Jul
31
Question by Benji: How does trading a car affect the outcome of a home loan?
I want to know if its a bad idea to trade in my $ 11k car for an equal value truck. I am going to be buying a home in about 4 months, and i don’t want the trade to mess up anything with the home loan.If its bad before the home loan, what about after the home loan is completed? I know it would be best to just keep the car, but i need a truck.
Best answer:
Answer by cork
IF YOU NEED A TRUCK.. DO IT.A HOME LOAN WON’T BE MADE OR BROKEN ON SUCH.YOUR CREDIT IS STABLE OR NOT….
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Jul
29
Q&A: Will a mobile home loan company give you part of the loan for sewer and water setup?
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Question by Eskimo: Will a mobile home loan company give you part of the loan for sewer and water setup?
I have to set up the sewer and water on my land, and it will cost me about 4,000 dollars. Do most mobile home loan companies work with you on that? If not, where else tin i get a loan for it?
Best answer:
Answer by golferwhoworks
yes it is part of the package loan for set up
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Jul
27
Q&A: What percentage of your income goes towards your mortgage payments?
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Question by Ash: What percentage of your income goes towards your mortgage payments?
If you don’t mind my asking, I’m trying to figure out what a reasonable percent of my income is to be going towards a mortgage payment. My partner and I make around $ 6500 megascopic monthly, and I’m wondering what percent of that we could reasonably spend on a mortgage without getting in over our heads. We have no other debt, but have normal bills like utilities and car insurance. If you don’t mind could you delight give me an idea of what you earn and what you put towards your mortgage? Or what percent of your gross income goes towards your mortgage payments?Thanks so much!
Best answer:
Answer by MonaLisa Overdrive AM VT wannabe
The rule of thumb is 30% of your take home, or 40% of your gross. Remember that the interest and proprty taxes (most of your payment in the first years) is tax deductible.
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Jul
25
How much money do mortgage brokers make?
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Question by Carson: How much money do mortgage brokers make?
I heard that mortgage brokers drive Porches and make tons of money. By and large, how much does the average mortgage broker make?
Best answer:
Answer by Yrent.com
There is no primed amount the average mortgage broker makes. It is a sales buiness and all depends on the amount of business they do on a given year. the last 6 years have been really well for us. So there is a dinning of Brokers showing off their earnings.
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Jul
23
What is your monthly mortgage payment and your household income?
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Question by Opea51: What is your monthly mortgage payment and your household income?
Getting ready to buy a house and equitable curious what populate find comfortable. What is your mortgage payment (including taxes and insurance), and your household income, and are you comfortable with your mortgage?Thanks!
Best answer:
Answer by RetiredDebtFree
To keep from getting in over your head and being financially stressed, your monthly total mortgage payment (PITI) should not exceed 25% of your take-home pay. Lenders will tell you 30% or more, but that school of thought leads to families struggling with the reality of home ownership and all the other expenses. Being a home owner is expensive: regular maintenance (air filters, cleaning products, light bulbs, etc.), major repairs like heat & air, roofs, window replacement, painting), yard upkeep, appliance repair and replacement, plumbing emergencies, garage door repair, furnishings and replacing old furniture from time to time, insect and termite control, fence replacement, and the list goes on and on. Don’t buy the biggest place your lender will allow. Being in debt for your house will hamper you ability to save for future major financial obligations and wishes like vacations, family, retirement, medical expenses, and the occasional toy or trinket.
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Jul
21
Question by lil_shortiesunshine: How can you get a home loan with really poor credit?
My husband, myself and our kidding, are living with his parents, for the past six months. We both have very poor credit and are in desparate need of our own place. We now can afford our own place but cannot get a loan to purchase one. We have down payment in hand, and the monthly income to afford everything, but we are still without a home! Can someone please help with an idea of how to get a $ 6500.00 loan?There is no other proerty or anything to be used for a mortgage! We are trying to purchase a very nice 3BR,2BA, mobile home. We have nothing other than the down payment to put on it, and can afford the monthly payments, and the insurance, along with everything else.
Best answer:
Answer by dinaroseplunkett
My friends, a very young couple, were in the same situation. What they did is something called a no-doc bond. They don’t ask where you got money, your history, your credit, etc. and you don’t tell. I am not sure how to unearth one but do know it exists b/c they have a very nice three bedroom in New Jersey.
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