Sentences with phrase «traditional mortgage on your house»

If you have a traditional mortgage on your house you need to get enough from the reverse mortgage to pay it off.

Not exact matches

I am either looking to take out a traditional mortgage or a home equity loan on a house that I own with my parents (which has been mostly paid off now).

Total Debt Ratio: In traditional mortgage underwriting, the total debt ratio is used to calculate how large the monthly payments on housing expenses and other debts (like student and car loans, credit card debt, etc.) should be, based on gross monthly income.

Housing Expense Ratio: In traditional mortgage underwriting, the housing expense ratio is used as a guideline to calculate how large the monthly housing expense payments should be, based on gross month Housing Expense Ratio: In traditional mortgage underwriting, the housing expense ratio is used as a guideline to calculate how large the monthly housing expense payments should be, based on gross month housing expense ratio is used as a guideline to calculate how large the monthly housing expense payments should be, based on gross month housing expense payments should be, based on gross month income.

Taking on a new traditional mortgage means moving out of your old beloved house and into a new one, and not only is moving exhausting, and the timing of buying and selling a home may be lengthy.

I wanted to buy a house but lacked some of the things that would have gotten me a traditional mortgage, i.e. two years on the job, 20 % down, and a debt - to - income ratio under 38 %.

The current CFPB definition of a loan originator is based on traditional mortgage market roles that do not equate with the business model of the manufactured housing industry, including lending and retail sales practices.

Focus on mortgage products that are at the foundation of our housing market — long - term fixed - rate mortgages and traditional ARM products.

Losses in the senior mortgage program have been a drain on the Federal Housing Administration's mortgage insurance fund that supports all single - family loan programs, including traditional forward mortgages and reverse mortgages.

On the other hand, with a traditional mortgage, the retiree could relocate and keep the original house as rental or investment property, while the reverse mortgage would require a payoff in such a scenario (as the retiree would cease to use the properly as a primary residence, one of the key requirements for keeping a reverse mortgage in place).