I bought a new home from the builder. The builder deals with a certain bank and they want me to get my mortgage from the same bank they are dealing with. Do they have the rights to do this? Or, am I free to choose whichever bank I want?

My Dad wants to finance my home but doesn’t know what rate he can charge me.

recently I was approved for a loan of 180k on a 189k house. If I live in it for over a year and sell it, do I have to pay off the entire 30 year finance charge of 280k? or am I typically only responsible for the years ecrued interest plus any prepayment penalty and taxes, fees,insurance, etc? I can’t find any info on this anywhere. please only serious answers who know about home mortgage finance.

In the near future (early 2008), I hope to purchase my first home. However, I would like to know if there is a difference between a traditional bank (as Wachovia and Regions) and credit unions as far as mortgage programs and qualification requirements? I am a member of both, but have heard it is harder to qualify at traditional banks vs. a credit union. Does anyone have any comments or personal experiences? Thanks!

1) I’m interested in learning the best way to purchase a second property, possibly at sheriff sale, using part of (40% ?) the equity in my primary residence (which I recently paid off) so I don’t have to liquidate as much stock to "come up with cash up front"… & 2) If required to provide a certified bank check made out to Lehigh County, PA. (10% of purchase price w/ remander being applied to the balance) and I am outbid or choose not to buy the property, how do I return the funds to my account?

MINE IS HORRIBLE.

is it better to pay 0 extra every month? I also have 17K left for my car 3yrs left.

What is the best way? Please help!

I have a flexible mortgage that allows me to draw down additional funds when I need them.With a growing family and a stagnant housing market,would it be a good idea to increase my mortgage by around 25k to build the extension,given the existing economic climate?

I am currently in a 5k new construction house and haven’t made any upgrades in the 3 years I have lived there. If I were to sell it for less than I bought it for like let’s say k (for example), for story sake lets rule out any principal $$ that is secured towards the actual house - and in turn find a k house where does that k from my last mortgage go?

Is that k able to transfer into the new mortgage of the k home mortgage making it k or is that a separate loan in itself? I have a feeling I’m going to be eating some costs to get rid of my home to purchase a bigger & older home but where does that cost essentially go? How is it accounted for, and is it transferable?

Just curious? Any insight would be deeply appreciated.

Thanks in advance!!

I’m looking for a bank or mortgage broker to finance my first home. I don’t have much to put down, but was told that some banks would provide 100% financing. (I know it’s better to put something down). I have good credit, 0 debt except for a student loan. Who are the better companies to deal with in this area.

Is it possible to finance a home within the first year of bankruptcy?

My family and I are tired of renting. I have a credit score of 530 and admit that I have a bad history of paying on time. I base it on importance first of all. For example, I pay my rent on time every month but I always pay my loan payment about a week late every month. I am planning on paying off 3 loans that I have with my income tax. I should be saving about 0 a month. I calculated that if I pay 0 a month now in rent, I can contribute an additional 0 in paying for a house payment. My husband also just got on disability so this would help out as well. I should be getting a dollar raise next month also. I make about ,000 a yr but next year should be better. I have been employed for 2 1/2 yrs at the same place and dont plan on going anywhere else. What is best for my situation? I tried buying a home last year but I went with Wells Fargo Home Mortgage since I have a checkings account there. Basicly the guy there told me he couldnt help me with a 500 score and that owner finance would be my best bet. I have looked into owner finance but havent found too many homes out there. My lease ends in a few months and I am tired of living in the bad neighborhood that we live in. I really need some advice. Which would be my best option? Should I wait for my raise next month? Should I wait a month or 2 after I pay off my loans during income tax? Honestly, we want something where we can get the taxes and insurance escrowed.

I am getting ready to buy a home and land from a family member, through owner financing. The land and house currently has an existing mortgage, what will happen if the owner dosent pay the existing mortgage? Im not sure how owner financing works.
thanks

Finances

my father has never owned anything and this will be his first time purchasing a home but he is having problems because he has no credit just minor medical collections and we really want him to stop paying rent and start paying his own house,he already raise his children i think is time for him to get something back.

Bought my house about 7 months ago on a 100% financed mortgage with an unbelievably low interest rate, so I want to avoid refinancing. I don’t think i can do a home equity loan because I have little to no equity since i did the 100% finance. Any ideas? I need about 10000 - 15000 for new siding work.

Our current rate is 7.75% on a 8,000 loan and with the drop in interest rates, we’d like to explore re-financing. Are there any companies that will do all the legwork for us? (i.e. find us the best possible re-financing deal.) If not, where do I start? I don’t want to fill out a ton of credit applications before I know all the terms of the loan. Thanks!

I am currently with Citimortgage and I’m thinking about re-financing my condo.They do charge a one-time non-refundable processing fee of 5.00.Is that a decent price or are there better deals out there and what lenders don’t charge a closing fee (if any)? Any recommendations?

We have a buyer who would like to owner-finance our home; however we still have a mortgage. Will we have to pay off the mortgage or can we pay it off when the balloon payment is made at the end of 5 years?