had to renew it.She said : No, its month to month.? |
| She said the rent is going to stay the same. But I am a little confused. I never received a lease renewal letter.Shouldnt I get at least some kind of papers with the new terms of this new agreement? C... |
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| How do I get someone off of a deed to the house? I pay the mortgage but the deed has both our names. ? |
Dumb move I know
Additional Details
I'm the only one on the mortgage. My income is the strongest so I'm the only one responsible for that. The only thing their name is on is ... |
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 What does an acre of land sell for in your area? |
Additional Details
Please tell me where said acre is located.... |
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 Can rent on a lease be increased during the lease? |
| I have a 2 year lease with 9 months left on the lease. The landlord has sent me a letter stating my rent will be increased. There are no provisions in the lease (I have read it carefully) which give ... |
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 Renting a house from private owner - what if they pass away? |
I apologize for how rude and brash the question is, but there's really no other way to ask.
My boyfriend and I are looking into possibly renting a home from a older man (in his 70'... |
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 What do think they mean by this? |
'has an open plan kitchen/lounge diner, bay window to dining area'
... |
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Sherry | Is it easier to get a home loan now because of the housing slump or harder? |
I am interested in buying some land but do not have great credit. Is it easier to get a loan now or should I wait a few years and hope the market comes back up? |
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David Beasley
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HARDER! Lenders are tightening up! Credit requirements are stricter, fewer exceptions for this and that, etc.
You need to get with a mortgage broker (bankers have stricter rules) who can shop your loan and present COMPENSATING FACTORS for the things that make you not fit exactly.
These are:
1) job stability
2) year over year growth in income
3) paidoff/down credit accounts
4) paid off collections
5) your OWN $ down (as opposed to down payment assistance)
6) and many others
Get with a mortgage pro with your paystubs/W-2s/bank statements and get qualified! |
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Nate
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It's generally more difficult. When it comes to land, even more so. You will likely have to have the owner of the property "carryback" a significant percentage of property purchase price and come with a large down payment. It's probably not going to be any easier to get a loan in a few years because lenders and the economy will still be suffering from the effects of this and interest rates will probably be higher as well. Good luck. |
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Marysue
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There’s an up and a down side right now
The “Half Full” take: Because home prices aren’t as inflated as they had been, someone who might not have been able to buy a couple of years ago may now have the means to afford a housing payment. In a few years, prices will be higher. That's good for sellers, bad for buyers.
The “Half Empty” take: Poor lending practices and dishonest borrowers have reminded the lending industry to pay attention to who they’re loaning money to. This makes loans harder to get so you MUST have the income and the credit score to get a loan. |
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*Sunshine*
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Harder! You need to have great credit and no liabilities (credit card debt/lots of car payments/bill.)
Lenders are more specific when looking at your credit report and are much more strict because they want to lend to solid people to avoid the housing catastrophe!
Concentrate on repairing your credit before you apply for a loan. If you do not have credit score over 700 you may be denied. What is your debt load v. your income? If you pay more than 50% of your monthly income to debts/credit cards/ect then you will also be denied a loan.
Even if you wait until the market begins it cyclical upswing the lenders will still remain strict to avoid this problem in the future...so pretty much since the housing slum began it marked a permanent change in the way lenders work and how stringent they are with lending to people...if you have poor/fair credit you'll most likely be denied a loan.
And if you are trying to get preapproved the rule of thumb is to have 3 places give you quotes. My husband and I did that!
Please work on your collections and try to settle your debts to improve your credit score. Then go in and get preapproved. An underwriter WILL NOT lend to you if you have accounts in collections and judgments against you! |
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bbwebpuppy
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It's much harder. I do loans in CA and do have a lender that will do about a 50% loan on a land purchase. They said you don't need great credit either. If this helps |
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Valerie B
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It is harder to get a loan now. But it is still possible without good credit. You will need to have documented income and have an acceptable debt-to-income ratio, as well as some money for a down payment. There are loan calculators on the internet to help you decide what you can afford and if it is a good time for you to buy. |
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Sahara
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It's harder and interest rates are increasing. To buy land in the state I live in anyway you need to have a pretty sizeable downpayment too. Land is very expensive where I am. $100,000 for an acre is low. It can be a lot higher than that even in not so great areas.
It doesn't hurt to shop around and see what you get. Check out 3 places.
It depends on your goals. |
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Biggie @ Arbor Mortgage
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If you have a 580 or higher, it is pretty easy to get an FHA loan as long as you don't have a lot of collections etc. If you don't, wait it out, because it will not even be worth your time. |
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AFwife
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it was pretty easy for us, lenders are desperate right now, (we have 2 car payments and some credit card debt and we still got one, but we always pay our bills on time) |
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