 I am buying a home and the broker is threatening me, using information I supplied to get the loan against me.? |
| He says if I don't give him all the money in my bank account then he will not sign off on my loan. The loan company signed, the title company signed... but the broker will not sign. He says he ... |
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 Landlord wants me to do my own background check? |
| I want to rent a commercial space and my landlord wants me to perform my own background/credit check. I've never had to do this before, as all my previous landlords did this for me. Is this ... |
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 HELP. I have an opportunity to buy a 2500 sqft home for 360k and no down payment with an interest only loan? |
| for 7 years. This is because my parents cannot sell it in time and will have to foreclose. I only make approx 45k a year, I can afford the payment because I have permenant renters (brother and sister)... |
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 UK QUESTION - What is are the benefits of being a home owner? |
| YES I know its an "investment" . Me and husband have been homeowners for the last fifteen years and I don't feel that we currently benefit from being homeowners (maybe when we're ... |
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 Renting an apartment and shelves? |
| I'm currently renting an apartment and want to put up some small shelves. My lease doesn't say that I can't do it, but it does say I cannot alter the apartment in any drastic way or ... |
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 Can a balif enter my house when im out and remove my possesions? |
Additional Details
sorry guys and thanks but i looked it upif your out they cant if your in and hide and keep quite they cant! ha ha although there is one case where procedure wasnt ... |
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 Are landlords aloud to splice your phone line? |
| Yeah... so for a few months now I have been hearing someone pick up another line while I am on the phone and my hubs at work. My landlord lives above me. I will test the line by clicking "... |
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 How can I prevent landlord from entering? |
| I tried yesterday, all day, to get a judge to enter a restraining order against the landlord. He refused. However, the landlord has not evicted me. Instead, he harassed me with a fake "notice ... |
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 OMG Electric bill is nearly $600!!!!? |
| I live in the upstairs of a house that has an illegal basement apartment and I split the bills with the man that lives downstairs. He has a hot tub and I"ve been trying for a year to get him to ... |
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 Taking over a mortage? |
| My boyfriend and best mate have a mortage on a house. I want to take over the mortage from his best mate (so he and I have the mortage). What are the best ways to do this?... |
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 Is my landlord trying to be greedy to keep my security deposit? |
| I have my final inspection coming up here next week, but my landlord keeps throwing new things at me... I got the carpets steam cleaned and look almost like they did when i moved in.. yet he wants me ... |
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 I've changed my mind on buying a house, can I get my earnest money back? |
| We signed a whole bunch of papers with intent to buy the house, but we really want to make a more informed decision before purchasing our first home. What do we need to do in regard to the papers we ... |
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 I told my landlord by email that I'd be moving out in August on July 2nd. Can that count as a 30-day notice? |
| I told my landlord on July 2nd that I'd be moving out in August. The exact words were "we're planning on moving out... in August." written in an email. I gave her our specific ... |
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 Would you sacrifice a long drive for a beautiful house? |
I just wanted to know how many of you would drive lets say an hour and half to work knowing that you have this big, beautiful house to come home to everyday?
My bf and I have been talking ... |
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 Is this normal in a rental agreement? |
We came across 2 things that seemed odd, but maybe it is normal.
first, they require that we have renters insurance. okay that is not weird. but then they let us know that they also have ... |
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 Buy or rent a $450k house??? |
I have an opportunity to rent a house that is worth about $450k for about 1900/month. Agent telling me i should just buy one instead but my math says otherwise.
1900/month X 12 = 23k ... |
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androx | What criteria do you have to meet to get a morgage? |
how long in a job , what kind of wage earned, circumstances etc |
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Faye H
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Decent credit. Enough income to pay the monthly mortgage payment. Type of job usually doesn't matter, unless whatever you do is illegal. Length of time in a job will figure in if you haven't been employed very long. However, you can get a mortgage fairly easily if you have a past work history, even if you've only been in your current job a short time.
I'd say the biggest factors are credit score, amount of debt you currently have and enough income to pay a new mortgage. |
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Finbarr D
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Depends where you are but the current practice in most of Europe is a calculation of debt/service ratio, broadly equating to not more than 35% of net income required to service the loan at current rates plus 2%. These days, if you can prove the income in the past, questions beyond that (like job security and re-employment prospects) don't get asked. The key to successful use of any credit is affordability, not what you can wangle out of a lender. |
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Ollie
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Its pretty easy to get a morgage if you have a good credit history
& your wages match the repayments for morgage.I would shop around theres some good deals.You can check on line.Good Luck |
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Fearless Leader
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There are exceptions and special loan programs for almost every scenario, but for a Fannie Mae conventional loan, you will need two years employment history in the same line of work; debt-to-income (DTI) ratio of 43% or less, including the new mortgage, taxes, & insurance; any bankruptcy must be at least two years old; credit score above 600 for no-down payment, lower if you have down payment and/or reserves. For reserves, they like at least two months of payments in a liquid account.
Rick
http:www.fairwaymortgagelending.com |
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bostonianinmo
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A decent credit rating and sufficient income to make the payments. I've gotten a mortgage with as little as 6 months in my current job though I did have decades of continuous employment and a strong credit score. |
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Davy Crockett
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Different Building Societies, different rules, but basically, you need to be in a permanent job (Ideally for some time), have lived in the same place for at least 1 year, earn annually, at least one fifth of the amount you need and ideally have not court judgments against you.
Some lending sources will still lend to someone with CCJ's , but the rate will be higher.
Lots of companies will 'credit score' you to prove your suitability. You get points for - time in present employ, time in present home, in fixed relationship, have tel. landline, over 21. etc, etc. |
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Crystal G
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It really depends on the company. I know that here in MA there is Sunset Mortgage, they can find programs for almost anyone, even if you can't verify where your income comes from, bad credit, etc. Listen to the radio whereever you are, there should be companies advertising that will say good credit/bad credit/no problem. Give them a call or go to thier website. |
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ibiza99
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Faye is correct. You need to have a solid work history for at least a year, preferrably two. Decent credit score (above 550?... not sure on that exact #). Your debt to income ratio should sit at least at 60/40 (with only 40% of your income currently going towards debt, i think that means). If you can get a no or low down payment mortgage, you should still have enough cash on hand to cover expenses in obtaining the loan (escrow, other fees & such...$1000-$2000 tops, depending on the loan amt). On the other hand, If you get a traditional type loan, the down payment is uaullay 10% of the mortgage amount (which is a lot). Hope this helps...don't give up. Banks can be difficult and require verification of every spec of information, plus some. If you get turned down at one, search out a different company with different loan options. If reapplying somewhere else, though, watch the numer of times they run your credit score, as too many inquiries can end up lowering the score. There are tons of mortgage options out there for first time buyers, but you need to do your homework so you don't get screwed. |
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b97st
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Good credit, well paid job, no blacklists or CCJs against your name or been declared bankrupt. |
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agropelter
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its a complex point system
a few points each for many things
mostly they want to see that you pay back money on time
you can borrow like 4 times yearly earnings usually I think |
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Dicky Snapples Hides Apples
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These days, you need to be wealthy or have wealthy parents.
Sad, but for the most part, true. Unless you don't mind living in a grotty 'fixer-upper' one step down from a garden shed. |
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