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Chasity Mathis
8 days ago
I have been paying on them for the last 6 months. I have a repo on my credit. Will this completely stop me from being approved for a home loan?
Best Answer:
The answer will definitely depend greatly on a variety of factors including the type of loan you are applying for (FHA, conventional, etc) and also whether you are in a satisfactory repayment program and can show that in writing. The repo issue is... (more)
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If the asking price of the home 90K but it's appraised for 125K, can borrow the full amount of 125K?
Best Answer:
What kind of home loan are you asking about? FHA? Conventional? VA?
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Norma Rosado
14 days ago
For the past five years I have been receiving Social Security payments. Six months ago I was laid off from my job. I spoke to one of your representatives and they said I could use my Social Security payments as income. My roommate receives SSI payments separately. She was wondering if she could use her income together with mine to raise the borrowing capability for a better home.
Best Answer:
Would your roommate be a co-borrower or co-signer on the loan?
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A Curious User
17 days ago
I understand that FHA loans are given in rural areas. Is there a list of areas that are available for that type of loan?
Best Answer:
Are you thinking of USDA loans? Those home loans are for homes in rural areas, where the FHA loan program is for any qualifying property that meets FHA minimum standards. You can learn more about eligibility and approved areas for USDA loans at:... (more)
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Janice Horsman
23 days ago
the UW wants our well inspected--what form or format do we use to satisfy the question?
Best Answer:
the UW wants our well inspected--what form or format do we use to satisfy the question?
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b herrera
a month ago
Low credit score, collections but good income.
Best Answer:
FHA loan rules in HUD 4000.1 state:

"A Chapter 7 bankruptcy (liquidation) does not disqualify a Borrower from obtaining an FHA-insured Mortgage if, at the time of case number assignment, at least two years have elapsed since the date of the... (more)
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Kathie Wygant
a month ago
-instead of a mod they redid my loan again for 30 yrs and added PMI again. No new appraisal was done and I was well below my LTV-should I have been charged PMI again? I am told I have to pay this again for another 5 yrs. I think I was ripped off.

When I inquired about this all they did was resend me my paperwork and said I had to pay another five years of PMI. I don't think this is right. How can I go about getting this resolved?
Best Answer:
Do I understand your question correctly that the finance company did not do a loan modification but rather refinanced your loan? What is the date of the new loan?

Also, what type of loan did you get refinanced into? FHA, conventional? That would... (more)
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Lisa Capone
a month ago
I submitted an application for an FHA Mortgage and going through the process now. I had a Home Inspection done and there are major fire/safety/hazard issues and I was thinking of walking away from the deal if the Seller doesn't agree to fix these problems. I let the Lender know this and he told me I would lose a $500.00 non refundable fee along with my Home Inspection fee (which I know about the home inspection) . I never heard of losing additional fees/monies.
Best Answer:
It may depend on what the $500 fee is for--what does the lender say about the purpose of the fee?
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A Curious User
a month ago
Property located in North Carolina, 3 bedroom 1 Bath needs total rehab, plan is to further build out and attach an apartment on existing structure/ land. What is required of me to get funded?
Best Answer:
Are you looking at conventional loan options? FHA? What type are you considering?
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terry Smith
a month ago
I am a first time home buyer who just recently repaired my credit
Best Answer:
Credit scores above 580 technically qualify for an FHA loan at maximum financing (minus the required down payment) but individual lenders may have higher FICO score standards.
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