green asked:


use to be know as ‘no doc loans’
–looking for a home mortgage loan
–I know that these types of loans require a higher down payment, (like more than 20%) and come with higher interest rates,
–I’m self employed and would like to know if I can qualify for a mortgage without waiting 2 yrs for tax returns

Nathan

PsychoSam asked:


This question is for all those folks that don’t know too much about mortgage loans. Is it true that the best time to pay extra on mortgage loans are at the beginning years of a mortgage loan? That way an individual can beat the bank on the interest. Please give me your thoughts on this. Thank you.

Bertha

Paige B asked:


I am interviewing for a F&I position right now with an car dealership. I don’t have much if any experience with car sub-prime lenders and lending. However, I have been in the mortgage industry and have worked as both a loan officer, analyzing credit and assets of individuals and shopping sub prime lenders to find the best deal and also worked for a lender and qualified sub prime borrowers to fund their loans.

Phillip

**k** asked:


Is there a certain day that banks add interest to mortgage loans? I am currently have a mortgage loan with Chase Bank.

Dorothy

danielrockwell asked:

I am closing on my new house (construction to permanent loan) which is a 30 yr fixed at 5.75% interest. I had to have a $20,000 allowance in case something unexpected came up during the construction. It doesnt look like i’ll have to use that money, so I can either get the money back cash or take it off my mortgage. I have an ATV loan with a payoff of $6000 @ 7.75% and my student loan at $7200 @5.50%. I was thinking of paying off those 2 loans with the allowance. Does this make good financial sense? I owe 3 yrs on the ATV and god knows how long on student loans about 7 or 8 yrs i think. ATV loan is $165/mo and the other is $78/mo.
house is $167000 @5.75% plus whatever i take of that allowance. I cant figure out which is the best move?

Arlene

boobiecat asked:

The first loan is a decent interest rate, but the second is high. Can I refinance just the one to get a lower rate?

Brittany

Kendra asked:

My husband and I have two car loans one at 4,800 at 4.9% the other at 14,400 at 6.15% and a credit card at 10,700 at 7.9% but we also have a mortgage. What I’m planning on doing is having my husband sign up for another credit card because the current offer is no interest till 2008 (including balance transfers, there is a fee but the max fee is about how much we pay for the finance charge in one month. What I don’t know is if I should put our tax refund toward bringing down the lower car loan so the 230 we put toward that every month can go to something else sooner or if I should put some toward the car and some toward the mortgage each month. We don’t know if it’s better to pay the min on the mortgage and put more toward the other loans or put a little toward the mortgage and one of the other loans. And yes while doing all this I do put a little towards savings each paycheck. Forgive me for rambling but I wanted to be as detailed as possible. Thanks!
I’m not cancelling the current card the one I would be transferring to has an apr of 9.9%. So I would transfer what’s left after the 15 months back to the old card.

Thelma

HoustonJustin asked:

My wife and I owe over $150,000 in student debt with interest rates around 9-11% on each loan. Is it better to just refinance our house and pay it all off, for a lower monthly payment and interest rate?

Ana

Praveen Pradeep asked:


My parents are considering refinancing. Should they do it now or wait a few months?

Caffeinated Content

Just Me asked:


I want to build a small house in a rural area but I am single and don’t make a lot of money. Are there any special lower-interest loans available that I might qualify for?

(If students can get scholorships for school I was thinking there might be special programs out there to help people to buy/build homes. This would not be my first home so I guess I wouldn’t qualify for Fannie Mae)

This is really mportant to me so please let me know if you have any information on mortgage/construction loans that might help me. Thank you!

Caffeinated Content for WordPress