Archive for house mortgage
May
02
HELP! MORTGAGE PROBLEMS?
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if you have no credit score whatsoever, is it possible to get a mortgage..?? & how do i go about getting one..??
please help..!!
all help is really appreciated..!!
tried to apply for credit card.. but no luck either..!!
May
02
Look at any trend chart, and you’ll see a definate spike resulting in a nearly 3/4% increase in a week! Any idea what caused this? According to the morning news, yesterday’s meeting by the fed decided to leave rates at an all time low. So… if the fed’s rates are at an all time low, why are mortgage rates up? For that matter, what causes them to change?
May
01
Where can I find out current home mortgage rates for my area?
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Does anyone know where I can find out the current mortgage rate averages for my geographic area? I’m looking at possibly refinancing and want to know if it would be worthwhile. Also, can I expect any costs when trying to refinance?
Apr
30
Will 30 year fixed rate mortgage rates ever go down?
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Everybody keeps saying that the economy needs a jump start – well, I am certainly willing to do my part and spend more once I have refinanced my current mortgage. However, it seems like the 30 year fixed rates continue to hover around 6-6.25%. Is there any reason to believe that these rates will fall?
Apr
25
Getting a new home but having some problems with mortgage?
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Recently I found a house and planned to buy it. He already got pre-approval from the mortgage company. The broker told me the worse interest rate I will have would be 8.5% since I had bankrupcy within 2 years and has back childsupport judgement (about 10k and I have been paying on it). Today the mortgage company told me that they found 2 lenders for me and one of them is 100% loan with 9.5% interest rate and the other one is 80/20 loan with 8.5% interest rate on the 80 and 12.9% for the 20. I dont understand why the broker told me that I will not get any interest rate higher than 8.5% and now the story totally changed. I already found a house and am happy to get it but I really cant afford the payment with 9.5% interest. The loan I am supposed to get is 85k and with the 9.5% interest, I will need to pay about $700 a month on house payment. I dont know if the broker is not lying to me or he is not trying to help me find a better rate? Besides, why do I need to pay $3000 on closing cost?
My broker also told me not to try to get a quote from other brokers because once they run my credits, it will hurt my current interest rate and credits. She said since my credits are on the edge and DONT NOT TRY TO RUN THE CREDITS or I will lose the loan (9.5%). Is is true or she is trying to scare me not to find a better broker?
Apr
23
Why do mortgage rates go up when the term goes up?
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I’m looking at mortgage rates for closed term, ranging from 6 months to 10 years, and I’ve noticed that the rates actually increase as the length of the term gets higher. Why is this the case?
Apr
20
How long til it is revealed in mortgage rates?
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If the fed lowers interest rate 1/4 percent or possibly 1/2 percent this week as expected, how long til it is realized in mortgage rates?
Thanks! I’m a little confused, but thanks for the answers! I did go to bankrate.com and their experts predict rates to fall further due to either the fed or lackluster employment numbers. Apparently, predicting mortgage rates is harder than ever.
Cheers!
Apr
13
(in reference to my question) Short term interest rates only apply to installment loans such as credit cards, but they do not have any impact on mortgage rates because those are determined by Treasure Bond rates or long-term rates.
Apr
09
How do current mortgage rates help new home builders?
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I’d like to buy new construction as a result of the great mortgage rates right now. However, by the time I’d close on my house in December, it could be a totally different ballgame and rates could go through the roof. It seems to me, then, that low mortgage rates only help people refinancing or buying an existing house.
Apr
09
What problems should I expect if I walk out of my mortgage?
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I have a home & mortgage under my name. But I don’t own it. It belongs to my ex-brother-in-law, who purchased it. He fled the country now. Its hard to sell and location is too far. I don’t want the home & don’t want to pay his mortgage. If I walk out, the bank takes possession, right? What problems should I expect? Will it affect me, if I purchase a home 2 years from now?
