Question by Tomtom02: Refinancing our Mortgage – Help?
My wife and I are wanting to refinance our current mortgage. We tried about 3 months ago and was told that the house didn’t appraise high enough. Not sure how they got that b/c they didn’t even come in to the house. We got a letter from the state about our taxes and they had our home and property listed as being valued at 198, salve help 000. Our mortgage is $ 123, side effects online 000 and our home equity is 40,000. They appraised the house at 160,000 (the bank that we tried to refi through). We were told that they can only give us 80% of the homes value. Since that time we have put on a new roof, new HAVAC unit and new windows in the back of the home. Can someone explain how we could get approved to refinance for the amount needed to combine our mortgage and home equity. We’ve been in the house for 7 years now. Our credit scores are average hers is 637 and mine is 645. Wondering if this would hinder any decisions? Are there any things that we can do to improve our chance of getting the money we need and lowering our payments?
Best answer:
Answer by Go with the flow
Fix your credit also.
Your scores are low.
Know that you will not get those interest rates advertised.
Get a book on Credit Repair from a library or a bookstore.
Know that carrying credit card balances seriously reduces credit scores.
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Question by : How long did it take you to pay off your debt completely?
My husband and I are on a mission to pay down the debt and live completely on cash. We are down to a 30, store 000 student loan. I’m dying to knock this loan out by december 2011. The pain that debt has caused us has been very real, viagra 40mg and I am absolutely ready to see it gone from my life! Any other debt recovery stories out there?
Best answer:
Answer by Summer Lover
I only have $ 1,000 debt.
I should be able to pay it next week.
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Question by ~Willow~: What is the best web-site for Real Estate?
We are looking to move, hospital more property and a bigger home. I have been to many websites but I was just wondering if you all could tell me the best web-site you have come across. Thank you so much for your help!! =)
I live in Maryland and we are looking for MD property or Southern PA property… anything will help!!
Best answer:
Answer by Patricia C
www.realtor.com
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Question by Capo Crimine: Do I need a real estate agent to refinance my home?
I’m planing in refinancing my home for only like $ 30, there 000. This dude tells me he can help get the lowest points. He wants to CHARGE ME $ 6, what is ed 000!!!!!!!!! Hell no!! WhAt should I do.
Best answer:
Answer by SG Elite
You don’t need a realtor to refinance your house. They don’t have the monies. You need banks and finance companies so don’t get conned.
What do you think? Answer below!
Question by : What CA mortgage brokers are recommended?
I’m looking for a reputable mortgage broker in California. If someone could please let me know a well known ca mortgage brokers I would appreciate it. Thanks!
Best answer:
Answer by MrRight
i have been through the refinancing process before and i cant tell you how much of a pain it was for me and my wife. communication is really important for us and we really liked to know where we stood in the process and and kept in the loop every step of teh way.
the guys i used was total mortgaeg. they were really helpful and knew what the heck they were doing. the ca mortgage broker i used was very friendly and professional. i’ve added two links below to their site and their rates page. ask for anthony when you call, information pills he’s the one that worked with us. i would highly recommend total mortgage to anyone who is looking to buy a home or refinance.
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Question by Laurellamags: what is required to buy a home?
I would like to know more info on getting approved for a mortgage. What should a fico be at? income requirements, find job info, clinic bank account should be at what…etc etc…I would like to know basically everything there is to know before I go to get pre approved for a home and how to maintain the payment and not go into foreclosure.
is there sales tax in home buying? like the list price is 180k, medicine but with tax it would be 200k, or do you just pay 180k and that’s it?
Best answer:
Answer by AB
You will need a FICO score of at least 750 in order to qualify for the best interest rates. With the credit crunch, loans for people with FICO scores under 600 or so will probably have a hard time qualifying. Also, you should try to get at least 10% saved for a down payment (preferrably, a 20% down payment in order to avoid PMI). There is no set rule for how much home you can afford but you should look at spending around 30% of your take home for the mortgage. If you only qualify for an interest only rate loan for 30%, then you are trying to get into a too expensive home. Also, the credit crunch has lowered the amount of no verification loans, meaning that you need to have a few months worth of pay stubs to show that you have a steady income. Good luck!
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