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What are some FHA mortgage requirements and how does credit affect the amount of loan you are able to get?
Wiki User
∙ 9y ago
Some FHA mortgage requirements are being employed and having a decent credit score. Your credit doesn't affect the amount you can be loaned as much as how much money you make.
Wiki User
∙ 9y ago
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How does a reverse mortgage affect the credit score?
eliminates the old mortgage, otherwise no effect
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
What effects the home mortgage refinancing rate?
Several factors affect the home mortgage refinancing rate. The amount of money the bank has to loan out is one such factor. Another factor is the borrower's credit rating.
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
What is the lowest amount that can be reported to credit bureaus?
$0. Credit bureaus do not have a minimum amount reporting requirements.
What are the requirements for one to get Ameriquest Mortgage?
Ameriquest Mortgage has been bought out by Citigroup. The requirements for a mortgage through Citigroup are household income, duration of mortgage, and credit score.
How does a reverse mortgage affect the credit score?
eliminates the old mortgage, otherwise no effect
What are some fha mortgage requirements?
There are no strict requirements for obtaining a mortgage. Banks decide whether to loan money on an individual basis, based on your income and credit.
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
What are mortgage websites used for?
Mortgage websites are used for calculating whether you qualify for a mortgage loan. They can determine if your credit history meets the requirements for approval.
What effects the home mortgage refinancing rate?
Several factors affect the home mortgage refinancing rate. The amount of money the bank has to loan out is one such factor. Another factor is the borrower's credit rating.
How does my credit affect the mortgage rate I can expect to get?
Your credit rating will affect whether or not you can actually get a mortgage. Those with bad ratings may not get a loan from a bank. A great site for checking mortgages is moneysupermarket.com
What is the lowest amount that can be reported to credit bureaus?
$0. Credit bureaus do not have a minimum amount reporting requirements.
Does paying off your mortgage early affect your credit score?
Yes, it would help your credit score.
What happens if the wife is on the mortgage and not on the note and the husband dies?
If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.If the wife signed the mortgage and not the note that means that if the mortgage isn't paid the lender can take possession of the property by foreclosure. It will not affect the wife's credit but by signing the mortgage she consented to the lien on the real estate.
How does having bad credit affect my mortgage payments?
If you have bad credit you will not only have a hard time getting a loan, but you will be charged a higher APR. As a result, your mortgage payment will be higher than if you had good credit. If you already have a home mortgage, having bad credit will not affect it. If you have bad credit and go to get a mortgage, you run a risk of being denied a loan until bad debts are taken care of and even then you may have a higher rate.
Can you get a reverse mortgage if you file bankruptcy?
Yes, a reverse mortgage does not have any credit requirements, however if you are in bankruptcy or filing one you may need court approval to do the reverse mortgage.
