Posts Tagged ‘Home’
Question by Anthony: Question concerning FHA loans and Purchasing a home with cash?
I’m thinking about purchasing a bank-owned home, and would ultimately like take an FHA loan out for it. I have a friend who would loan me the whole acquire price for the home in money (in order to close rapidly and get a greater deal from the bank). Can I still finance the home through the FHA program following I do this? Given that effectively the funds would go to pay back my buddy for the borrowed cash?
Greatest answer:
Answer by the kid
There would be no point.
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Question by mcslain: How come utilizing Yahoo property loan calculators it appears like I am paying way too much for my current house loan?
Took out a loan 6 years ago for 90K at like five.75%. I’m paying around $ 900/month on it more than 30 yrs. The calculators on Yahoo although say I can get a 90K loan now at 6% and only pay $ 540/month over 30 yrs. What is going on? Did I just get taken to the cleaners somehow? Is there anything I can do?
Ideal answer:
Answer by Carolinahomerates.com
the yahoo calculator isnt which includes taxes and homeowner’s insurance as your standard mortgage payment does.
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Question by Megan Neal: How can I get a home loan while only claiming to make min. wage?
I am a recent college grad with a fair amount of debt, I make nearly double payments on time each month. I do the same with my car loan. I’d like to purchase a home, but make only minimum wage on the books. However, because of unclaimed tips, I earn substantially more. Any suggestions would be appreciated! Thanks.
Best answer:
Answer by Steve D
Assuming $ 7.25 for minimum wage and 40 hours, that comes out about $ 15,000 declared income a year, meaning you can qualify for a mortgage of about $ 45,000 (three times declared earnings). Since the lenders go by official/declared income and you don’t declare your tips, they are not considered income.
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Question by costumes.us.com: What is the Greatest Mortgage Calculator for Residence Equity Loans and Property Refinancing?
I am looking for the greatest mortgage calculators. Interest Only calculators and easy property mortgage calculators and loan calculators. I utilised the ones at http://www.1mortgagecalculator.net/index2.php and they appear pretty very good. Just looking for comparisons.
Very best answer:
Answer by realtorslasvegas
I identified some great resources for mortgages and mortgage calculators at http://calculator-mortgage.us/
Also you can check the yahoo directory at http://dir.yahoo.com/Company_and_Economy/Shopping_and_Services/Real_Estate/Financing/Mortgage_Resources/Calculators/?o=a
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