I am closing on a house in the next week in Illinois. I am planning on spliting up my mortgage payment into a bi-monthly payment. Any ideas as to how long after closing before I have to make my first payment?
Apr 122012
I am a first time home buyer. I wonder how I can get the best mortgage rate? I am not thinking about buying points or anything. Instead I want to reduce my cost on getting the loan. Is there any websites listing different mortgage rate from different mortgage companies?
Apr 092012
We applied and were approved for a refinance on our mortgage. The day before closing the underwriter says that the expenses we claimed in our tax return last year(approx $ 20k) were to be deducted from the income and therefore the ratio was off. I’ve never heard of this. I assumed that this would have [...]
Feb 132012
I already have a 30 year fixed (6.38%) but would like to take advantage of the lower rates now. My mortgage is through SunTrust and (unfortunately) I have never been late with payments and am not in any financial distress. Is this possible without bringing any money to the table for closing?
If I want to get “no closing costs” mortgage, what do I need to show the lender / mortgage broker?
Nov 302011
I live in Texas. I will be closing on my $ 100k home on June 16, 2008. My mortgage lender quoted me that my monthly payments will be estimated at $ 1019 including escrow,insurance,taxes,and pmi. What I’m asking is that when the time comes at closing and I provide my insurance coverage certificate, will this [...]
The property I am purchasing is $ 72,700. The mortgage professional I spoke with estimated that the closing costs would be $ 8700. I think that sounds high so I just want to double-check with another professional. What would you guys say is a good estimate?
I am planning to purchase a 200,000-250,000 home in the state of Michigan, outright with no mortgage or any loan. Hypothetically, if I purchase a home for 200,000 what will be my total outlay of cash before the home is actually mine? Assuming I am not taking out any loan to finance this home. Also [...]
I’d like to know when it makes sense to refinance a 1st mortgage? What interest rate difference is worthwhile? And if you refi with same bank, can you negotiate the closing costs? Maybe say you will take your mortgage elsewhere?
I signed a sub-prime loan last year, right before the bubble burst. Long story short my name is not on the tax records and I found out I need to resign my mortgage note. It appears my closing attorney never filed and the previous owners are still listed with the tax office. I’m having trouble [...]
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