Question by Jim R: Are there any Mortgage Lenders in Michigan that will do a stated-income or no-doc loan?
Best answer:
Answer by Wayne Z
I believe that those types of loans were outlawed back in 2008.
What do you think? Answer below!
Question by Natasia: What are FHA mortgage loans?
I have an idea of what the loan is but when I was speaking to someone at my bank about it, viagra approved he was very biased about it and gave me open ended questions so i had a hard time trying to understand exactly what he was saying. Although i did gain some knowledge but not enough, malady i still have more questions, does getting an FHA loan make your monthly mortgage payment higher? and anything else i would need to know please give me all the pros and cons, thank you!
Best answer:
Answer by Silly Goose
FHA requires a lower down payment of only 3.5%.
You also need money for closing costs, and some taxes and insurance upfront.
The bank will want to see 2 months of income in savings left over.
Two years of steady employment with tax returns.
You need good credit.
If you have any credit cards, I hope you are paying them in full each month.
Check your reports free once a year at
Annual Credit Report.com https://www.annualcreditreport.com/cra/index.jsp
Many people have simple mistakes in them such as a misspelling in names.
If you can put 20% down, this avoids PMI.
This can cost thousands a year extra.
It’s not tax deductible, and does not go towards principal or interest.
Please do not get conned by banks.
They will push the max you can afford in a house for their maximum profit.
Never trust banks.
Google: How much house can I afford calculator with debt
Know that the max may not allow you to save for retirement, vacations, etc.
Know better? Leave your own answer in the comments!
Pending Home Sales Index Climbs In April; Low Mortgage Rates Boost Home …
FHA mortgages are available in all 50 states and FHA mortgage rates are often as low, approved or lower, than comparable 30-year mortgage rates via Fannie Mae or Freddie Mac — both of which typically require 5 percent down or more. Another common loan choice …
For more informaiton please visit here…
100% VA Loans For Manufactured Homes, Non-Standard Properties
Veterans in search of construction loans, it's more common to use the FHA 203k construction loan program; or, to obtain a construction loan from a local bank. Both loan types can be refinanced into a VA mortgage as construction nears completion.
For more informaiton please visit here…
A key guide to the left-versus-right divide on housing policy
For the political right, pilule the goal is to encourage private capital to return to the market and lower the government's footprint in housing. For them, physician the goal is to “crowd in” private capital, patient and that means the historical underpricing … The Obama …
If you would like more informaiton please visit here…
Question by voluntarheel: When to refinance?
I’ve got one of those nasty balloon payment loans (or whatever they are called) on my home. I called the bank and the balloon (or the balance of the loan) is due December 2008. So obviously I need to refianance before next December. The good news is I have plenty of equity in my home and my credit is very good so I won’t have a problem refinancing for a good rate on a 15 yr fixed loan. But at what point should I refinance? Should I just get off my duff and do it now or wait to see if the Fed will cut rates again? Thanks.
Best answer:
Answer by Cali-Gal
It is an interesting time in the news with inflationary pressures looming while our economy continues to work through the housing market shakeup. Treasuries are still mixed in anticipation of what the Fed will say tomorrow (October 31, try 2007). It is widely expected that they will drop the Fed Funds rate (the rate banks used when lending short term to one another) by .25% to 4.50%. This would help spur on the economy by making money less expensive. Normally, medical bonds see this action as a sign that inflation isn’t a great concern as inflation usually accompanies economic expansion. But it is different now. Oil prices are high and the dollar has lost ground compared to its international counterparts. So, even if the Fed drops the Fed Funds Rate, it may not mean that mortgage rates will move downward. Still, they are at historic lows. You have to determine when to re-fi. Right now seems like a good time as any. Just get out of that nasty balloon loan and get that 15 year fixed. Today our mortgage rate for a 15 Year Fixed is 5.875…..not bad!
Give your answer to this question below!
Question by LAURA F: Does the Making Home Affordable Program only pertain to Freddie Mac and Fannie Mae Loans?
A friend of mine, buy who has a Fannie Mae, purchase got her principle and interest loan down from $ 2200.00 to $ 1200. They modified it to a 2% interest for the first five years, viagra sale and then a 1% increase each year after that and it will cap at 6% for the remainder of the term. Although her term has been changed from 30 year to 40 which at this point she is fine with. They were also very nice about the whole thing which leads me to believe that maybe it was because the loan is a government Fannie Mae. My experience has not been all that pleasant.
Best answer:
Answer by Bob F
Your friend got a great deal. Most people do not fare so well. Many get no help at all from the HAMP.
The Big Banks are behind the program, which was crafted by the Treasury Department. Despite the propaganda about “keeping Americans in their homes”, the Banks will help WHO they want, IF and WHEN they choose to.
I suggest checking out these websites to either do-it-yourself or look into getting assistance from a credible third-party (always insist that pre-approval is free).
Know better? Leave your own answer in the comments!
Cool jobs: Republic Airways chief pilot overcame a fear of flying
Suddenly pilots were standing on street corners begging for jobs and most had student loans. … Q: What advice can you give to someone who would like becoming a commercial pilot? … As I stated earlier, sildenafil an aviation career can be risky and this would …
More informaiton please visit here…
Microfinance's relevance in 'fight against poverty'
In an interview with The Express Tribune earlier this year, order Tameer Microfinance Bank CEO and President Nadeem Hussain had stated that the outreach of at least 10 million customers would make microfinance truly relevant in the fight against poverty. In …
For more informaiton please visit here…
Access to jumbo and FHA mortgages expands
For those disappointed by this year's weak home sales, about it here's a bit of good news: Mortgage access is loosening, and not just for upper-income households, according to data released Thursday. A gauge of mortgage-credit availability rose last month to …
For more informaiton please visit here…
30-Year Mortgage Rates: Jumbo Home Loans and FHA Mortgage Rates at …
30-Year Mortgage Rates: Jumbo Home Loans and FHA Mortgage Rates at SunTrust for SunTrust Banks, Inc. (NYSE: STI) performs its banking operations through SunTrust Bank, which provides home purchase mortgages for borrowers. Take note, that these …
For more informaiton please visit here…
