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HLS
Participantwaiting..
You are confusing apples and oranges.
You can contact me if you wish.
[email protected] HLSParticipantWaiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
***************************************Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.
So many guidelines, impossible to generalize.
Inmates in charge of the asylum. HLS
ParticipantWaiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
***************************************Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.
So many guidelines, impossible to generalize.
Inmates in charge of the asylum. HLS
ParticipantWaiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
***************************************Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.
So many guidelines, impossible to generalize.
Inmates in charge of the asylum. HLS
ParticipantWaiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
***************************************Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.
So many guidelines, impossible to generalize.
Inmates in charge of the asylum. HLS
ParticipantWaiting, Not sure what you are asking. Are you looking to buy a primary here OR refi your rental ??
With a rental you normally only get credit for 75% of rental income, and you may need to prove it with tax return schedule.
The low rates are for owner occupied properties only.
Any negative gets factored in to monthly debts.
***************************************Ralph, 3.5% down is still availble from FHA. Usually comes with 1.50% upfront fee and mortgage insurance for at least 5 years, regardless of LTV.
Similar to a subprime loan of a few years ago. Allows people with crappy credit and little money to buy a house, only difference is it’s full doc only, no stated income, and debt ratios in the low 30’s.
Courtesy of the govt. to build a “home ownership society”They have already determined that the best prediction of a future foreclosures is the % amount of a down payment, yet they continue with low down payment programs.
FNMA new program is different. I think 10% down is minimum.
Below $417K 5% down is possible if mortgage insurance is available.
So many guidelines, impossible to generalize.
Inmates in charge of the asylum. HLS
ParticipantPR, I agree with you..
I am totally against FHA 3% down with 580 credit scores.
I believe that many FHA loans originated today will be the subprime of tomorrow.
They may lead to more foreclosures that anyone imagines..allowing people to buy homes just because they want to.I don’t do them..
Lenders tell me how popular they are and I can only think of mortgage originators pushing people into loans with no reserves just so they can make a commission. Most mortgage advisors are clueless.The upfront fee is 1.50% of the loan amount and mandatory mortg insurance for 5 years.
The govt is working on a plan to back mortgages @ 4.50% for purchases only…(no refi’s is the rumor)
Still need to qualify by FNMA & FHLMC.They are VERY desperate to try and find a floor to housing.
They are focused on middle america where ppl cannot afford to buy $100K-$200K houses.
Their plans are not going to save southern CalifIf 10% down had been required since 2002, we wouldn’t be in this mess.
5.00% 30 YR fixed available today are the lowest rates ever….
HLSParticipantPR, I agree with you..
I am totally against FHA 3% down with 580 credit scores.
I believe that many FHA loans originated today will be the subprime of tomorrow.
They may lead to more foreclosures that anyone imagines..allowing people to buy homes just because they want to.I don’t do them..
Lenders tell me how popular they are and I can only think of mortgage originators pushing people into loans with no reserves just so they can make a commission. Most mortgage advisors are clueless.The upfront fee is 1.50% of the loan amount and mandatory mortg insurance for 5 years.
The govt is working on a plan to back mortgages @ 4.50% for purchases only…(no refi’s is the rumor)
Still need to qualify by FNMA & FHLMC.They are VERY desperate to try and find a floor to housing.
They are focused on middle america where ppl cannot afford to buy $100K-$200K houses.
Their plans are not going to save southern CalifIf 10% down had been required since 2002, we wouldn’t be in this mess.
5.00% 30 YR fixed available today are the lowest rates ever….
HLSParticipantPR, I agree with you..
I am totally against FHA 3% down with 580 credit scores.
I believe that many FHA loans originated today will be the subprime of tomorrow.
They may lead to more foreclosures that anyone imagines..allowing people to buy homes just because they want to.I don’t do them..
Lenders tell me how popular they are and I can only think of mortgage originators pushing people into loans with no reserves just so they can make a commission. Most mortgage advisors are clueless.The upfront fee is 1.50% of the loan amount and mandatory mortg insurance for 5 years.
The govt is working on a plan to back mortgages @ 4.50% for purchases only…(no refi’s is the rumor)
Still need to qualify by FNMA & FHLMC.They are VERY desperate to try and find a floor to housing.
They are focused on middle america where ppl cannot afford to buy $100K-$200K houses.
Their plans are not going to save southern CalifIf 10% down had been required since 2002, we wouldn’t be in this mess.
5.00% 30 YR fixed available today are the lowest rates ever….
HLSParticipantPR, I agree with you..
I am totally against FHA 3% down with 580 credit scores.
I believe that many FHA loans originated today will be the subprime of tomorrow.
They may lead to more foreclosures that anyone imagines..allowing people to buy homes just because they want to.I don’t do them..
Lenders tell me how popular they are and I can only think of mortgage originators pushing people into loans with no reserves just so they can make a commission. Most mortgage advisors are clueless.The upfront fee is 1.50% of the loan amount and mandatory mortg insurance for 5 years.
The govt is working on a plan to back mortgages @ 4.50% for purchases only…(no refi’s is the rumor)
Still need to qualify by FNMA & FHLMC.They are VERY desperate to try and find a floor to housing.
They are focused on middle america where ppl cannot afford to buy $100K-$200K houses.
Their plans are not going to save southern CalifIf 10% down had been required since 2002, we wouldn’t be in this mess.
5.00% 30 YR fixed available today are the lowest rates ever….
HLSParticipantPR, I agree with you..
I am totally against FHA 3% down with 580 credit scores.
I believe that many FHA loans originated today will be the subprime of tomorrow.
They may lead to more foreclosures that anyone imagines..allowing people to buy homes just because they want to.I don’t do them..
Lenders tell me how popular they are and I can only think of mortgage originators pushing people into loans with no reserves just so they can make a commission. Most mortgage advisors are clueless.The upfront fee is 1.50% of the loan amount and mandatory mortg insurance for 5 years.
The govt is working on a plan to back mortgages @ 4.50% for purchases only…(no refi’s is the rumor)
Still need to qualify by FNMA & FHLMC.They are VERY desperate to try and find a floor to housing.
They are focused on middle america where ppl cannot afford to buy $100K-$200K houses.
Their plans are not going to save southern CalifIf 10% down had been required since 2002, we wouldn’t be in this mess.
5.00% 30 YR fixed available today are the lowest rates ever….
HLSParticipantAN…
You have mailmy address is [email protected]
ParticipantAN…
You have mailmy address is [email protected]
ParticipantAN…
You have mailmy address is [email protected]
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