0
It depends on your contract. You need to contact your lender.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Can two people take out a mortgage loan to buy a house?
yes.
Where can someone get a mortgage loan for people with bad credit?
One can get a mortgage loan for people with bad credit in two different places. The first place that one can get a mortgage loan for people with bad credit is a bank, like Wells Fargo. Another place that one can get a mortgage loan is a credit card company, like American Express.
How does a home equity loan work?
It's like a second mortgage on your home. They would evaluate the worth of your house minus the amount owed on the first mortgage and loan you a percentage of the difference. You would have to pay two mortgage payments.
What is the difference between refinancing and a second mortgage?
Refinancing is re-assessing the terms of your current mortgage. You are capable of refinancing any loan at any time whether it is a home, auto or personal loan. A second mortgage is a mortgage in addition to your primary note. If you obtain a second mortgage you will be liable to pay two monthly mortgage payments.
What information must one have to obtain a real estate loan?
"Here are the basic requirements to obtain a real estate loan: two year of employment (same employer preferably), income in last two years same or increased, minimal credit score of 620, no bankrupts within two years, three years for foreclosures, and mortgage payment is about 30% of your income before taxes."
On average, how long does it take to complete a refinance of an existing mortgage loan?
On average, it takes about one to two years to complete a refinance of an existing mortgage loan. Read more at www.mortgageloanplace.com/refinancing.html
Can two people take out a mortgage loan to buy a house?
yes.
Where can someone get a mortgage loan for people with bad credit?
One can get a mortgage loan for people with bad credit in two different places. The first place that one can get a mortgage loan for people with bad credit is a bank, like Wells Fargo. Another place that one can get a mortgage loan is a credit card company, like American Express.
How does a home equity loan work?
It's like a second mortgage on your home. They would evaluate the worth of your house minus the amount owed on the first mortgage and loan you a percentage of the difference. You would have to pay two mortgage payments.
What is the difference between refinancing and a second mortgage?
Refinancing is re-assessing the terms of your current mortgage. You are capable of refinancing any loan at any time whether it is a home, auto or personal loan. A second mortgage is a mortgage in addition to your primary note. If you obtain a second mortgage you will be liable to pay two monthly mortgage payments.
What requirements need to be considered for an FHA loan?
FHA.com has a section all about loan requirements (http://www.fha.com/fha_loan_requirements.cfm). The basic loan requirements are: Two years of employment, two years of income that is the same or increasing, good credit score, any bankruptcies must be at least 2 years old, any foreclosures must be at least 2 years old and the mortgage payment should be roughly 30% of your income.
Who can give you a mortgage loan pre approval?
Home Loans and RBC are two popular company's that can give you a mortgage loan pre approval. They offer a lot of advice and descriptions on this service on their official sites.
What information must one have to obtain a real estate loan?
"Here are the basic requirements to obtain a real estate loan: two year of employment (same employer preferably), income in last two years same or increased, minimal credit score of 620, no bankrupts within two years, three years for foreclosures, and mortgage payment is about 30% of your income before taxes."
Is a home equity line of credit or a mortgage a better way to obtain cash for remodeling on a second home with no current mortgage?
you should probably go with a home equity loan. If you shop around you can get it done with no closing cost. there are two kinds of equity loans. Home equity loan are adjustable rate and kind increase over the years and there are fixed seconds where your lock in for the life of the loan.
How much does paying two extra mortgage payments per year decrease your loan life?
5
Where can one find out about bankruptcy mortgage loans?
One can learn about their options for getting a mortgage loan after declaring bankruptcy by visiting the websites of businesses that offer mortgages. Generally, one cannot obtain any kind of mortgage for at least two years after declaring bankruptcy, but some companies may make an exception.
How long is the mortgage loan process?
From beginning to end mine took two weeks. But I'm sure it varies widely depending on the needs of the individual and the mortgage company
