Posts Tagged ‘new construction’

Is there anyway to combine my 1st and 2nd mortgages under Obama's new plan?

Monday, April 12th, 2010

We did 80/10/10 to avoid PMI, it was new construction home and we’ve been here for 3 years. Our loan to borrow ratio is above 90% since the value of our home dropped. I’d love to combine my two mortgages into one, even if the monthly savings isn’t a lot, at least the interest I’m saving is good enough. It seems like none lender wants to touch second mortgages right now, and I’d have to bring a lot of cash to closing. Some housing plan by Obama, it doesn’t help me a bit!

What options do I have?

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Any advice on how to sell our house w/o a realtor in a low traffic area?

Saturday, November 21st, 2009

We’ve lived in our home over 2 years. It was a new construction home when we bought it. We would like to move closer to the city but don’t have much equity in the home yet so having a realtor may cost too much out of pocket, especially if we will need to turn around and buy again. We have it listed on a local FSBO site but it’s back in a quiet subdivision with little traffic so how else can we advertise w/o breaking the bank?
Greenville is the nearest city, selling for 173,000, 2248 sq ft (4bed, 2.5 bath, bonus room)
Greenville is the nearest city, selling for 173,000, 2248 sq ft (4bed, 2.5 bath, bonus room)

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Using FHA, if the appraisal is 20 to 22% higher than the purch price, will the MIP or PMI drop at purchase?

Friday, September 11th, 2009

The home is completed new construction and was priced at 268,000. The purchase or loan amount will be 217,000, using an FHA loan written through GMAC. I thought that at the time of the purchase, if you can show that there is 20 to 22% equity than you would not be required to carry PMI/MIP.

I need to get a home equity loan with out a home appraisal.?

Tuesday, June 23rd, 2009

my home is new construction that is not 100% finished. outside is 100% but we still need drywall, flooring and a kichen.

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How soon after a home purchase can you apply for a home equity loan?

Thursday, May 21st, 2009

Our house is new construction and is our first home, so we don't have much additional money to install things like fencing and central air. Also, we got our home using alternative credit, but have been maying our mortgage payments religiously.

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