Is there such a thing as home loans based on wages rather than your credit?
- things change daily. in the past they would ask for more down payment and pay a higher interest rate. but nowadays if you have been working at the same place for more than 2 years, and have at least 20% down they may look at you. your best bet is ask a mortgage broker but before they run your credit. It would help if you know your credit score already. also bear in mind that each time your credit is run it will lower your score, so that is why i say ask before they run it. also ask for a copy of your credit report from them when they do run it. it is good for 3 months. good luck. we are in the process of buying a house and we are self employed. it is very hard. we show low income. and we have an 800 score. he said we would have a better chance if we had a minimum paying job we have to have all our credit paid off showing zero. also they told me to close my credit cards. i refused. that action will lower your credit score drastically. so now we wait. they are making us jump through hoops. we had a house mortgage of 700, 000 and never a day late. sold the house and now we are trying to get a 100, 000 loan with 60, 000 down. we just find it a joke the crap they are telling us because we are self employed. so good luck and ask
- Nowhere, there is no such loan. Loan approvals are based on a variety of information like, they will review your finances, such as income, job history, credit history and other credit factors
- Take a couple years to clean up your credit and start saving up for downpayment and closing costs. Mortgage lenders will look at your credit history, stable work history, income, other ets, debt to income ratio, and other things
- there are government programs. FHA, FMHA, WHEDA, VA, HUD, etc. some may not be available in your area and it takes a long time. i bought a house in 88 with an fmha loan. very little credit history and no down payment. payments were based on wages on a yearly basis. interest was subsidized. be aware that when fmha decided i made enough and could get a conventional loan i had to refinance with a mortgage at a bank and i had to pay 10k in back interest to fmha
- $40k would not get you much of a house anyway. I suppose that depends on where you live a little though. Making money is no reflection on the likely hood of it being repaid
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i would like to know if anyone can recommend a good online investment service. smithbarney.com, etc. who has the lowest transaction fees? who offers the best services. try this one:online investments. i think they are very good. i have all my investments there and i made quite a lot of (home investments)
i am looking to invest 30, 000. i am 40 ish and will not need the money till retirement so i am looking for a safe investment. maybe an annuity? i already have ira's. any suggestions?. if you are in the us, the safest investments are cd's. both the principal (investment firm)
i have seen so many people online selling information about obtaining a hundred percent financing for real estate transactions but all of the ones that i have tried have not really worked. does anyone know of any a hundred percent financing strategy that really works? any information would be greatly (real estate investor)
Knowledge Base: Home Purchase
a home purchased for $3000, 000 depreciated 8% over a 1 - year period. what was the value of the home after the end of the year?. $300, 000 8% depreciation = $24, 000 300, 000 - 24, 000= $276, 000. well. it decreased in value for 1 year at (home equity line of credit)
there are two owner of a house. mortgage is under one and other owner wants to get home equity line of credit. home value right now will be at lease $ 800, 000 & current mortgage balance is about $ 200, 000. it is newyork city. is that possible to (home purchase)
can we back out on a home purchase deal without losing our $20, 000 deposit. we have just found out that there is a serious leaking problem in the apartment building right before the completion day!. read your sale contract - it will discuss remedy for breach, and the leak (home loans)
looking for home construction or home purchase loans for people with credit that is poor. any ideas?. talk to a bank. that's the best advice i can give you. also look up special programs in your state / county for people in your situation. you'd be amazed at what you (home purchase)
does anyone know of a financing company out of maryland or abroad that can i ist me with a home loan? i really do not have any credit and credit i do is not substantial. i have been denied from several companies and i just need a low interest rate? (home purchase)
Knowledge Base: Home Loans
some people have credit cards to buy things they know they do not have the money for, uming they can pay it later. its one thing to take out car loans, home loans, student loans. i try my very, very hardest to always live way below my means. in fact! (home loans)
in your country, do you get home loans at a fixed rate for say 15 years? do you have to pay a large penalty for pre - paying? if the loan is at a floating rate, what is it pegged to? do loan rates vary according to individual credit profiles?. (home loans)
is there such a thing as home loans based on wages rather than your credit? i do not have good credit because of some old bills. i am paying them off. my rent is never late. i make around $40, 000 a year depending on overtime. where can i go (home loans)
did countrywide home loans acquire your home mortgage, then aggressively pursue foreclosure proceedings against your property forcing you to refinance or sign an unfair loan. i thought there was a cl action against countrywide going on. i did a search and found a bunch of attorneys suing countrywide. check out (home loans)
i have heard a friend of mine go completely nuts every time her customers shop around for home loans. what do these lender expect someone to just trust them when they say (home loans)
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