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The requirements to get a mortgage on a house are generally these. At least one of the potential mortgagees should be in full time employment or some other regular, reliable means of income. They should have a deposit saved which will cover a percentage of the value of the house -the percentage depends on how much the mortgage lender requires, and they should be credit worthy. To ascertain this it may be worth while asking for a credit report from one of the credit companies.
What else can I help you with?
Do you have to pay a mortgage on a house you own?
No, if you own a house outright with no mortgage, you do not have to pay a mortgage on it.
Can anyone get a mortgage?
Yes anyone can get a mortgage provided he or she meet the requirements of the lending organization. Check the detailed requirements and checklist for mortgage processing here : yosna.com
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.
Can you demolish a house that still has a mortgage on it?
Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.
What are the requirements to refinance a house?
Each lender will have specific requirements for refinancing, but most will expect that your income be significantly higher than your mortgage, that you will be able to pay closing costs after the refinance, and that your house is worth more than you are asking to borrow in the refinanced loan.
Do you have to get insurance if you pay cash for a house?
No. If there are no mortgage requirements that you carry insurance then it is completely up to the home owner.
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.
Do you have to pay a mortgage on a house you own?
No, if you own a house outright with no mortgage, you do not have to pay a mortgage on it.
Can you gift a house when the mortgage is paid off?
Providing that all other requirements of law have been met, once the mortgage has been paid off and the clear title has been registered, you may give a house as a gift to whomever you want.
Can anyone get a mortgage?
Yes anyone can get a mortgage provided he or she meet the requirements of the lending organization. Check the detailed requirements and checklist for mortgage processing here : yosna.com
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.
Can you demolish a house that still has a mortgage on it?
Yes, a house with a mortgage can be demolished, but the mortgage would still need to be paid off even if the house is destroyed.
What are the requirements to refinance a house?
Each lender will have specific requirements for refinancing, but most will expect that your income be significantly higher than your mortgage, that you will be able to pay closing costs after the refinance, and that your house is worth more than you are asking to borrow in the refinanced loan.
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 is the difference between a construction mortgage loan and a normal mortgage loan?
A normal mortgage is borrowing money to buy a house. A construction mortgage is when you own a house and borrow money against the house for repairs or renovations.
Is my house considered an asset even if I have a mortgage on it?
Yes, your house is considered an asset even if you have a mortgage on it. The value of the house minus the amount owed on the mortgage is the equity you have in the property, which is an asset.
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.
