A few nice apartment building photos I found:
0804 | French Apartment Building | 2009 | East Side
Image by Facility Records | MSU Physical Plant
0804 | French Apartment Creating | 2009 | East Side
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Many Find Mortgage Refinancing Difficult
The Home Affordable Refinance Program (HARP) was supposed to make refinancing easier for millions of struggling homeowners, health but as many have found the HARP rules are structured in a way that makes it hard for borrowers to shop for better deals. It also …
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No signs of HARP burnout
The resilience in Home Affordable Refinance Program speeds defies recent talk of a burnout, page said analysts at Bank of America… » New lending rules could dampen Florida's housing recovery. A new set of tighter mortgage rules designed to prevent the …
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Question by BuzzBee: Can property lease payments be added back to cash flow in a commercial mortgage?
If an established business exists on a leased property (and will be moving into the new property after closing), and can the lease payments be added back to the cash flow when determining the approval amount for loan?
I will not renew my lease if I can find a nice piece of commercial property.
I dont understand why not. To me it is like telling a renter interested in purchasing a home that their qualifying amount is based on their income AFTER they pay their rent. It doesnt make sense. The only difference is that the business owner can take that expense off their taxes.
Best answer:
Answer by Your #1 fan
No. Anything a lesse pays goes to the owner. You receive no benefit from it as the tenant. Maybe less tax as it is a business expense.
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Obama Makes Renewed Push for Lower Rates on Refinancing
The Responsible Homeowners Act of 2013 would improve upon the government's current Home Affordable Refinance Program (HARP) by eliminating appraisal costs, visit this site reducing upfront fees on refinances, viagra ensuring consistent standards for all lenders and providing …
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Question by Jen M: We are looking for a lender who will finance on an FHA Streamlined 203K for purchase with a 580+ FICO.?
We are currently preapproved for a traditional FHA loan, adiposity but the lender will not approve a Streamlined 203K with our credit score. Please don’t say find a different house. We simply want to know if anyone is aware of a lender who will finance the Streamlined 203k with a 580.
Best answer:
Answer by golferwhoworks
no not now as you will need with most on a 203K streamline either purchase or refinance at least a 600 and with most a 620 score. You must work on that first. sorry not many will even do these loans
If you do get one the rate will be Veryy high on this loan as the lender will charge more like 1.5%-2% over par because they are having a hard time securing these loans on the secondary market
I am a mortgage banker in TN & KY
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Question by mom2abigsis: We are preapproved for a home loan and have a credit card question?
Okay, this so we have gone through the process to buy a home…preapproved through a bank for a mortgage loan, found a home, did the offer, and the inspection was just finished Friday. Our closing day is June 20th and in the beginning of May we went on vacation and fixed something where we currently live that used our credit limit of $ 1000. Our realtor said the next credit check the bank will do will be 24 hours prior to closing. Will the credit card keep our loan from going through?
Yes, this is our only credit card.
Best answer:
Answer by nathan p
Hopefully not! Your realtor may not be correct about that credit check. I have closed over 450 loans in the past, and I have never pulled an additional credit report 24 hours prior to close. Typically, once your lender has your credit report, they would only need a new one if 120 days pass or if a borrower is added to or removed from the loan.
Additionally, this $ 1000 credit card may not have reported at all yet. Even if it did, the payment on the credit card is very likely too small to impact your qualifications. That said, if you were only 1 or 2 points in your credit score away from not qualifying, you may have reduced your score enough to no longer qualify. Your lender representative should have advised you against making any additional purchases before closing just to be safe, but I think you are probably at very little risk of losing your loan. Opening or using a single, $ 1000 credit card is not a very large change in the scheme of things. If you went and purchased an expensive car with a $ 800 payment that would be a very different situation. But for now I think you can relax. Remember- worry is interest paid on a problem before it is due!
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The generally accepted margin that the lender will look at in regards to your current credit standings is 80%. That 80% means that if your credit cards and other financial burdens are above 80% of their limit, it is damaging against your credit score as you apply to get the house.
If the debt on the credit card is only $ 1000, it shouldn’t be a big deal for you to pay off enough of it. Also, if this is your only major debt that you owe to, and the rest of your credit is in good shape, you’ll be fine.
i dont know, it depends if u pay it late.. just make the minimum monthly payment and u shouldnt have any problems.
Actually very few lenders would re-run your credit report the day before closing. My guess is that your agent told you that to scare you into not screwing up his commission by going out and applying for a new $ 5000 credit card at your local Furniture Barn.
Assuming you already had that credit card, you’ve got nothing to disclose. It’s generally understood that people use their cards. Opening a new one should be disclosed, though.
Also, credit reports are often 30-60 days behind on their information.
Plus, $ 1000 on a credit card translates into only $ 20-30/mo. as a minimum payment on most cards. If your deal is so tight that another $ 30 added to your debts screws up your qualifying, you should be more worried about your ability to repay the loan than if you can even get the loan in the first place.