Q&A
Asked by Gina
Hi Gina:
I can give you the answer from the
perspective of a mortgage loan originator -
Generally speaking, anytime you utilize credit
and you pay that credit withi...
Q&A
Asked by Tony
Tony:
First, congratulations. Second, this
is a great question and one that I would also
advise having your CPA (or tax preparer) and a
financial adviser answer as ...
Q&A
Asked by Jamie
Jamie:
Thank you for your inquiry. DTI is
determined by taking whatever secured debt you
have (generally those on your credit report)
against your income, represent...
Q&A
Asked by Brian
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Upvote 89
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Hello Brian:
There are a multitude of loan
programs that require credit scores that are
across the spectrum.
The most efficient
way to approach purchasing a hom...
Q&A
Asked by Erin
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Upvote 25
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Hi Erin:
That depends on the type of loan
you have. If it's an FHA loan, the new
guidelines state that the MI will stay on for
the life of the loan. If it is conven...
Q&A
Asked by Tony
Hi Tony:
Great question! Most of the world
pays their mortgage every month, i.e., 12
payments. However if you split that into a
payment every 2 weeks, you get 26 "h...
Q&A
Asked by John
Hi John:
Yes there are definitely "no-cost"
refinances. You will ALWAYS see fees but the
key point is whether or not those fees are
simply being "rolled into" the n...
Q&A
Asked by Scherrylain
I'd recommend doing the home equity line for
two reasons: the cost will be far less than
obtaining a purchase loan for that small of
amount, and you'll essentially be...
Q&A
Asked by Martha
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Upvote 26
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Yes, many banks will SLIGHTLY reduce the
interest rate on a loan if you set up an
escrow account with them for taxes and
insurance. Good luck!
Q&A
Asked by Michael
Michael covered most of the pertinent areas
already, but I'd like to add a couple of major
"disadvantages". If your spouse's credit
scores are lower than yours, the l...
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