Agerage rate a 25 year old would have to pay to get a mortgage loan?
I am 25 years old looking to buy a house in CA. I make about 32k a year and hoping that if I am ever going to buy a house, now is the time. What is the average rate a mortgage broker will give a 25 year old with good credit, but with no equity or et in my name- Dude, put the bong down and wise up. You have no money. If you are serious about owning a home, you gotta prove you're worth the risk to an underwriter. Save up at least 5 - 10% of the price for homes in your area, THEN pull the trigger. The scenario you propose is exactly why there are so many posts that read: "HOLY CRAP! I am losing my home because I agreed to insane mortgage terms so I can say I cashed in on the market, but now I can not afford the mortgage payments and my credit is gonna be screwed if they foreclose, and I can not file for bankruptcy protection - HAAAAAALP! " Be smart. Save some money and do it right the first time, or you might not see a second time until you are in your late 30's
- Rate change every day, sometime several time a day. currently a little below or above 6%. But you will need something for closing costs and downpayment. FHA has a 97% that allows your seller to give you the 3% but you still need closing costs. You should find a loan officer that you are comfortable with in your area. Review your options with them. There could be downpayment and closing cost istance program locally that you could use. Good luck! I hope that helps
- So you think that you're ready to buy your own home? Hopefully you have done a little research online to make your first home buying experience a good one. First of all you should contact a mortgage broker that will preapprove you for your new mortgage. This is now more important than ever<! - It's also important that once you receive a preapproval you get busy right away looking for your new home. The reasoning for this is that with the mortgage meltdown lenders are changing their lending programs as quickly as Paris Hilton changes her boyfriends. Scary, huh? mortgages - finance. awardspace.com / First - Time - Home - Buyers - Loans.htm At this point you will let the mortgage broker now how much you would like to get preapproved for. The broker will then take a full mortgage - >loan application. The mortgage broker will also run your credit. With all this information in hand the mortgage broker will see if you have enough income for the price of the home that you would like to purchase
Knowledge Base
How long will it take the latest 3 / 4% interest rate cut to affect the mortgage and loan companies rates?
with the fed's decision to cut interest rates, i understand that banks will follow suit and lower interest rates. how fast will it take for these changes to go into place? at what point should people begin to investigate refinancing their mortgages and other loans where it will actually reflect (home mortgage calculator)
Public Records Reading - Mortgages, Do home equity loans show or just reverse and second mortgages?
i read public records when doing re research so i am wondering. i guess that only second and reverse mortgages show. and why would someone choose a second mortgage vs home equity loan? are we saying that a home equity loan automatically shows as a lien?. all mortgages and liens (home mortgage loan)
Are there any banks that give mortgage loans to people with bad credit?
i am looking to buy my first home. my goal is to get to a 620 credit score but i know this will take quite some time. i was wondering if there are banks out there that give you loans to buy a home if you have bad credit or (mortgage equity loan)
Knowledge Base: Mortgage Loan
Are there any banks that give mortgage loans to people with bad credit?
i am looking to buy my first home. my goal is to get to a 620 credit score but i know this will take quite some time. i was wondering if there are banks out there that give you loans to buy a home if you have bad credit or (mortgage loan refinance)
What are the key factors in obtaining a home mortgage loan?
my credit is not bad or fair. it's good, just below excellent. how good does your credit have to be and what other factors are key to successfully obtaining a home mortgage loan?. hi ronnie, your credit has to be at least a 640, so i am uming you will (mortgage loan refinance)
can i get a bad credit mortgage loan?
i am having a home foreclosed on, and would like to know if anyone can give me a mortgage?. that's funny. probably not. it's tough to get a mortgage now even if you have good credit. have you contacted your mortgage holder and ask them if they can re - (home mortgage loan)
Can I use my current owned home as collateral on new home mortgage loan?
my family and i live in a home legally donated to us by my father. we have ownership. can we use this home as collateral for a mortgage loan on another home in another state? if so, how does that work?. is the home worth more than the home you (home mortgage loan)
Any advice on bad credit mortgage loans?
yes. do not bother since you will not qualify. you will only be wasting the application fee clean up your credit. you need at least a 620 fico to even apply for a fha loan; 720 for a conventional. you will also need to resolve any derogatory items on your (mortgage loan refinance)
Knowledge Base: Mortgage Loan Rate
How can i get low interest rate mortgage loan?
my household my self and my wife income is around 42k per year. i am planing to buy house. will i get any low interest rate because of low income. my credit score is really good above 800. interest rate is more dependent on the type of mortgage and your (mortgage loan rate)
Do people have bargaining options when getting an interest rate on a mortgage loan?
my wife and i are buying a home for around $210k in a rural town in va. we went to a lender and were told that our interest rate would be about 6. 5 - 6. 8% and that it would be the same just about anywhere we went. we (mortgage loan rate)
Agerage rate a 25 year old would have to pay to get a mortgage loan?
i am 25 years old looking to buy a house in ca. i make about 32k a year and hoping that if i am ever going to buy a house, now is the time. what is the average rate a mortgage broker will give a 25 year old with good (mortgage loan rate)
How much interest rate would I get on my mortgage loan and how much would I pay monthly given my situation?
i am a 24yo med student in chicago looking to buy a inium. as a student, i have no steady income but do have around $30, 000 available for a 10% downpayment. my credit score is 760. can i get a mortgage with a reasonable interest rate given my credit (mortgage loan rate)
Whats the difference between the interest rate and the APR in a mortgage loan. How is ARP calculcated?
take for example a 30 - yr conforming loan at 5. 5 interest rate and an apr of 5. 98. what does that mean and what are the factors involved in determining apr. no, i do not want your example, i will use my own. the apr is the "effective" (mortgage loan rate)
