What are the key factors in obtaining a home mortgage loan?
- I believe these days you need at least a 720 or a 760 score. You should have at least 2 years solid employment and some money saved in the bank
- Other Factors: With some lenders they require that your appraisal not be a significant amount less that your loan, because if something were to happen and your home went into foreclosure, they want to be sure they can sell the house and get what you owe them back. Credit Scores, the amount of debt that you have, ie credit cards, student loans, etc. , they will require that you pay some of that off so that they will be your primary lender. If you are purchasing, lenders usuallly require a termite inspection, home owners insurance and if you have prior mortgages, they will want those paid off as well. Usually not a whole lot is paid upfront except maybe your appraisal. Hope this helps and if you live is SC or GA request that McLeod and Dowling be your closing agent! As a thank you to me for answering your question! :
- Up until about a year ago all you needed was a pulse seriously. They wrote soooo many bad loans that they even made names for them. Ever hear of a NINJA loan? no, it's not a joke. NINJA stands for No Income No Job Applicant And now they wonder why our entire system is imploding. But to answer your question. since they fvcked up so bad they had to tighten their lending practices so much that now you need perfect credit, a six figure annual income, and a million dollars liquid. and that's just to buy a car! lol
- Well getting pre - approved is the action you need to take. You need to go into any banking ins ution, fill out and application and let them determine how much you can afford. From there they will tell you just how good your credit is, how much you need to pay down if any and how much of a house you can afford. It's extremely easy
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i do not understand what the mortgage lenders issue is, the house has stood since 1950ish! there is one wall that is single brick, i have had to get a quote to make the wall double brick! is it just me or are they being petty?. most exterior brick walls (benchmark lending)
my friend's primary home mortgage is paid off. she want to take a mortgage on the primary home in order to buy a second / vacation home. can he deduct the taxes?. your best answer would be to contact either the irs directly or a tax preparer in your area. (benchmark lending)
i understand that some law prohibits mortgage lenders from giving arm to people over certain age. i am 54 years old and i am struggling with this rate now. someone told me i could use this fact to persuade my lenders to reduce my interest rate, or to move me (mortgage lenders)
Knowledge Base: Mortgage
my husband and i have taken a mortgage on our house about 4 years ago. i know this is going to sound stupid, but if we refinance, do we get our equity back, just like we would if we were to sell it? i am confused about that bit. i (home mortgage)
the recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high? banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses. big businesses then had to (mortgage refinancing)
harvard?s bet on interest rate rise cost $500 million to exit by john lauerman and michael mcdonald oct. 17 bloomberg - harvard university?s failed bet that interest rates would rise cost the world?s richest school at least $500 million in payments to escape derivatives that backfired. harvard paid $497. 6 (benchmark lending)
i have a mortgage of $100, 000, and i want to pay it off super fast, so ive been selling heaps of stuff on e. bay, and putting the cash straight onto my home loan, what other ways can i generate cash?. be sure to avoid early mortgage termination fees, (benchmark lending)
please help. economictimes. indiatimes.com / news / economy / indicators / india_inc_faces_interest_rate_jitters / articleshow / 3247227. cms domainb.com / finance / banks / 20080801_lending_rates.html webindia123.com / finance / bank / fix.htm thehindubusinessline.com / 2004 / 09 / 02 / stories / 2004090200251000.htm groups. google. co. in / group / gov. (home mortgage)
Knowledge Base: Home Mortgage
my sister is asking me for money to pay up her home equity line. when i asked about her mortgage payment, she said she paid it off with her home equity line. is that possible to borrow money on your home to pay off your home?. technically, you can do (home mortgage)
i am planning to buy a home and wanted to know why everyone thinks that home mortgage loan is tax beneficial. example: - if we are paying around $15, 000 a year in interest property taxes and in tax refund 15% tax bracket we get back around $2k - 3k (home mortgage)
my credit is not bad or fair. it's good, just below excellent. how good does your credit have to be and what other factors are key to successfully obtaining a home mortgage loan?. well getting pre - approved is the action you need to take. you need to go into (home mortgage)
the recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high? banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses. big businesses then had to (home mortgage)
i have a mortgage of $100, 000, and i want to pay it off super fast, so ive been selling heaps of stuff on e. bay, and putting the cash straight onto my home loan, what other ways can i generate cash?. be sure to avoid early mortgage termination fees, (home mortgage)
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- Mortgage
- Mortgage Loan [9]
- Mortgage Lenders [7]
- Mortgage Refinancing [5]

