Sentences with phrase «mortgage is out of the question»

Without a good credit score, a bank mortgage is out of the question and you will need alternative funding.

Also, financing a home purchase in the Cayman Islands is difficult if the buyer doesn't live there, so getting a traditional mortgage was out of the question, he says.

Not exact matches

The big question now is whether the borrowers turned away by traditional lenders because of the stricter rules will just abandon or delay their home - buying dreams, or seek out more expensive loans issued by the private lenders that are neither regulated nor required to carry mortgage insurance.

At the same time, it is not out of the question that we may be quietly allowing U.S. banks to go insolvent without disclosure, covering the losses over time out of wide interest spreads on existing loans, and that we may be able to avoid outward evidence of mortgage deterioration simply by allowing the Treasury to go further and further into deficit on behalf of the GSEs.

Typically, if you fill out a mortgage application online or request a rate quote, one of the questions will be «cash out?»

Not only do we try and answer every single question but we will also include out thoughts on things like mortgage rates, the direction of the real estate market in Canada and any other variables that you may not be thinking of and that you'll want to investigate further.

Because of this, a question that potential borrowers sometimes ask is, «Can I get out of a reverse mortgage?»

We will assist you from start until finish, and if you have any questions throughout the term of the Scarborough mortgage brokers will be there to help you out.

Minneapolis St Paul, MN: When taking out the largest loan most people will ever have in their life, a home loan, your Mortgage Loan Officer is going to ask a lot of questions, and request a lot of supporting documents, like pay stubs, W2's, tax returns, and your recent bank statements.

Widely quoted in the media, Ms. Petramala pointed out that ultimately the ability of borrowers to service their mortgage payments is what is in question.

When asked about the surplus of inventory, and how it may affect market conditions, Total Mortgage president John Walsh recently surmised, «This is a difficult question to answer, because nobody really knows the extent of the potential shadow inventory out there or how many houses are in danger of foreclosure.

For the purposes of this question, I've got no plans or desire to move - obviously, anything could happen but there's nothing on the horizon that I can see that would make me want to move out before paying off the mortgage.

So the question is this: If you owe $ 500,000 on a home that is only worth $ 150,000, is it OK to toss your keys back to the bank and move into a cheaper rental, instead of diligently paying down a mortgage that is completely out of whack with the value of the house?

You'd want to use a reverse mortgage only if you feel that selling your home is out of the question, AND if you've exhausted all sources of income that do not involve heavy costs such as loss of tax deferral or a big tax bill.

I did find this link Significant personal loan to pay off mortgage but in that question, the personal loan seems to be from a bank with a possibly higher interest rate and seeks ways to get out of what seems to be a difficult situation.

Mortgage rates today are sitting near historic lows and while it's unlikely they will return to the high teens of the 1980s, a move higher five years from now is not out of the question.

Along with answering questions regarding term life insurance, your agent can provide you with a free of charge financial needs analysis to obtain out of debt, pay off your mortgage faster, and save for retirement — many agents are licensed to market mutual funds and certainly will allow you to start a Roth IRA, a 403 (b), a 529 College Savings Plan or a self - employed retirement plan.

If the property in question is a larger parcel — say 40 to 60 acres, Humongous Bank sets an arbitrary rule that it will only consider granting a mortgage on the value of the house plus five acres with nothing allowed for the other improvements (out - buildings) and the additional acres.

This history came back, triggered when I was recently explaining my «narrow» career to someone in the mortgage field, who had trouble believing I never got involved in explaining mortgaging, personally giving advice outside my area of expertise, as many colleagues who get involved in that arena do, prequalifying buyers; never had them fill out an income statement (I didn't want to know how much money my clients earned, many even self - employed), even when they were my sellers, about to buy, but I always had written prequalification commitments in my hands to provide if and when needed, (that's all I needed to know, and have in writing), and I knew therefore who was in fact providing the funding; they did all the questions asking, not me.

Because most of us always are utilizing a mortgage we put closing costs and repairs (as in your response to my question) in the CASH INVESTED OUT - OF POCKET side, but as Giovanni states they should really be added to the purchase price as well to give you a more accurate view of the CAP RATof us always are utilizing a mortgage we put closing costs and repairs (as in your response to my question) in the CASH INVESTED OUT - OF POCKET side, but as Giovanni states they should really be added to the purchase price as well to give you a more accurate view of the CAP RATOF POCKET side, but as Giovanni states they should really be added to the purchase price as well to give you a more accurate view of the CAP RATof the CAP RATE.

Here's how I would ask the question: «If you want to buy a primary residence in another state prior to moving there, can you qualify for the mortgage using your out - of - state income?»

(MCT)-- QUESTION: I am refinancing my mortgage and was told there were no out - of - pocket costs.