0
In order to qualify for a mortgage loan, one needs an annual income - this is normally approximately five times the amount of money which they are seeking to borrow.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
How does one qualify for a mortgage refinance loan through the Bank of America?
To qualify for a mortgage refinance loan through the Bank of America you must have at least 5% equity in your home. You must also be current on your home loan payments.
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.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
What is a 2nd mortgage needed for?
A second mortgage is often needed at times when a family is running low on money. A second mortgage means a loan is taken on the home owner's house. This usually means that they will get a big loan and their home will be collateral.
What is a loan prequalification calculator?
A loan pre-qualification calculator is basically a program that calculates your ability to qualify for a mortgage or a loan. You can find a free one on Bankrate's site.
How does one qualify for a mortgage refinance loan through the Bank of America?
To qualify for a mortgage refinance loan through the Bank of America you must have at least 5% equity in your home. You must also be current on your home loan payments.
How is mortgage calculated?
A mortgage is calculate by multiplying the principle(or amount borrowed to purchase house), times the interest of the loan over the period of the loan. <a href="http://www.acalculator.com/fha-mortgage-loan-calculator.html">Mortgage Calculator</a> helps to find the maximum monthly payment and the maximum loan amount for which you may qualify, calculate your taxes/insurance and also to see if your income is sufficient to qualify.
What does mortgage mean in a sentence?
A mortgage is a loan secured by real property. Sentence: My sister was able to qualify for a mortgage and purchase her first home.
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.
Is it unlawful that a lender tells you that you only qualify for an ARM mortgage loan?
please refer the following link to get the information about ARM mortgage loan. center4debtmanagement.com/Financing/UnderstandingHomeMortgages.shtml
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 is needed to qualify for a loan?
A good credit score.
Should you pay off a default loan before or after you apply for a Mortgage?
You should pay off your default loan before because you may not qualify for a mortgage loan because you already owe money.
What is a 2nd mortgage needed for?
A second mortgage is often needed at times when a family is running low on money. A second mortgage means a loan is taken on the home owner's house. This usually means that they will get a big loan and their home will be collateral.
What is a loan prequalification calculator?
A loan pre-qualification calculator is basically a program that calculates your ability to qualify for a mortgage or a loan. You can find a free one on Bankrate's site.
What information is needed to refiance a loan with Riverside Mortgage?
There is a lot of documentation needed in order to refinance a home loan with riverside mortgage. You will need the details of your first mortgage, as well as proof of current income and liabilities. Then you will need to get an appraisal of your home.
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.
