refinancing mortgage?

Posted on Apr 26, 2014 in Unique Loan Programs

Question by : who offers the best fha loans?
who offers the best fha loans?

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HARP 2.0 : Underwater Homeowners Need Fewer Loans Over 125% LTV
In late-2011, page the Home Affordable Refinance Program (HARP) was made available to U.S. homeowners whose mortgages were "severely underwater". The program was a hit. At its peak, there HARP loans for which loan-to-value (LTV) exceeded 125% accounted …
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Maryland Man Sentenced to Jail in Million Loan Mod Scheme
Also according to court documents, viagra dosage the conspirators misrepresented that, with HOPE's assistance, the homeowner was guaranteed to receive a loan modification under the Home Affordable Modification Program (HAMP), which is part of the Troubled Asset …
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Quinn promotes Welcome Home Illinois Program
CHICAGO – Governor Pat Quinn Tuesday addressed the annual Illinois Governor's Conference on Affordable Housing where he discussed the state's commitment to affordable homeownership and the new Welcome Home Illinois loan program for first-time …
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Question by jainika s: requirement 4 home loan?
best deal 4 home loan

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Answer by Finance1o1.blogspot.com
1) Are you able to make at least a 20% down payment? If down payment will be less than 20%, information pills a private mortgage insurance will be charged until 20% of the loan is paid off.
2) Your Debt to income ratio must be less than 40%. (Debt to Income Ratio = Gross Income / total payments toward debt). Proof of income will be required (just send a copy of your recent pay stub).
3) Your credit history. A score of 720 or above favors you for a lower interest rate. A score between 675 to 720 means you don’t qualify for the best rate. A score below 620 means you fall in the subprime category, dosage meaning you will find it very difficult to find a home loan.
4) Employment history.
5) Loan to value (LTV). A LTV that is 80% or higher will make it very difficult for the borrower to qualify for a mortgage. LTV = Loan amount / Value of property.

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Question by : Do you have to have a down payment to take out a home loan?
Do you have to pay a down payment when you take out a home loan, viagra approved or can you take out the full amount of the home? For example: a house costs $ 900, this site 000. Can you take out a loan for $ 900, about it 000 without having to pay a down payment?

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Answer by My Take on It
Nowadays, you need a down payment. The very least would be 3.5% of the purchase price.
If someone can afford to buy a house that costs 900k, they better have the ability to put a down payment down! LOL Most banks don’t even lend that much anyways. Anything over I believe 417k is considered a jumbo loan and requires about 30% down.
So, no, you cannot buy a 900k house without a dog in the race here (down payment)

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Question by PB: refinancing mortgage?
i live in MA, side effects bought our house 3.5 years ago. I really need to refinance to save some money and put it towards bills and credit card debt. problem is, visit web we were an FHA loan, prostate and now since the crash, the standards have risen for a refi or even a new mortgage, and our credit has gone down a little, but our debt is now too high…

does anyone know of any programs, companies or banks in MA that will refinance you with very little money down, and possibly if youre credit is questionable???

thx

Best answer:

Answer by chatsplas
Go to current mortgage lender and ask about Making Home Affordable programs

Pay down that debt; rebuild your credit rating; STOP using credit cards. . . . .the days of 0% down and poor credit getting a home loan are gone, with the Crash. . . . . .
Get the Dave Ramsay books/tapes on personal money management, eliminating debt from bookstore or library and take control of your finances

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2 Comments

  1. Careful, there are scams out there.
    I see them in my mail. Such as pay $ 2,400 and we guarantee that we will re-finance you
    Call your mortgage comopany.
    The new regulations require a mortgage company to re-finance you if you qualify
    If you don’t qualify – no one can help you

  2. If you liked your Loan Officer you used when you bought, call her/him & see what you can do. You may be surprised to find you can refinance. Doesn’t cost anything to make a phone call.