Posts Tagged ‘buying a house’
Tuesday, February 16th, 2010
Husband: multiple student loans, most were co signed by his parents, he has a job that pays about 41,000 after taxes, and is in the military. (In august he gets a raise to 51,000 after taxes) Approx credit score of 650
Me: I have far fewer student loans, all under just my name. Stay at home, take on line classes. Approx credit score 720. One credit card limit of 1000, pay it off to zero balance every month.
Together: Have one loan for a car
Total in loans: approx 39,000
-is this a reasonable spot to be in, the loans were for two 4 year college educations, and 2 cars, we’re 23, just 1 1/2 years out of college.
-Is it wiser for me to pay off those loans as much as I can not putting back much money into savings, or should I concentrate more on saving the money for a down payment?
-We don’t plan on buying a house for about 1 1/2 more years, but with my current stats, would we be likley to be approved for a mortgage?
-Also we do currently have saved Approx 5,000 for that down payment.
Any advice to get us on the right path now would be greatly appreciated.
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Tags: alfa romeo, buying a house, buying a new home, cars, college educations, credit card limit, credit score, dilemas, electric cars, gm retirees, hertz, home cap, home refinancing, hybrid cars, job, medical service, model trains, mortgage, much money, new cars, parents, phoenix arizona, price breaks, star realty, student loans, tank cars
Posted in zero down home loans | No Comments »
Sunday, January 17th, 2010
I’m buying a house with some equity in it. How long after closing can I take that equity loan out? Do I need a reason to take it out?
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Tags: bad credit equity loan, bad credit secured loan, birthday flowers, blog archive, buying a house, career development loans, equity loan, first time buyer, first time buyer mortgage, florist, home equity loans, home equity rate, home loans, investment purposes, lease option, mortgage rate, option program, time buyer mortgage
Posted in best home equity loans | No Comments »
Saturday, December 26th, 2009
i was thinking about buying a house at the beginning of the year, its this one here:
http://www.realtor.com/mortgage/RatesTable.aspx?lid=1104112102&lntype=F&dper=5&loanterm=30&pts=Zero&isIO=N&ref=listingdetail&hiloanamount=54500&source=web
and i was thinking about getting a first time home buyer loan but i don’t quite know how they work. by the conditions listed i know me and my gf qualify but how does that work with actually buying the house? would that push the monthly mortgage up or is it a grant? would i have to get the loan for the house at the same bank i get the first time buyer loan? and being that i’m getting the first time loan that supposed to cover down payment and closing costs, would i have to pay anything out of my own pocket or will the bank tell me that?
here is the first time buyer program for my state:
http://www.nchfa.com/Homebuyers/HBeligible.aspx
any help is greatly appreciated.
how will that be out of my pocket if the first time home buyer program offers up to 8000 "Down Payment Assistance" if thats not what it means then what is it for?
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Tags: amp, buying a house, c tech, closing costs, crimper, dper, fha mortgage, first time buyer, first time buyer loan, first time buyer program, first time home, first time home buyer, first time home buyer loan, first time home buyer program, gf, home buyer program, isio, lower mortgage, mortgage advice, mortgage refinancing, payment assistance, quot, realtor, refinancing mortgage, source web, teen pregnancy, time home buyer, time loan, vintage music
Posted in zero down home loans | 1 Comment »
Saturday, November 28th, 2009
My husband and I are in the process of buying a house.. we were told by our realtor and mortgage broker that the house appraised for 30k more then what we are paying for it.
If this is true and we buy the house would we be able to take out an equity loan on the house as soon as we buy it since the house is worth more then we are paying?
We’re doing FHA so we only have to put 3.5% down. So.. I’m assuming that means that we will have to pay into the house for a while before we can
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Tags: 203k mortgage, article directory, buying a house, conveyance, cordero, degree in special education, equity line of credit, equity loan, fha, fha 203k, fha mortgage, home equity line, home equity line of credit, Home Equity Loan, hous, loanamerica, mortgage broker, mortgage brokers, mortgage loans, process of buying a house, pvc windows, realtor, second mortgage
Posted in Home Equity Loan | 5 Comments »
Friday, November 27th, 2009
I am considering the Deed in lieu of foreclosure option but I have a Home equity line of credit on my house. Is this something that can still be done? BTW I live in Florida if that has any bearing on the answer.
Thanks in advance for any advice 
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Tags: bearing, bsa motorcycle, buying a house, christmas gifts, deed in lieu, deed in lieu of foreclosure, equity line of credit, equity mortgage, fha loan, fha mortgage, foreclosure mortgage, halfords, home equity line, home equity line of credit, Home Equity Loan, home equity loans, jonathan bean, mortgage calculators, mortgage holders, mortgage home equity, prepayment penalty, thanks in advance
Posted in home equity line of credit | No Comments »
Thursday, November 12th, 2009
I currently own my home, and I’ve never had a mortgage, I paid in cash for it. Now, I am thinking of using this residence as a rental and buying a new home, as I need to relocate across the country and I prefer not to sell in a down market. I would say my credit is fair…not excellent with a few medical bill blemishes. When I apply for a loan at the bank, can I use my home equity to secure it? Or will I need to apply for an unsecured mortgage? Any help on this would be greatly appreciated.
I already own this home free and clear. I have never mortgaged it. This will be the first time I’m getting a mortgage. I can afford it…..I’m not really considering defaulting to be an issue. I just need to know what type of loan I need.
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Tags: blemishes, brian gibbons, buying a house, buying a new home, cash advance loans, debt management services, ebay, equity loans, facial skin, fire step, getting a mortgage, home equity, Home Equity Loan, medical bill, miami real estate, mortgage debt, mortgage market, pearl necklace, pimple, scoop news, second mortgage, wrangler sport
Posted in home equity bank | 1 Comment »
Sunday, September 27th, 2009
I am buying a house for 5,000, it appraised for 5,000. The mortgage person and the real estate agent suggested that I could take out a mortgage for 0,000 and pocket the extra ,000 at the close of the deal. Basically I would have a 5,000 mortgage with the ,000 cash in my pocket. Is this Ok to do in the mortgage world, I thought you had to take out a home equity loan, after you buy into the house with equity. The APR is 6.35% my credit score is 720
Tags: buying a house, cash in my pocket, credit score, Home Equity Loan, mortgage world, real estate agent
Posted in Home Equity Loan | 4 Comments »
Monday, August 24th, 2009
I’m buying a house from my parents. The appraised value is 255k. At this time they just need 160k (aka: the loan amount). Is there any reason I can’t say the sales price is 180k? (which allows for a gift of equity to cover the down payment). I just want to make sure it’s going to be okay from all sides (lender, gift taxes, etc.)
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Tags: angry dad, arizona real estate, bath and body works, buying a house, counterpoint articles, death book, gift taxes, health care bill, home fragrance, investing books, median price, money property, orlando sentinel, parents, party express, pc tattletale, price spikes, sedona arizona real estate, tea party, valuation discount, waste of money
Posted in equity lender | 1 Comment »
Sunday, August 9th, 2009
My fiancee and I are buying a house and shopping for a mortgage. We already own a home worth around 0K which we will sell. I own the home outright; there is no mortgage.
We want to buy the new home now and sell our house in a few months. We then want to take the 0K from the sale and apply it to the new mortgage. But we don’t simply want to apply it to principal. Rather, we want to apply it so that it lowers our monthly payment, making it as if we had acquired the mortgage for 0K less to begin with.
1. Can we do this? Or will we have to refinance?
2. If we would have to refinance, would it make sense to take out an equity loan for 0K on the existing home and use it for the home purchase from the beginning? We’d then pay back the equity loan when we sold the house.
3. If we are able to apply the 0K to the mortgage later and have it lower our monthly payment, will we be able to avoid capital gains on the 0K?
Any advice would be greatly appreciated. Thank you.
Tags: buying a house, capital gains, equity loan, existing home, fiancee, new mortgage, shopping
Posted in Home Equity Loan Refinancing | 7 Comments »
Wednesday, August 5th, 2009
We are buying a house that’s appraised at 5,000, but is being sold for 0K. We can put down up to 20% (though it would eradicate our savings). We have been approved for 10% down, 0 PMI, or 20% with no PMI. We would have to use ,000 to make necessary renovations, the sooner the better. Is it better to pay the PMI and hope we can make it go away in a year based on hopefully increased value (or at least same as appraised) or not to pay PMI, but have much higher monthly payments for the home equity loan, and worse yet, risk not being able to get the home equity loan to do the renovations?
The 5K was the bank’s appraisal. But I believe the bank uses the purchase price to determine LTV for PMI purposes, initially. They let you do a re-appraisal after 1 year.
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Tags: adverse credit mortgage, bad credit home loan, buying a house, buying a property, credit home loan, credit score, equity loans, glossary of terms, Home Equity Loan, home mortgage mortgage, insurance uk, ltv, money down, mortgage glossary, mortgage lenders, mortgage loan, mortgage refinance rates, pmi, private lenders, rates mortgage
Posted in Home Equity Loan | 4 Comments »
Related ‘buying a house’ sites :
 | HUD: Buying a Home
Offers a guide to buying a home with a low downpayment. Also includes special government programs.
www.hud.gov/buying/index.cfm |
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 | Money101 Lesson 8: Buying a Home
CNNMoney guide to buying a home. The top things you need to know. ... A few months before you start house hunting, get copies of your credit report. ...
money.cnn.com/magazines/moneymag/money101/lesson8 |
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 | How to Buy a House - wikiHow
wikiHow article about How to Buy a House. ... Note: These instructions pertain to buying a house in the US. For instructions in other countries, see the Related wikiHows below. ...
www.wikihow.com/Buy-a-House |
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 | House buying information
Whether you are buying a home for the first time or an experienced home buyer, this Site has Real Estate information you can use.
www.ourfamilyplace.com/homebuyer |
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 | Buy A House In Oklahoma
We sell houses with owner financing and on our lease-to-own program. ... Buy A House In Oklahoma is not a real estate agency and is not associated with one. ...
www.buyahouseinoklahoma.com |
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 | RE/MAX
RE/MAX real estate franchise network provides residential, commercial, referral, relocation, and asset management real estate services.
www.remax.com |
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 | WeBuyHouses.net
We buy houses fast, pretty or ugly. Sell your house quickly using our confidential, professional service. ... We buy ugly and pretty houses too, because we can see a diamond in ...
www.webuyhouses.net |
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