Loan
We are buying a house and are looking for 1M mortgage. I’ve been quoted for 30Yr fixed: 1st 729k @4.5% and 2nd @4.25 with 20% down or 10/1 ARM 1st @4.0% and [email protected]% with 25% down Are these good rates? given the expected rate increase (but when?) is it still better to get [...]
Hello Everyone, I wanted to ask two questions.. When the bank is determining how much a buyer can borrow, are they totaling up the buyer’s monthly gross income or the buyer’s monthly net income? Secondly what percentage of the income is used to determine what the buyer’s can afford ? Is it 42% or 45% of the [...]
I was just pre-approved for a VA Loan through BofA. They wanted Military ID, ID, Bank Statements, D-214, 2 years W2s, and Paycheck stubs. Do they need tax returns for the last few years? I have filed, but owe every year and am on a payment plan paid every month to the IRS. will this [...]
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Hi, I am interested in several REO’s and need loan pre approval letters from several different direct lenders. If I aply with more than one lender, will that affect lowering my credit scores? Does anyone know how to get pre- approval letters from several different lenders without lowering credit scores? Thank you and happy holiday [...]
Getting confused of what annuities are? You may spend a great deal of time figuring out what annuities are by reading different articles. However, annuities explained by some articles can be very confusing. Annuities are not that difficult to understand though. Basically, an annuity is a contract between you and a life insurance company that [...]
I’m a first time homebuyer and thought I was very close to receiving ATC from my lender for an FHA loan, but they have raised a few issues at the last minute that are now holding up the process. I wanted to outline a timeline of the relevant events and see if this was normal. [...]
We’ve recently bought a short sale planning to remodel & expand before we move in (we are still renting). Our spiral of planning project –> estimating cost –> seeking funding –> repeat is about to begin. Question: Who offers appropriate loans? The big banks (Wells Fargo, BoA, Chase…?) Others? Some quick facts: [...]
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We’ve been pre-approved for a jumbo. Our offer has been accepted, and the contract is signed. We’re not closing for a while. We are working closely with a loan officer at a portfolio lender (a local bank with local underwriters) who is doing an extraordinary job with our application, and is working closely with our [...]
An owner in Palm Beach Gardens, FL owns a house that has a 1st mortgage and a home owner equity loan both collaterized by the home. He moves and buys another house because of a job change. He is under water on the FL house but is current with all his payments. He wants to [...]
Continue reading about Transferring the collateral for a home equity loan from one house to another?