Sentences with phrase «existing mortgage on their house»

Not exact matches

Almost all houses get approval but there is a chance that the house on which a mortgage already exists might not.

LTV on a property is calculated by dividing the total of existing mortgages by the market value of a house.

The new HOME homeownership value limits for existing HOME units is 95 percent of the median purchase price for the area based on Federal FHA single family mortgage program data for existing housing and other appropriate data that are available nation - wide for sale of existing housing in standard condition.

I own a house in Santa Barbara... I purchased a piece of property 12 miles south of Santa Barbara and will build a new house in about 2 years... In order to build the new house I will take out a mortgage on my existing house... Interest rates are pretty attractive now and it might make sense to take out a mortgage now...

It seems likely that the government would continue to play a significant role in working with lenders and communities in support of affordable housing and home loans, but the administration is suggesting changes that could make home loans less affordable for first time buyers with little cash and moderate income families currently depending on FHA for buying homes or refinancing existing mortgage loans.

By enabling homeowners or home buyers to finance the cost of adding energy - efficiency features to existing or new housing as part of their FHA - insured home refinancing or purchase mortgage, the Energy Efficient Mortgages Program (EEM) helps them to save money on utility bills.

Even if you were to do that, you'd still have almost $ 100k in untapped equity in the existing home, no mortgage on the retirement home, nothing out of pocket (other than refi fees), and probably no more of a mortgage payment than you already have on the house with equity.

Energy Efficient Mortgages FHA's Energy Efficient Mortgage program (EEM) helps home buyers or homeowners save money on utility bills by enabling them to finance the cost of adding energy efficiency features to new or existing housing as part of their FHA insured home purchase or refinancing mMortgage program (EEM) helps home buyers or homeowners save money on utility bills by enabling them to finance the cost of adding energy efficiency features to new or existing housing as part of their FHA insured home purchase or refinancing mortgagemortgage.

An existing house (or modular unit) on another site can be moved onto the mortgaged property.

Those families need an apartment or a house, and many can't afford to pay upfront for rental housing on top of their existing mortgages.

Many factors influence housing decisions, including income, housing prices, proximity to work, job relocations, mortgage rates, ability to sell an existing home, schools, and so on.

Bolstered by low mortgage rates and a swelling demand from equity - rich baby boomers, the housing markets have been out of balance for the past few years, with existing - home inventories alarmingly low — only 3.8 months» supply on a nationwide basis as of January — and price appreciation undesirably high.

Housing Affordability Index (HAI) The Housing Affordability Index (computed by Axiometrics) is a measure of whether a family in an MSA earning the median family income can qualify for a mortgage loan on a median - priced, existing single - family home.

It is anticipated that a continuing tight labour market, robust income growth and high levels of consumer confidence will help to offset the dampening effect of rising mortgage carrying costs on the demand for new and existing homes in B.C. Housing starts should decline from 39,195 units in 2007 to 33,250 in 2008 and 31,700 in 2009.

203 (b): FHA program which provides mortgage insurance to protect lenders from default; used to finance the purchase of new or existing one - to four family housing; characterized by low down payment, flexible qualifying guidelines, limited fees, and a limit on maximum loan amount.

This explosive growth is being driven by increases in home values and selling prices, tight inventories of houses for sale, and pay - downs of principal on existing mortgages.

It identifies 11 senior needs, ranging from «eliminate payment on existing mortgage» to «purchase a house,» and matches them with the relevant HECM option.

In a report released on Tuesday, Canada Mortgage and Housing Corp. predicts that existing home market conditions will remain balanced during the next two years as MLS sales ease and inventory levels remain elevated.

Ryan discusses the death of Osama Bin Laden; Ryan reviews the economic news of the week; Ryan notices the correlation between increased home sales and interest rate drops; Louis notes we can't expect the housing market to be supported by further decreases in rates as they are already near historic lows; Ryan explains that interest rates change once every four hours; Ryan notes the difference between getting a quote and being locked in to an interest rate; Ryan advises the importance of keeping in touch with your mortgage lender; Louis notes that interest rates change a lot faster than home prices; Ryan notes that the consumer confidence was up, Ryan and Louis discuss the Fed's decision to keep interest rates where they are and to continue the $ 600 billion QE2 program; Ryan and Louis discuss the Fed's view that inflation is nascent; Louis notes that not only does the Fed not see inflation that exists but disclaims any responsibility for it; Louis asserts that there is a correlation between oil prices and Fed policy; Louis discusses Ben Bernanke's assertion that the Fed can't control oil prices but that they somehow can control the impact of higher oil prices on the rest of the economy; Louis also remarks on Bernanke's view of the dollar - the claim that a strong dollar can be achieved through the Fed's current policy as it is their belief that they are creating a sound economy and therefore a sound dollar; Louis notes the irony of the Fed chastising Congress» spendthrift ways — if the Fed did not monetize the debt, Congress could» nt spend; Louis noted that as Bernanke spoke the prices of gold and silver rose as it seemed that the Fed has no interest in cutting off the easy money; the current Fed policy will keep interest rates low; Ryan notes that the Fed knows that they can't let interest rates rise because of the housing mess; Louis notes that the Fed has a Hobson's Choice - either keep rates low or let interest rates rise and cut off the recovery.

(A) is an existing first mortgage that was made for purchase of, or refinancing of another first mortgage on, a 1 - to 4 - family dwelling, including a condominium or a share in a cooperative ownership housing association;