BestInMortgage.com Post Your Mortgage Question Find mortgage expert in your area
You are not logged in. Login here. Not a user? Sign Up
Email: Password:
 
Search by Mortgage Terms: Ask My Question


Search: "Financing"

Pages:  1 
 
 2 
 
 3 
 
 4 
 
 
 

Asked 11/05/2009 05:16 am CT (Jacksonville, FL)

I am looking into a 3/1 ARM backed by the CMT index. The margin is 2% with a 5% cap on the life of the loan. Starting interest rate is 3.75. I was just wondering if this is a good deal or not and if refinancing is a good idea if you are only getting an interest rate about 1 point lower than the current one. Currently my interest rate is 6 1/8. Thanks

Keywords:
            

 
 

Asked 11/04/2009 02:00 pm CT (Miami, FL)

Hi, can smbd please tell me whether the interest rates are lower on a home mortgage or a home equity loan? I’m purchasing a condo and considering two options: financing it the first time around or purchasing all-cash and then taking a home equity loan. Can smbd tell me pros and cons? What about qualifications? Which one is easier yo get? Thanks a million times!!!

Keywords:
                        

 
 

Asked 09/14/2009 10:20 pm CT (Sandy, UT)

My husband and I have owned out home for 13 years. It is our primary residence. Last November, 2009 we refinanced consolidate our 1st and 2nd mortgages and to pay off credit card debt. Our credit was poor at the time and we received a 11.33% interest rate on the new loan. They told us that if we could keep on the mortgage payments and not incrue any new debt, they would refinance us Nov 2010. Since then they have closed all their branches and are no longer taking any new business which included refinancing their current clients. We currently owe $158K with a payment of $1,760 per month plus a 5% prepay penalty estamated value of the home is $166k. if we refinance or sell before November 2011. The currently mortgage company states that they have chosen not to participate in the Obamha Stimulas package. We have been playing the pay them late but just in time game for month and we can\\\'t keep it up any longer. On Sept 30,2009 we will hit our first 30 days past due. We have found a rental house to move into but what are our options for getting out of this home and the mortgage. How will the options affect our credit? is one worse than the other. What are the tax implimintations? Thanks, Cathi

Keywords:
                                            

Cathi, There are three options for getting out of your home. 1 – sell the home. This is the ...

[ Total Answers: 1 ]

 
 

Asked 05/19/2009 09:43 am CT (Sumter, SC)

I bought a home prior to marriage, I still have a mortgage balance, can I put my husband\\\'s name on my deed and title without refinancing?

Keywords:
                

As a general rule, you may place your husband on the title. However, please check local laws to see ...

[ Total Answers: 1 ]

 
 

Asked 03/02/2009 07:03 am CT (Atlanta, GA)

I own a home that I paid about 530K for about a year and a half ago. It is 100% financed. I would absolutely love to refinance and get the rates being offered today but based on some comps in my neighborhood I am looking at being upside down in my mortgage by about $60-$80K. Plus I imagine 100% financing has kind of gone away. Is there anything I can do to refinance and not have to bring $100K to the closing table? Or am I just completely up the proverbial creek with no paddle?

Keywords:
            

 
 

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

Keywords:
                        

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

[ Total Answers: 2 ]

 
 

Asked 12/19/2008 10:07 am CT (Orlando, FL)

How can I lower my mortgage payment without refinancing and what is a loan modification?

Keywords:
                  

You would have to talk to your Lender to see if they are offering any type of "Loan Modification". ...

[ Total Answers: 1 ]

 
 

Asked 11/28/2008 10:44 am CT (Houston, TX)

I would like to know if it is worth refinancing the mortgage on my house. We cuurently owe about $265000 on a house worth around $700000. Our current loan is at 5.625% on a 30 year fixed and we have been in our house about 5 years. We plan to stay in this house for many many years. I have been looking into rates and was offered a 5.00% mortgage on a 15 year fixed loan with 1/2 point to buy this rate. We can afford the extra payment, but is it worth it? Since I currenly pay about 4 to 5 hundred extra toward the principal each month on my current loan. Or w

Keywords:
                        

If you refinance to a 15 year loan your payment will increase about $493 per month. If on your curre...

[ Total Answers: 1 ]

 
 

Asked 11/16/2008 01:35 pm CT (Seattle, WA)

I would like to build an Auxarilly Dwelling Unit on my parents property. Zoning laws permit this in my negighboor which is zone for muti family residences. Can I obtain financing for the project without a lien or 2nd mortage place on my parent property. My fico scores are above 750 and one is above 800. I want total responsibility for the loan

Keywords:
                

It completely depends on the amount your parents owe on their property compared to what it is worth....

[ Total Answers: 1 ]

 
 

Asked 11/05/2008 03:35 pm CT (State College, PA)

First I must say that you do not have the city I live in on your list so I just picked one. Anyway here is my situation. I need to refinance my home to lower my payment, repair my roof and lower my interest rate and I have done everything that I have been asked to do. I have a manufactured home and land appraised at 75,000. My credit is good and I actually pass FHA inspection and have released the title to my home. The only problem I run into is there is no properties such as mine that have sold in the past two years. Now I do live in the smallest county in PA we only have 5300 people and sales are a little slower. There are a lot of manufactured homes being purchased as they are affordable for folks but no one is selling. I am at my wits end and don't know what to do. I am struggling to maintain my house payment the way it is and am afraid I will have to let it go back. The current lender will not consider refinancing the loan. Do you have any suggestions?

Keywords:
                                  

 
 

Asked 09/03/2008 04:07 pm CT (Colton, CA)

I have a 36 month ARM with 1% interest and optional principle payment that will expire at the end of this september. The only viable option for refinancing is FHA 30 y fix but increases my monthly payment by $500. I would appreciate your advice. ? to hold on the current ARM or refinance.

Keywords:
                

Ghulam, This is a loan that allows for your balance to increase (negative amortization) if you di...

[ Total Answers: 1 ]

 
 

Asked 05/16/2008 07:00 pm CT (Gatineau, Quebec, Canada, Ontario)

I am refinancing my mortgage. The new bank, the notary and me are waiting for the other bank to discharge the mortgage. We have several times requested the discharge, no answer we have received. What is the limit time for this answer and what legal tool can I use to obtain the answer befor the maturity date?

Keywords:
          

 
 

Asked 03/25/2008 10:45 am CT (Greer, SC)

How does Fannie Mae Regulations effect my mortgage loan? I was getting 80% financing on a home in Greer, SC (for my daughter) - and our contract with the seller stipulated the Seller pays closing costs. Halfway through the process, the loan person contacts me and says "Fannie Mae has changed their regulations," and all of a sudden I have to pay $2K in closing costs. (This was two weeks ago.) Do you think this is legal and valid? I wasn't financing through Fannie Mae. How is this allowed to happen? He wanted me to sign an addendum to the contract and everything - agreeing to these terms.

Keywords:
                      

 
 

Asked 03/06/2008 08:31 pm CT (las vegas, NV)

I have a 80/20 my rate will go up in april according to countrywide the value of the house prohibits refinancing although we make good money,any suggestion?

Keywords:
            

I'm assuming value is less than you owe?!?! If so, you could attempt a short sale where the bank wo...

[ Total Answers: 2 ]

 
 

Asked 02/24/2008 05:25 am CT (Thomasville, GA)

I have tried, unsuccessfully, to find someone to refinance my 2001 Homestead 16x80 mobile home. It is financed through Greentree with a variable interest rate (presently 14.625). Greentree will not refinance nor will they consider financing for anyone wanting to purchase this home. I tried to sell it but found that, due to the amount owed on it (roughly $27,000)it makes more sense to buy a new home than to buy this one. I have a good tenant living in it who wants to buy it herself but her credit is poor. I have a chapter 7 bankruptcy which was discharged in November 2005. My fico scores are right under 600. I am desperate to find someone to refinance this home on a fixed interest rate so that the payment will be more affordable and predictable. The current payment is $374.89 and she must also pay $150.00 lot rent. If the payment continues to rise, I will lose my tenant. No one seems willing to take a chance on refinancing for me although I have a good job I have been working for 6 years, with a decent salary (appx. $35,000/yr). I just got a promotion and will be moving in the next week or so to start my new job. I would love to get this mobile home refinanced (or financed for my tenant) before I go. Does anyone know of a mortgage company who would refinance for me?

Keywords:
                                              

Ask your neighbors. Find out which lenders are financing all the other mobile homes and then approac...

[ Total Answers: 1 ]

 
 

Asked 02/20/2008 02:35 pm CT (Eagle, CO)

We own a home on 18.25 acres. We are considering selling the 8.25 to our neighbors, keeping the house on 10. As our mortgage is for the house on the full 18.25, can we sell the 8.25? What interest does our mortgage company have in this? As long as our value stayed above what we owe could we hold off on refinancing? Or would a refi be required? If so, when - at the closing of the sale of the land? before we begin the subdivide? after we have closed? Do we have to disclose our intent to sell the acreage to the mortgage company? or just let them know afterwards? Thanks!

Keywords:
                      

You can not sell the banks collateral without their agreeing to it. 99% of the time a refi would be ...

[ Total Answers: 1 ]

 
 

Asked 02/19/2008 06:29 pm CT (saraland, AL)

my wife and i are looking to buy our first home and our credit scores are just below 600. i have recently been discharged from a chapter 13 and have no debt at all. my wife has kept a clean nose for a year now with no late payments and have never been late on the mobile home we are financing now (with only 10,000 left owing).our income together is 85k. what options due we have during this credit crunch we keep hearing about? can my wife alone finance without me on the loan?

Keywords:
                        

Rick, it is possible for your wife to obtain a home loan without you on the loan providing she can q...

[ Total Answers: 1 ]

 
 

Asked 01/29/2008 12:41 pm CT (Forks, WA)

We are refinancing our house. Right when we started our refinancing I was offered and accepted a new job. I am afraid this will cause problems with the refinancing if i terminate my employment with my current employer and move to my new employer. Is this something i should even broach with my mortgage company?

Keywords:
              

 
 

Asked 01/29/2008 10:41 am CT (South Elgin, IL)

I just re-finaced Dec 26, 2007. How long before I can look at refinancing again?

Keywords:
          

Denise, You can refinance as soon as you would like. Call me at 815-838-6613 and we can discuss ...

[ Total Answers: 1 ]

 
 

Asked 01/21/2008 01:24 pm CT (Richmond, VA)

I have good/fair credit median is 700+ i want to re-finance my house but my debt to income ratio is slightly high, it was high when i got the mortgage a year ago so i don't understand why i'm having issues re-financing, are there any lenders that will overlook this so i can re-fi. I desperately need to.

Keywords:
                

ING- Good credit is king and congratulations on that. With home values dropping, it has been harder...

[ Total Answers: 2 ]



Pages:  1 
 
 2 
 
 3 
 
 4