Question by slov72: how much does it cost to refinance in closing costs?
My mortgage currently has my name, visit case my wife’s name and my father-in-laws name on it. I would like to know how much should it cost to refinance in oder to get only my father-in-laws name on the mortgage and title. It is an FHA loan with about 6.3% and 167000 outstanding.
does it make a difference if this would not be his primary residence?
Best answer:
Answer by golferwhoworks
not too much as this is a streamline refi without an appraisal
I am a mortgage banker in TN & KY
What do you think? Answer below!
Question by Jack: Any US bank would make a mortgage loan to a borrower with income from outside the US?
Any US bank would make a mortgage loan to a borrower whose income is from outside the US?
I am trying to refinance my existing mortgage on a house in the US. But my income is currently from outside the US. Does anyone know any US bank that would make such a loan to me? Thanks.
Best answer:
Answer by A D
I believe that this type of mortgage loan is possible, stomach maybe a bit more trouble.
I would suggest that you check with a mortgage broker who can “shop” the loan to different lenders. You might also want to check with larger banks that have business relationships w/banks in the country where your earnings come from.
If you are a US citizen and are working outside the US for a US company, ed you shouldn’t have a problem.
But, I would suggest that you check with a mortgage broker. If you are currently outside the US, but have a relationship with a US bank, you might start there.
Add your own answer in the comments!
Mortgage loan is a term used for the loans secured by a property. Mortgage loans refer to a loan secured by residential property, often for the purpose of securing real estate. Mortgage loans are priced lower than other loan structures because the value of the property risk for the lender.
http://www.worldbestloans.com/Mortgage%20Loan.htm
A fixed rate mortgage loan has its own benefit. If the borrower is budget conscious, he will remain at peace because the monthly mortgage amount will not change.Fixed rate mortgage loan is a loan where the interest rate remains the same through the term of the loan. Fixed rate mortgage loans are the most traditional form of loan.
Most mortgage banks will consider foreign income as long as it is well-documented. They will require the figures be converted to US dollars for underwriting purposes using current exchange rates. The property would have to be located in the United States. Also, expect the bank to make you jump through a hoop or two to make them comfortable with your loan. Mortgage banks are more suspect of unusual or uncommon circumstances than ever before.