FHA Mortgage
Seeking A 100%-financing Mortage That Relies On Income Level; Is My Current Salary The Determining Factor?
Lenders (through Fannie Mae or FHA or whatever) offer 100% (no downpayment) mortgages when your income is below the median for your county. My income had been below this level until a month ago. I’ve gotten a raise, but my income is now above that threshold. I know lenders want to see your W-2s. [...]
First Time Homebuyer In Upstate Ny, Need Downpayment & Closing Cost Help?
My wife and I are trying to buy our first house. We have been approved for a FHA loan. Our savings are drained, my wife has been on bedrest from a high risk pregnancy for the last 6 months and not collecting a paycheck. Our credit is excellent the mortgage payment wont be [...]
Shouid Get Rid Of, My Realestate Agent Or, My Lender Or, Neither?
My real estate guy put in a little below asking price for the current house I’m trying for. My mortgage guys FHA appraiser, appraised thousands, below. The sellers real estate person put the price way above value? Who is at fault if I don’t get this house? Do I have any recourse as a buyer?
My Fiance And I Are Trying To Buy A House. I Have A Fair Credit Score At 680. She Has A Near Perfect Credit.?
What should we do in terms of the mortgage? I have been told that we would have to pay many “points’ if we co-signed on a conventional loan. I have also been told that FHA may be the way to go. What is the best path here? The one thing we do [...]
Is It Worth It To Get My Home Refinanced?
I keep getting letters in the mail offering to refinance my home. I have 6.0% interest and have owned my home for two years. Currently, my mortgage payment (FHA) is $1206.87, which includes $67 per month Mortgage Insurance Premium, real estate taxes, homeowner’s insurance, etc. The letters I keep getting claim that I would be [...]
If The Economy Doesn’t Recover By The End Of 2009, What Will Be Obama’s Next Move?
(If you think Obama is fixing anything, feel free to star this question so you can come back in a few months)
Since at that point it will be blatantly obvious that the “stimulus” bill was pork after all. The TARP program will have had enough time to expose itself as being the equivalent of burning [...]
What Is Happening To First Mortgages That Are Interest Only? ?
Has FHA begun to refiance interest only loans?
Is It Possible The U.s. Federal Govt. Is Creating Its Own Subprime-esque Bubble That Will Burst?
http://online.wsj.com/article_email/SB12…
Everyone knows how loose mortgage underwriting led to the go-go days of multitrillion-dollar subprime lending. What isn’t well known is that a parallel subprime market has emerged over the past year — all made possible by the Federal Housing Administration. This also won’t end happily for taxpayers or the housing market.
Last year banks issued $180 [...]
First Time Home Buyer Needs Advice?
My husband and I want to buy a house, we would be first time home buyers and his credit is a 620 with no credit references. We’ve heard of FHA, HUD and rural development home loans, what would be the best way to go. Also mortgage brokers vs loan officers? We know we want a [...]
How Does This Hud Payback Work?
In 1998 I bought my first condo… My mom was tha co-signer. With about six thousand I got my condo. My previous band was oldkent mortgage located in Cincinatti. In 2000 they merged to 5th3rd bank. Two years ago I refinance and paid of the loan. FHA-or HUD send me a [...]
