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: "Fixed"

Pages:  1 
 
 2 
 
 3 
 
 4 
 
 5 
 
 
 

Asked 04/08/2009 11:16 am CT (Minneapolis, MN)

I need some help! I bought a condo in 06 with an ARM thinking I could refinace to a fixed rate to get a lower payment before it goes up again but Countrywide (who bought my loan) says since my apprasial is less than I paid for the condo there is nothing no one can do to help me and it is what it is. they did offer a modification of $4 a month for an ARM loan. I have a car payment/credit card payments and 2 jobs. Can anyone help me?

Keywords:
                    

My advice would be to contact Bank of America since they now own Countrywide. They may be able to d...

[ Total Answers: 1 ]

 
 

Asked 02/25/2009 09:34 am CT (Atlanta, GA)

My husband and I have 24 years left on a 30 year fixed at 6%. I am concerned about losing my job and want to know if we should refi. If so, should we go 20 year or 30 year?

Keywords:
      

Consult w/ your mortgage broker. If you intend to live in your home longer than it takes to breakev...

[ Total Answers: 1 ]

 
 

Asked 02/10/2009 01:39 pm CT (Montgomery, AL)

HELP!!! My husband and I are trying to refinance for a lower payment, but we cannot find a lender to refinance. Our interest rate is a 20yr fixed @ 9.25% and we owe @105k. My credit score is 715, but my husbands is 566. My debt to income ratio is too high to refinanace by myself. What should we do?????

Keywords:
                            

p.s. - If you'd like someone else to handle credit report disputes, try http://www.lexingtonfs.com/ ...

[ Total Answers: 2 ]

 
 

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 01/20/2009 04:19 pm CT (Bartlett, TN)

Is it a good deal to consolidate my 30yr fixed (6.75%) and my eqiuity loan(8.875 %) to a 15yr fixed rate (4.6%). I owe approximately 167K(25yrs) on the 1st and approximately 44K (7yrs) on the 2nd. I would have to pay closing of about $3200, should I do this?

Keywords:
      

Yes, I would definitely do this. Rates are the lowest they have been in the past 5 years. I imagin...

[ Total Answers: 1 ]

 
 

Asked 01/14/2009 09:29 am CT (West Bloomfield, MI)

I have a 7-yr balloon due March, 2010, with current rate of 4% and (by then) a remaining balance of $260k. This was originally my home but is now a rental property. Home values in Michigan have plummeted. I have tried to refinance now to lock in a 30-yr fixed rate, but since it is considered a rental property, the loan/value ratio needs to be 25% and I'm no where near that. Since I cannot refinance now and definitely won't be able to when the balloon is due as values fall another 10%-20% (as forecasted in Detroit), what happens? (1) Can I refinance with my current lender for a 30-yr fixed with a reasonable interest rate now or in March next year? (2) Should I begin to have these conversations with the lender now? (3) Do they amortize the remaining balance over the remaining 23 yrs? (4) How high can the rate go? I have friends in a similar situation (with their primary home) and rates have gone up to 10%+? (5) How do I keep the rate down and amortize the remaining balance for 30 yrs? I do not know what to do. Any assistance is greatly appreciated. Thank you in advance.

Keywords:
                      

Too many variable to discuss via email. COntact me to discuss 248-356-3739 Drew...

[ Total Answers: 1 ]

 
 

Asked 01/13/2009 09:15 am CT (Cleveland, OH)

I am in the process of buying a house from someone who started to gut and remodel. The kitchen cabinets and sink have been removed and the main bathroom has been gutted. The owner bought from the bank and was just going to fix up and sell. I want to buy before he fixes up so I can save money and repair as needed. The loan officer I spoke to told me that the kitchen and bathroom have to be in working condition and the house has to be liveable before I could get a loan. I would be buying the house as-is. Is there any truth that these would have to be fixed before I could get a loan? And I would be living at home until the bathroom and kitchen would be remodeled. Can you give me some direction or if I should choose another lender?

Keywords:
                    

 
 

Asked 01/10/2009 09:08 am CT (San Francisco, CA)

We received an NAPF U.S. Loan Notification telling us that we were pre-approved for a 30 year fixed loan at 4.75%/5.00% APR. This is for a loan of up to $287,670. It states that it is not an ARM which, we would never consider. I've never heard of any such program and wanted to know if this is legitimate.

Keywords:
            

It sounds as though you are being quoted a Conforming 30 yr Fixed Rate home loan and just about ever...

[ Total Answers: 1 ]

 
 

Asked 01/05/2009 07:26 pm CT (Drexel Hill, PA)

I have made my 360th 30 year fixed rated payment this past October of 2008, the loan maturity date. I have just received a Modification Agreement to sign for 22,000.00. The original loan amount was 59,900 in 1978. Why would I still owe more than 1/3 of the original loan amount? I have asked for documentation for 3 months now and all I have received was this new agreement to sign. I don\'t know where to direct further inquiries aoubt this. Thank you, Lil

Keywords:
                  

 
 

Asked 01/01/2009 11:28 am CT (San Francisco, CA)

My mortgage is at 6.875%. I owe $43,000 on it. It is 15 years old.And a 30 year mortgage. My question: Does it make sense to \\\"refinance \\\" at a lower rate so for a 15 year fixed loan? My concerns are that right now I am paying More principal with each payment since the loan is seasoned...Does this matter.Please advise. Ginger Thank You

Keywords:
                

Hello - I just looked at the amortization schedule using your numbers and it makes a lot of sense to...

[ Total Answers: 2 ]

 
 

Asked 01/01/2009 11:28 am CT (San Francisco, CA)

My mortgage is at 6.875%. I owe $43,000 on it. It is 15 years old.And a 30 year mortgage. My question: Does it make sense to \\\"refinance \\\" at a lower rate so for a 15 year fixed loan? My concerns are that right now I am paying More principal with each payment since the loan is seasoned...Does this matter.Please advise. Ginger Thank You

Keywords:
                

I think you would be best staying where you are. If you can afford to make an extra payment each ye...

[ Total Answers: 1 ]

 
 

Asked 01/01/2009 11:28 am CT (San Francisco, CA)

My mortgage is at 6.875%. I owe $43,000 on it. It is 15 years old.And a 30 year mortgage. My question: Does it make sense to \\\"refinance \\\" at a lower rate so for a 15 year fixed loan? My concerns are that right now I am paying More principal with each payment since the loan is seasoned...Does this matter.Please advise. Ginger Thank You

Keywords:
                

Hi Ginger, If you haven't refinanced yet, it absolutely makes sense to do so. You can lower your ...

[ Total Answers: 1 ]

 
 

Asked 01/01/2009 11:27 am CT (San Francisco, CA)

My mortgage is at 6.875%. I owe $43,000 on it. It is 15 years old.And a 30 year mortgage. My question: Does it make sense to \\\"refinance \\\" at a lower rate so for a 15 year fixed loan? My concerns are that right now I am paying More principal with each payment since the loan is seasoned...Does this matter.Please advise. Ginger Thank You

Keywords:
                

The problem you are going to have is finding anyone that will actually do the loan for you since you...

[ Total Answers: 1 ]

 
 

Asked 01/01/2009 11:27 am CT (San Francisco, CA)

My mortgage is at 6.875%. I owe $43,000 on it. It is 15 years old.And a 30 year mortgage. My question: Does it make sense to \\\"refinance \\\" at a lower rate so for a 15 year fixed loan? My concerns are that right now I am paying More principal with each payment since the loan is seasoned...Does this matter.Please advise. Ginger Thank You

Keywords:
                

I think you would be best staying where you are. If you can afford to make an extra payment each yea...

[ Total Answers: 1 ]

 
 

Asked 12/30/2008 08:05 am CT (North Platte, NE)

looking to refinance; issue, credit score of 528. Any institutions that will refinance for a fixed rate to lower payments? The Arm keeps adjusting into a higher payment. thank you

Keywords:
                      

You are more likely to succeed with a loan modification if you are simply looking to lower your paym...

[ Total Answers: 1 ]

 
 

Asked 12/17/2008 10:01 pm CT (San Jose, CA)

I have been hearing and reading for the past year about the mortagage crisis and resulting foreclosures and don't understand why these experts are coming to this conclusion. I can't wait until my loans convert. I have a 5.75% fixed rate that will convert shortly. My index is the 12 month treasury moving average which is at 2.0%. My margin is 2.25% giving me a fixed rate for the next twelve months of 4.25% which I confirmed with my lender if my loan were to convert today ie. a lower payment. I believe that most of the no interest loans originated three to five years ago would be fixed for the initial period at approx. 5.375% to 6.25% with margins of 2.25% to 2.75%. Also, most indexs used are the 6 mo. LIBOR, 12 mo. LIBOR, 11 district or one year treasury, all very low. By adding the margin most of these loans should refix at very favorable rates. Yes, there will be principal (repaid to yourself) and a 25 year amort period. Nevertheless, is the whole world wrong or am I not seeing this right? This mortgage resetting is a monumental part of this national crisis and causing widespread foreclosures because of supposedly higher monthly payments. As far as I can see the numbers just don't support higher payments and this foreclosure meltdown. Can you please clarify. Thanks, Rick

Keywords:
                                  

Rick: Great analysis. Thank you for taking the time to show how a good adjustable rate mortgage is...

[ 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 11/24/2008 02:08 pm CT (Sparks, NV)

I own a single family home with a mortgage balance of approx $175K on a 6.25% FHA 30-yr fixed. The home's market value has declined steadily and is now worth approx $140K. I am not behind on any payments yet, and my credit is excellent with a current FICO of 768. I'm expecting a 20% reduction in work hours - and thus a 20% reduction in income - effective 1/1/09. This loss of job hours will inevitably result in falling behind on the mortgage payments at their current level. Will I likely be more successful in approaching the mortgage company for a loan modification for 1) a substantially lower interest rate on the current balance (propose approx 3%); or 2) reducing the balance to the realistic market value; or 3) some other measure or combination of the above?

Keywords:
                                          

 
 

Asked 11/18/2008 09:17 am CT (Seattle, WA)

? Refi Mobile home currently 3 late mtg payments filed BK 2006 currently on arm wants to be on a fixed cash out any ideas? 85% ltv

Keywords:
          

The best thing to try for is a loan modification as you will not be able to qualify for any loan wit...

[ Total Answers: 1 ]

 
 

Asked 09/22/2008 09:41 am CT (San Bernardino, CA)

September 2011 is the 5th year of our 5 year ARM mortgage. Our Plan A: buy a new home with a fixed rate then keep our old home as long as we can (family will rent it) in case we will be able to refinance it before 2011. Disadvantage: With this economy, its very unsure. We need to save also. It would be hard paying for two houses. Plan B: Get a new home with with a fixed rate then let go (foreclose) of our old home. Is plan B "illegal"? will that put us in trouble of taking advantage of the situation? Or is it totally okay giving us a chance not to be under water when our mortgage will shoot up to the roof? We just want to be safe in this economy. We don't want to get stuck and wait for our mortgage to balloon with our ARM mortgage. We've been trying to have it refinanced but it's been really impossible.

Keywords:
            

Hi There! You never want to "Let Go" of a house. Any time you have a foreclosure on your home it...

[ Total Answers: 1 ]



Pages:  1 
 
 2 
 
 3 
 
 4 
 
 5