Tagged: Mortgage Loan

Jan 10

Is it possible to obtain a mortgage loan for a USA home from a foreign country?

DogJD asked:


I am wondering if it is possible to obtain a LOWER interest mortgage loan by obtaining if from a foreign country? Could you give me any web site references? Thanks!
Also have you ever heard of Sydney Financial Group?
I found this question from another one that was posted previous to this one, and I was just wondering if this could really happen.

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Dec 07

What does underwriting mean for the mortgage loan?

Bill T asked:


My mortgage loan has been approved, but I have to wait for an underwriting at this point. Can you explain what does it mean?

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Dec 07

Is it possible to get a loan directly from an mortgage underwriter instead of a loan officer?

mcoopd1 asked:


have spent 3-4 week trying to refinance my mortgage loan & each time the loan officer I’m working with promises me that he is the person that can get my loan done…but it really comes down to the underwriter decision. Why can I just work with an underwriter instead of a loan officer? It will say sooo much time!

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Dec 04

What should be the ratio of income to mortgage loan amount to make sure I am approved?

truthsense asked:


I am looking at buying a property for 180,000. This is my first home and I can put down only 5-10%. My salary is 55,000 per year and I have a small business online that generates 20,000 per year. The property is a 5 unit apartment complex with all units currently rented and producing 2380 in monthly income currently. The total costs involved in the property if I were to own it would be 2000 per month. Should I get approved for the loan?

I have good credit but I am not sure what the rule of thumb is for a mortgage loan amount and its ratio to my income. Anybody with home buying experience that can give me some insight?

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Dec 01

Does a mortgage loan have to be a minimum amount when purchasing a house?

school_daze_47 asked:


I’m looking for a house in the Ft Wayne IN area, probably in the less than $20,000 range. I am a first-time home buyer. Is it possible to get a mortgage for an amount this low, assuming the property is of course assessed for at least the amount of the loan? Why kind of down payment and closing costs should I expect to pay? Thanks for any help!

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Nov 21

What day of the month is interest applied to a mortgage loan?

**k** asked:


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

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