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If they have enough equity in the property and have enough income to take on more debt.
If they have enough equity in the property and have enough income to take on more debt.
If they have enough equity in the property and have enough income to take on more debt.
If they have enough equity in the property and have enough income to take on more debt.
Wiki User
∙ 13y ago
Wiki User
∙ 13y agoIf they have enough equity in the property and have enough income to take on more debt.
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What does one need to qualify for a mortgage in Ontario Canada?
The conditions that are needed to qualify for a mortgage in Ontario, Canada can vary from person to person. These depend mainly on one's income and expenses.
Is there mortgage relief for rental properties?
Unfortunately, mortgages for second houses and rentals do not qualify for mortgage relief.
Can a single person qualify for a reverse mortgage?
Yes. Marital status does not matter.
Can you qualify for a mortgage with a fico score of 567?
It is hard to qualify for a mortgage with a Fico score of 567. Most lenders, including FHA, require individuals to have a minimum Fico score of 580 to qualify for a mortgage.
Is is possible to qualify for a mortgage with bad credit?
There are many different programs to help you get a mortgage even if you have bad credit. You are likey to pay a higher rate for your mortgage but there are mortgage brokers who can help you to qualify.
What does one need to qualify for a mortgage in Ontario Canada?
The conditions that are needed to qualify for a mortgage in Ontario, Canada can vary from person to person. These depend mainly on one's income and expenses.
Is there mortgage relief for rental properties?
Unfortunately, mortgages for second houses and rentals do not qualify for mortgage relief.
Why would a person need a second mortgage?
A person would need a second mortgage because it is a way to avoid mortgage insurance. They might also need a second mortgage if they need a lump sum of cash.
Can a single person qualify for a reverse mortgage?
Yes. Marital status does not matter.
Can you qualify for a mortgage with a fico score of 567?
It is hard to qualify for a mortgage with a Fico score of 567. Most lenders, including FHA, require individuals to have a minimum Fico score of 580 to qualify for a mortgage.
Is is possible to qualify for a mortgage with bad credit?
There are many different programs to help you get a mortgage even if you have bad credit. You are likey to pay a higher rate for your mortgage but there are mortgage brokers who can help you to qualify.
If two people are on the deed but only one is on the mortgage can the second person do anything to prevent foreclosure?
no,because that persons name is not on the deed .. unless the second person gives money to the person paying the mortgage
Can you add someone to morgagefrom the start?
The mortgage refers to the financing of the deed to a real property. A person cannot be on the mortgage unless they qualify for the financing. They can be on the title though and have no financial connection.
What is the difference between a first lien and second lien mortgage underwriting process?
A second lien mortgage occurs when a lender is willing to impose a lien on an asset that already carries a lien with another creditor. An example of a second lien mortgage is a second mortgage being taking out for property. If a person does not make payments to either lender, the first mortgage is settled before the second mortgage can be settled,
Can you get a second mortgage with only one signer?
You need to go and see a mortgage broker. However if there is already a mortgage on the house with two signatories, it is unlikely that you will be able to get a second mortgage without the agreement of the second signatory as it will affect their primary mortgage. It will also depend on the property deed. If the land is titled to a single person, that person can obtain a mortgage. Note that a spouse is considered to be on the title even if it isn't printed there in most jurisdictions.
What would one need to qualify for a business mortgage?
To qualify for a business mortgage, or a commercial mortgage loan, you would first need to qualify in terms of credit. You would also need to be able to fulfill terms of repayment through proof of income.
What are the advantages and disadvantages of 100 percent financing however having a first mortgage and subfinancing in order to get 100 financing?
The advantage to having a first and second mortgage equalling 100% financing is that you would not have to pay PMI, which would be required on a first mortgage at 100%. The second mortgage is subordinate financing, meaning it is in the second lien position on the house, and therefore does not affect the first mortgage lender's ability to persue the subject property in the event of a default on the loan. The thing to consider is that when you do this on a purchase, your first AND second mortgage lender will qualify you at the cumulative mortgage payment.
