Prince§§ of µnί©orn waΨ asked:


hey, i have a credit score of 750, I want to know how high my interest rate would be for a home loan of about $80,000. I can check mortgage calculators for how much payments will be, but only if i fill in the interst rate, i just want to know a realistic guess about what that might be!

IRWIN

Joey T asked:


I’ve recently purchased my parents home in order to free up income for them so they can live a better lifestyle and have more “throw” away income later in their life.

My situation is this: I refi’d their home instead of getting a traditional mortgage with a rate of 6.35ish in Sept. I am set up on a 20yr bi-weekly payment which should pay off in 17 years without putting any additional monies onto each payment (thank you to one of my friends for giving me that information about the bi-weekly payments. Saving 3 years right off the bat was very awesome…).

With the rates going so low lately should I consider refinancing in order to lower payments and/or timeframe of the loan?

RAY

babieyig asked:


just wondering..because just recently i applied for a loan there and gotten approved and was ready to buy a home but at the last minute my loan officer told me that i wasn’t approved anymore…he had no excuse and then told me he could refer me to another mortgage that could maybe help me…the other mortgage did approve me but it was about 1.25 more of the interest rate…i just don’t want to trust them…
my score is 721..

MASON

Sara asked:


I am in the process of buying my 1st home. What I dont understand is that the mortgage company is charging more interest than the borrowing amount but the interest rate is what I see advertised everywhere in my area?? When I calculate the interest on the loan it is completely different from what they are telling me. Is it normal to pay more interest on a home loan?? Or what is normal?
Right now if I go with this loan it is like I am paying for two houses or an amount that I would have never considered on a home before because it would seem out of my range. I dont get all this so any help is very much appreciated. I would love to think I am making a good choice if it is…..I really like this home.

ARRON

child_n_light asked:


I am planning on leaving my job for another after the 13 of July but we are in the middle of buying a home and I don’t want to give the mortgage loan officers a reason to question if we can afford it ( WE CAN). Can I put in my resignation now to give two weeks notice or should I wait until after we close in case the mortgage people check my status. Do they do that?

CLEMENT

Spring love asked:


We just got married and my credit score is 726 with $21,000 in debt, (mainly in car payments) My husbands score is 629 with $20,000 in debt (again in car payments and one credit card). Would it be easy for us to get a mortgage with these scores?

I know there are a lot of other details that factor in, we are just looking for suggestions! Thanks

JOHN

Jennifer asked:


If I recall correctly, a bank will only issue a loan for as much as a home is worth.

There’s a foreclosure in our neighborhood that no one touched while the seller had it on the market… honestly, it’s ugly - aluminum siding, brick veneer, and the layout of the house is odd, but we’ve decided we can make it work.

Anyway, since it didn’t sell, that owner had it seized by the bank. My husband and I want to make a low offer on it, and maybe get financed for an extra $20k in home improvements (even this would still put our loan quite a bit lower than the home’s appraisal value). Do banks do this? We’re qualified for FHA financing, but we can also put 10% down alternatively.

MARCOS

Teresa D asked:


We have 2 medical-related judgements and one from a credit card on our credit report. We spoke to a lender about buying a home and he said every mortgage companay would deny us because the people who have the judgements against us would put a lein on the property until they were paid. Is that true?

ETHAN

Rico asked:


i’m filing for chapter 7 also later on mortgage payments. We are planning to keep the house. I was wondering if I could get my home loan modified after the discharge.

RORY

Gufs99 asked:


My father would like to help us purchase our first home by co-signing on the loan for us. (yes, we both understand the implications of him being a co-signer on the mortgage). He is retired and living on his pension (not collecting SS just yet). Is this possible on a FHA mortgage?

RICKIE