Comments for Low Income Home Loan http://www.homeloanave.com Get the tips you need Thu, 29 Jul 2010 08:54:33 +0000 http://wordpress.org/?v=2.9.2 hourly 1 Comment on Home loans? by Mike N http://www.homeloanave.com/home-loans-16/725/comment-page-1/#comment-4301 Mike N Thu, 29 Jul 2010 08:54:33 +0000 http://www.homeloanave.com/home-loans-16/725/#comment-4301 Call A local Mortgage Broker ,Who will shop around to get you the Best Terms ,Rates and Conditions. You won't be sorry Call A local Mortgage Broker ,Who will shop around to get you the Best Terms ,Rates and Conditions. You won’t be sorry

]]> Comment on Home loans? by Nyte M http://www.homeloanave.com/home-loans-16/725/comment-page-1/#comment-4300 Nyte M Thu, 29 Jul 2010 08:54:33 +0000 http://www.homeloanave.com/home-loans-16/725/#comment-4300 Talk with a broker/banker first. Do not seek the help of a Realtor until you know what you can afford. The broker will examine you last two years combined income via w-2 and current pay stubs (If S/E, you'll need tax returns), assets (401k, IRA's, Checking account etc.) to determine your ability to repay the loan, plus asset reserves. Have your credit reviewed prior to or the initial meeting with your loan team. Typically, a score of 575 minimum is required for maximum financing, should you not qualify for conventional minimum (100%) your broker may still look at govt. alternatives like FHA or VA if eligible. There are also many community sponsored programs that allow for down payment assistance, so if you can't qualify for 100% you may still find a loan using one of these community programs. I would not waste your time getting pre-qualed, go with an actual pre-approval. as it holds more weight.. Upon pre-approval you should enlist the help of a reputable Realtor. He/she will work with you and your broker to find a home that meets you want, and is within your comfort level. if you have any negative credit issues, you'll also want to start working on these issues early. Good Luck Talk with a broker/banker first. Do not seek the help of a Realtor until you know what you can afford. The broker will examine you last two years combined income via w-2 and current pay stubs (If S/E, you’ll need tax returns), assets (401k, IRA’s, Checking account etc.) to determine your ability to repay the loan, plus asset reserves. Have your credit reviewed prior to or the initial meeting with your loan team. Typically, a score of 575 minimum is required for maximum financing, should you not qualify for conventional minimum (100%) your broker may still look at govt. alternatives like FHA or VA if eligible. There are also many community sponsored programs that allow for down payment assistance, so if you can’t qualify for 100% you may still find a loan using one of these community programs. I would not waste your time getting pre-qualed, go with an actual pre-approval. as it holds more weight.. Upon pre-approval you should enlist the help of a reputable Realtor. He/she will work with you and your broker to find a home that meets you want, and is within your comfort level.

if you have any negative credit issues, you’ll also want to start working on these issues early. Good Luck

]]> Comment on Home loans? by $$$ http://www.homeloanave.com/home-loans-15/724/comment-page-1/#comment-4293 $$$ Wed, 28 Jul 2010 08:51:20 +0000 http://www.homeloanave.com/home-loans-15/724/#comment-4293 Haha......let me see, I'll borrow from the Bank (an institution created by wealth for the sole purpose of gaining more wealth) more than what my property is worth, And the Bank will whole heartedly agree to lend me more than my property is worth because they are generous and because I think I told them that the money was to be used for what I think they wanted to hear!........An emphatic NOT!!!...that's not happening, not in this lifetime, at least.....The Bank is there to MAKE MONEY PERIOD!!!! ...You would probably be better off getting a $10K loan on an item (such as a car) that can be used as and for collateral.........I wish you only the best in your quest...Good Luck! Haha……let me see, I’ll borrow from the Bank (an institution created by wealth for the sole purpose of gaining more wealth) more than what my property is worth, And the Bank will whole heartedly agree to lend me more than my property is worth because they are generous and because I think I told them that the money was to be used for what I think they wanted to hear!……..An emphatic NOT!!!…that’s not happening, not in this lifetime, at least…..The Bank is there to MAKE MONEY PERIOD!!!! …You would probably be better off getting a $10K loan on an item (such as a car) that can be used as and for collateral………I wish you only the best in your quest…Good Luck!

]]> Comment on Home loans? by Lisa L http://www.homeloanave.com/home-loans-15/724/comment-page-1/#comment-4292 Lisa L Wed, 28 Jul 2010 08:51:20 +0000 http://www.homeloanave.com/home-loans-15/724/#comment-4292 Let me see if I understand. You want to commit fraud? Let me see if I understand. You want to commit fraud?

]]> Comment on Home loans? by alterfemego http://www.homeloanave.com/home-loans-15/724/comment-page-1/#comment-4291 alterfemego Wed, 28 Jul 2010 08:51:20 +0000 http://www.homeloanave.com/home-loans-15/724/#comment-4291 Only if the property appraises for that much more. Only if the property appraises for that much more.

]]> Comment on Home loans? by Amanda H http://www.homeloanave.com/home-loans-15/724/comment-page-1/#comment-4290 Amanda H Wed, 28 Jul 2010 08:51:20 +0000 http://www.homeloanave.com/home-loans-15/724/#comment-4290 No, not even if it appraises for more. I've never found a bank that will give you cash back at closing, even if you lie. Generally if you do a hold back "for improvements" its held by the title company and only given to you when you turn in receipts. No, not even if it appraises for more. I’ve never found a bank that will give you cash back at closing, even if you lie. Generally if you do a hold back "for improvements" its held by the title company and only given to you when you turn in receipts.

]]> Comment on Home Loans? by insane membranes http://www.homeloanave.com/home-loans-14/723/comment-page-1/#comment-4275 insane membranes Tue, 27 Jul 2010 11:15:43 +0000 http://www.homeloanave.com/home-loans-14/723/#comment-4275 definitely shop around. adding you as a cosigner certainly cant hurt. but your credit score is a bit low. so i wonder if that might drag down the overall rating. try http://www.savingslife.com to get a few other quotes to get a better feel for the mortgage landscape. it cant hurt. and your credit wont be run. definitely shop around. adding you as a cosigner certainly cant hurt.
but your credit score is a bit low. so i wonder if that might drag down the overall rating.

try http://www.savingslife.com

to get a few other quotes to get a better feel for the mortgage landscape. it cant hurt. and your credit wont be run.

]]> Comment on Home Loans? by Armygirl91 http://www.homeloanave.com/home-loans-14/723/comment-page-1/#comment-4270 Armygirl91 Tue, 27 Jul 2010 11:15:43 +0000 http://www.homeloanave.com/home-loans-14/723/#comment-4270 With a credit score of 550 I doubt you are going to be doing him any favors. This is the same thing that happened to me and my hubby when we were buying our first house. My credit score was low (Due to being married before to a spendaholic and having too much debt) So my husband got approved for $200,000. He got the house on his own and then added me to it later (title and loan) Good Luck! Its a big step buying your first house. With a credit score of 550 I doubt you are going to be doing him any favors. This is the same thing that happened to me and my hubby when we were buying our first house. My credit score was low (Due to being married before to a spendaholic and having too much debt) So my husband got approved for $200,000. He got the house on his own and then added me to it later (title and loan)

Good Luck! Its a big step buying your first house.

]]> Comment on Home Loans? by t-bags http://www.homeloanave.com/home-loans-14/723/comment-page-1/#comment-4269 t-bags Tue, 27 Jul 2010 11:15:43 +0000 http://www.homeloanave.com/home-loans-14/723/#comment-4269 try to build up your credit score 1st- it might actually hurt him opposed to helping.. try to build up your credit score 1st- it might actually hurt him opposed to helping..

]]> Comment on Home Loans? by dale http://www.homeloanave.com/home-loans-14/723/comment-page-1/#comment-4268 dale Tue, 27 Jul 2010 11:15:43 +0000 http://www.homeloanave.com/home-loans-14/723/#comment-4268 Probably not a "better" loan, but with your added income, assuming it's regular and stable, it may help to qualify you for a larger loan. Congratulations and good luck! Probably not a "better" loan, but with your added income, assuming it’s regular and stable, it may help to qualify you for a larger loan.

Congratulations and good luck!

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