I have a mortgage on one home, can I get a second mortgage to pay for another house?
by marsmet526 Question by Scott: Refinancing 6 months old FHA mortgage? I bought a house 6 months ago and got 6% interest rate on 30 yr FHA. Watching the rates go down made me wonder if I can refinance. Since FHA is a government-backed mortgage loan I was wondering what the options were. I read something about FHA streamline refinance but didn’t really understand if that’s what I could do. How much are fees? My lender is US Bank thanks Best answer: Answer by Beverly SAn FHA streamline refinance is an excellent program. Since you are already on an FHA loan – FHA allows you to do a streamline refi which basically reduces your rate- Fees are minimal and can be included in the loan- there is no appraisal needed, site hospital no income docs needed and no credit check. The only requirement is that you have paid your mortgage/or rent (in your case 6 payment on mtg. & 6 months rent or mortgage where you lived before) on time with no 30 day lates. What do you think? Answer below! Verify out these castle pictures: Planet Castle (redone) Image by Blyzz I know I’ve uploaded this ahead of – but I wasn’t really content with it final time. There was blurring because the stitching wasn’t completed effectively. This time though , this site I’ve located a much much better stitching system (autopano). Creating on this fort-like castle began in 1666 and is therefore the oldest standing constructing in South Africa. Software employed: Autopano two Photoshop Gimp Photomatix Noisware Community Edition Explored: May 14, viagra 2009 #293 For more houses click right here… Question by TexasBound: I have a mortgage on one home, price can I get a second mortgage to pay for another house? I’m planning to relocate, price but current owe a mortgage for $ 50k. I also have a bankruptcy on my record thats a couple of years old. I’d like to find new home in the state I choose to live in. Would I be able to get a second mortgage or refinance my current home in order to pay for a new one? Best answer: Answer by lendingwhiz2008That depends on a few things. How much equity do you have in your current home? What is your credit score? What is your debt load? Yes you can get a 2nd mortgage on your current home to buy another, link people do it all the time. Your income must support maintaining your current home (you should be able to get a renter in there to offset the mortgage payment or some portion there of) and support your new mortgage. You can get a loan with a BK. Many lenders require it to be discharged for 2 years, however, there are still a few lenders that will lend on a BK only being discharged 1 day. In a nutshell, yes you can, if all your other ducks are in a row. Good luck Add your own answer in the...
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the destruction of Wamu But the majority of Washington Mutual problem loans were prime mortgages and home equity loans. Grind reports that 70% of the options ARM mortgages and 90% of the home equity loans were taken on the basis of “stated income” instead of … For more informaiton please visit here … Question by vixxen: FHA loans do not allow default on a Federal Loan.What if I pay off the loan prior to applying for FHA mortgage? Will I get the loan? I have about 10% down… Best answer: Answer by Jay CFirst of all, decease if you have a previous foreclosure(does not matter if it is FHA/VA/Conventional), information pills you MUST wait 3 years before you are eligible to apply for another FHA loan. This is the critera from the FHA itself. So if it has not been 3 years, I’m afraid you are not eligible for an FHA. Secondly, if it has been 3 years since the foreclosure, and if you HAVE perfect credit since, you may be APPROVED for another FHA. HOWEVER, FHA will TYPICALLY REQUIRE that any outstanding collection accounts be paid BEFORE being able to close on the loan. So whatever amount is showing on any collection(including your foreclosure), must still be paid before you can close. I wish I had better news for you but unfortunately this is the criteria for an FHA Give your answer to this question below! Question by sakof90s: FHA inspections – how fast can they be done? How fast can an FHA inspection for approval be completed? We are selling our condo and buying a house. We are in escrow in both processes. Of course we need to sell to get the down payment for the purchase. Today, sickness our agent called to see if the condo we are selling has been inspected and approved by the FHA. I’m not sure but it sounds like the buyer’s lender wants FHA backing. To our knowledge, website the condo has not previously been approved. We are locked in at a decent mortgage rate, ambulance but there is an expiration date for that lock-in. I don’t want to lose the rate and wonder how long it will take to have the FHA do their inspection of the condo and approve the backing. We live in So. Calif. Any advice would be greatly appreciated. Thank you. Best answer: Answer by boo76Typically if his/her buyer is doing an FHA loan, then the loan company that is doing it for them needs to send their own inspector over. It’s not up to you…the only time you get an inspection is if you wanted to certify that your home is somehow a good buy or something…like a “for the record” type thing…. If the buyer is doing an FHA loan, then the lender should be sending an inspector over anywhere from 30 days before the closing and up until about 2 weeks from the closing. When is your closing date for the buyer? If it is w/in the next 30 days expect someone to come inspect the home in the next few days to couple weeks… Hope that helps…. Give your answer to this question below! by elycefeliz Question by John L: low mortgage rates, order how long will they last? Since the bailout of Freddie Mae and Freddie Mac, viagra mortgage rates fell, correct? 1. Why? 2. How long will this last? I’m looking to buy a house within the next two months, and I don’t want to miss the low rates. Best answer: Answer by Howard LMortgage rates have dropped a bit...
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Question by That’s what who said?: What would be the best loan option? I am buying a home. I will put down an offer for $ 65, order visit this 000. I make $ 30, visit this site stuff 000 a year and have $ 19, cost 000 saved up towards the home. I have a credit score of 725. I was planning on getting a 15 yr mortgage, and putting 20% down, basically because I want as little debt as possible. Today, I was talking with someone who recommended putting down as little as possible (FHA 3% even) and taking out a 30 year mortgage. He said I could use the money I would have otherwise spent on the 15yr, 20% down mortgage to invest, thus making more money than i will pay extra in interest. While his thinking made sense, I just can’t be comfortable with that much debt. I am familiar with other forms of investing. He also reminded me most 30yr mortgages let you pay more than your principle. It just seems like a better idea to get the best interest rate possible (about 4.7% for a 15yr, as opposed to 5.1% for a 30 yr). With the 20% down I would also avoid mortgage insurance. I know i CAN afford the 15yr, 20% down payment, but should I go this route? Thank you! Best answer: Answer by R. GuetiveGo for the 15 year loan. You actually pay less for the home cuz you’re not paying all that interest. I wonder if lender’s are making some kind of commission on the loan and that’s why they encourage to take out large loans. Know better? Leave your own answer in the comments! Some cool condominium images: Condominiums At Kota Kinabalu Image by thienzieyung Nowadays I went up to the 6th floor of Lintas Station to get some views from above. One fascinating view from there these days was the view of a few condominiums situated about Sunny Garden region. In the distance you can see The Peak Condo. On the appropriate is Puteri Damai Condo and on the left (under construction) is Alam Damai Condo. It would be amazing to get the views from these condominiums! If you would like to see much more houses click here… Dearborn Park High-rise Condominiums Image by UIC Digital Collections Title: Dearborn Park High-rise Condominiums Variant Title: Dearborn Park, try Constructing I Creator: Gordon & Levin Description: View of the newly constructed Dearborn Park I high-rise condominium constructing (899 South Plymouth Court), viagra buy one of two high-rise buildings in this complex. A big sign for the development’s sales office is in the foreground of the photograph. Photograph credit: Brubaker, C. William, 1980 Date: 1980 (Dearborn Park Apartments) Geographic coverage: Loop (Chicago, Ill.) Collection: C. William Brubaker Collection (University of Illinois at Chicago) Repository: University of Illinois at Chicago. Library. [Visual Resources]. Credit Line: Cite as [creator]. [title]. [file name]. [collection]. Rights: University of Illinois at Chicago College of Architecture and the Arts holds reproduction and licensing rights. File Name: bru010_05_eF For more images from the collection, pay a visit to collections.carli.illinois.edu/cdm4/index_uic_bru.php?CIS… Click here to take the Library’s survey on its Flickr collections. If you would like to see more homes click right here… Five Condominiums In Kota Kinabalu, Malaysia Image by thienzieyung Condominiums are coming up quite swiftly in the city of Kota Kinabalu, and a element of them are concentrated in Likas, largely high end ones. I headed to Bersatu Road close to QEH 2 in the morning to photograph them. From the left: Bayshore Condo Phases 1...
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Question by catchi: home foreclosure HELP where do we go and how do we start refinancing? Wasn’t the bailout suppose to help homeowners refinance if they were facing foreclosure? How? Was there any agency or website to go to in order to start the process? Best answer: Answer by tkahrs12122No the bailout did not include help for delinquent homeowners. You need to deal with the refinancing on your own. Start with your current mortgage holder and see if the will lower the interest. What do you think? Answer below! Question by TD: What would be the best possible Home Loan I could get buying a co-op? I heard that you cant use the nothing down or 3% mortgages on a co-op purchase. Is this true I live in NY. WOuld I hav eto put down 10% no matter what. Also FYI Most one bedroom co-op go for atleast $ 130, hospital 000, and 10% of that is 13,000 and the HUD and FHA mortgage and program say that they can only give you 3% or 5,000 down. Best answer: Answer by Blue Octoberthe best possible home loan is going to depend on your credit. i want to suggest that you speak with your local banks…they know you the best, and they are local -in case you need them in the future. I am sure you are aware of the large amount of foreclosures across the nation. This lends itself to the way that banks and lenders are now doing business. The days of nothing or very little down are almost gone. You will need to come up with a min of 20% down and stick with a 30 years fixed no prepay penalty loan. Do not accept or get into any creative financing or ARMs (adjustable Rate Mortgages)…these loans have a high failure rate to foreclosures. stick with your local banks…good luck on your purchase 🙂 Give your answer to this question below! by eyewashdesign: A. Golden Question by anpresco: What factors do lenders consider when applying for a home loan? My boyfriend and I are applying for a home loan. The loan officer wants to use both of our credit and financial info for the application. I have both the better credit and longer employment history, seek but need my boyfriend’s additional income to qualify for the amount we need to purchase a home. Will his less than established credit hurt us, treat or will it not matter? Best answer: Answer by Beverly SYour loan officer makes the decision based on what you need to qualify. Most likely you won’t qualify with just one income. The fact that his credit is less established won’t hurt him as long as its not “bad”. Lenders are looking for 2 years steady employment, order 2 years good credit, & property of enough value & re-salability in case of problems. Sounds like you need him (boyfriend) & he’s gonna help not hurt. Add your own answer in the comments! Mortgage Rates : For The Week Ahead, view Lock Or Float? The Ginnie Mae (GNMA) 3.0% 30-year coupon finished better last week, symptoms too, viagra 60mg moving +17/32. Ginnie Mae mortgage bonds are linked to FHA and VA mortgages so mortgage rates for the FHA Streamline Refinance and VA IRRRL mortgage programs fell last … For more informaiton please visit here… Why is the FHA Streamline Refinance So Popular? 28, 2012 — /PRNewswire-iReach/ — Record low mortgage rates have encouraged many Americans to refinance their mortgage this year, and the most popular option by far has been the Federal Housing Administration's (FHA) Streamline...
Read MoreCan I refinance an FHA loan at a fixed rate without getting another FHA loan?
by eyewashdesign: A. Golden Question by krayz: do you have income with a reverse mortgage loan? I’m having trouble finding the law that states the answers for these. I’m only looking for the law that will answer my questions. When I take my monthly draw from the bank from my reverse mortgage loan is that considered income? Also can I deduct the interest when it is added to the outstanding loan balance each month. Best answer: Answer by FreakOfNature2000Yes you get a monthly income based on your situation but its a big rip off. Don’t do it. Give your answer to this question below! Question by The Mace: I’m trying to get a hold of someone at Chase Home Finance that deals with problems.? I’m trying to solidify my loan w/Chase Home Finance but they farm out the jobs to third world countries (Philippines). I’m always put on hold or the call is disconnected. I cannot get a hold of anyone that can help in the US and it’s getting really frustrating. Can someone provide an email address, more about of Chase Home Finance folks (professionals hopefully), this web that I can talk to or someone who can actually look into or solve my pay-off problem? Best answer: Answer by DavidSo is everyone else. That is why you shouldn’t use chase. Give your answer to this question below! Verify out these chateau photos: Château de Chenonceau Image by roger4336 Château de Chenonceau was constructed in 1515-1521. It was built across the Cher River, page east of Tours. It fell into the hands of the French crown. King Henri II gave it to his mistress, viagra approved Diane de Poitiers. Immediately after Henr1’s death in 1959, his widow, Catherine de Medici, took the chateau. Each of these ladies designed a significant garden, which nonetheless has her name. Chenonceau has been owned since 1913 by the Menier family members, which is recognized for chocolates. The chateau is called Chenonceau, but the nearby village is Chenonceaux. For a lot more residences click here… Chateau de la Beuvriere Image by Kentishman Chateau de la Beuvriere, St Hilaire de Court, Cher, France If you would like to see far more properties click right here… Château fort Image by ManuB. Château d’Anjony, à proximité du village de Tournemire. Ce château a été bâti au 15e siècle et est typique des petites forteresses de montagne de cette époque. For much more houses click here… Question by **4-22-2010**: Will home interest rates go back down or are the going to continue rising? Want to refinance my home, visit this site Wondering if I should wait a little bit, more about or do it now before they really start to climb back up. Best answer: Answer by JohnThey’re going to continue to rise, so if you’re looking to refinance you should try to do it now (though if your house doesn’t appraise for what you owe on it, you *may* not be able to) Add your own answer in the comments! FHA Streamline Refinance : Basic Qualification Requirements FHA mortgage rates are making new, price all-time lows while — at the same time — FHA mortgage insurance premiums (MIP) are gearing up for an increase. … Especially those in high closing cost states such as New York, thumb Texas and Pennsylvania. Get FHA … If you would like more informaiton please visit here… by KKfromBB Question by Satan Lives! God must Die: Can you buy a home with crappy credit? I want to buy a home but my credit and wifes credit is bad my credit score is...
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