Can i pay part of mortgage with my credit card?

Here is the deal. I'm from Venezuela and i don't want to buy dollars on the black market, take the money out in suitcases -- or buy luxury goods abroad with my credit cards to exchange some money that i have back home and i don't need/want to buy anything big right now.Can i pay part of mortgage with my credit card?
withdraw cash from the cardCan i pay part of mortgage with my credit card?
it just depends whether or not the mortgage company takes credit cards or not...most don't allow it.
I'm confused with your explanation.





';Can I pay part of mortgage with my credit card.'; USA





Yes you can. Many people do it to earn points and they build up quickly if your playing 1500 or more a month. They usually pay up there credit card right away so they can do it again.





Don't take out money on your credit card. They will charge you an interest and may not be a good idea.





The only way to find out is if you call the agency that deals with your mortgage.

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Do you know how I can get a credit puller for my Mortgage company? and who?

I own a Mortgage company. I need to pull my clients credit on a regular basis. Do anyone know how I can get set up with a credit report provider. The method I've been using is not always easy.Do you know how I can get a credit puller for my Mortgage company? and who?
Equifax has a program to down load credit pull with out penalty. Every pull is good for 90 days. if you have any customers with credit problems visit:Dundealcreditrepair.com

Does the rate of the mortgage go up to the maximum after initial year?

According to my mortgage papers, I can't no pay more less than 7.85% or more than 13% in the life of my loan. Starting on Octobre of this year is going to go up, however I want to know if is going to go all the way to 13% or start less than that?Does the rate of the mortgage go up to the maximum after initial year?
It is obvious your common sense is on the same level as your spelling. You should have never accepted such a loan to begin with. Anyway loans have a initial increase and a lifetime cap. Have someone with an education read you your loan documents.Does the rate of the mortgage go up to the maximum after initial year?
Most ARM's have a maximum that they can increase in a single year. The one I had was a max increase of 1/2%. Check the terms of your mortgage to see if this applies in your case. It's unlikely that it will go all the way to the max after just one year, unless they are trying to make you default so they can foreclose on you.
Probably not.





Look at the Promissory Note, probably paragraph 4. It will state the limit the interest can change each time. Most of them I've seen are limited to 3% the first change, and 1% up or down each change after.





That doesn't mean it will go up that much, that's just the limit.





Oh, and the Mortgage may have an ';Adjustable Rate Rider'; that describes the same terms. There should not be a difference between the rider and the note, unless someone made a mistake.

How would I know which mortgage lenders allow bi-weekly payments?

I'm shopping for a mortgage right now and without calling every single company, is there a way I can find out which ones allow or don't allow bi-weekly payments? I would love to do this to save on the interest rate and to take off 7 years on a 30yr mortgage. Just wondering if there was a list anywhere. Right now Pulte Mortgage is looking best for us right now because of the incentives/hoa dues for 2 years, but I don't even know if they do yet. I will call them in the morning unless someone else knows off hand.How would I know which mortgage lenders allow bi-weekly payments?
Biweekly payments are just a gimmicky way to trick yourself into paying more than the average of the minimum payments every year.


And, a lot of lenders will charge you a fee to do this.





Since the mortgage amortization schedule is based on 12 payments per year, but there are 52 weeks in a year, if you send a half payment every two weeks you are sending in 26 half payments per year. That is two extra half-payments per year, or the equivalent of making one extra payment every year.





Even the primary mortgage companies and other lenders who accept biweekly payments usually just hold the money for the two weeks until the normal posting period--they just don't tell you that.





All you really need to do is pay as much additional principal as you can comfortably afford every month.How would I know which mortgage lenders allow bi-weekly payments?
Pulte Mortgage isn't a direct lender, they are a broker.





I haven't seen a lender that did not offer this service, and there is usually one catch: You can't send in checks, you have to be on automatic draft from your bank.
Just be carefull that Pulte is charging you a fair interest rate as well as closing costs. Those 2 years of paid HOAs could easily be eaten away by excessive fees/rates.
www.restructureyourmortgage.com offers bi-weekly payments, so do most banks. for a free quote check out the website. Best of luck to you.

How can I find information on the men and companies that commit mortgage fraud ?

My home was taken from me by mortgage fraud, I can not afford an attorney. I have legal aid. They have now given me two attorney's. They have informed me , I definently have been scammed. But because it is so detailed and so much involved , Because they are a free service only so much time can be invested into my case. If I can help by finding information out about these preditors , It will help me . as of now I'm basically screwed unless I can see if they have done this before. I do I search online for information on who has commited mortgage fraud. I've tried FBI files and many others please help me stop them from doing this to another family with children. They took advantage of me at my low time.How can I find information on the men and companies that commit mortgage fraud ?
Post it all over sites on the Internet, people will read it and be aware. Other than that, I have no idea.How can I find information on the men and companies that commit mortgage fraud ?
Mortgages are a matter of public record. Your mortgage is on record at the county courthouse in the county which the home is in. You can also search many counties by mortgage company or bank name and dates. When a lender or mortgage broker wants to get leads, they search courthouse records for homeowners. You can obtain someone's balance, rate, bank, etc. My husband and I are loan officers with a large, reputable bank. I would be very interested in hearing more about what happened to you so that I can better inform my customers and realtors. You should fight this until you are satisfied. Also, the lender that did your loan MUST be licensed in your state. A lot of brokers get away with doing loans in states where they have no license. I wonder if these people were licensed in your state? No one really checks that kind of thing. Feel free to contact me if you have questions. Good luck!

Can you get a second mortgage for half of the equity on your house?

So that your second payment will be based on a 30 year fixed rate rather than a refi. Will it be a smart thing to do. When you sell out you can pay the second mortgage with the first and still walk with remainder of equity. Is this legal and does it make since.Can you get a second mortgage for half of the equity on your house?
I don't think you're going to find a 30-year second, and seconds usually have higher rates. Better to refi with equity out and get a new 30-year fixed.Can you get a second mortgage for half of the equity on your house?
Use real numbers to understand.





Your house is worth $100k.





First mortgage is for $50k.





Equity = $50k





Second mortgage = $25k (half of equity).





If you got a 30 year second mortgage, you have to pay off your first and your second mortgage. Your overall payments will be higher than if you just had a $75k 30 year fixed. You can't ';pay'; your second mortgage with the first, you have to pay them both.





When you sell, you get the sales price - first mortgage - second mortgage, which right now would be $25k.





Many lenders will not extend a 30 year second mortgage, because it's secondary to the first - which means that if you go bankrupt, first mortgagee gets paid off first, second mortgagee gets what's left - and often times, it isn't enough to cover the debt - that's why 2nd mortgages are generally 5 years or less.

Who owns US and UK mortgage spent money?

I heard that US people mortgages are taken for 45bn and additionally 12bn from US government. UK in last years has borrowed lots of money. In banking they need only keep 10% of this money lo lend other 90%. So people have taken this money, bought houses, cars, food etc. people who sold cars and houses have bought also houses, cars, food, gas etc. but seems that now people cannot get that money back from people who have their spent money and replay mortgages. So where is this money now - I know that millioners have something, China has something, OPEC has something, but not 45bn.Who owns US and UK mortgage spent money?
The problem is that a lot of that money never actually existed in the first place. Banks don't hand you a wad of cash when you take out a loan. They extend you credit, which is really nothing more than an agreement.





The trouble happens when banks extend more credit than they could possibly cover to people who don't have the means of repaying the amount.

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Will I qualify for any mortgage with a credit score of 548?

Will I qualify for a mortgage with a score of 548? This would be for a purchase, not a refi.





No comments about needing to repair my credit please. That's a given and we're working on it.Will I qualify for any mortgage with a credit score of 548?
No, you do not qualify. You need a score of at least 620 to get an FHA mortgage and one of 720 for a conventional one.Will I qualify for any mortgage with a credit score of 548?
It's very unlikely that you could currently get a loan for a home with that score.





Read below








This is what makes up your credit score:





1. Payment history-35%


2. Total debt owed to available credit ratio-30%


3. Length of time establishing credit-15%


4. Types of credit established-10%


5. Inquiries and New accounts-10%





To build your score as quick as possible, read this.





http://www.ehow.com/how_5083173_quickly-鈥?/a>











Please vote if this was helpful.
Dear, I suggest you


http://ebiznus.com/mortgage.html





When I was a Newbie in the finance field Help was Urgently Required and i tried many internet platforms like answers.yahoo.com, dating websites, groups and other communities which really helped me a lot.


I am sure you gonna find your answer in the above link.


Regards.
Well If you have money problem and u want loan. some days before my friend having very bad financial crises so while he was searching on Internet for Bad credit loan he found a site which contain link for Geniune lender for Bad credit Loan. He checked all 8 links in that each link offer different interest rate and repayment time.


My Friend got loan of 25000$ for 15 years on 3% interest rate which should be payed annually.


Well you go to








Dixiloan.com








then go to Personal loan or Bad credit loan according to ur credit score








Check all 8 links in that in search of lowest interest rates.





Take Care


Bye!

Reverse Mortgages are not available to me until I am 62 years old. Is this age discrimination? Why not?

Equal protection under the law and other American principles should allow adults of any age to participate in any economic activity. I wonder if this has ever been challenged legally.Reverse Mortgages are not available to me until I am 62 years old. Is this age discrimination? Why not?
By your reasoning, a bankrupt 22 year old should be allowed to purchase stocks on credit. This is not age discrimination anymore than Social Security when you hit 62 is. This is part of the great stew/jig saw puzzle called balancing the economy. If we can get the retirees to care for themselves, then it costs everybody less. And naturally, banks participate because it is to their fiscal advantage.Reverse Mortgages are not available to me until I am 62 years old. Is this age discrimination? Why not?
Very interesting question! I am an attorney and owner of the website http://www.reversemortgagepage.com and think that age discrimination arguments are very weak. Moreover, age discrim falls under strict scrutiny, but there is an overwhelming purpose for this. Keep house-rich cash-poor seniors in their homes. I agree with the other poster who drew social security comparisons.
I don't think it would be considered discrimination because the required age (i don't know what age) to qualify for reverse mortgage is the same for everyone. If you met the age requirement and they said no, then it may be discrimination depending on the circumstances.
A privatley owned company, or public corporation can do business as they wish. Under your concept of equal protection, I should be able to come to your house and make you sell me your garage, just because you put up a sign that said ';garage sale';. Business' have the right to determine how they do business.
Reversed Mortages are basically you selling your house to the lender. They then are paying you a monthly sum and allowing you to still live in the house until your death. At that time the house transfers to them and they can do what they like with it. It's not discrimination, it's a product DESIGNED for older homeowners.
Why don't you just get a home equity loan. It is the same thing except you will receive the loan in a lump sum, the reverse mortgage is paid in monthly installments.
It's not discrimination.





It's a benefit for those who aer on their deathbeds and have their houses paid off (actually, a scam in my opinion).
To be eligible for a HUD reverse mortgage, HUD's Federal Housing Administration (FHA) requires that the borrower is a homeowner, 62 years of age or older; own your home outright, or have a low mortgage balance that can be paid off at the closing with proceeds from the reverse loan; and must live in the home.





This is HUD's (Housing and Urban Development) program. You would need to fight your battle in Federal court, against the US Federal Government if you believe you could win.





This is similar to VA loans, if you are not a veteran you do not qualify.





http://www.hud.gov/offices/hsg/sfh/hecm/鈥?/a>





You may find additional helpful information at www.paynotaxesforlife.com
Limgrn_maria's response is a common misconception. The house does not transfer to the lender. The house still belongs to the estate, just like always. The heirs can choose to sell the home or refinance the reverse mortgage, just like a regular mortgage.





You do not get monthly payments only. You may also choose a lump sum or a line of credit.





Now, to answer the original question: I suppose you'd have to challenge Social Security and the federal regulations governing retirement plans, since they also age discriminate.





Rick


http://www.homepropertysolutions.com

Can I get a second mortgage loan on a purchase outside of the state Im living in?

I want to help my parents buy their first home, but because they may not have a good credit score, I was wanting to apply with them to help them. How can I do this?Can I get a second mortgage loan on a purchase outside of the state Im living in?
The first thing to do is check their credit scores. I use annualcreditscore.com, and you can order each of the three major bureau reports there. You have to pay for the score. I think one is $5.95 and the other 2 are $7.95. Don't buy any other services from them. What they call debt analysis is something you can do in seconds for free. Just add up all your monthly payments from the reports, and divide by the monthly gross. That's you debt to income ratio and what they call debt analysis. Most lenders will line up all three scores for all the borrowers and use the lowest middle score.





Yes, you can get another mortgage if you credit is adequate and your debt ratio works. Depending on the lender and your credit score, your debt ratio can be 45% or 50%. Add up what's on your report, and include the new mortgage payment. Here's a mortgage calculator to figure out the payments -- does not include taxes and insurance, which will probably be part of the payment, so include those.





http://www.mortgage-calc.com/mortgage/si鈥?/a>





The next thing is that lenders don't really like non-resident co-signers. I work for a very big lender and we just don't do co-signers. Your parents would have to most likely qualify on their own credit and income. You may have to purchase the home as either a second home or investment property. They may consider it a ';kiddie condo'; which refers to the property you buy for your kid to live in while in college, but sometimes they'll do it for parents too.





One other option to consider, assuming your parents are both at least 62 years old, might be a reverse mortgage purchase. My bank does a lot of reverse mortgages, but not purchases. Try Wells Fargo, they may do them. You'd have to make a hefty down payment, about 50% or more, but there would be no requirements for income, credit score, assets, debt ratio...only their ages, they'll use it as primary res only, the house is a 1-4 family, condo or FHA acceptable manufactured home (no mobile homes, double wides unless you also own the land, or co-ops), and they have enough equity. A person who's 62 is eligible for maybe 55% to 60% of the value of the home because closing costs are pretty high on these and most people will finance them.Can I get a second mortgage loan on a purchase outside of the state Im living in?
You and your parents should contact a mortgage broker to find out what they can afford on their own, and then what you can do (if anything) to help them. A mortgage broker will look at their assets, debts, and income, and determine what they would qualify for and how much they would have to put down. He will then factor in what would change - if anything - if you were to cosign with them (and he could tell you if that is even allowed out of state from your parents).





Also, mortgage brokers get rate sheets from many lenders that include a large variety of loan products available. This is better than a particular lender, who will only know what their particular loan products are. And, different lenders might have different requirements for qualifying for the different loan products.

I have been seeking Great Mortgage Marketing does anyone have the answer?

My business is very successful but I am looking to take it to the next level. Im sick of low end websites that just sit there inactive, not providing me with any business. I also need new campaigns and full tracking ability. If you know where I can get these things please let me know.I have been seeking Great Mortgage Marketing does anyone have the answer?
HomesbyLender.com has been great for us. It ranks real well, it attacts buyers (because of the homes, people want to see homes not loans). It also has a slick campaign and lead management system. It constantly keeps me in front of people which is all I need to generate business. I found out about via Greg Frost, he has the Albuquerque market and talks about this program a lot on his tours.I have been seeking Great Mortgage Marketing does anyone have the answer?
I was at the Mortgage Planner Summit looking for the exact same thing. I finally found a marketing company for the the mortgage industry that brought it all together. the company is called Organic Sales check them out at


(organic-sales.com). The price was affordable and i think they could help your business get to that next level.
I have a website from allamode and I hate it. When you find out the answer to this please let me know.

How do you deduct your mortgage interest?

My boyfriend and I are buying a condo. I was wondering how you get the money back per paycheck. Also, how do you figure out beforehand how much of the interest you are getting back? I have looked all over the internet but everything seems like a more complicated answer than I am looking for...How do you deduct your mortgage interest?
The only way you can get your money back from Mortgage interest is to get a refund on your personal return when you file your taxes. The interest is deductible, not refundable and you can get your money back through a paycheck.. All of the interest you paid is deductible on Schedule A on form 1040 (personal tax form). You can call your mortgage company to see how much interest you have paid so far, they sometimes list it on your mortgage statement that they send every month. Or you can wait to get your form 1096 from your mortgage company which tells you how much interest you piad in the year. They usually mail them out about now You can also find the amount of interest paid on your amortization table.How do you deduct your mortgage interest?
GET YOUR SELF A COPY OF THE IRS 1040 TAX FORM AND TAX TABLE. The post office should have one or can direct you to one. These books let you know the answer to your questions, you can do the forms in pencils and you will learn a lot about taxes.





Basically the form adds up all income to get a gross income. Then subtract deductions part of which is the interest on mortgage, taxes paid, dependency allowances, losses on capital ,(and more) - this gives you the TAXABLE NET INCOME. The Taxable Net Income is applied to the tax table (in the book) and the taxes due are derived. Then you subtract the taxes paid, if the answer is (-) negative this is the over payment and your refund. If (+) this is the balance due at IRS by 15 April.
What they mean when they say ';deduct the mortgage interest'; is that at tax time, you can deduct what you paid in mortgage interest from your taxable earnings.
Interest paid via mortagage payments only can be used on the 1040 not 1040A tax forms. By means of itemizing on each of your 1040 tax forms and each of you filing separately. Each of you would be allowed to use only half of the interest paid via mortgage payments.





The money back per pay check has nothing to do with interest paid in your mortgage. I believe you are talking about the Earned Income Tax Credit which you can op to get early in your pay checks, only if you are getting a refund at the end of the year and only if your employer particiaptes. Check with the IRS.

Who will give me a mortgage with a sitting tenant?

I have a property with no mortgage, but I have a sitting tenant who pays me 拢266 per month. I have been told the property is worth 拢110k with the sitting tenant and 拢175k without. I would like to raise 拢50k to use as deposits on further buy to lets - but I am not sure which lenders will lend. Anybody have any clues?Who will give me a mortgage with a sitting tenant?
Hi, sorry to say that banks and building societies do not grant mortgages where there is a protected tenant in situ. If you were to default on your mortgage or loan, they could not get vacant possession because of the protected status of the tenant. Even finance companies will not lend. If you don't declare the type of tenancy or suggest to the lender that it is an ordinary Assured Shorthold Tenancy (AST), your solicitors will have to and must be truthful before the funds can be released. If you have not been accurate, your offer will be withdrawn and you will be out of pocket for any valuation and arrangement fees as well as any abortive legal costs. If you did find a lender, the rates of interest would likely be prohibitive.





Protected tenancies have recently become rather difficult to sell even to some specialist companies as they rely on getting vacant possession in the future. When these companies do get vacant possession, they need to sell and at the moment, because of the state of the market, they are reluctant to buy at anything other then sensible percentages.





In regards to market value, recent auction results are suggesting that protected tenancies are now only achieving 50% to 55% of vacant possession value. The price paid is dictated by various factors including the age and life expectancy of the tenants and whether or not they have dependants who will be able to succeed the current tenant on his or her death.





You would be in a much stronger position if you sold the sitting tenancy and had a substantial amount to buy a few bargains as the property market declines further.





Buy to let is not dead, but if you purchased property in the last few years with little money down, you probably have no equity left. Mortgage rates have increased which will have eaten in to rental income and with no capital growth, investers are few and far between. However, as the market declines further and repossessions increase, there will be a market for investors.





A simple rule to use is this: aim to acheive between 8% - 8.5% gross per annum. To do this take the annual rent (research actual rents acheived for similar properties) and divide this in to the percentages as above which will give you the price to pay for your property. The initial first year return will be slightly lower as you will have costs like stamp duty, solicitors fees etc. Don't forget that if you are buying flats, you should take in to account annual ground rent and service charges. For all properties, letting agents costs, buildings and contents insurance, gas and electrical safety tests and a contingency for general maintenance should also be included along with any ';void'; periods. Allow 20%-25% of your annual rent to cover such costs. Don't forget that interest rates can go up as well as down and be sure that you can withstand any possible increases.





At present, your income from the property is very low because the rent is regulated. In fact, you are acheiving a return of 3.6% gross per annum. This is calculated based on the capital you could release if you sold at 拢87,500 or 50% of the market value. Not a great return and you would be better off in a quality savings account. If you where to add in to the equation that inflation is running at 3,2% per annum and house prices are forecast to decline by at least 10% this year and next, it probablty feels like standing in a shower and tearing up fifty pound notes. Remember, anyone can make money in a rising market. What sorts the amateurs from the professionals is making money in a falling market which is all about timing and opportunity





There are one or two companies that are buying....if you need any further help or advice, please email me.





Best wishesWho will give me a mortgage with a sitting tenant?
Hi,





Check this site you will get tenant loan http://www.ukremortgagerate.co.uk/100per鈥?/a>
Might be worth looking into the options for a homebuyer company I know they can be quite helpful particularly for people with tennants
Anyone who does buy-to-let will look at the proposition. Money is short at the moment, so you'll need to make it look attractive.
Are you crazy? Buy-to-let has passed its sell by date as a get rich quick scheme.

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So, how much stimulus can I get if I quit paying my mortgage, have five illegitimate children and quit my job?

Will the government pay down the principal of my loan and lower my interest rate?


Will they extend unemployment benefits?


Will they give me food stamps?


Will they send my children to college?So, how much stimulus can I get if I quit paying my mortgage, have five illegitimate children and quit my job?
OBAMA: ';We have launched a housing plan that will help responsible families facing the threat of foreclosure lower their monthly payments and refinance their mortgages. It's a plan that won't help speculators or that neighbor down the street who bought a house he could never hope to afford, but it will help millions of Americans who are struggling with declining home values.';





THE FACTS: If the administration has come up with a way to ensure money only goes to those who got in honest trouble, it hasn't said so. Similarly, the head of the Federal Deposit Insurance Corp. suggested this month it's not likely aid will be denied to all homeowners who overstated their income or assets to get a mortgage they couldn't afford.





';I think it's just simply impractical to try to do a forensic analysis of each and every one of these delinquent loans,'; Sheila Bair told National Public Radio.So, how much stimulus can I get if I quit paying my mortgage, have five illegitimate children and quit my job?
None, except for possibly an extension of unemployment. The stimulus is for people who work, and the unemployment is there because you did work in the past and is coming out of your own pocket anyway.





Michman: Actually, the weed I smoke is fairly good quality. And having spent some time in Amsterdam, I know quality.
We where just having this discussion a few minutes ago with our 25 year old son. it's like why do we bother to get up and go to work any more. We're tired ! I want someone to clean my house to can they pay for that too?





at the rate they are spending our money the people in the middle class are fast becoming the poor !
Sure. Go ahead. If the idea of living below poverty level and barely surviving turns you on, have at it. It's not like I have a choice as to whether or not to support you. Enjoy the projects once you finally lose the house.
the recent porkulus measure seems to be mostly aimed at helping government employees. So being a screw up and screwing off a lot is not enough. You'd have to turn pro, and get a government job.
NONE


unless you are going to physically pull it from right-wing fantasy world.





why not try it and find out, if you think you could possibly get something.


Will you denounce reality when you get nothing, like right-wingers usually do?
Yes to all the above.





If you were an illegal, the Government would pay for everything for as long as you lived. To bad you were born here.





Something very wrong with this picture.
0 read the plan and educate yourself before you speak.





Obviously the thumbs down come from people who prefer not to know what they are talking about.
Absolutely. You are the type of people that make government worthwhile : ) the type of people that the Bush administration shunned.
Ask the Octowhore in California.
Obama has a plan just for you! It's the working people who get the shaft.








what is ';Ghost of Tom Joad'; smoking??? Don't you know the cheap stuff makes you delusional?
Based on what you have written, none.





Learn about what you are asking about, before making yourself look like a fool.
Yes


Yes


Yes


Yes





You'd be a Democrat HERO!!





You'd be the new DNC Posterboy.
I hope so because the tools that got the adjustable intrest rate should just be homeless if they can't pay it
Now, here's a guy who knows how to get results from the federal government !
no no no no no.


you would hate yourself.
Do you live in America legally? If so, I'm afraid you're out of luck.
Yes, to all of the above.

How do I find free grants to help me pay off my mortgage and start a business on the internet ?

and to help me start up a lucrative internet businessHow do I find free grants to help me pay off my mortgage and start a business on the internet ?
In your dreams. That's the only place you'll find them.How do I find free grants to help me pay off my mortgage and start a business on the internet ?
this is exactly what all of us would like to know.





i don't think there is an easy way.

Is it OK to apply to more than one lender for a mortgage so I can accept the best offer?

I am a first time home buyer and would like to shop around for the best deals/rates. I'd like to get pre-approved for a loan. I'd also like to shop around for the best terms, interest rates, etc. I'd also like to make sure I am pre-approved for the right amount (for the house that I want and can afford). Is it a good idea to apply for pre-approval to more than one lender so I can pick the best offer? I know it might be negative for a lender to see my credit report be pulled from different lenders. Would they see that as someone looking for the best loan or as someone looking to over extend their credit? Would they be able to tell the credit checks were pulled for a mortgage application? I'll probably have more questions, but I guess I should wait for the answer to this one before jumping the gun. Thanks in advance.Is it OK to apply to more than one lender for a mortgage so I can accept the best offer?
Don't let anyone pull your credit report until you have made your choice. You can get your score yourself then let the lender know the number. You can call around yourself and then compare rates on the same type of loan. Go for a simple straight forward loan. No variable rate, balloon payments, PMI etc. Talk to as many lenders as possible and write down everything each one says in a notebook. I have found e-trade to be very forthcoming and direct with good rates. Major banks can have decent loans too. Beware of companies who advertise on the radio. Trust no one until you do your research. Find out what the loan will cost as if you were going to write them a check for all the fees instead of letting them roll it into the loan. You'll be very surprised at how many don't want to answer that one. Also make sure there is no prepayment penalty. Some of the big advertisers on the radio charge enormous prepayment fees (if you need to sell or refinance) and are very sneaky about this. It is very easy to get financed. Make sure you can easily afford the payment. Most lenders will tell you you can afford a payment much higher than what you actually can while still eating. Good luck- arm yourself with knowledge and you'll do just fine!





You do not want to apply for many loans!!! By getting your own score you can use this info to shop your loan around. Sometimes realtors choose lenders because the lenders bring donuts to their offices. Call every mortgage company you can on your own. When you have narrowed it down then ask around. Find out who other people you know have their loans through and why they chose them. Also by getting your credit report yourself you have time to check for and fix any errors that might be on your report.Is it OK to apply to more than one lender for a mortgage so I can accept the best offer?
that's good, b/c we all know that when someone checks our credit, it goes down a little. So when you do it like this,say w/in a few (3) days of each other, then it's only counted as being looked at once instead of a lot. make any sense? A mortgage lady told me that once. So...shop around, and get the best deal you can. after all, you're the one that's going to be paying for that house, not them. :)
get a mortgage broker.





it is a mortgage broker's job to search for a deal for you and the broker is paid by the mortgage company.
You should do this. It is recc'd and the credit scores will allow this shopping around process for 30 days without adverse consequences. I would shop till you find the best fit for you.
I think it makes sense to shop around, sure!
As a homeowner, %26amp; former applicant of several past mortgages, I highly recommend that you shop around for the best lending rate. Of course, %26amp; the 1st one that tries to intimidate you out of that option should be the 1st one that you cross of your list of potential lenders.


Getting a pre-approved loan is a great idea. It gives you a solid idea of the kind of house that you can afford to buy.


Of course you won't have several loans lined up all at once. You will have several quotes in hand after you have shopped around, %26amp; once you decide, you will sign up for one loan, %26amp; one loan only once you have found the house you are going to buy.


You won't actually get a loan until you can show your lender an offer to purchase.


As long as you do the final purchasing transactions through your real estate lawyer, no lending institution will perceive you as trying to over extend your credit.





You have used some very sound thinking in your planning to buy a house so far, so keep up the good work.
Yes, most lenders will know what the credit checks were pulled for. The credit report will show the agency that pulled it and the lender will most likely recognize the agency by name and assume what is happening. you will lose points, so choose your lenders carefully. the points come back after a short time (I think its 30 days...not sure), so you might spread it out. say over several weeks.


What you could do is get a copy of your credit score before you go in, that way you will know exactly what you have to offer. Don't let them try and swindle you into taking higher interest rates because of lost points due to credit checks. Regardless of what they tell you...until you sign the paper, you have all the balls in your court. It is very wise to shop around. You know what you have and what you are capable of paying. Don't settle for less than the best deal.
It is not only ok, but recommended. Be sure to apply for them within a 14 day period of the first one, however, in order to avoid multiple hits on your credit report. A lender will see that the multiple hits were from rate shopping and on a mortgage (done within 14 days) won't affect you much, if any at all b/c it's not a revolving line of credit (credit card). The 30-day rule is untrue - stick to 14 days and you will be fine.





Shop rates with banks, mortgage brokers and private lenders and go with the one with the best rates AND terms. BE CAREFUL of shady lenders - only use reputable ones. I would suggest contacting a local Realtor to steer you in the right direction.





A mortgage broker is NOT always paid by the lender, either. Be careful with this b/c you often times will end up paying a brokerage fee around 1-2% of the loan.





Again, contact a local, reputable Realtor and let them help you through it with professional guidance.





I also recommend NEVER using an online company unless they have a local branch that you can visit when things go to hell in a handbasket. If you cant walk into someones office and demand an explanation for something, dont deal with them. Your hands are tied when it comes to online companies.
uh yeah, that is the whole idea---apply to more than one so you can get the lowest rate! i am so happy for you because it has been one of my dreams to own a house and my fiance and i are trying to get one, as soon as he cuts the f*cking apron strings!
You credit report is constantly being checked by companies you currently do business with and companies that are considering you as a prospect. The company who is making the request is documented to your credit file.





I recommend you try eLoan.com. You make one application, and multiple lenders send you their ';best deal'; offer as they are competing with other lenders.
As everyone has written it doesn't hurt your credit rating to shop around for a mortgage to help purchase your new home. You are also correct that it is important to be pre-approved. It clarifies your price range and lets all realtors involved know that you are serious about your offer.





I am a mortgage broker and am licensed in 50 states. I deal with first time home buyers all the time and can help you throughout this big decision. Feel free to contact me at any times with any questions.





John Gonzalez


(818) 645-0585


jgonzalez@pffsi.com

Where can I find a mortgage if I have bad credit?

I don't have very good credit but I want to be a first time homeowner. What are my best options?Where can I find a mortgage if I have bad credit?
If you have bad credit, I doubt that they will give you a mortgage loan now that the economy is so bad.Where can I find a mortgage if I have bad credit?
WAIT.


BUILD your credit.


SAVE for down payment.


No one OWES you a home except yourself, and if you're unwilling to make it happen, why should the government or lenders?


6-15 months of paying all your bills in full and on time, paying down credit cards balances, paying 3-5 times credit card minimums, decreasing credit spending, decreasing debt, will have a FAVORABLE impact on your credit rating.


You need 3-5% down payment to buy home. The Nehemiah grants are gone, and 0% down loans are thankfully gone.


Take some personal finance classes at local community college.


You CAN do this if you want it and persevere! Best of luck!
Basically your ONLY option is to get your credit score up to a good score, and save up for a down payment if you haven't already done that.





For several years many lenders gave mortgages to people who didn't qualify and couldn't afford them. Eventually they couldn't make the payments any more - that's a lot of what started this whole wreck of the economy we have now.
You can use credit repair agency to fix your credit, for example this site - credit-report-free.totalh.com


credit-report-free.totalh.com


They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.


After credit repair you can get the mortgage with minimal interest rate.



Build up your credit score to at least 700. Save at least 20% down payment plus closing costs. Have a track record on your job of at least 3 years.
Right now there are not many options.

Who qualifies for the government mortgage plan? Is there any good websites that explain this?

It sounds as if the govt is just giving money to anyone who made a mistake.Who qualifies for the government mortgage plan? Is there any good websites that explain this?
LMAO! This will take so long to put into place. Just because they approved it, Fannie %26amp; Freddie have to make their guidelines to it %26amp; then each lender that sells their mortgages to Fannie %26amp; Freddie have to make their own guidelines. It is a joke. I would not expect anything for about 6 months.Who qualifies for the government mortgage plan? Is there any good websites that explain this?
Yes, you can go to Hope Now Mortgages dot com and they have very good explanation of the bills. Most of them ( Hope for Homeowners, Freeze Rates, Foreclosure bill, FHA Secure, etc)


They even have the bills posted if you want to read exactly what the government announced.

Report Abuse

Since it hasn't been finalized yet, no there aren't any websites explaining how it works. The House passed a bill today, but the Senate then has to pass it, and the president sign it.





There is an element of money just being given to people who screwed up, but it's support for better mortgage terms, not just a free house - you still have to pay the new mortgage.





The bill is HR 3221 if you want to track it down and read the bill itself.

Where can I find a mortgage if I have bad credit?

I don't have very good credit but I want to be a first time homeowner. What are my best options?Where can I find a mortgage if I have bad credit?
If you have bad credit, I doubt that they will give you a mortgage loan now that the economy is so bad.Where can I find a mortgage if I have bad credit?
WAIT.


BUILD your credit.


SAVE for down payment.


No one OWES you a home except yourself, and if you're unwilling to make it happen, why should the government or lenders?


6-15 months of paying all your bills in full and on time, paying down credit cards balances, paying 3-5 times credit card minimums, decreasing credit spending, decreasing debt, will have a FAVORABLE impact on your credit rating.


You need 3-5% down payment to buy home. The Nehemiah grants are gone, and 0% down loans are thankfully gone.


Take some personal finance classes at local community college.


You CAN do this if you want it and persevere! Best of luck!
Basically your ONLY option is to get your credit score up to a good score, and save up for a down payment if you haven't already done that.





For several years many lenders gave mortgages to people who didn't qualify and couldn't afford them. Eventually they couldn't make the payments any more - that's a lot of what started this whole wreck of the economy we have now.
You can use credit repair agency to fix your credit, for example this site - credit-report-free.totalh.com


credit-report-free.totalh.com


They can clean lots of bad stuff from your credit report - and do it much faster than yourself, so your credit will go up fast.


After credit repair you can get the mortgage with minimal interest rate.



Build up your credit score to at least 700. Save at least 20% down payment plus closing costs. Have a track record on your job of at least 3 years.
Right now there are not many options.

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steroid cream

Who qualifies for the government mortgage plan? Is there any good websites that explain this?

It sounds as if the govt is just giving money to anyone who made a mistake.Who qualifies for the government mortgage plan? Is there any good websites that explain this?
LMAO! This will take so long to put into place. Just because they approved it, Fannie %26amp; Freddie have to make their guidelines to it %26amp; then each lender that sells their mortgages to Fannie %26amp; Freddie have to make their own guidelines. It is a joke. I would not expect anything for about 6 months.Who qualifies for the government mortgage plan? Is there any good websites that explain this?
Yes, you can go to Hope Now Mortgages dot com and they have very good explanation of the bills. Most of them ( Hope for Homeowners, Freeze Rates, Foreclosure bill, FHA Secure, etc)


They even have the bills posted if you want to read exactly what the government announced.

Report Abuse

Since it hasn't been finalized yet, no there aren't any websites explaining how it works. The House passed a bill today, but the Senate then has to pass it, and the president sign it.





There is an element of money just being given to people who screwed up, but it's support for better mortgage terms, not just a free house - you still have to pay the new mortgage.





The bill is HR 3221 if you want to track it down and read the bill itself.

How do I get my ex-girl, who left, off the home mortgage? Do I refi or do a quit claim deed to get her off?

The mortgage is in both our names. Can I refi with my parents as co borrowers? Please help, I am over my head, and I don't want to lose the house.How do I get my ex-girl, who left, off the home mortgage? Do I refi or do a quit claim deed to get her off?
There are two separate issues here, the mortgage and the deed..





Whether you can refinance without her is up to the lending companies. In most cases, with your parents as co-signers with good credit, you should be able to pull this off if your income is close to what is needed.





If she is also on the deed to the property, that will need to be handled via the county records office (this is where the quit-claim could come in).





Handle the mortgage first would be my suggestion, contact your lender and explain the situation, see what they can do.How do I get my ex-girl, who left, off the home mortgage? Do I refi or do a quit claim deed to get her off?
Stop.


Deep breath.


Call your lender. Explain. ASk them for advice.





You can't Q/C her interest. Only she can do that. (And a Q/C is the WORST way for her to deed out. Warranty deed or deed of gift.) And if you re-fi without an agreement from her to deed out, you may be giving her an interest in the house she may not deserve.





After you have talked to your lender, talk to a lawyer

What is the easy way to get the best deal on a mortgage.?

Not looking to get a mortgage right now but would like to know.What is the easy way to get the best deal on a mortgage.?
The best way to get the lowest rate varies. However, you should look into credit unions. they usually have the best rates. Getting the best deal varies. You should have a FICO score over 700 and your debt to income ratio should be in your favor.What is the easy way to get the best deal on a mortgage.?
Lendingtree.com (http://lendingtree.com/version/defaultv1鈥?/a> has been VERY good to me. They will give you up to 4 offers (I was given 6 offers) on your loan needs. If you use Lendingtree, make sure you take advantage of their partner bargains. I am a Priority Club member (Holiday Inn) and I recieved enough Priority Club Points by refinancing through LendingTree and providing my Priority Club number when appling for the loan that I recieved SIX FREE NIGHTS of rooms (twelve FREE rooms if I chose Holiday Inn Express for every night in a non expensive area), was ';promoted'; to Platinum level which entitled me to FREE upgraded rooms (from regular to suites) with NO EXTRA COST, was treated as a king because of my ';status'; with them. This status lasted for a calandar year, and it was WONDERFUL. I know LendingTree has many other partners (not all of them are listed as partners on their website, so do some research) ... anyways, find a company that you want a bunch of benifits from and go through the steps of getting both your loan and your benifits that you want. BTW: this does not effect the outcome of your loan. LendingTree does NOT loan money, they simply match you with creditors. The creditors don't know you got these other benefits. Pretty cool setup

Are the Democrats subverting the Mortgage Crisis Fiasco to get Obama elected?

';Economic Fears Boost Obama';....well, then, to whose advantage is it to keep our economy careening with this Fannie/Freddie thing, especially when the hearings are conducted by certain Democrats who themselves shared responsibility for creating the mess?





By means of a delay here, a wrench thrown in there, subtly, enough anxieties can be churned right up until election day...





What could be better for Obama/Biden? Or worse for our financial security?Are the Democrats subverting the Mortgage Crisis Fiasco to get Obama elected?
I won't put all the blame on Obama. There is plenty of blame to go around, but the Dems bear their share. It was the Dems who pressured lenders to loosen standards for awarding mortgages so that home ownership could go up amongst their constituents. People were getting loans they couldn't possibly afford just so the Dems could claim that thanks to them, home ownership was rising.





And don't tell me about the deregulation bill. That bill was passed in 1999. Clinton worked with Congress on that bill and signed it into law. If he was so oposed to it, he could have vetoed it. Period. The Republicans wanted deregulation and the Dems wanted increased home ownership. They both screwed it up.Are the Democrats subverting the Mortgage Crisis Fiasco to get Obama elected?
Do you know what I find Ironic about your question? For years republicans have called democrats ';tax and spend democrats';. What's ironic is that now you are criticizing democrats for not writing a 3/4 of a trillion dollar check fast enough. You are also criticizing them for asking legitimate questions, questions some republicans are asking as well, about how the bail out will be structured. What is very clear from your question is that it is based on sound bites from right wing blogs and talk radio and that you ultimately have no idea what you are talking about.
';Subverting?';





This bailout is a bum rush, trying to panic us into handing investment banks a trillion dollars with no strings attached. Most of the stiffest resistance, thank God, is coming from the few real conservatives left in the GOP, who point out this plan has no details, no accountability and nothing in it for the American people except Paulson's expectation it will help the liquidity crisis and let wall Street go back to throwing moeny around like drunken sailors in a whore house whil epaying themselves $100MUSD bonuses for failing miserably.





Have you read the plan? I have. My god! ';Give the treasury secretary power to do anything he chooses at any time, not subject to review or oversight by anyone, to the tune of 700 billion up front in a lump sum.'; What moron would sign off on that?





Borrow and spend, borrow and spend, borrow and spend till no one will loan us any more money and the next twenty generations are in debt to their eyeballs.





The GOP credo never changes. Steal from taxpayer and give to the rich, give to Africa, give to Georgia, give to Israel, and Egypt and Pakistan and Halliburton, but the American people and their needs.... screw those idiots.
Let's see, the Bully Bush Gang spends $700,000,000,000 on a war to nowhere, then the markets drop by THE EXACT SAME AMOUNT, .....................then you blame the democrats?





Bush is doing everything possible to hijack the next president. He has vetoed everything the Democrats have sent to him, if it didn't include another $80 billion for his WMD search, for OIL.





And you think McBush can save you? Old Grumpy McCain doesn't have a clue, he doesn't understand economics, only more surge, more war, remember?





Obama/Biden 08!..
Of coarse. They will do anything to get Obama elected. They are going to have a tough time in the debates defending against McCain's comments to congress on the fall of the financials. He said this was going to happen, and it did. Democrats only have the fear tactics to fall back on. All their little sheep keep following.
the hold up is mcSame. He's the one playing politics with this. Until he gets on board, no bill will be passed. most, Republicans and Democrats, don't trust him. They are afraid that if he votes against the package, he will use it as a political football. Neither the Democrats or the Republicans want the ';maverick'; to be able to demagogue this bail out. there will be no bailout until he gets on board.
That has to be the most asinine statement I have heard so far today. If anything the Bush Admin. has been trying to stave off this economic meltdown until after the elections, and they failed. What is going on now affects both candidates and our country as a whole, and I highly doubt any American wants this garbage dragged out any longer than necessary, if they can fix this first time, we are all in serious trouble.
How about you place the blame on the people in charge and stop trying to spin this as if it is OBAMA鈥檚 fault. That is a great Idea just rush to approve a BS plan and give away 700 billion with no oversight! Once again we have some daily yahoo blogger crying for the rich to be bailed out and to top it off you agree that we the taxes payers should take it in the shorts. The logic is crazy and even some GOP Diehards agree this plan is a bad one.
Democrats in unison doing it? No, I'm not sure that's possible. There is no doubt that some are trying this tactic though. My fear is that the bailout should have been completed, if it needed to be done at all, and that turning it into another multi-page self-interest package that we're defeating the purpose. I don't believe all legislation needs to be bipartisan, but this is one of those cases where they've got to put political differences together and ACT.
What I want to know is the loss of cash were the government not to do the bailout.


I don't care what party it is, as long as there is some accountability and honest workings for all Americans, not just those who were not responsible enough to see they couldn't pay their ridiculous loans.


How much will be lost? Is it more that $700 BILLION dollars?
No





Bush wanted to give his buddies in Wall Street a trillion dollar tax bailout, with no strings.





The Democrats want regulation attached to this, and to make sure the money gets paid back.





Sorry if this doesnt fit in with what you think. But I dont want to pay more taxes and set up the greatest socialist experiment ever just to help out Bush's Wall Street friends.
You display an ignorance of who or what is really responsible and instead choose to shift the blame to whoever you do not like, because you rarely bother to read a newspaper and probably have not read a single thing about the banking industry until last week.
While I want to see Obama get elected, I do think there is a conspiracy to keep the economy in the crapper until after our election. But I think it's for our own good, right now.
Yes they are. The bailout will pass only when Republicans allow the bonuses of the CEO's of the failed companies to be rescinded. They will give in simply because they want McCain in office. Its a game. Plain and simple.
well since mcain was in support of deregulation until recently and introduced a billin support of it in 2002.He is partially responsible for the collapse of the banking system
Where do you live in la la land this economic crisis wasn't something made up by Democrats it's real and all due to the incompetent of a Republicans lead presidency and congress .





OBAMA/BIDEN 2008
No they are actuallyt rying to ensure that this never happens again rather than play politics by rushing to put a bandaid on the Problem to make It ';appear'; fixed until the election
I'm sure you think Obama orchestrated it all, right? Whoops, I forgot, podunk Republicans can't handle big words. Forget it.
No... everyone truly is incredibly alarmed by the crisis. It's just by chance that McCain is so rich that he doesn't get it.
NO THE TRUTH WILL GET OBAMA ELECTED .
Is there anything you won't blame on Obama?
Yes they are. Don't forget Obama's comunnist-islamist ideology. That's the way they work.
I am more alarmed and fearful than ever if a Community Organizer gets elected!
Yes I believe they are. Keeping the American people scared is their only way of winning.

How much does a new mortgage affect your credit score after making on time payments for 6 months to a year.?

I just bought a house and am wondering how it will affect my fico. I have a good job and will never be late on my payments. I know your fico lowers at first, but what kind of point boost will a paid on time mortgae give your fico?How much does a new mortgage affect your credit score after making on time payments for 6 months to a year.?
I'm not sure exactly, but I know they look at your total outstanding credit (mortgage, loans, credit cards) and compare that with what is paid off. I would guess it would be back to ';normal'; after a couple of years of mortgage payments, assuming all other credit vs. outstanding loans remains equal.





If you're looking for a new loan on something, I would probably wait another six months to be sure you have a full year of mortgage payments.How much does a new mortgage affect your credit score after making on time payments for 6 months to a year.?
This is difficult to determine. The bureaus do not provide any matrix of formulas used to determine a credit score.





Here is some additional info. Hope this helps.

Can I refinance my current mortgage and equity line into a 30 year fixed?

I took at 80%/20% loan to get into my first house. 5 year fixed ARM (4.5%) and equity line for the 20% @ 10% (adjustable). I have never missed a payment on either of these loans over the 3+ years. I would like to turn this loan into a loan to eliminate the equity line. Initial loan was 200k, I currently owe 190k on the loan.





Can I do this without putting cash down (20%)? I do not have 20-40k to put on this refinance loan as my wife and I each are full time employees and full-time graduate students. What options are there out there?Can I refinance my current mortgage and equity line into a 30 year fixed?
What you want to do first is find out what your house is currently worth. Visit http://www.zillow.com to get a rough idea.





If you haven't missed any payments and you have provable income suitable to support the loan you want to find a HUD-APPROVED FHA LENDER in your area.





With an FHA loan you can combine the two loans up to 97.75% of your home's value.





In closing, I have nothing against Mortgage Brokers. Just don't use them for an FHA loan. If they can do it at all, it will take up to 3-months to get done. An FHA Direct Lender can underwrite and close your loan in 7-days.





Good luck. Don't be afraid to ask your loan officer tons of questions. We get paid pretty good to answer them.Can I refinance my current mortgage and equity line into a 30 year fixed?
You probably can but should contact a local lending source to see where you stand.





Don't waste your time contacting the scumbag spammers who post their ';I can help!'; garbage here. Most of them are scammers working out of Nigeria or Latvia or some other God-forsaken hellhole. Even if they're not, they're not bright enough to read the CG and TOS so would you REALLY want to trust them with a major item like a mortgage??

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I want to shop for mortgage rates and all of them wants to run my credit. Will it affect my credit score?

I am trying to refinance my home equity loan. Each time I try to call a lender, they all want to run my credit report which I understand because that is the only way to check my FICO, debt ratio and etc. But, won't it affect my credit score? I had 4 lenders checked my credit report already. Pls help.I want to shop for mortgage rates and all of them wants to run my credit. Will it affect my credit score?
Biggest myth of all!





You get hit one time and that is on the intial pull. You have 30 days to have your credit pull for a MORTGAGE LOAN/HOME LOAN without it effecting your credit score. My advise is stay under 10. If you had it pulled by four people call them up and ask each person one of the following: what the highest score was, what the middle score was , and what the lowest score was. Here you can determine your middle score in which lenders use. Than ask are there any derogatory accounts on my credit report and if so from where. If there is than get the phone number and account number so you can call them. If there are lates than ask for a copy. In some states you have to provide a credit report to the consumer if they had there credit pulled its a law by that individual state.





If you want a Heloc than run down to a Credit Union or Bank they have best rates with low fees.





Need additional help please email me.I want to shop for mortgage rates and all of them wants to run my credit. Will it affect my credit score?
Greetings-





You've gotten a lot of great responses and a lot of good advice.





My recommendation is to get a copy of the commercial credit report that one of them pulled (as this score can be different from the personal one.) Then use this to shop around a little (i.e., what rate can do you have for a median credit score of X?)





The loan officer can then use this as a basis for what to look for, and then when you've decided, they can run your credit through their system at that time. This will minimize your credit hits.





Good luck and best wishes.
Each time someone 'inquires' about your score by running it, it gets factored into your score.





Would you be able to give them an idea of your score ? I've done loan scenarios before with the client just giving me an approximate number, mind you that if it's lower after actually choosing a mortgage broker then it'll change the whole 'game' or loan that may be available to you.





Call me, or email me, I consult for free...





Antal


Surefast Mortgage





atoth@surefastmortgage.com
No. Typically, Fair Isaac models are smart enough to recognize you're shopping for a loan. The key is to do the shopping within a relatively short period of time (couple of weeks rather than couple of months).
A credit check will surely get your credit score down by a few points. Why don't you consolidate your debts:


The following articles might help you:





Debt Consolidation - Get Out Of Debt


http://www.askaquery.com/Answers/qn1643.鈥?/a>





How to Hire a Debt Counselor?


http://www.askaquery.com/Answers/qn1584.鈥?/a>





What is Debt Relief?


http://www.askaquery.com/Answers/qn1583.鈥?/a>





Debt Management and Building Wealth


http://www.askaquery.com/Answers/qn1581





How to lower your debts?


http://www.askaquery.com/Answers/qn1576.鈥?/a>





How to reduce debt : How to lower your expenses?


http://www.askaquery.com/Answers/qn1577.鈥?/a>
Yes it will effect your overall score. Each hit without a loan being offered is just like saying your not creditworthy. I suggest you pull your score yourself. You are allowed in some states a free one every year. Tell the lending agency you have your credit score in hand. That gives you one added leg up. Why? The best defense against an agency trying to get that extra percent, is to already know your score going into the deal. The agency can't tell you anything you don't already know. If they tell you something different, maybe you need to look elsewhere. Equifax, Experian, and Trans union are the reporting agencies. Collect all three at no expense to you Some you can order right over the phone. You can find their numbers on line.
idk?w\b asap pleaz
Whenever there is a check done on your credit, it will show up on your report. It won't affect your score, but if you have been denied, it will not look good to the institution presently doing the check.
what I suggest my clients to do is pull a copy of their own credit report. inquiring about your score will affect it depending on how many times in a certain time frame it is done. pull your own credit report fro all three bureaus and retain the copy. this way, you can have your score at hand as well as the actual report the loan officers need to look over. this way you're only checking your score once and within a months time or so you can shop it around and see what the best offer is. credit reports over 30 days will not be accepted so you have a minimal amount of time to shop around. but with your own report in hand it will cut down on time, inquiries and overall hassles. should you still not be satisfied with any of the offers you get that month, you can still use your score from it and give that to the loan officers to run their prequals. we really don't like or need to run your credit if you already have it so, like I said, would make things a lot more quicker. since all we really need is your middle score, you can just call any of the officers up and say my score is so and so , what can you do for me? real simple and takes away from dozens of officer checking your credit only to waste your time in the process. if after the 30 days are up and still don't have anything, use your score to run prequals and when you DO find one that is to your liking, then you can have them check your score again to make everything kosher.
yes it will since you are the one asking for the finances
it should NOT affect your score if you shop for rates with banks/mortgage companies within 30 days. typically, mortgage companies and banks do a ';soft'; credit score pull, which means it DOESN'T affect your score.





however, you should ask each loan officer, each time you apply: will this be a soft or hard credit pull?
This is the number one problem that most borrowers run into when looking to get a refinance..





What mortage company is best for me? Should i shop around? What will it do to my credit?





These are very common questions..and you are absolutely correct..





Every time you pull your credit, it negatively effects your score..





This is why i suggest to anyone looking for a mortage, whether it is a purchase or a refinance,


to talk with someone that has a portfolio of investors they work with. There are a couple reasons i suggest that:








1. If a loan officer can shop your loan to multiple lenders they are bound to find one or more willing tho lend to you. By looking at multiple options and programs you will be sure to find the lowest costs and rates...





2. If you on your own call multiple banks to see what you qualify for, EACH AND EVERY LENDER will HAVE to pull a seperate credit report. The more times it is pulled the worse your credit gets. Now, when you work with a loan officer that can shop among their investors, they only have to pull one credit report, and use that copy to shop mortgage lenders for you..





So not only do you keep your credit score where it is, you dont have to worry about any of the busy work..you let the loan officer do it for you..





The most important thing to realize is that I as the loan officer with multiple investors to work with, am fully willing to keep shopping to different companies to find the best program for your needs.








There are many mortgage companies out there, all having different things to offer. Fortunately for you, i can find out which one wants to lend to you at the lowesr rates and fees.





My name is Jason Fry, and I am a loan officer with Providential Bancorp, a nationwide mortgage lender. I'd be happy to assist you in a refinance, or at least be able to let you know exactly what YOU QUALIFY FOR. You can then make a more informed, and educated decision whether it would be the right move for you.





Feel free to give me a call at 312-264-6448, or


you can email me at Jasonf@providential.com.








Thank You,





Jason Fry


Providential Bancorp


312-264-6448
It shouldn't affect your credit score. They are just looking to see what your credit history looks like and if you are trustworthy enough to let you borrow more money or for refinancing. You should have anything to worry about, unless your credit is not great. Even so, there are lenders that will work with you to help you refinance your home and get you what you need. Good luck with your search.

Is there any country or region where there is no rent or mortgage for a home? I want to live rent free?

I am doing research and want to live in a rent free society if possible. I am 23, a hard worker and have 2 incomes but want to live stress free in my life. Looking to move to a place where there is no requirement for rent.Is there any country or region where there is no rent or mortgage for a home? I want to live rent free?
I think you are limited to Federal Prisons.Is there any country or region where there is no rent or mortgage for a home? I want to live rent free?
The only people in existence that live rent free would be the bush people in countries like Africa. So unless you want to go live it a tent or a hut with no comforts of home. It is not going to happen!
I have seen some really nifty cardboard boxes on Skid Row in downtown Los Angeles! When someone asks you what you are doing lugging that cardboard box around, you can always say, '; Oh, I am moving!';





LOL
Yes there totally is!!! It's the mountain dwelling hobo! The hobo needs nothing from society. We all can learn much from the mountain dwelling hobo!
Go to the deepest downtown of any major city and find out where the rest of the homeless people live.
Alaska. AFAIK, the Homestead Act still applies there.
Commit a felony and get thrown in jail. Free housing AND food. What a deal for you.
Only such place I know of as described.....is called a GRAVE.
You're dreaming. Who will bear the costs of providing such 'free accommodations ? What ELSE do you want for nothing ?
LOL.....23 and still have no idea about the real world. How cute is that??
Buy a tent.
';There ain't no free lunch.';

How do I become a mortgage broker in CA?

I saw a posting online for a mortgage broker, don't I have to be a loan officer first?


(I am not DRE licensed yet)How do I become a mortgage broker in CA?
In California, there are two separate approaches to becoming a Mortgage Broker, each with its own rules and responsibilities. One is under the California Department of Corporations, www.corp.ca.gov, based on the California Finance Lenders Law (CFL). The other is under The California Department of Real Estate (DRE), www.dre.cahwnet.gov.





Mortgage Brokers licensed under the California Department of Real Estate may perform regular broker and negotiating business with banks, savings %26amp; loans, credit unions, and thrift %26amp; loans. Mortgage Brokers licensed under the Department of Corporations may only negotiate loans with a lender licensed under the California Finance Lenders Law.

How easy is getting a mortgage?

How many people have had to pay a high brokers fee? Or taken a higher interest rate to be fee free?How easy is getting a mortgage?
not hard if you have good credit . . me and my husband have always been able to tell the bank what we want and our bank has always come through . . we've never paid a broker fee . . we own 2 properties and are paying mortagage on 2 other properties (one a cabin the other a rental prop)How easy is getting a mortgage?
Im a mortgage advisor it all depends on indivudal circumstances eg credit problems. My fee ranges from 拢0 to 拢500 it just depends. It always best to work out what works out cheaper over a few years, the lower the rate with an higher fee is not always the bests option.
getting a mortgage depends on your income, your credit history and your ability to be able to pay back the monthly amount ie the affordabiility. shop around most places have offers on just remember to read the small print that you are not tied to it for too long or penalised if you want to move to another mortgage provider.

What would be a typical mortgage rate on a $300,000 home, and how much should you put down?

and what would be the monthly payment?What would be a typical mortgage rate on a $300,000 home, and how much should you put down?
Your question has a lot a variables to it, credit rating, current employment status (how long there etc), current level of debt the term of the mortgage (20 years, 30 years.)





General rules of thumb would be the more of a down payment you make the lower the interest and monthly payment.





Some general figures so you can compare how your payment varies with a 1% interest change.





With 10% ($30,000) down at 6.5% for a 20 year note payments would be $2,013.05 a month. For a 30 year mortgage with the same down payment and rate it would be $1,706.58.





Same conditions at 1 percent more, 7.5% would be $2,175.10 monthly paymets for a 20 year note or $1,887.88 for a 30 year mortgage. With the fed continually dropping the interest rate you should get an offer higher then 7.5% unless you're a bad credit risk -- lenders are nervous due to the subprime mortgage crisis.





So that 1% difference costs over $150 every month for the life of the mortgage.





Typically mortgage companies/banks get hesitant if your monthly payment would be more then 25-30% of your gross monthly income. Though if you have a high debt load they may want your housing/income ratio to be lower.





Look at your savings and other liquid assets, leave enough for a 6 month emergency and see what you left have for a down payment. The larger the down payment the better for you in the long run. It reduces the amount you borrow and gives you a significant savings on your interest over the course of the loan.





Avoid balloon payments and adjustable interest rates, that's what's hurting a lot of people now.





I disagree with the advice to never take a 30 year mortage. If an attractive fixed rate is offered you should consider it should rates go lower you can always refinance if they don't you can always make additional payments directly against the principle to reduce the interest you pay. Interesting side note, if you get a 3% raise at work each year after 14 years your making more then 50% more a month then you do now, yet your housing cost is unchanged)





Additional tip, shop arround -- do not assume the bank you've been using forever will give you the best rate.What would be a typical mortgage rate on a $300,000 home, and how much should you put down?
There is nothing normal in the real estate industry. About the only thing normal is that each of us have a credit score.





This credit score will determine the type of mortgage you are qualified to get. It will determine the length of the loan, interest rate, if you have to bring money to the table for a down payment.





Now there are other requirements that will determine how much a lender will lend you to buy a house. This has something to do with how much you earn each month and the amount of debts you are currently paying from what you earn.





Now together with what you are paying out each month and and your new proposed mortgage amount will determine how much the lender will lend you.





You, as well as, anyone else want to discuss rates and the mortgage broker know nothing about you, your credit score, how your pay your debts, what you earn per year, how many debts you have to pay per month.





As soon as these things are known then and only then can someone come close to telling you what rate you will be getting, how much house you can buy and eventually your monthly payments.





So for someone to sit here in this forum and tell you that your payments will be this or that and and you can get a 30 year mortgage, but stay away from an adjustable rate mortgage is beyound me.





Now the best thing to do is call a local mortgage broker from your telephone book, set up an appointment and allow him to complete a loan application.





There are many documents you will need to complete the loan application, but here are a couple of things you will need to start





If you are serious about purchasing a property then take this action. If you are just seeking information and don't plan to buy immediately and just seeking information this is a good forum to get speculations about what might be,or possibilities.





#1 2 years of w-2


#2 2 years of federal income tax


#3 a month of pay stubs from your employer





I hope this will be of some use to you, good luck.





';FIGHT ON';
http://www.mortgage101.com/Rates/Index.a鈥?/a>





Normally, you put down 10%


but not always


go for the 15 to 20 year mortgage.





NEVER a 30.
go to bankrate.com and put the name of the state for which you are looking at property first and which kind of loan product you are most interested in. There are many types of mortgages available out there. Be sure your credit report is accurate before you apply for a mortgage, and get pre-approved with a lender to save time once you find that dream home you love.





Mortgage loans at 300K are not hard to get if your finances are in order and you have the typical 20% down payment and assets, etc. At todays rates you can expect a payment around 1750.00 without taxes or insurance for a 30 year term, this is an estimate ONLY. 30 years is a long time to pay for a home, but it gets you in the door.

Why do businesses like home mortgage(CountryWide) lead money to people who can not pay it back?

From the news media, there are a lot of home foreclosures from mortgage companies such as Countrywide. The employees who write these loans have business degrees and experience in home mortgages yet they go ahead and create and approve loans that can't be repaid! Can anyone explain to me why would any business do something like this?Why do businesses like home mortgage(CountryWide) lead money to people who can not pay it back?
Because they make their money from selling these bad loans in the marketplace to idiotic hedge fund investors who have no idea what they are even investing in.





The bank takes the bad loans, packages them together with other bad loans, and sells the package. The banks make tens of billions of dollars and, when the loans go bad, lose just a few billion dollars, not nearly enough to make up what they made in the first place.





Then, the Fed buys these bad loans with newly inflated money, and the banks are off the hook again.





We shouldn't be surprised when banks can screw us over, make money, and then have their losses from screwing us over be transferred back to us through inflation.Why do businesses like home mortgage(CountryWide) lead money to people who can not pay it back?
Up until very recently Countrywide and other lenders made loans they knew the recipient could not repay because they sold the loans to other companies as soon as they were written, before the recipient defaulted. By the time the loan went bad, another company would be holding it -- Countrywide had made its money.





The sold loans were pooled into a supposedly homogeneous mass -- a properly mixed portfolio of loans in theory greatly reduces risk. These nearly ';risk free'; financial instruments were then sold to institutional investors.
If you lend money to a 1000 people, 3 percent of them won't be able to pay you back as promised. That's 30 people. You don't know which people will giveyou the problems when you make the loans.

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If the interest on your mortgage is calculated on a daily basis, does the day you make overpayments not matter?

I am currently paying over 拢300 a month extra on the day my mortgage is taken from my bank. If I make further payments throughout the month, will the day I do this make no difference to the interest paid? Thanks in advance.If the interest on your mortgage is calculated on a daily basis, does the day you make overpayments not matter?
The extra you are paying is applied to the principal loan amount, not the interest. As long as your extra payments are applied directly to the principal, it doesn't matter what day you make them. Every dollar towards the prinicipal is one less dollar that is charged interest.If the interest on your mortgage is calculated on a daily basis, does the day you make overpayments not matter?
If the interest is calculated daily, the day you make the over payment your balance is reduced and you should therefore be charged interest on a lower amount, resulting in less interest charged.





However, you should check this with your lender. Some lenders don't take overpayments into account until the end of the month, and there is usually a delay of a few days between when you make the payment and when the mortgage balance is reduced.





So find out when the balance is recalculated for interest purposes, if it isn't until the end of the month, then you may as well hold on to the cash, which is earning you interest in your bank account, for the extra few weeks.





Peter McGahan


http://www.wwfp.net/mortgage/mortgage-br鈥?/a>





Disclaimer:


The answers above are for guidance only and should not be acted upon without you receiving professional mortgage advice relevant to your circumstances. To find an independent mortgage adviser please go to http://www.impartial.co.uk.
In the long run it will matter however slightly. The interest you are paying this month is for last month but the principal you are paying is for the current month. So what day you pay will save you a few days interest and help your interest payment next month (for interest on today's balances) a little less.





Pay as early as possible and over the life of the loan it will pay off.
look at your next quarterly or monthly statement to see how your extra cash is affecting the balance. Generally, the interest is set per month and once that is covered, the extra is applied to the principal. Your next payment will not be lower, only on an interest only loan as it is calculated daily on the existing balance.
If the interest is calculated daily - then the earlier in the month you pay off your mortgage the better. Every day that your overpayment is with your lender - means you pay less interest.


:)

Can we get a second mortgage if we need to rent out our house?

We need to move because my husband got transferred. It looks like we are going to have to rent our current house because we have had no luck selling. Will we be able to qualify for another mortgage if we still own our current home? Can we use the rental income as part of our income?Can we get a second mortgage if we need to rent out our house?
Yes, the rent is part of your income - but the mortgage loan is also part of your debt. The lender (for a new loan) will look at your whole financial picture.Can we get a second mortgage if we need to rent out our house?
Depends on your income.





If you have enough income to support both mortgages and good credit the answer should be yes.





You may find that where you are going many people could not sell their homes either. So you may want to rent with option. This can save you money.

How do you get a mortgage with a credit score of 619?

Everyone is telling my fiancee that he has to have a score of 620 to even get approved, what do we have to do to get a loan?How do you get a mortgage with a credit score of 619?
Shop around. You will more than likely have to get an FHA loan.How do you get a mortgage with a credit score of 619?
Getting approved for a mortgage is not entirely based on your credit score. It's also based on your income and any other outstanding debts you may have. The low credit score may affect the interest rate you get though....it'll probably be slightly higher.





Just go into any bank and see if you can get pre-approved for a loan amount equal to how much you plan on borrowing for your house. It doesn't hurt to see what you would get and doesn't cost you a penny...there's also no requirement to go with the bank that gave you a pre-approval.
creditreport.imess.net - try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
1 co signer


2 collateral


3 proven work history with pay stubs

Which bank has the lowest mortgage interest rates?

I'm looking to refinance my home and am currently paying 6.25 on a 30 year FM. Which bank out there has the lowest mortgage interest rates?Which bank has the lowest mortgage interest rates?
Try typing in 'home loan interest rates' in your Google search engine and see which mortgage companies come up in the search. Then see what each company has to offer. If its unclear which links to follow, check out the search links that show up in the right hand column. If you have good credit, for the lowest rates, look for websites offering 'wholesale rates'.





Keep in mind that interest rates are tough to compare between mortgage companies because they hinge on so many factors including your credit, term, and the type of loan you're interested in. Instead, focus on how much the mortgage company can lower your payment. Or, pay close attention to how long the company has been in the industry, client satisfaction rate, reliability, and trust. You can typically get a good idea of how a mortgage company is received by the public through client testimonials.





If you have any questions, you can contact me directly. I hope this helps!Which bank has the lowest mortgage interest rates?
If your in the north the Cumberland building society is the best one. If your in the south or not even in England sorry but cant help.
Bank of America/Countrywide is currently at approximately 5%.

Can someone take out a mortgage on your home without you knowing?

I got a phone call, left on answering machine, talking about a mortgage. I do not have a mortgage on the home . I am just worried that someone could fraudulently get a mortgage on my home. With people stealing identities how easy would it be?Can someone take out a mortgage on your home without you knowing?
ABOSLUTELY! One of the first indications of identity theft is when strange debts are recorded to ';you';. In fact. there's a horror story cited below. There's a reason that most credit experts advise that you check your reports as often as you can. That's discovery of bad things before they go to far. My credit card issuer verifies all purchase more than X dollars with a follow up call. Sometimes annoying but worthwhile. Depending up your state, you can get some reports for free, block access to your ';identity'; with a password, or other things that come with your location. As a NJ Notary, I am very sensitive to fraud. A notarized power of atorney is gold to a fraudster. I'd suggest that you guard your signature. I use one on ';financial'; documents and another as a throw away. That is when I charge at Home Depot, I use ';fjreinke';. When I open a bank account, I use my full name ';ferdinandjreinke';. It's a little trick but I like it. Also, never use the same password everywhere. Also, when you give answers to security questions, lie. You have to remember your lies, but that a small price. I'd love to see the scammer's face when he answers the security question ';what's your wife's name'; and gets told the right answer is the wrong one!





Ferdinand J. Reinke


Kendall Park, NJ 08824





Webform that creates an urgent email =%26gt; http://public.2idi.com/=reinkefj


Web page =%26gt; http://www.reinke.cc/


My blog =%26gt; http://www.reinkefaceslife.com/


LinkedIn url =%26gt; http://www.linkedin.com/in/reinkefjCan someone take out a mortgage on your home without you knowing?
It would be fairly hard-- but I've seen dateline specials on it. The criminal would have to have a good ID in your name, since all mortgage docs are notorized, as well as all the documentation (check stubs, bank statements, etc) for the loan.





Get a title report for yoru house-- it will show any and all liens on the home, including mortgages.
Chances are it is a telemarketer trying to get you to refinance (and they just take a guess that you have a loan) or a scam.





It would be VERY difficult for someone to take out a mortgage in your name without you knowing. Lenders require two forms of identification, pay stubs, some require W-2s, all kinds of stuff.





But if you are worried about someone stealing your identity take ten minutes to get your FREE annual credit report at https://www.annualcreditreport.com/
It would not be easy for anyone to do that. There would have to be an appraisal done for the lender, which would mean (hopefully) you would know something is going on.





We get calls and mail all the time from companies wanting to help us get a better rate than the loan we had refinanced three years ago. If you recently had a mortgage, this could be the reason for the call. It could also be as simple as a wrong number, or a sales call to all listed homeowners, mortgaged or not.
I doubt it, considering the hurdles one must jump through to get a loan in the first place. Before one gets fully approved the property has to be appraised, inspected, and pass a title check. You would have been fully involved in this process, if you were on that title.





When we get a loan to buy a house, we personally never see that big money. That money exchanges through businesses. (Buyers lender to sellers lender, for example). So, I'm not sure what motive one would have for trying.





I get random calls like that too. I lived in an apartment last year and had a similar call that left me laughing. It's more than likely a random telemarketer that has a call list, randomly trying to get people to either take out a mortgage through their company or refinance one they have. It's all about the money they could potentially make by advertising their services.





Afterthought edit:





I've never thought about changing my security question answers to the wrong ones. Great idea. I'm going to change mine now.
it is possible
No, the mortgage companies have to do a title search. If the person asking for the loan isn't in title to the property, they don't get the loan.
A mortgage is a subcategory of ';lien';, and no one can get a VALID mortgage on your house without you knowing. It's entirely possible they could pretend to be you and leave you a mess to clean up, but if you're innocent, it will be cleaned up.





Now, other liens can be placed on the home without your knowledge or consent. Judgment liens, tax liens, mechanic's liens all can be put on the property without your input. But that isn't what you're talking about.





More than likely the phone call was from someone that wants you to take out a new mortgage. I do believe that lenders feel like no one can be happy without sending someone a house payment each month.

Can you buy investment property using a first time home buyer type mortgage?

I'm interested in buying a house to rent out, but am wondering if it is possible to get a loan that is not dubbed ';investment';, which usually requires up to 20% down payment and carry a higher interest rate than regular mortgages.Can you buy investment property using a first time home buyer type mortgage?
No. An investment mortgage is regular. If it is not owner occupied it is an investment, pretty simple to understand.Can you buy investment property using a first time home buyer type mortgage?
The best part about a bad credit home loan is that it provides a good opportunity to people who have a poor credit score and makes it possible for them to secure loans and own a house. By making regular payments on time, your credit score can improve which can even help you to choose refinancing schemes with lower monthly repayments. However, on the downside if you have a bad credit rating, you may be required to pay a higher rate of interest as compared to people who have excellent credit ratings.





http://www.worldbestloans.com/homeloans.htm





If you have poor credit, the amount of money which is to be repaid every month also increases which can put increasing burden on you as a borrower. As a result, a home buyer with poor credit may have to opt for a cheaper and affordable home to reduce the debt burden and sacrifice his or her personal desire of owning a lavish and expensive home.
Investment properties usually require more like 25% down, and you are right the interest rate is usually a bit higher.


There isn't really any ';first time home buyer type mortgages';. Maybe you are thinking about the first time home buyer tax credit? But that cannot be used for investment property.
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Generally not, most of them have some sort of clause about having to live in the house that is being purchased, some set a minimum period like 12 months, some won't allow you to rent it out ever while it is mortgaged by them.
the 20% down also reduces insurance cost


say you intend to live in the house

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