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I've seen some 18 year olds qualify. However. Make sure that you do not become overextended and can afford the house you are purchasing. If you are buying your parent's home, that may not be easy because of conflict of interest between buyer and seller. Hopefully, you have some credit in your name only, savings to cover a great downpayment (10-20%) and the house appraises at fair market value. Your job should pay at least $1,000 a month, and the rule of thumb regarding your ability to pay is that loan payment/taxes/insurance should not be more than half of your take home.
What else can I help you with?
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
Did gmac mortgage take over wmc mortgage?
GMAC mortgage is no longer in business
Do you have a mortgage from AARP Reverse Mortgage?
No I do not have a mortgage from AARP Reverse Mortgage because I am not 100 years old. That is for old people who need money and do not need their house any longer because they will be dieing soon.
How old do you have to be to get a mortgage?
18 or older.
What is a commercial mortgage?
A commercial mortgage is not the same as a residential mortgage. A commercial mortgage applies to commercial buildings or businesses. Businesspeople take out commercial mortgages.
Who is responsible for my deceased 51-year old son's mortgage on his home?
The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.The estate is responsible for the mortgage. However, if the mortgage isn't paid the bank will take possession of the property by foreclosure.
Why might a homeowner take out a second mortgage?
A homeowner take out a second mortgage if they are struggling to pay off their first mortgage. You can read more at www.bostonapartments.com/mortgage/second-mortgage/second-mortgage.html -
Did gmac mortgage take over wmc mortgage?
GMAC mortgage is no longer in business
Do you have a mortgage from AARP Reverse Mortgage?
No I do not have a mortgage from AARP Reverse Mortgage because I am not 100 years old. That is for old people who need money and do not need their house any longer because they will be dieing soon.
Do mortgage refinance calculators take points into consideration?
Yes they do. The good mortgage calculators take everything that may effect you mortgage into account. You have nothing to worry about.
What if the subordinate mortgage is recorded prior to the first lien?
The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.The subordinated mortgage is usually recorded prior to the mortgage that is to take first place. That is the reason for the subordination.Suppose you granted a mortgage to Fleet Bank in 2001. That mortgage is not yet paid off and you applied for a new mortgage to Wells Fargo. The Wells Fargo mortgage is approved but Wells Fargo will require that the Fleet mortgage be subordinated because it was recorded first and will take precedence in the event of a foreclosure unless it is subordinated and Wells Fargo is allowed to take first place.
How old do you have to be to get a mortgage?
18 or older.
What is a commercial mortgage?
A commercial mortgage is not the same as a residential mortgage. A commercial mortgage applies to commercial buildings or businesses. Businesspeople take out commercial mortgages.
How does a reverse mortgage affect the credit score?
eliminates the old mortgage, otherwise no effect
How do you mortgage subordinate?
You can't subordinate a mortgage. One bank, the senior lender, sometimes subordinates their mortgage to a bank who is giving the homeowner a new mortgage. The subordination gives the new mortgage first place and the old mortgage becomes the second mortgage.
What form needs filed to put a mortgage lien on a property?
Generally a mortgage should be executed however mortgages take different forms in different jurisdictions. You should consult with an attorney in your jurisdiction. You would want the mortgage properly drafted so that you can take possession of the property if there is a default in the mortgage payments.Generally a mortgage should be executed however mortgages take different forms in different jurisdictions. You should consult with an attorney in your jurisdiction. You would want the mortgage properly drafted so that you can take possession of the property if there is a default in the mortgage payments.Generally a mortgage should be executed however mortgages take different forms in different jurisdictions. You should consult with an attorney in your jurisdiction. You would want the mortgage properly drafted so that you can take possession of the property if there is a default in the mortgage payments.Generally a mortgage should be executed however mortgages take different forms in different jurisdictions. You should consult with an attorney in your jurisdiction. You would want the mortgage properly drafted so that you can take possession of the property if there is a default in the mortgage payments.
Can you take your partners name of a joint mortgage if they are not paying their half of the mortgage as per agreement?
no
