August 27th, 2009
raju79
jiggywalker2008 asked:
If you wanted to build your own house, would you apply for a construction loan? What are the terms of a construction loan? How hard is it to get one?
Posted in Renting & Real Estate
Tags: Building A New Home, Construction Loan
August 26th, 2009
raju79
cantholdmd asked: 30 year fixed? 2/1 ARM? I need a loan with no PMI and low points and the lowest possible mortgage payment a month. What Im working with:
Credit score 600
Annual assets (Salary) 34500
Monthly Debt: 70
House loan amount: 106000
Available to put towards closing costs (Including down payment) 12000
Any ideas?
Posted in Renting & Real Estate
Tags: Assets, Credit Score, Pmi
August 26th, 2009
raju79
kelly m asked:
I am looking to get a loan for a modular home and a piece of land. We would need about 250,000. My husband claimed bankruptcy in 2001 before we were married. I have good credit and make close to $60,000. However, I do have a few credit cards and a student loan to pay. He makes about 35,000, has limited credit cards and a car loan. For the most part we both pay our bills on time. Do you think the bank will even consider giving us a loan?
Posted in Renting & Real Estate
Tags: Bankruptcy, Credit Cards, Modular Home
August 26th, 2009
raju79
BDZ asked:
I have an ARM. I cannot refinance. How can I go about negotiating a loan modification with my lender. I don’t want to be just a name and account number. I can meet the existing payments and to date have not fallen behind. If they raise the interest rate any further then that will be the tipping point. Are there organizations out there to help me such as HUD, etc. Do I already have to be in default before they’ll consider a loan modification?
Posted in Renting & Real Estate
Tags: Loan Lender, Loan Modification, Refinance
August 24th, 2009
raju79
Nicolleta asked:
Everything seems fine. House appraised good the inspection went well and the loan company has everything they need and have approved the loan. But sometimes I hear loans fail to be funded at the close of escrow. What can cause this and how likely is it?
Posted in Renting & Real Estate
Tags: Contingencies, Escrow, House Inspection
August 23rd, 2009
raju79
•?Jennifer?• asked:
what is a good home loan company where you can aply for a loan and most of the time your loan gets approved. And i’m talking about a home loan.
Posted in Renting & Real Estate
Tags: Good Company, Home Loan, Loan Company
August 23rd, 2009
raju79
Bri up asked:
I’m getting a mortgage loan through a mortgage company but the guy that is giving me the loan seems a little bit to excited. How much money is he making off of the loan of 170,000 and what should I look out for?
Posted in Renting & Real Estate
Tags: Loan Mortgage, Mortgage Company, Mortgage Loan Officers
August 22nd, 2009
raju79
phaty_bo_batty_jp asked:
I am in the military and have used my VA loan to purchase our current home. Our home now, we would like to keep as a rental after we are reassigned to a new base, until retirement. I have 10 years until retirement and would like to purchase a fixer upper in MA, where my wife and I plan to retire. By purchasing a home now we would be able to rent it out, paying down the mortgage, until after retirement. Some of the home’s we are looking at require some serious work, ie plumbing, electrical, flooring. What type of loan would best fit this project and who are some credible lenders that carry it?
Posted in Renting & Real Estate
Tags: Current, Fixer Upper, Work Ie
August 21st, 2009
raju79
amyann16 asked:
My husband and I are 1st time homebuyers. We have been preapproved for a house loan, but are not having luck finding what we want. We have toyed with the idea of building our own. What are the differences between getting a preapproved loan and buying a already built house and going through getting a construction loan? Do you have to put money up front for a construction loan? Do you make mortgage payments while the house is being built, or do you wait until the house is completed? Is there a time frame that the house must be built within? If we were preapproved for a certain amount with a homebuyers loan, would we likely be preapproved for the same amount for a construction loan? What other differences should I know about? Since we are first time homebuyers we do not have much collateral (we do have some savings, but not a ton), would that affect our ability to get a construction loan?
Posted in Renting & Real Estate
Tags: Construction Loan, Ins And Outs, Mortgage Payments
August 20th, 2009
raju79
Connie M asked:
Three years ago, we refinanced our house, got into a 3 year ARM, didn’t know anything about refinancing so I did that, thinking that was the best thing to do. It was worth $182,000, the loan was for $139,000. Because of the housing market in Florida, one lender said my house was only worth $125,000 today. How am I to get refinanced now, what happens?
Posted in Renting & Real Estate
Tags: Cuz, House Worth, Housing Market
