What is the FHA way to calculate rental income?

Posted on Oct 11, 2012 in FHA Information

Question by Sea: How can you refinance you home when your underwater by 100k?
And the mortgage company has denied the Obama refinance?

Best answer:

Answer by Rick B
You can’t. You will have to stick to your original agreement.

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Question by Alutiiq Beauty: If Citibank files for bankruptcy, order because that is the news going around the banks, what about mortgage holders?
CitiBank is one of the largest mortgage holders for America, what is going to happen to all the people who owe money for the mortgages on a home? What do you think? Honest opinions/knowlage please

Best answer:

Answer by JoJo31
With the current Home Mortgage situation the Government will take over the bank and you will pay your mortgage to them or one of their entities. No way are you going to get out of paying your mortgage.

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Question by joey: is it possible to obtain a down home loan if you have good credit but no down payment? Ca 1st time buyer?
I make good money and have very stable employment, viagra order but in California it is still very difficult to obtain a down payment on a home. I hear that Ameridream is a possibility? Does anyone know? thanks.

Best answer:

Answer by v b
The only way to have a down payment is to spend less than you make and save the difference.

After the current meltdown, no bank is going to loan you this much money based on your salary.

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by Rajesh_India

Question by lekitoa: What is the FHA way to calculate rental income?
What is the FHA way or formula to calculate rental income on a property which has a negative amortization loan. Borrower is purchasing a SFR, more about but will rent out her current three unit property of which 2 units are already rented. The rent of the vacated unit will be potential.

need help to find out FHA way to calculate for her rental income.

Best answer:

Answer by Lisa L
Rule of thumb is 75%. Unless she has a valid lease, approved use the same rent that the 2 units bring in. Add the 3, take 75% & see if it is negative or positive in relation to the payment. If negative it will be counted against her as a debt. Don’t be surprised if they as for tax returns to look at the real estate schedule.

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