 How long do you have to own a house before you can get a home equity loan? |
| My husband and I are in the process of buying our first home. We got a great deal on the house at 1/2 the appraised value. How long do we have to own the house before we can take out a home equity ... |
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 When should I buy a house? |
With all the news on house prices at the moment, is it a bad idea to buy a house?
I'll probably have enough to pay at least 20-40% upfront but is there a good chance the value will go ... |
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 When selling a house through a Realtor, how long is the contract for? |
| Ive had by house up for sale by owner with no bites. Im thinking about putting it through a realtor but was wondering how long it would be up through that realtor?... |
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 Were can one go to apply for a government grant to buy a home. and if there is some were how long does it take |
| i need help buying my home i live in have bad credit so i thought that there might be some kind of grant program that can help. it can be some kind of loan i could pay back i dont want it for ... |
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 What can be be done about an illegal eviction? |
| I received a phone call tonight from my brother's landlord telling me to come get his belongs or he was going to put them outside. There was no court order, no hearing, no nothing. He went into ... |
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 Is it legal for a realtor to show an occupied apartment? |
| This apartment is currently lived in, with the occupants having a one year lease that is not set to end for 11 months. The realtor is showing the apartment despite a sign that asks them not to and ... |
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 Is Renter liable for damages? |
California:
I was renting to someone who didn't regularly clean the house including the bathrooms and kitchen. One of the bathroom shower faucets began to drip but never told me. As a ... |
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 How does a mortgage work? |
OK, im looking at buying a house and though I have a vague understanding of what a mortgage is, its still pretty confusing. Can someone explain to me how it works, what i am paying, etc...
... |
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 What are the steps in buying a property? |
| I'd appreciate it if someone broke this down for me. For example, do I need to get a mortgage first, then starting looking for a property? then what? I based in the UK if that helps.... |
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 How do I go about getting a loan to purchase a home? |
| I have found a home that I want to purchase, nothing new but it has potential, the price is 75,000...what qualifies a peron for a loan to purchase a home???I am 23, My credit is @600 and I have a ... |
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 Im a 1st time buyer looking for a property in london. Budget is £200,000, where in can i get value 4 money? |
| Current seeking 2bed house/flat in london, this is a challenge being 1st time buyers but we desperately need to get onto the property ladder. Please can you advise what area within london or ... |
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 I am selling my house privately, do I need an attorney for the seller disclosure agreement or just closing? |
| One of the potential buyers has requested a copy of the seller disclosure document, I have downloaded the one for our state, but do I need an attorney for that, or do I just take it to closing with ... |
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 We were preapproved for a mortgage but at underwriting they keep dening loan because of unique property. why? |
| we had the appraisal done, we have tried different lendors but because there are not enough comps the property is considered unique. what can we do?... |
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 I can't get any info from the realtor, what do you think may be wrong with these homes to be so cheap? |
| I really like the look of these homes, but when I call the realtor they will not answer any questions about the home, they keep suggesting the more expensive newer homes. I don't like the look ... |
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 Can somebody help me find an apartment!!!!? |
| My husband and I are looking for an apartment in or around Galena, IL. We have already looked at all the major apartment websites and have had little to no luck. I was wondering if anybody knows ... |
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leah | Would you do this if you had too? |
My fiance and I are going to apply for a townhouse today. The only problem is our income. THe rental goes for 1150.00, and combined we only make 2,452.00. We have no debt is only paying off my ring, which is almost done. Now I was told my a friend of mine who also rents a townhouse, to lie about the income..that they know how to mess with the bank statements and paycheck stubs, and my fiances employer is more then willing to help him out. Is this necessary? We make double the rent..isn''t that enough? We would have enough to pay rent and live off of, we already calculated all the bills, gas, food, sundires, insurance, etc...and we still have money left over! What does a landlord look for? |
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J P
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The landlord will look for your pre-tax income to be at least three times your rent. |
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estielmo
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Lying on the application makes you subject to immediate eviction. You don't make enough money. If your total gross income is 2450 then you should be looking for a place that costs about 800, max. |
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livinfree90
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Well first of all messing with bank statements and paystubs is a federal offense so doing that may not be your best bet unless you're looking for free room and board and a pretty orange jumpsuit! OK, chances are you aren't the big fish they're looking to fry so you wouldnt really get arrested, but it is still illegal.
More importantly, my personal oppionion says that you wouldn't want to move into a home 46% of your income. All of your necessities including gas, food, clothing etc. Should never exceed 50% of your bring home. I'm sure you've heard it said that most people are only 2 paychecks away from being homeless. Well that is why.
You may want to read this article. http://hubpages.com/hub/What-Happened-to-The-Economy
Also on my site http://livinfree.com there is a free eBook that has a detailed money management section in it. (You don't have to buy anything to put this plan into action.) |
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Judy
 |
Page after page of financing magazines tell me to never make a mortgage that takes up more than 30% of your take home pay.
Do you have 3 months salary saved in case someone loses their job?
Do you have another savings in case a car breaks down or you get injured?
If you are buying the townhome please do a 30 or 15 year fixed. No 0% interest, no introductory apr's, no baloon payments, no option payments. Make a plain and simple loan. Anything else will get you in BIG trouble. |
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Gertie
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You have no debt but your still paying off a ring. HELLO THAT IS DEBT
The landlord may contact your employer and pull your credit report. |
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schwildcat1977
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NEVER LIE ON AN APPLICATION!!!
They will find out and not rent to you, evict you if you move in before they find out and possibly file charges for fraud.
Most places look for income to be 3 times the rent. Even though you think you can make it, 2 times the rent is not really sufficient. Your housing cost should NEVER be more than 1/3 of your income.
You have to take your chances. If they approve you with insufficient income (unlikely) they will probably require a larger deposit for when you inevitably have trouble paying the rent. |
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Loving Wife
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Take your annual combined income and x it by 35 % divide that by 12. If this is the rent or less you can afford it if not move on.
Good Luck |
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Trouble
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You do not make enough money to comfortably afford the rent.
You and your fiance are willing to lie and commit fraud to get into an apartment that you cannot afford?
Your fiance's employer is willing to commit fraud? Really?
2 x the rent is not enough. Generally landlords require the tenant to make 3 - 4 x the rent.
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tink
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You make enough to pay 735 per month in rent. All your other expenses will most likely be the same so think 1471 per month just to live, eat, drive, have heat. You will have 981 left at the end of the month lucky you. |
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Pengy
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Think you best recalculate what you will have left over, do not think it is enough. Lets see about 1300 a month. Do not know your insurance but would guess
$100 month
Electric $100
Cable $ 50
Internet $ 30
Heat $150
Water Sewer $ 50
Food $ 500
Going out $100 (low and cheap)
Clothes $200
Emergencies $200 (car breaks or something)
Cleaning sup $ 25
Decor $100
Lets see we are already over $1500 yes you can dispute or say that you will not spend that amount and in a dream world you will not, but in reality you will. First get better jobs and increase your income or the next question you will be asking is landlord is trying to evict us what can we do.
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