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Those chances depend on your personal circumstances such as:
- employment history
- income
- length of employment at present employer
- other debts
- credit record
- cost of the property
- condition of the property
- ability to pay a down payment
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Can you get a mortgage when you have a loan?
As long as you can keep your qualifying ratios under certain thresholds (they vary by loan type and program) you can get another mortgage while you have an existing mortgage. If your qualifying ratios are to high- then you will need to sell or refinance your existing mortgage to get your qualifying ratios within guidelines. Should you have any other questions- feel free to contact Joy Bates, NMLS # 243437 or for California or Texas Home Mortgage Loans go to www.legacyfinancial.com
If your fiance has already been approved but you are not working right now can he put your name on the mortgage?
In order for your name to be on the mortgage, you would have to be a co-borrower, in which case your income, credit and liability information would have to be considered in qualifying the mortgage.
Where can one find the lowest rates for a mortgage?
Finding the lowest rates for a mortgage can be time consuming. Several mortgage companies can be contacted to compare rates. Mortgage houses sometimes have this information readily available. Government programs also offer some lower rates to qualifying buyers.
What companies offer self employed mortgage loans?
There are a wide variety of companies that offer self-employed mortgage loans, although the qualifying process can be difficult. Examples of companies that do provide this service are Lending Tree and Quicken Loans.
Is permanent disability income counted when qualifying for a real estate loan?
It can be. It will depend on the judgment a lender makes about the affordability of the mortgage and the borrower's ability to make the payments.
Can a va mortgage be assumed?
Yes by a qualifying Veteran.
Can you get a mortgage when you have a loan?
As long as you can keep your qualifying ratios under certain thresholds (they vary by loan type and program) you can get another mortgage while you have an existing mortgage. If your qualifying ratios are to high- then you will need to sell or refinance your existing mortgage to get your qualifying ratios within guidelines. Should you have any other questions- feel free to contact Joy Bates, NMLS # 243437 or for California or Texas Home Mortgage Loans go to www.legacyfinancial.com
If your fiance has already been approved but you are not working right now can he put your name on the mortgage?
In order for your name to be on the mortgage, you would have to be a co-borrower, in which case your income, credit and liability information would have to be considered in qualifying the mortgage.
Where can one find the lowest rates for a mortgage?
Finding the lowest rates for a mortgage can be time consuming. Several mortgage companies can be contacted to compare rates. Mortgage houses sometimes have this information readily available. Government programs also offer some lower rates to qualifying buyers.
What are the qualifying requirements for the HARP mortgage program?
There are some income and financial requirements that you must meet in order to qualify for the HARP program. These requirements include that the mortgage must be owned or guaranteed by Fannie Mae or Freddie Mac and the borrower must be current on the mortgage.
What companies offer self employed mortgage loans?
There are a wide variety of companies that offer self-employed mortgage loans, although the qualifying process can be difficult. Examples of companies that do provide this service are Lending Tree and Quicken Loans.
Is permanent disability income counted when qualifying for a real estate loan?
It can be. It will depend on the judgment a lender makes about the affordability of the mortgage and the borrower's ability to make the payments.
If you apply for a mortgage and get turned down will it effect your chances if you apply again with a co-borrower?
Most likely not. As long as credit scores are okay, the co-borrower is assumed to be brought in to assist the primary borrower in qualifying and will not hurt your chances of getting another loan. If you already applied for a mortgage and you were turned down it would be a good idea to try with a co borrower as this could increase your chances of getting approved. Now there are various factors as why a loan is turned down such as credit, debt to income ratio, etc so it would be best to figure out why the application was turned down and if adding a co-borrower would resolve the issue. Veronica Rodrigues Voyage Home Loans
Qualifying versus Non-qualifying RRIFs?
Qualifying versus Non-qualifying RRIFs
How can a person with bad credit increase their chance of qualifying for mortgage loans?
There are a couple steps to take in order to qualify for a mortgage with bad credit, such as check your credit report, demonstrate a steady income, eliminate all other debt and to also look for a co-signer.
What is a dependence?
A qualifying child or qualifying relative.
If a couple with excellent credit and no debt wants to sell their condo and buy a house is it possible to get a mortgage right now if one person started freelancing just over a year ago?
The only person who can answer your question is your mortgage lender. If you are debt free, and if the equity in your condominium will give you enough cash for a qualifying down payment, and the house you want to buy requires a mortgage that you can afford, you may be able to obtain a mortgage.
