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Sylvia Brown
a day ago
I am currently getting a degree with financial aid.
Best Answer:
FHA loan rules say it is possible to apply for a home loan while paying on a student loan or having one in deferred status, but you'll be required to furnish paperwork of the loan' status and the lender will need to know specifics such as... (more)
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15
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William Kromah
3 days ago
The property is located at:
1504 Crestline Road
Silver Spring, MD 20904
Best Answer:
Have you spoken with an attorney with expertise in real estate law?
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14
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David Cash
5 days ago
I am trying to eliminate the PMI. My loan is 599,000 while the value of the home is over 1 million. The loan was started in April 2012. Can I eliminate PMI? If so, what steps do I need to take?
Best Answer:
Are you asking about private mortgage insurance on a conventional mortgage or the FHA Mortgage Insurance Premium for FHA single-family home loans?
For conventional mortgages, you may need to speak to your loan officer to discuss the private... (more)
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REFINANCING A PRIMARY HOME TO 15 YEAR, FIX RATE WITH RATIO VALUE, 60%, DO I HAVE TO PAY PMI?, IF THE RATIO REACH 90% IN 5 YEARS, CAN THE PMI REMOVED?. WHY WE NEED TO WAIT 11 YEARS?. HOW WE CAN REMOVE IT?
Best Answer:
What kind of refinancing loan are you applying for? Conventional? FHA? VA?
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Ahmed Hasan
6 days ago
I am an independent IT consultant on (1099) status.

I can put 10 - 20 % down on a 400 k home and have a 750 + credit score.

Would I be able to qualify? OR do I need to have a full-time job in order to qualify for the loan?

Thanks
Best Answer:
FHA loan rules in HUD 4000.1 do make provisions for self-employed people. You'll be required to provide tax statements and other documentation of your income, and additional lender standards may apply, but under the rules of the FHA loan program,... (more)
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16
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A Curious User
7 days ago
Can I apply for an FHA streamline loan to lower my interest rate and add my brother to the deed? I do not live in the house but he does. I know the streamline refinance is only if it is your principle residence, but if I am allowed to refinance and add him it will be considered his principle residence.
Best Answer:
FHA rules do allow a borrower to add another name to the title in such cases. "Individuals may be added to the title on a streamline refinance without a credit worthiness review, and triggering the due-on-sale clause." While these are the... (more)
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Gerri Reeves
8 days ago
We are selling our current home that is an FHA and approved for another FHA on the home we are purchasing. We want to simultaneously close these homes, can we do that? Close Current home in the morning and new purchase in the afternoon...in the same day?
Best Answer:
HUD 4000.1 does not seem to specifically address this issue, but it's likely safe to say that state law and lender standards would be the applicable requirements in such a case. Is your lender the same for both transactions? If so, it's best... (more)
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Mindy Sulier
10 days ago
Wondering if there are any programs like the back to work program currently available. Thanks
Best Answer:
The Back To Work program has been discontinued by the FHA, but you may find this resource useful-it's a link to the FHA official site for housing counseling: https://portal.hud.gov/hudportal/HUD?src=/i_want_to/talk_to_a_housing_counselor
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24
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A Curious User
10 days ago
Ive been in a purchase agreement for 2 years and closed today. I found out yesterday that I got a promotion out of state. I know i can have 2 FHA loans because of my job relocating me but how does this affect the selling of the house? Does the mandatory job relocation change the selling process?
Best Answer:
Borrowers are generally free to sell the home with no waiting period. Selling the property is generally permitted under FHA loan rules, but borrowers should contact the FHA directly at 1-800 CALL FHA to discuss their individual circumstances for... (more)
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A Curious User
12 days ago
i own the house without mortgage. is there a fha loan for cash out? i do not want reverse mortgage .
Best Answer:
Yes, the FHA guidelines allow for a homeowner to do a cash out refinance up to 85% of the appraised value of their home. You can see the pros and cons at https://www.fha.com/define/cash-out-refinance
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