 Closing on our house? |
| My husband and i are closing March 28th on our first home. We are very excited but we have had alot issues come up and have almost had to back out for one reason or another several times. Right now ... |
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 Is the whole country the same? |
| I have just finished researching every state and almost every city in the Americas for the purpose of moving. And what the bloody heck, it's all the same cost! same rent costs, almost the same ... |
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 Have you noticed? |
Hi
Have you noticed that since we've all been asked to do our bit for the environment by using less electric, gas etc, the bills have risen quite sharply, simply the capitalists that run ... |
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 What is the best way for four people to buy a house together? |
| I am considering purchasing a house with 3 people (2 couples.) I am looking for advice on how best to apply for a mortgage. Should one person do it with a side contract between the partners? Or ... |
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 Are home prices dropping in california? |
If so, wouldn't this be a better time to purchase a house? Although I was told that prices may drop even more so give it some time...
Also, do real estate agents get some kind of ... |
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 Mortgage Broker offering 7.25% interest. Is this too much? |
| My combined credit score is 605. It is so low because I have debt that is at least 6 yrs old. I have been on my job for 6 yrs. My debt ratio is next to none. Is this too much or do I need to ... |
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 Is a FULL survey necessary when buying a house? |
| How does it differ from the other levels of surveys?... |
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 What are the advantages or disadavantages of being a cosigner on a 30 year mortgae for a friend? |
| A good friend of mine has asked me cosign for her mortgage application. I have reservations about soing it. Anyone been in such situation before? Can I get of the obligation to bank if I want to ... |
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 What is a good Christmas gift from a landlord to a tenant? |
| My husband & I purchased a small apartment building at the beginning of the summer (3 apartments). We had never been landlords before, and we would like to give something to our tenants, but we ... |
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 What happens if you have a baby and it causes you to have too many occupants in your apartment? |
| We live in a one bedroom apartment with our one year old and will be having another baby soon. We are only allowed 3 people in our apartment- I didn't see anything in the lease about a ... |
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 EMERGENCY!//Can my landlord restrict who can stay in my room? |
EMERGENCY!!!
I have a month by month lease. It says there is not allowed overnight guess. My brother is came to visit me for couple weeks. Although he comes from overseas, my lanlord said that ... |
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| How do I go about selling my house myself ie. without estate agents? |
| Anybody got ideas about or experience of selling a house without using an estate agent.... |
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 Is there a need to hire a Realtor if we know the seller? |
| My fiancee and I are buying his parents house, as they are moving out of town around the time we are getting married. Is there a need for a realtor? For paperwork, etc?... |
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 Sharing an apartment with a couple - how should the bills be split? |
| I recently moved in to a 2 bedroom apartment and am sharing with a couple. How should the bills be split? They say I should pay half but I would think for the bills they should be split 3 ways as ... |
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 I keep hearing that it's a 'Buyer's Market' - but where are all the buyers??? |
| So I keep hearing that it's a buyer's market and everyone's telling people to BUY NOW because it's a great time to buy, but my question is, where are all the buyers??? lol My ... |
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 Apartments without Refrigerators, Why? |
My husband and I are trying to find apartments in California because we will be moving in a few weeks for his job. We currently live in Missouri.
Nearly every aparment listing we find doesn&#... |
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 Any advice on selling your home and going back to renting for a while? |
| My husband and I are new homeowners (less than 5 years), and we may have purchased a home too hastily. I say this because we are not truly happy in it and feel if we save money, we could do a lot ... |
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 I make $35k - how much home could I afford? |
| Condos are as low as $99k where I live, plus I'm eligible for first-time homebuyer grants.... |
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neworleanshawtie | What is a good way to get a mortgage loan for a first time home buyer with bad credit? |
I have paid off all delinquent things on my credit report and all I have on there is my carnote and my student loan which are both in good standing. I still have a low credit score which is what is damaging me right now. Any suggestions of lenders or companies that can assist me with purchasing a home? |
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mazziatplay
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There may be financing for you but a lot will depend on just how low your credit score is and how much money you have to put down.
Mortgage lending decisions are based upon "perceived risk". Most lenders use an automated underwriting system developed by either FNMA (Fannie Mae) or FHLMC (Freddie mac). These systems are score driven and make it difficult to get approval on a low down payment loan with low credit scores.
If your score is below 600, you may need to use a sub-prime lender. Traditionally, their rates are much higher and may have pre-payment penalties on the loans which tie you to that loan for a 2 - 3 year period.
Congratulations for taking the first step and paying off all of the delinquent loans. You are on the road to good credit again. Each month your credit score will improve now as long as you keep making your payments on time.
My best recommendation to you is to start putting away as much money a month as possible. The more money you can put down as a down payment, the more favorable loan you will qualify for. If you can delay your purchase for a year, you may well be able to qualify for "A" level financing. A year isn't a long time and now you have a goal to work towards.
Good luck. |
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smokey17044
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contact the Fannie Mae foundation or check your yellow pages for mortgage brokers. |
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lendermark1
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Do you know what your credit scores are?
http://www.lendermark.com |
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Pete
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Best advice I can give you: shop around. There are a lot of lenders out there, just spend a day calling them and explaining your situation. If they can't help you, a lot of them will be able to refer you to someone who can.
Oh and If you can save up a good down payment, that will help out a lot. |
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ryansdad20042000
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The only suggestion I can give is to check with HUD-VA, there are a lot of programs available for first time buyers. If the problem can be that you are located in area that FEMA has total control. It maybe possible that your location can not be solved through conventional land records. |
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shot0521
 |
First of all, how low is your credit score? It is relatively easy to raise it over 6 months, depending on what your "bad" issues were. You can look at any of the three credit bureaus websites for that advice (Experian, Equifax or Transunion). Also, shop around and ask. Do you have other business with any financial institutions? You might want to start there. Also, there are a lot of lenders who will take on your mortgage with an extremely high finance rate, so be careful of them! |
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pseudo
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For info try http://www.homebuyingguide.org/
Also try a search for your state housing finance agency or state housing development authority. They have assistance programs for first-time homebuyers.
Sometimes the recent payoff of debt can keep your score low because there is recent activity on delinquent accounts. If you can wait 3-6 months your scores may improve significantly. When you talk to a lender, bring a copy of the most recent credit report you have. The lender should be able to let you know if you can qualify now, or should wait for your scores to improve. |
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indsmaz
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There are government and non-profit agancies that can help with these matters. Google some key terms such as "low income housing." Be creative with what you type in for keywords and im sure that you will find something. Good luck! |
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jennlupe
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Try Wells Fargo Bank. Many options easy to work with. |
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