0
Can you get your ex-husband's name off of your mortgage loan without having to refinance?
The lending institution wants to know who will be responsible for paying the loan. If your husband was the person with the most income, the loan may have been granted based on his income and stability. The lending institution will want to re-evaluate the loan before re-writing it. They may want to have you in a higher risk category when writing the loan, or they may refuse to write it at all. You may be required to go to a different lender if the current lender does not feel that they are comfortable with the risk level.
What else can I help you with?
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
What is the best way to refinance a home loan rate?
The best way to refinance a home loan rate is to obtain another loan without having a mortgage. In this way in the event of inability of payment, the customer will be insured and not lose own home.
How can I refinance my mortgage to fund home improvement projects?
To refinance your mortgage for home improvement projects, you can apply for a cash-out refinance. This allows you to borrow more than your current mortgage balance and use the extra funds for renovations. Keep in mind that you'll need to meet certain requirements, such as having enough equity in your home and a good credit score. It's important to carefully consider the costs and benefits before proceeding with a cash-out refinance.
Is it possible to have my PMI removed without having to refinance my mortgage?
Yes, it is possible to have your Private Mortgage Insurance (PMI) removed without refinancing your mortgage. This can typically be done by reaching a certain threshold of equity in your home, usually around 20. You may need to request a PMI cancellation from your lender and provide documentation to prove that you have met the equity requirement.
What are the qualifications for getting a mortgage on a house?
Good credit and some money to put down is really helpful. Think about having 20% of the price of the house on hand to put down. If you don't, then you will probably have a 1st and 2nd mortgage right off the bat (you can refinance later into one big mortgage).
What are the requirements for a no fee remortgage?
The requirements for a no-fee refinance mortgage are being in good standing with your current mortgage, having sufficient income, and having a good debt-to-income ratio. The requirements for a no-fee refinance mortgage are essentially the same as for any other type of mortgage.
How can I terminate my ex-partner's obligation on a mortgage loan without removing him from the mortgage loan as I won't be approved for a refinance if I have sole responsibility for the loan?
No you can not. The best you can do is take him off the deed by having him sign a quick claim deed. You will need to qualify for a refinance to get him off the loan.
What is the best way to refinance a home loan rate?
The best way to refinance a home loan rate is to obtain another loan without having a mortgage. In this way in the event of inability of payment, the customer will be insured and not lose own home.
If you are going through a divorce can one spouse sign over their half of the mortgage to the other party without having to refinance?
It is my understanding that if both are on the mortgage, you must refinance so that you are both not held liable for the balance. If still on the note the other person would not be able to qualify for another house, car, etc. without that being considered as part of their debt.
How can I refinance my mortgage to fund home improvement projects?
To refinance your mortgage for home improvement projects, you can apply for a cash-out refinance. This allows you to borrow more than your current mortgage balance and use the extra funds for renovations. Keep in mind that you'll need to meet certain requirements, such as having enough equity in your home and a good credit score. It's important to carefully consider the costs and benefits before proceeding with a cash-out refinance.
Is it possible to have my PMI removed without having to refinance my mortgage?
Yes, it is possible to have your Private Mortgage Insurance (PMI) removed without refinancing your mortgage. This can typically be done by reaching a certain threshold of equity in your home, usually around 20. You may need to request a PMI cancellation from your lender and provide documentation to prove that you have met the equity requirement.
What are the qualifications for getting a mortgage on a house?
Good credit and some money to put down is really helpful. Think about having 20% of the price of the house on hand to put down. If you don't, then you will probably have a 1st and 2nd mortgage right off the bat (you can refinance later into one big mortgage).
Change to va mortgage from conventional mortgage?
In order to move from a conventional mortgage to a VA mortgage you would have to refinance. In most cases when changing from one program to another, changing loan term, etc, a refinance is necessary, though you can often refinance with very few out of pocket expenses.Of course to obtain a VA loan you will need to meet the requirements such as a being an eligible veteran or active duty member of the US military, having a certain credit score, and being able to qualify based on your current income and the amount of your other debts.You can learn more about this program here: http://afrmortgage.com/va-loans.phpBest of luck!
What should I know before having my mortgage refinanced?
You should know the value of your house. You will have to pay for a assesment of it's worth and if you do not have equity then the refinance will rarely go through but you still need to pay.
How can one apply for a remortgage loan with bad credit?
To refinance a mortgage without a good credit score you will need a FHA refinance. These loans cater to those with poor credit scores and has more relaxed rules and requirements. These type of loans are what the housing market was affected by. With most applicants having poor credit many of these FHA loans go into default because of the relaxed rules and requirements.
What are the benefits of using a 2nd mortgage calculator?
A second mortgage is when, already having a mortgage, you take out a second loan/mortgage secured on the property. This is possible if you have positive equity. A second mortgage calculator will give some indication about how much might be able to be borrowed without having to actually approach a money lender and give them your personal details.
How can I switch mortgage companies without having to go through the process of refinancing?
To switch mortgage companies without refinancing, you can request a mortgage transfer or assumption. This process involves the new lender taking over your existing mortgage terms without the need for a new loan. Be sure to check with both lenders for any fees or requirements involved in the transfer.
