Why It's So Hard To Get A Mortgage According To A Loan Officer – To be considered a qualified mortgage, a loan amount cannot exceed a total debt-to-income ratio of 43%. In the past, plenty of borrowers were up to 70%+ . Average mortgage refinance or new mortgage lengths have doubled in the past four years as a result. 2) We don’t want to get burned again by liars.
Home loan Calculators and Tools – HSH.com – Mortgage Calculator with Amortization Schedule. The classic: Full payment-by-payment amortization of your loan and a print-and-take-away schedule.
Easy or Hard to Get a Mortgage Loan in 2015? Here's What HUD Says – In other words, it’s too hard to get a home loan these days, even for well-qualified borrowers. New lending rules , such as the federal government’s so-called Qualified Mortgage rule, have made lenders increasingly fearful of underwriting mistakes.
Why Is It so Hard to Get a Mortgage Loan Modification? – A loan modification is a permanent change to one or more of the terms of a mortgage loan such as the interest rate, length of the loan, and principal. They have existed for a long time, but have only recently been needed for millions of homeowners.
How to Get Approved for a Mortgage – Money Under 30 – Figure out how much you can save for a down payment. Next, determine how much you can save for a down payment to put towards your first home. In today’s market, expect your mortgage lender to require at least a 10 percent down payment unless you’re getting an FHA loan or another special program loan. If you have it,
Why You Should Get a VA Home Loan If You Qualify – Ideally, you’ll be able to keep up on your mortgage payments easily, but if you fall on hard times, the VA can assist you so your home doesn’t go into foreclosure. They will negotiate with your lender.
Hard Money Loans – Mortgage Loan Rates & Advice Since 1995 – "Hard money" loans are made by private investors or mortgage companies who are more lenient and flexible about accepting risk, compared to mainstream lenders. These loans are often the vehicle of last resort, made to consumers who are unable to get adequate financing from conventional lenders like banks, credit unions, and traditional mortgage.
Pros and Cons of Hard Money Loans – Make Money Personal – Most hard money lenders keep loan-to-value ratios ( LTV ratios) relatively low. Their maximum ltv ratio might be 50% to 70%, so you’ll need assets to qualify for hard money. With ratios this low, lenders know they can sell your property quickly and have a reasonable shot at getting their money back.