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Asked 05/29/2009 06:17 am CT (Medford, MA)

I filed for chapter 7 August 2007 and dischaged on January 2008. I maintained my credit very well after the bankrabcy. My credit score from transunion is 732. Can get approved for a mortgage if I apply for it. Can you help me find a mortgage company that could approve a mortgage for me?

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Asked 02/04/2009 01:18 pm CT (Scottsdale, AZ)

I am in process of refinancing my 10-yr adj @ 6% (6yrs left) because my equity has dropped significantly but I still have more than 20% equity. My new rate will be 5.75% although I'm trying to get 5.5% (it's a twin). I have credit score average of 800. I'm wondering if I should wait to see if I can get 4.5% on refinancing that they are talking about with the stimulous money. I am not someone who would be defaulting -- just trying to ge into a 30-yr fixed. I'm concerned that if I refinance in 2009, I would not be able to apply for this if i becomes available to me. Any ideas? Thanks, Kip

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I'm not sure what your loan amt is but if it's below $417k, market rate should already be below 5% a...

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Asked 01/03/2009 06:33 pm CT (Columbia, SC)

I am interested in purchasing a rental property that has current leases on both apartments in the duplex. Does the rental income count towards my income when applying for the loan?

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Asked 08/31/2008 02:33 pm CT (centerville, MN)

My husband and I own a townhome (with a mortgage) We have had some credit problems recently, but have gotten it mostly cleared up. We would like to be able to move into a home with a yard since we have a toddler, and a surprise baby on the way. Is there anyway we can trade homes? Can we get a foreclosed home for what we owe on our townhome and just trade it? So we can keep the same mortgage, payments, and not have to re apply for a loan? Im pretty sure there isnt but thought I would ask. Thank you!

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Hi Amy- You would need to sell your home, retire the existing mortgage and get approved for new fin...

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Asked 07/20/2008 07:46 pm CT (Ansonia, CT)

My husband and I are first time home buyers in search of someone who is willing to give us a chance. We have had problems in the past with bills ETC, but currently we have been very faithly in keeping all of our current bills paid on a timely manner. Combine we have a gross income of about $66,000 annually, and we have not been able to find some one who will assits us in purchasing our first home. My credit score right now is 560 and my husbands is about 570, my husband does have a judgement that was filed against him last year for about $3200 dollars that we have been making monthly payments of $100 dollars for the past 7 months on. We are only looking to be approved for a loan in the amount of $160,000. Please contact me and let me know if there is anything that you can do to assist us, I am even willing to apply on my own even if it means a lower mortgage approval.

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Asked 05/06/2008 04:47 am CT (Quakake, PA)

I am a teacher in a small town and I earn alil over 35000 a year. I also have excellent credit 740+. I have no credit card debt however I do have a school loan of about 35000. My fiance has been unemployed because he hurt his back so therefore he has little income. Is it better for me to just apply for the loan without him?? How likely is it for me to be able to get a loan for $50000? I know we would be able to afford the payments!! Thanks for your help!

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Based on the prelim information you have provided you can qualify for a mortgage of $50,000. It wou...

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Asked 04/14/2008 01:43 am CT (knoxville, TN)

My wife and I are applying for a home loan and have been turned down once already for a conv. loand and a fha loan through the same lender...We are now trying to go with a progam at the bank where she works. We meet all the requirements so far but they want to see a profit loss statement since im self employed. Is this normal? Will this statement determine if we get approved or not?

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Asked 04/11/2008 05:21 am CT (philadelphia, PA)

we have a property in Texas when we apply for the morgage was as a second home, I really like the life in texas I was thinking to move there, do you think there is any chance to actually live in my econd home as my primary residence?

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Are you asking if there's a chance to refinance to better terms as a primary residence? If so, then ...

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Asked 04/01/2008 07:51 pm CT (crossville, TN)

I am a vet, honorable discharge and 58 years old. I am currently a caretaker for my mother who is 88 years old , does not require medical care- but daily physical care ( making sure she gets food prepped, a bath, transportation to dr. visits etc..) I have 8 living bro/sisters..and I get paid by them monthly of $800.00 in personal check form, along with a retirement check of $125.00 per month..I want to take advatage of my Va benefits by applying for a VA mortgage loan. I have just begun this job this past year of taking care of my mother and will file taxes at end of 08. (was taking care of her w/out financial income last yr)..can I still qualify for a VA mortgage loan? I would only need about $45,000 or less- my daughter has property (14 acres) and I want to get a small 1 bedroom log cabin kit to put up on the property..would I be allowed to do that and qualify for a mortgage loan thru the VA..my daughter said she'd sign any needed paperwork approving me to put a dwelling (no bigger than a barn on the property, they have already had a spot perked approved for me to put in a home. thanks so much for a helpful site to an old guys questions:-) Jerry

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Asked 03/30/2008 07:22 pm CT (Shakopee, MN)

I filed for chapter 7 bankruptcy last year which was discharged. My boyfriend and I want to get married April 2008 but he wants to buy a home after we get married and would i have to be included on the mortgage loan he gets? We were told it could affect his rates etc., Do you have to apply for a joint mortgage loan if married? Can't he apply as married using just his income and expenses and credit to qualify for a mortgage? I would not be on the loan documents but listed as having an interest in the home. Is this possible?

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Asked 03/18/2008 01:35 pm CT (elmhurst, NY)

my broker applyed morgage in 6.375% and later he locked in 5.7 now when we got our commitment letter it says 6.375% I'm concern now what will happen? my broker says don't worry u will get it 5.4 but how it's posibble can u please help. thank u

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Get it in writing. If your broker won't give it to you in writing, find someone else who will....

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Asked 03/10/2008 12:49 pm CT (Jackson, MS)

If a house is asking 50,000 to buy is it possible to apply for a loan that is greater than 50,000? and If so, how much more can you apply for?

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Just about anything is possible. However, it would likely be what is called a Hard Money Loan which ...

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Asked 03/09/2008 11:50 am CT (Brentwood, NY)

I am unable to get a mortgage or loan on my own to purchase a mobile home in NYS, on Long Island. A friend in Texas is willing to try and apply for one in her name for this home in NY. Will she be able to originate the loan in Texas. There are only two banks in NY who do this in NY for NY - will this make a difference?

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Find a mortgage broker who deals w/ mobile homes. They will likely have access to lenders & investor...

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Asked 03/05/2008 07:07 pm CT (memphis, TN)

how do mortgage companies handle split files when applying for a mortgage

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Asked 03/01/2008 08:15 pm CT (South Bend, IN)

I have a credit score just over 700, a steady job, I own my car outright, and have about 12k of school loans. (no credit card debt). I make just over 33k a year and am wondering if I could ever get approved for a mortgage with such an income. Should I bother applying?

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Of course you can, Tracy. Questions are...can you afford the pymts AND is the approved loan amount ...

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Asked 02/24/2008 06:22 am CT (wakefield, MA)

my wife has high credit card debt, I would like to apply for a mortgage on my own, is this possible?

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Yes. People apply on their own all the time.

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Asked 02/22/2008 08:35 am CT (Chantilly, VA)

My mother and bough a home together in 03 suing the 80/20 principle which mean we have two mortgages. We are both listed on them both and share a 50/50 payment and ownership rule. I am having a nightmare time applying for an auto loan due to my dept to income ratio which is primarily the home. I have a few credit card that hold a very low balance to credit limit. I have heard that I can claim my mothers contributions as income to help my debt/credit ratio. Since the bank does not look at the fact that there are two head of household here that are both claiming 50/50 ownership and payments. Please provide me with any information that could potentially help both of us reduce this ratio to obtain credit for an auto loan.

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Asked 02/11/2008 09:07 am CT (Holland, MI)

Can a mortgage company apply a monthly payment entirely to escrow?

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Asked 02/10/2008 01:28 pm CT (phoenix, AZ)

My Wife and I moved in to a town house a year ago is it possible to sell it and get a larger house? What if the amount of the homes around the area are lower than what we were loaned for? Can we apply the difference to the new loan???

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HI Tony, You will not be able to apply the difference of your current loan to a new loan on another ...

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Asked 02/08/2008 05:47 am CT (Reading, PA)

My husband and I have decided to relocate to North Carolina. With the sale of our small row home we plan to have 20% to put down on a house in the 115K range. Our credit is in the mid 600s. How do we go about securing a loan in another state and do we need to have jobs in the new state before we apply for the loan?

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Michele,,. I am a local lender to you now and could pre-qualify you for a home mortgage in NC. Plea...

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