Some cool huge property pictures:
The Huge Residence – master
Image by Maigh
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Shorter-Term Mortgages Can Help Rekindle Homebuying – Responsibly
Historically, health homeownership was the vehicle by which millions of Americans built equity and wealth while contributing to the growth and development of strong, website like this stable communities. Regrettably, ailment over the last 20-some years housing has become less of a …
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QM Cements the Sorry State of Mortgages for Years to Come
The Consumer Financial Protection Bureau's much anticipated final Qualified Mortgage rule confirms much of the "pre-game" hype from industry observers. It effectively locks the mortgage market into the current state of underwriting conditions for years …
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Question by Mike: What company is the best to get a mortgage for a first time home buyer?
I don’t like or trust bank but i looking to find out what are the best companies to get a mortgage for buying our first home.
Best answer:
Answer by BigD
Depending on your credit and downpayment situation, treat you’d probably want to look for a lender that offers FHA mortgages. FHA mortgages issed by lenders and insured by the Federal Housing Adminstration. You only need 3.5% down and lenders are more forgiving when it comes to FHA mortgages because they are federally backed.
Add your own answer in the comments!
Some cool mansion images:
Mansion Property station
Image by Kake Pugh
Mansion Residence, erectile a zone 1 Tube station on the District and Circle lines. Quite really challenging to get a nice photo of.
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Question by ltrede06: What are the chances of getting a home loan with really bad credit??
I have really bad credit and I wanted to purchace a home and pay off some credit cards. Is there any hope for me?? I am also a single mom so finances are somewhat tight? Is there any low income options for loans?
And where do you get these loans?
Best answer:
Answer by Mike S
You can probably get a loan, viagra dosage but you will end up getting a really high interest rate. You should wait a year or two and repair your credit. You’ll be able to get a more favorable loan.
Add your own answer in the comments!
Tough to say. How much money do you have for a down payment?
I just got a call from one of my Account Executives. For loans with bad credit, pretty much all lenders have tightened up their guidelines, or are going to tighten them up within the next few days. Getting financing for purchases is going to be a lot harder now, and unless you have enough money down, you will be hard pressed to find a loan, depending on what you mean by “really bad credit”.
look up the housing finance agency for your state. Call them and ask for help. They can help get you into any grant or subsidies you might be eligible for. A low income single mother fits their bill just fine.
Plan on working with their bank to fix your credit for a while first. The loan officers who work with the finance agencies should be willing and able to help guide you into a position where your credit gets you the nice low subsidy rates, instead of going to some random broker and getting stuck with a high rate loan you can’t afford.
Take your time, take their advice, and good luck.
it depends on just how bad your credit really is….mortgage companies go by your credit score to decide whom to lend money to, and on what terms.
Do you have a down payment? If not, you may find it difficult to get a 100% loan….one option would be to contact a mortage broker (or a few) and ask some questions about FHA programs and/or home buyer assistance programs.
Whatever you choose to do, make sure you don’t allow tons of different companies to pull your credit…this will only eventually add to lowering your score….and more than likely you will get the same answer most places. The scores that banks will accept are pretty much the same everywhere. Take the time to call a couple places and ask questions, one of which should be if they will HELP you repair your credit.
IF…after speaking to some loan officers and discovering that you can NOT purchase a home at this time, consider contacting a non-profit credit agency, such as Care One, and consolidate all the debt you have into a credit management program. It will help you get your bills paid off quicker, and at lower interest rates, and establish a reliable pay history again. Once you complete/drop out of the program, it will drop off your credit report in about 30 days, and not affect you negatively.
It all depends on just how bad your credit is. If you are talking a credit score around 450-550 you will have serious problems and even if you get approved are better off renting. If you are bewteen 550-620 you would probably get approved but have to pay higher rates. 620 plus can get you approved for near prime loans most places these days. Remember that just having debt by itself does not give you bad credit, its all how timely you have paid bills and how you have managed your cards over the years.
Take my advice and dont buy until your score gets over at least 575. In this market you will never end up making any money because your interest rates will just be to high.