Question: #1: home loan??
my house is worth about $550k.. My credit score is 559 right now, due to my excessive credit card and student loan debt.. nothing has ever been late, it's just that i have excessive amounts of these debts.. i make about $2,600 dollars a month, and i'm wondering if i will be able to get a home loan for about $100k so that i can pay everything off.. (my house is 100% paid off).. will i have a problem getting this home equity loan?? should i even both applying or should i just wait until i pay down my credit cards more?? advice anyone??
- asked by are we there yet
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- answered by: farran abat View All Answers (9)
Question: #2: Home loan?
My boyfriend is applying for a FHA home loan today, he has great credit, 700's and has had a job for awhile. The only thing is that he has cut back hours lately because of going to school and work and they asked for his last month of pay stubs. Usually he makes about 1500 a month take home but has only made about 100 this past month because of tests and essays and what not. Will they not accept him based on this? Not to mention that was an intern, he has been hired in at chrysler for the summer making 3000 a month (750 a week).We live in michiganhe was going to rent but it was suggested he buy and build equity, hes already guaranteed a job at chrysler. He also has a very good down payment (20k), hes doing the FHA loan because he wants to flip the house he buys so he can make a good profit on it 2 or 3 yrs down the line when he sells.
- asked by BUFFCHICK25
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- answered by: Beeny View All Answers (6)
Question: #3: Home Loan!!!!!!!!?
Know where i can get a home loan fast.give me the number
- asked by MIC 1
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- answered by: jeanimus View All Answers (4)
Question: #4: Can I take out a home loan for land and a manufactured loan?
By home loan I mean a home loan and not a personal property loan like on a trailer home/manufactured home in a trailer court. I qualified for a home loan and I want to keep it cheap, so I want to purchase a piece of land and a manufactured home. Wil this work as a home loan if its on private land?Wow, there is quite the array of scams out there! Why would anyone take out a loan from the internet without talking to someone face to face?
- asked by Jak K
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- answered by: thinking-guru
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Question: #5: How to get a home loan on an older home that is missing foundation?
We are looking at a older home that was off the market it but recently got put back on because it supposedly only had half the foundation but we got to looking at it and it has about 80% of a foundation on it. We know the previous owners and arent sure if they got a loan on the home or not so we were wondering how to get a home loan and or what to get?
- asked by Cowgirlup2008
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- answered by: estielmo
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Question: #6: Does a home loan in a foreign country affect getting a home in Australia?
My husband has a home loan in India (for his parents) and we are looking to get a home loan in Australia for ourselves very soon. Will there be any problem when we take out an Australian home loan?
- asked by Naomi
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- answered by: Where's my scooby snack?
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Question: #7: Can I use two different home loan broker apply my home loan?
My home loan broker informed me that my home loan approved by the bank and will send the loan agreement to me but without letting know the loan product and all fees, I am not happy about it. Can I find another Broker to reapply my home loan with the same bank?
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- answered by: Christopher B
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Question: #8: How to obtain a home loan for more than the home costs?
Is it possible in our current market? If so, can it be in one loan? Say the home is purchased for $120k, can the buyer ask for another $20k for personal debt? Does this have to be done with a home equity loan?
- asked by Tink
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- answered by: Janet P
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Question: #9: Does the home loan interest rate vary betweenonline quotes and the real ones ?
- I am planning to buy a home- i have put an offer on a house and almost 100% done dealNow I have to look out for a home loan. I am looking at several online interest rate quotes what lenders are giving based on my facts.Some of them are sending quotes for 4.78% 4.5% , now does these rates change when we actually sign there application or do they have to stick with the rates what they have quoted me online ?
- asked by JohnPau2010
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Question: #10: what is the risk borrowing home loan from a small and new bank?
I am having a traditional loan application with a big bank. I just found a small bank in Florida, founded in 2004, is offering better rate and cost compared to those big famous banks. The small bank is member of FDIC. Somebody told me small bank may not follow federal regulations. How do I tell if a bank is a qualified home loan lender that follows all lending regulations? What is the risk borrowing home loan from a small bank?
- asked by h.f.
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- answered by: wife of marine
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Question: #11: How should I alter my home loan given the currentinterest rate cut?
I would appreciate some advice as to how I should alter my home loan. I am currently struggling with the home loan payments I am currently on. I have a mortgage of $ 658000 at an interest rate of 7%, variable rate.Should I be changing part of the loan to fixed rate given the current interest rate cut scenario ?
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Question: #12: How does home loan work: Serious answers please?
Hi,1. Do you borrow from a bank exactly how much the home is worth or you can see a home of 200000 and borrow 2500002. When you decide on a home, does the bank give you the money to pay the sellers or they pay them directly on your behalf3. If the money you borrow happen to be higher than the home value, what happens to the remainingI guess the question is, how does home loan work?THANKS A LOT
- asked by well
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Question: #13: How can I get approved for a home loan if I am moving to another state?
Hi! My husband and I are trying to move to Arizona in the next year and buy a house. This will be my first home. We both work full time jobs in California now. Any home loan advisors out there? Can you tell me how I can get approved/pre-approved for a full 30-40 year home loan when we have not yet gotten new jobs in the state we're planning on moving? One thing I heard is if we plan to rent out the property, then we can get approved for a loan. Please help!
- asked by Gennie Goose
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- answered by: baconshmals
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Question: #14: Can i sell a home which is on home loan before 5 years which was claimed for tax deduction?
I am planning to sell one of my flat bought in 2004 on home loan. I have claimed for tax deduction for 4 years already. I have a seen a clause in the yearly bank statement that i will not be entitled for tax saving on home loan if flat is sold before 5 years. Is it true? Please provide more information on this clause.
- asked by sandeepagarwals
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- answered by: Rajababu
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Question: #15: How is the tax waiver counts on home loan is calculated?
Hi, My question is regarding home loans. My Dad is a Railway Officer. Drawing around RS. 5 lacs per year. He has a house building loan from SBI amounting Rs. 6 lacs. So please tell me that how his home loan will reduce the tax.
- asked by Arya Biswas
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- answered by: HMT
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Question: #16: Is clearing the home loan a better option or should I go with the regular EMIs for the entiretenure ?
I already have a home loan with ICICI on a floating interest rate. I'am looking for another loan.Should I clear this loan first to avail another loan or should I continue paying the EMIs for the entire tenure(This is a huge amount I will be paying by the end)."Clearing a home loan" is what I meant of getting rid of the loan by making a pre-payment.
- asked by Itsme
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- answered by: xplorshinji
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Question: #17: What kind of home loan interest rate could I get with a bankruptcy on my record?
I have a chapter 7 bankruptcy on my record from 2003, but I have no debt and a credit score of about 700. And I have $20,000 for a down payment. If I got a home loan, would the bankruptcy make a huge difference in the interest rate? How big a difference?
- asked by shawn b
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- answered by: Jennifer B
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Question: #18: How is the amount of a home loan decided?
My husband and I have been approved for a $120K home loan. However, some other couples we know that make the same or less than we do were able to buy homes for up to $20K more than our approved loan. I know some of them also have more monthly bills than we do. So how is something like that decided? Should we shop around more?
- asked by CharChar76
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- answered by: golferwhoworks View All Answers (3)
Question: #19: Trying to qualify for a home loan. Will adding my name to my parents savings account help?
I've been doing alot of research in terms of qualifying for a home loan and can't seem to find an answer to this. Many home loans require you to show a bank account statement of atleast 3 months of savings. I unfortunately don't have that but the monthly mortage is not an issue. Will my parents adding my name to their savings account allow me to still use that account as proof of the 3+ months savings to qualify for the loan? Will this help in any way towards getting approved for the loan. Thanks!
- asked by michaeldorian
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- answered by: GEE-GEE
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Question: #20: Is there any tax deduction for home loan in other countries ?
If a person carries a home loan in other country (other than US) is there any tax deduction(relief) given by IRS ? A part of his earning in US is being used to pay home loan EMI in other country.
- asked by Leo
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- answered by: Ken
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Question: #21: How can I use my VA home loan Certificate with bad credit and my wife has good credit?
We found a great deal on a great dream home. My wife has been pre-approved for a 150k home. The home we are attempting to buy has been countered at 165k We are prepared to put down 6k. That leaves a 9k gap.I am a veteran and would like to use my VA garantee on the loan if possible to either cover this gap or get 100% financing.
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- answered by: Sgt Big Red
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Question: #22: Is it possible to get a home loan with bad credit?
My credit score is around 530 and My husbands is around 630. I have charge offs from 2005 (that will be on my credit report until 2012) We both have good jobs and bring home around 7000 together each month. We also have around 30,000 saved up for a down payment. Since our income is decent, and we have a down payment (more than 10%) is it likely we will be able to find a home loan for a new home?
- asked by twosis
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- answered by: SmartyPants View All Answers (5)
Question: #23: How do you know whether the bank classes your home loan as a "subprime" loan?
My loan is fixed rate, my monthly payment is fairly low, and I put down a large downpayment. But it was my first home, and I find myself wondering if I had a "bad risk" loan or a normal home loan, after hearing constant talk about "the subprime lending debacle". Any info you can offer will be appreciated.
- asked by Mr. Vincent Van Jessup
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- answered by: rick
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Question: #24: Can they denied you a home loan if you already have a student loan?
Im trying to purchase a home but already have a student loan?My loan is deferred, Means i dont have to pay for it because im still going to school.
- asked by jaydra
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- answered by: DAVE
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Question: #25: How can you get a home loan with really poor credit?
My husband, myself and our kids, are living with his parents, for the past six months. We both have very poor credit and are in desparate need of our own place. We now can afford our own place but cannot get a loan to purchase one. We have down payment in hand, and the monthly income to afford everything, but we are still without a home! Can someone please help with an idea of how to get a $6500.00 loan?There is no other proerty or anything to be used for a mortgage! We are trying to purchase a very nice 3BR,2BA, mobile home. We have nothing other than the down payment to put on it, and can afford the monthly payments, and the insurance, along with everything else.
- asked by lil_shortiesunshine
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- answered by: Tanil
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Question: #26: Will a mobile home loan company give you part of the loan for sewer and water setup?
I have to set up the sewer and water on my land, and it will cost me about 4,000 dollars. Do most mobile home loan companies work with you on that? If not, where else can i get a loan for it?
- asked by Eskimo
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- answered by: Pojo
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Question: #27: How does trading a car affect the outcome of a home loan?
I want to know if its a bad idea to trade in my $11k car for an equal value truck. I am going to be buying a home in about 4 months, and i don't want the trade to mess up anything with the home loan.If its bad before the home loan, what about after the home loan is completed? I know it would be best to just keep the car, but i need a truck.
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- answered by: ken k
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Question: #28: What kind of home loan can I get for a fixer upper that won't pass inpsection?
I'm looking at an old Victorian home (built 1889) and wish to restore the home. The problem is, I know it will never pass inspection.What kind of home loan can I get for something like this?
- asked by Chris R
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- answered by: Carolinahomerates.com
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Question: #29: What happens when your home loan switches to the adjustable rate?
My home loan goes into an adjustable rate in June of next year. I am wondering what to expect. I currently have a so-so rate... with interest rates dropping or staying the same, what will my adjustable rate do if the market stays like it is now?
- asked by Jeanette
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- answered by: Ask M
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Question: #30: How to get a home loan and start paying on bad debit?
My spouse and I are wanting to purchase a home. We pay our rent every month so we should be able to pay a house payment. We have some very bad credit issues in the past and would like to take care of them either by settling or paying the debt off slowly. But how does one go about this? I know I can get a government loan if I start paying on the bad debt, but companies want lump sums and dont want to work with us. They demand payment now and dont' care otherwise. Any suggestions?
- asked by Daisy
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- answered by: Quicken Loans
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