Sentences with phrase «to qualify for a new mortgage»

If, for instance, a buyer can not qualify for the new mortgage, he is financially in no position to buy the house.

Larger loan amounts and buyers who aim to count rental income toward qualifying for a new mortgage are a couple common examples.

You'll probably have to provide more documentation to qualify for a new mortgage as well.

Mortgage rates are near historic lows, yet only the highest - quality purchasers qualify for new mortgages.

Some homeowners assume that because they have consistently paid their mortgage on time, they will automatically qualify for a new mortgage.

That's because anyone looking to buy a home will have to qualify for that new mortgage based on posted rates, not discounted rates.

We were able to use the projected rent from the unit we were occupying as income to qualify for our new mortgage too.

You should be able to qualify for a new mortgage since you have rented the house out for the last two years because you can use that rental income as personal income.

Larger loan amounts and buyers who aim to count rental income toward qualifying for a new mortgage are a couple common examples.

For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better discount, or you may want to stabilize your payments by changing from a variable rate mortgage to a fixed - rate.

For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better discount, or you may want to stabilize your payments by changing from a variable rate mortgage to a fixed - rate.

If Bill has some credit issues or other reasons why he wouldn't be able to qualify for a new mortgage loan right now, he can still buy a house now and have a couple of years to get his credit issues straightened out.

When the borrower owns mortgaged real estate, the status of the property determines how the existing property's PITIA (your all - in monthly principal, interest, taxes, insurance and homeowner's association payment) must be considered in qualifying for the new mortgage transaction.

His research shows that 20 - 30 million current homeowners (half the market) either can not sell and net enough for a downpayment on another house or could not qualify for a new mortgage if they did have a downpayment.

You have to be able to qualify for a new mortgage under FHA's current underwriting standards.

Alternately, you if you have paid down your mortgage to 75 % of the original purchase price you also qualify to count rental income when qualifying for your new mortgage.

Thankfully, though John's scores were borderline, he was still able to at least qualify for a new mortgage.

FHA loans make qualifying for your new mortgage easier.

For example, you may have been working at improving your credit score and now qualify for a new mortgage with a better discount, or you may want to stabilize your payments by changing from a variable rate mortgage to a fixed - rate.

A departing spouse who is a co-borrower, as most are, will continue to be legally responsible for the debt, and as a result may be unable to qualify for a new mortgage loan on his or her own.

This can impact your interest rates on future loans, and your ability to qualify for a new mortgage.

Filing bankruptcy may seem to be a viable option in order to get rid of these debts, but you should know it may become difficult to qualify for a new mortgage.

A reverse mortgage can be refinanced into a new reverse mortgage or into a traditional mortgage, provided you qualify for the new mortgage.

You can qualify for a new mortgage or car loan a lot sooner than you think after filing for bankruptcy.

In most of the cases, you need to wait for at least 2 years after the bankruptcy discharge to qualify for a new mortgage.

Some home owners have so much consumer debt they are unable to refinance their home to consolidate the mortgage and the credit card debt because the amount exceeds the maximum loan to value allowable (currently 80 % of the value of the home) and if house prices stabilize or drop in some areas — this makes it more difficult for home owners to qualify for that new mortgage and lower payments.

Indeed, you can have no equity and qualify for a new mortgage, and there's never any mortgage insurance required with a VA loan.

You will only be affected if you're looking to break your current fixed - rate mortgage with a big bank or credit union as the penalty calculation has just been changed or if you are looking to qualify for a new mortgage.

Once the term is completed, the buyer will need to qualify for a new mortgage.

If you've had a bankruptcy or foreclosure in the past, it may affect your ability to qualify for a new mortgage.

b) Decimate your mortgage so that you can qualify for a new mortgage (on a new house) at 3 percent.

It's gotten easier for many to qualify for a new mortgage.

With this liability it could be difficult to qualify for a new mortgage.

Assumptions are easier than qualifying for a new mortgage and closing costs are lower.

Heirs aren't personally responsible for the debt, but the house will have to be sold to repay the reverse mortgage unless there are other ready funds, retirement savings or life insurance, or the adult child can qualify for a new mortgage.

(MCT)-- Homeowners who were laid off and lost their homes to foreclosure could qualify for a new mortgage in as little as a year under an unprecedented federal rule change that slashes the usual waiting period between financial disaster and buying a new house.