Posts Tagged "combined"

How to get a high enough home loan with little income combined?

on Nov 28, 2012 in Stated Income Loans | 3 comments

Question by Superman: Can someone go to jail for lying on a credit application for a car loan? I know someone who purchased a new car from a dealorship but lied about the ammount of money she was making per month. She is just starting a new job and has not recieved her first check yet. The dealership told her she was approved before seeing her income verification and let her drive home with the car. He later told her that he needed a check stub “for his file” to process everything (even though he had earlier said that she had been approved the loan) and she does not have one to give him. Can she go to jail for this? Best answer: Answer by Frank CastleYes. Add your own answer in the comments! by eyewashdesign: A. Golden Question by um yeah: How to get a high enough home loan with little income combined? My sister and I are trying to get a home loan that is pretty high, buy more about being that we live here in Hawaii. We have a good credit score and a very decent down payment. I was wondering if we combined other peoples income with ours, would it be possible that there name not be on the title? Best answer: Answer by starrfyrreAnyone who’s income is used is on the mortgage and the title. If you have five incomes from five different people, five people would be on the mortgage and five people would be on the title. Know better? Leave your own answer in the comments! How to get a high enough home loan with little income...

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Is it true that closing costs cannot be combined into an FHA loan?

on Nov 4, 2012 in FHA Information | 2 comments

A handful of good castle photos I located: Castle Measures, no rx site Gibraltar Image by David Stanley The Castle Actions in Gibraltar’s old upper town. If you would like to see much more houses click right here… Question by missbiz85: Is it true that closing costs cannot be combined into an FHA loan? My boyfriend and I are first time home buyers and are going to be purchasing a home with an FHA loan. Our mortgage broker said that the closing costs cannot be rolled into the loan because it’s an FHA. I couldn’t find anything that said that on the FHA website. I was hoping someone might have a little insight into what he’s talking about. Best answer: Answer by ibu guruOfficially, discount you need a minimum of 3.5% down plus closing costs to qualify for an FHA loan. However, advice FHA is in dire financial straits, purchase and we are not seeing FHA or other mortgages (even if approved) actually getting funded by closing. They seem to be developing “last-minute hitches” at a rather alarming rate. 1. Never buy property with an unrelated party. You are asking for trouble – very expensive trouble. 2. You need 20% down, plus closing costs, plus 3 – 6 months of reserves, plus credit score over 700, plus at least 3 years track record on the job to have a prayer of getting a mortgage and actually getting funded by closing. 3. Prices are still dropping! Plus subprime was only a preview of coming attractions. Foreclosures are now expanding into Alt-A, Option ARM, prime and jumbo prime markets. Resets and recasts of interest rates don’t peak until 2011-2012, which means accelerating foreclosures until 2012-2013. You and your bf should not even be thinking about homebuying at present. If you marry, then you might start thinking about it – as long as you have the cash saved up and very secure job prospects. Give your answer to this question below! Is it true that closing costs cannot be combined into an FHA...

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