FHA mortgage loan after 2 years from a short sale and bankruptcy?
Question by thebrock1584: Eligible repairs under an FHA 203k loan? Can someone direct me to a list of eligible repairs that an FHA 203k Mortgage loan covers. We want to but a fixer upper but need to know what repairs are covered. Thank you We live and want to buy in Oswego county NY if that makes a difference. Best answer: Answer by Terry SociaAll the repairs necessary to get it into livable condition if the repairs don’t drive the price up to over 96.5% of it’s value and sometimes it is 80% of it’s value. Check with the lender on this percentage Know better? Leave your own answer in the comments! Question by green: What banks/mortgage lenders still offer ‘no income verification loans’ (NIV) or ‘stated income loans’? use to be know as ‘no doc loans’ –looking for a home mortgage loan –I know that these types of loans require a higher down payment, sildenafil (like more than 20%) and come with higher interest rates, –I’m self employed and would like to know if I can qualify for a mortgage without waiting 2 yrs for tax returns Best answer: Answer by golferwhoworksconforming but only to a 75% loan on the sales price and with a 720 or higher score Know better? Leave your own answer in the comments! Question by lorddog: FHA mortgage loan after 2 years from a short sale and bankruptcy? can i get a FHA mortgage loan after 2 years from a short sale and bankruptcy 7? i have a hardship letter because of unemployment. anyhow, viagra dosage mi homes financial is giving me a go ahead to build a house and close at the 2 year mark. brokers told me banks are requiring 3 years to do a loan. is mi homes gonna take my deposit ($ 12k) and when it gets to the 2 year mark say “oh your not approved?” and keep my deposit? is mi homes financial the bank or do they send it off to a big bank (who wont approve it)? no i have work history – its just back 3-5 years ago when all of this started i was unemployed for a few times. i have work history of 3 years in dec 2012 when this closing is scheduled Best answer: Answer by Go with the flowYou have to be fully employed for 2 years to qualify for a mortgage, with tax returns to verify your steady income. Did you know it costs about 25% to 35% to build a home than to buy one in today’s market? Why on earth would you want to build? You could buy a $ 100,000 home vs. building one that costs$ 135,000. Stop and think about this for just one minute. What kind of scam comany called you. Time to kick them to the curb. Know better? Leave your own answer in the...
Read MoreLastest Fha Mortgage After Bankruptcy News
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Read MoreQ&A: How many years do I have to wait to get a mortgage after filing chapter 7 bankruptcy, according to FHA?
by Chris Pederick 30 Day Payday Loans – Help You Sort Out All Financial Dilemmas Timely Article by Ian Frazer For more informaiton please visit here… Question by lex: How many years do I have to wait to get a mortgage after filing chapter 7 bankruptcy, thumb according to FHA? Best answer: Answer by PooPooLaTrashFrom this page: http://www.fha-home-loans.com/ Q. How long after a bankruptcy can I use a FHA loans for buying a home or mortgage refinance? A. You may buy a home or do a refinance mortgage using FHA loans two years after the date of discharge for a bankruptcy, assuming that you have maintained perfect credit since the discharge of the bankruptcy with a FHA streamline refinance loan. Note that it says “two years after the date of discharge”, not the date of filing. What do you think? Answer...
Read MoreGetting an FHA loan after bankruptcy if no proof of rent/mortgage payments?
Question by Jay: Who has the best home loan interest rate for right now? Who has the best home loan interest rate for right now? Please provide websites if you have them. Best answer: Answer by LillianBest home loans are easy to get if you know where to look. Home loans with low interest rates can make a sizeable difference in your savings, approved information pills both on a long term and short term basis. However in order to get the best interest rate on your new home loan, remedy sale you need to follow some tips. http://www.worldbestloans.com/homeloans.htm A sure-fire way to finding some of the best home loans rate is by comparing between 3-4 different lenders prior to deciding who to opt for. While most lenders have a wide range of interest rates and schemes, those who offer flexibility in terms and conditions or can customize to your preferences can work the best for you. Give your answer to this question below! Question by SadToday22: Getting an FHA loan after bankruptcy if no proof of rent/mortgage payments? My husband and I filed bankruptcy just over 2 years ago and have not acquired any new debt since. We re-affirmed our cars, more about which we have been actually paying ahead on and paid one off early. Here is my question: Our house was included in our bankruptcy and was ONLY in my name, this yet we still live here because I make a payment every month but are told they could kick us out pretty much anytime (the loan is 60 days past due, try they said they will kick us out at 120 days most likely) but we cannot afford to live here anymore and my $ 120,000 house is now worth MAYBE $ 40,000. ANYWAY, I have student loan debt up the wazoo until I finish med school but my husband has NONE besides $ 3000 left on a car loan that I have with him and he has a 690 credit score and excellent income. So we are planning on putting a new house in his name and It sounds like he should be able to be approved for an FHA mortgage but wondered if it’s going to be a problem because technically he does not pay a house payment or rent? I pay it and it’s 100% in my name only. Other than that, we/he has sufficient down payment funds and obviously the credit they are looking for. I’m just afraid this not paying rent/mortgage is going to give us a hiccup. Best answer: Answer by falsi fiableNot likely. The bankruptcy will make it impossible to get a new mortgage for well over 2 years. Give your answer to this question...
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Question by ohio_state98: Where can I find out current home mortgage rates for my area? Does anyone know where I can find out the current mortgage rate averages for my geographic area? I’m looking at possibly refinancing and want to know if it would be worthwhile. Also, advice stomach can I expect any costs when trying to refinance? Best answer: Answer by orlandomortgagebrokerAll over ONLINE. The only problem is, medical that you don’t get that rate until you lock it, or you have a honest mortgage broker on your side, which might be willing to lose on the Yield Spread if he doesn’t lock it, if rates happen to go up, from the day you were quoted on Good faith Estimate. The minute you’re quoted a rate you like to proceed with, instruct lender or broker to lock, and provide form that states the fact and that their committed to lend at that rate. When lenders “lock”, they commit to lend at a specified interest rate and points, provided the loan is closed within a specified “lock period”. (Points are an upfront charge expressed as a percent of the loan amount). For example, a lender agrees to lock a 30-year fixed-rate mortgage of $ 200,000 at 7.5% and 1 point for 30 days. A lock is contingent on the borrower meeting the lender’s underwriting requirements for the loan. The need for locking arises out of two special features of the home loan market: volatility and process delays. Volatility means that rates and points are reset each day, and sometimes within the day. Process delays refer to the lag between the time when the terms of the loan are negotiated, and the time when the loan is closed and funds disbursed. If prices are stable, locking isn’t needed even if there are process delays. If there are no process delays, locking isn’t needed even if prices are volatile. It is the combination of volatility and process delays that creates the need for locking. For example, Smith is shopping for a loan on June 5 for a house purchase scheduled to close July 15. Smith is comfortable with the rates and points quoted on June 5, but a rate increase of 1/2% within the following 40 days could make the house unaffordable, and Smith doesn’t want to take that risk. Smith wants a lock, and lenders competing for Smith’s loan will offer it. If locks were equally binding on lender and borrower, locks would not cost the borrower anything. While lenders would lose when interest rates rose during the lock period, they would profit when interest rates fell. Over a large number of customers they would break even. In reality, however, borrowers are not as committed as lenders. The number of deals that don’t close, known as “fallout”, increases during periods of falling rates, when borrowers find they can do better by starting the process anew with another lender. Fallout declines during periods of rising rates. This means that locking imposes a cost on lenders, which they in turn pass on to borrowers. The cost is included in the points quoted to borrowers, which are higher for longer lock periods. The lender who quoted 7.5% and 1 point for a 30-day lock, for example, might charge 1.125-1.25 points for a 60-day lock. Years ago, lenders controlled lock costs by requiring borrowers to pay a commitment fee in cash. The fee was returned to them at closing but forfeited if they walked from the deal. But today, commitment fees have mostly died out. Borrowers don’t like them, and lenders and mortgage brokers...
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