Archive for October, 2008
Can i get a mobile home loan with 6 months of good credit history?
Eskimo asked: Here is my situation:
I have 6 months of good credit card history, but nothing else
I own 2 acres of completely paid off land
I am 20 years old
Someone told me that i need 3 years of credit history to get a home loan. Is this true?
I am expecting to pay about 25% down [...]
Student loans not in repayment or in deferral included in a mortgage loan application as an expense?
Ana C asked: Am applying for a mortgage loan and have two school loans already on my credit report but specify one is not in repayment and second is deferred. However, the loan application is requesting all expenses listed on my credit report. Are these loans not in repayment included in my expense [...]
What interest rate can I expect on a mortgage loan with my credit scores?
PrincessB asked: What interest rate can I expect on a mortgage loan with my credit scores?
Today I have 564 588 654…I am hoping to have my mid-score up 10 pts by tomorrow, and then i am applying for the loan with the bank. I want a fixed rate, 100% financing, 30 yr loan for $160,000. [...]
What type of home loan is best for someone with 680 Credit score, no money down?
The Skizzanator asked: I’m looking to buy a home. My credit score is 680, but I have no money to put down. What is the best loan option for me? A friend is buying a home and he says his rate is 1% and his mortgage increases by 1% per year. Not his interest rate, [...]
How does a family mortgage work for their kids?
chipdoo asked: Is it possible for a parent of a married couple to take a loan or a mortgage from a parent for, lets say $300k or so?
Is this possible? How does the interest rate work? Is it determined by the lender (the parents)?
Would this be a good thing for both the kids and the [...]
Are there any mortgage companies that work with a 585 score?
Keyosha W asked: I’m in the market for a house, but my score is kinda low, does anyone know of a mortgage company that can work with a 585 score? I know interest will be high but I’m ready to be a home owner. DTI is good.
Is it possible to get a mortgage loan with poor credit?
e.sillery asked: I filed bankruptcy about 4 years ago and my credit has been raising slowly. I pulled my credit report and found two medical collections against me that were not mine. I contacted the proper people and they agreed to remove them. Only one was removed and I have been trying for 6 [...]
How exactly do ‘interest only’ mortgage loans work? When do I pay on the principle of such a loan?
ronidl76 asked: I know APR loans are a bad idea, but how would an interest-only loan work? Would it still be a 30 year note, or do they extend the loan? Would I be able to get a fixed rate with an interest-only mortgage loan?
What is the best way to consolidate my debt? I have a mortgage and want to refinance,add my debt to new loan?
shainastar08 asked: I have a $530,000 all-interest mortgage loan. I am interested in refinancing soon, (if it is a good time to do so?) Should I refinance and add my $15,000 of personal debt to my new loan? Or should I get a personal loan for $15,000 from my bank?
How can I be on our mortgage without an existing credit score?
schweezy7 asked: My husband and I want to apply together for a mortgage, his credit score is excellent, mine is non-existent since I have been in the US for only 3 years and have used credit cards related to my husband’s account only. Is there still a way for me to be on the mortgage?
Will [...]
