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I believe your question is: Can you get a loan if you already own a home? The answer to your question is YES! You can still obtain a home loan even if you currently own a house. The key is that you will still have to qualify for the loan. That means that you have to show proof of income for the past to years, you have to have good credit history, savings, and 2 years of tax returns. Chances are that you will have to put 10-20% down on your second property, this is because banks believe that by lending you money on a second home/property they are assuming a bigger risk, so they make you invest a higher percentage upfront. I hope this answer helps.
If you have more questions please call me at:
Shira Crawford
Realty World
Monterey, California
(949)232-3232
Wiki User
∙ 14y ago
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Can a husband let the wife take over the loan of a house without her having rights to own the house?
If the loan by the Bank than it will be on your name. Do not pay loan if someone else as name to the loan.
Can you get a business loan if you work part time and have bad credit and do not own or rent a house?
I don't think so.
Do you own the house if your name is on the deed but not the loan?
Well i don't know much about loans but i can say that the one who pays the EMI's of the complete loan of the house naturally the house will belong to him.Let us take an example of joint loan:Suppose a joint loan is taken by a mother and a son but the mother is unable to pay it's one of the EMI so his son pays the all the loan then it is quite natural that the house will belong to son only.
Can a home equity loan on one house be transferred to a new loan for a new house?
No
Where can one find a house loan calculator?
House loan calculators can generally be found on the websites of the companies that you want to get a house loan from, for example Bank of America or Chase.
Can you get money from a bank if you own a house?
you can probably get a loan
Can a husband let the wife take over the loan of a house without her having rights to own the house?
If the loan by the Bank than it will be on your name. Do not pay loan if someone else as name to the loan.
Can I take out a loan of say 10000 if I own a house with equity but have no job?
yes as long as the loan amounts already on the house do mot exceed the houses value
What is the difference between a construction mortgage loan and a normal mortgage loan?
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
If your ex was court-directed to pay off your home-equity loan in the divorce can you sell the house without using your own equity to pay off the loan if he cannot refinance or pay in a lump sum?
Since the house was used as collatoral for the loan you would have to use your equity in the house to pay off the loan.
Can you get a business loan if you work part time and have bad credit and do not own or rent a house?
I don't think so.
Do you own the house if your name is on the deed but not the loan?
Well i don't know much about loans but i can say that the one who pays the EMI's of the complete loan of the house naturally the house will belong to him.Let us take an example of joint loan:Suppose a joint loan is taken by a mother and a son but the mother is unable to pay it's one of the EMI so his son pays the all the loan then it is quite natural that the house will belong to son only.
Can a home equity loan on one house be transferred to a new loan for a new house?
No
How do you do a bridge loan when there is no mortgage on one house?
How do you do bridge loan when there is no mortage on one house?
When you build your own house do you have to pay money to live in it?
no magic faries come and loan you the 1million pound living fee
Your ex-husband and you jointly own a home which he lives in He can't refinance and I don't want to be held responsible for the loan if he defaults How can you get your name off the loan?
3 words: Sell the house.
Where can one find a house loan calculator?
House loan calculators can generally be found on the websites of the companies that you want to get a house loan from, for example Bank of America or Chase.
