Are you a Loan Officer?
I am not. Although, my friend is a loan processor, and that job is stressful and hard. He says by contrast, the loan officer position is not as stressful, and it is not fully of "busy" work. The downside to being an L.O. is that it requires strong sales skills which you must possess. It's not for people who can't sell.
Need advice on buying a house.?
So my boyfriend and I are wanting to get a house. But we don t know how to go about getting one. He makes $18 an hour and I make $12 an hour at one job and $9 at another. What would we be able to afford. Also what do I need to know about when it comes to buying a house. We don t have bad credit we are just trying to build our credit. I want a really nice house with a beautiful kitchen but I want to make sure I can afford it
Is it possible to buy a house with no closing costs.?
Is it possible to purchase a home with no closing costs. I mean, I have more than enough money for a down payment. A recent check has left me with enough money to pay off all of my debts, and after taxes and fees I will still have $66,000 left and I am willing to put around $45-50,000 down as a down payment but I can't stand the thought of paying fees and stuff. To me it's just rediculos. I mean I am borrowing around 50-60 thousand dollars and they want to stick me with fees to take out a loan. Thats crazy. I know you can get a re-finance with no closing costs, but I am talking about me seeing a house for sale in the paper or on the internet, and buying it. I want to avoid closing costs. Please no answers from people who all they do is search google for all their answers. I am looking for someone who actually knows what they are talking about. I am looking to purchase a home within the next 30 days in Lake County Indiana if that makes a difference.
My friend and I want to buy a house for about $290,000. Can we get a loan for no money down?
No money down mortgages are NOT a good idea - especially now that the real estate market is slipping. If you mortgage 100% of the house at $290,000 and the value of the house decreases (as most homes are doing now and will likely continue to do for the next few years) then you still owe the lender (bank) $290,000, but you may very well not be able to sell the house for as much as you are paying for it - which means that you will have lost money on it. A terrible situation for two students! Real Estate investing is risky and should only be done with 'extra money' that you have and that you could afford to lose. Don't let all of the flipping shows on tv make you think that this is a way to get rich quick - it is very risky. If you are still insistent that you want to go ahead and do this - talk to a mortgage broker - they can get almost any kind of loan for almost anyone. Also - be sure to have a lawyer involved to draw up an agreement between you and your friend for how costs, responsibilities and profits are to be shared.
FHA Loan and mortgage question?
My credit score is 650, debt to income ratio is 24% and going down, and I make around $100k a year. Been with the same company for 3 1/2 years, promoted 7 months ago, and love my job. My issue here is my credit history. I'm 29 years old and it's been a rocky road because of a few bad decisions in the past. There are no repo's or bankruptcies but a bad charge off, late payments etc... The good thing is that in the past 2-3 years, I've haven't missed any payments or made any late payments. Income taxes are slowly killing me and purchasing a home will definitely help with a nice deduction. As well, I've always wanted to be a home owner. What are my chances here at getting a decent FHA loan or any loan for that matter? I'm figuring a home purchase of around $200k with $10k down...