Question by Indi: How to find out how much is still owed on a property in foreclosure?
Is this at all “public information”? There’s a house for sale that we are interested in & it’s a foreclosure. The deed holder is the FEDERAL NATIONAL MORTGAGE ASSOCIATION. (Fannie Mae)
The realtor does not know how much is left to pay on the property. Would like to know if I have any right to find out myself BEFORE making an offer……thanks!
Best answer:
Answer by falsi fiable
It’s not very hard to GUESSTIMATE. Find out the date and amount of the last sale and use a mortgage financial calculator to estimate the balance based on prevailing interest rates. This isn’t rocket science.
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Question by Shah: Where can I get the best mortgage rate with zero or low closing cost?
I am a first time home buyer. I wonder how I can get the best mortgage rate? I am not thinking about buying points or anything. Instead I want to reduce my cost on getting the loan. Is there any websites listing different mortgage rate from different mortgage companies?
Best answer:
Answer by Faheem
You may want to try fha-rates-today.com. They are based on the same idea that lenders will submit bids to compete for your business. However, sildenafil be aware that lenders don’t work for free and you are going to pay for a refinance whether you pay closing costs or whether the lender charges you a higher than market interest rate to get their compensation. There is really no such thing as a “no-cost” refinance.
A “no cost” mortgage can make a lot of sense if you aren’t planning on staying in the home long term. If you are planning on staying long term (maybe 5 years or more), treatment you might save more money in the long run by paying some closing costs and getting a lower rate. Just my two cents as someone in the industry.
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Question by TIM: How much can i be approved for a mortgage?
I currently make $ 50k a year. I have no debt, more about no car payments, adiposity no student loans. I have money saved for a down payment. What mortgage if any could i be approved for?
Best answer:
Answer by Pandas4me
you need to go to a bank and get pre-approved, nobody here can answer that.
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You have to go to a bank because each one of them has different criteria for a home loan.
Congratulations on having no debt or car payments and having saved up a down payment. Good start and any realtor’s dream buyer.
First of all, what monthly payment would be comfortable for you. Figure out a budget and don’t forget things like taxes, insurance, maintenance and there will also be PMI (payment mortgage insurance) unless you are putting 20% down. Your housing budget should not exceed 35% of your total monthly outlay. With today’s prices and low interest rates the house payment will probably not be any more than the rent you are currently paying, and you will get a tax write off.
Find a good lender to walk you through this so you will be looking in the right price range. There is no obligation and no charge for a lender to go over your finances with you and tell you what price range of home you will qualify for. Ask around for some referrals, either your local bank, or any realtors you know, or even local homeowners.
There is more information at and a mortgage calculator at:
http://www.porttownsendrealestatesearch.net/
Between $ 130k and 150K.
it is great for you but the next hurdle is your credit score. It must be 620 or higher. OR even if you have NO scores at all a manual underwrite will require alternative trade lines like rent history and utility bill history etc
Get with a mortgage professional in your state
with no debt as much as $ 175,000 depending on the tax and insurance rates where you live
I am a mortgage banker in TN