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Tammy Hughes
3 months ago
The home is an older home but appears to be a solid house with new heating and air systems. It does need to cosmetic work on the inside but nothing major that I can see, mainly paint and new flooring. The asking price is $43,00.00.
 
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Best Expert Answer
Joe Wallace... Answered 301 more questions
3 months ago
The home would be required to pass an FHA appraisal, which it should be stressed is NOT a home inspection-borrowers should pay for the separate home inspection as the FHA cannot guarantee the home is defect free even if it passes the appraisal. Passing the appraisal depends on a variety of factors including whether the property meets state/local building code. Not being able to operate the appliances may or may not be an issue depending on state law and building code requirements.
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ramon ibarra
2 years ago
For example, I bought my house for $158k. My current mortgage balance is $142k. The bank told me a few days ago my home is worth about $245k.
For example, I bought my house for $158k. My current mortgage balance is $142k. The bank told me a few days ago my home is worth about $245k.
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A Curious User
a year ago
The current mortgage is an FHA loan, and the mortgage documents say that it is an assumable mortgage. How do I get this process started? Is it similar to refinancing? Will the property need to be appraised? I also need to know if it is possible to assume the mortgage, given that I now have one income, instead of two.
The current mortgage is an FHA loan, and the mortgage documents say that it is an assumable mortgage. How do I get this process started? Is it similar to refinancing? Will the property need to be appraised? I also need to know if it is possible to... (more)
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A Curious User
2 years ago
My property is zoned for mixed-use (residential and commercial).
My property is zoned for mixed-use (residential and commercial).
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Matthew Hall... Asked 1 more question
2 years ago
My home value has risen enough within the last year to where what I owe is 80% of the current value of the home according to the county appraisal. I am still a long way off from 80% of the original purchase value. Is it possible to remove the MIP based on the current value of the home?
My home value has risen enough within the last year to where what I owe is 80% of the current value of the home according to the county appraisal. I am still a long way off from 80% of the original purchase value. Is it possible to remove the MIP... (more)
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A Curious User
19 days ago
I am still on a mortgage with my ex-spouse, who has resided in the house that we share a mortgage on, and has paid for it solely and on time for the past 6 years. That house and mortgage are also deeded to my ex-spouse in a quitclaim deed in our divorce. With appropriate documentation, can the monthly payment of that mortgage be withheld from my DTI when I apply for an FHA loan for a house of my own?
I am still on a mortgage with my ex-spouse, who has resided in the house that we share a mortgage on, and has paid for it solely and on time for the past 6 years. That house and mortgage are also deeded to my ex-spouse in a quitclaim deed in our... (more)
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