new home mortgage

Guest 0.10 Dollars($)

I am about to close on new home mortgage. I am going to change my job field and switch over to new job. Will there be any problem for this job change just before closing?

blue · Posted: Mon Dec 26, 2005 1:49 pm Post subject:

Hi Eddie,

On previous days it could have been a problem as the lenders could have been worried by your job change just before closing of the new home mortgage.

Today the thoughts has changed and the lenders are not bothers to issue a new home mortgage as long as they find you are earning considerably and continuously. It is not going to make any impact with the change in field.

But you must have at least the same level of income and it should be full time job. you should be employed in a full time job on the closing date.

But to avoid confusions always let your mortgage broker or lender to know about your switch over.

Regards,
Blue

Guest 0.10 Dollars($)

I am in the process of a new home loan. I am going to have an appointment with a lender recommended by a relative. Is there anything specific to be prepared for the appointment?

thanks

blue · Posted: Mon Dec 26, 2005 2:42 pm Post subject:

Hi Powell,

I would like to take this opportunity to congratulate you on your new home buying process. A new home mortgage is easy to get today with the terms varying with your loan type requirement, financial status, job stability and credit history among others.

You have to go through certain paper works with your lender during the process. Lenders want to be assured of the repayment while issuing a new home mortgage loan.

Lenders will require certain information to be provided -

If you are employed with some other then you have to produce W2 forms for the last two years and if you are self-employed, then you need to show 1099.
Pay slip for the last two months
Your Federal tax returns for the past 2 years
If you are having a business, then you have to show the business tax returns
Social Security where ever applicable

You may have to produce proof of your assets, bank statements, and other related information on your properties. Gift funds if any will be verified closely and the lender would like to know if you can make payments with any gift.

Your credit report will be verified and you need to give explanations incase of any late payments, liens etc.

This bunch of papers and paper works may bother you for some time but once these are sorted out you will enjoy the benefits from a new home mortgage and own your dream home.

Regards,
Blue

Guest 0.10 Dollars($)

Hi Powell,

I shall like to mention what you should avoid while going for a new home mortgage. It is fine to have a lender recommended by your relative but it will be wise to have a shop around and check with different banks and lenders. This will enable you get the best loan which may suit you.

Avoid making big credit purchases and borrowing too much money prior to the application. Go through the mortgage process involved and help yourself to avoid junk fees.

Thomas

robertsali2001 · Joined: 07 Apr 2006 Posts: 5 0.17 Dollars($)

please if iwant to have an oppotunity of getting home loan mortage what can i do?

Samantha · Posted: Tue Apr 11, 2006 10:38 am Post subject:

Hi Robert,

You need to do some shopping around to find out which mortgage loan and it's terms suits you best. There are plenty of them in the market but you have to find out the most suitable for you.

A mortgage broker can help you in this search but you need to a little bit aware yourself too.

Some of the things that the lenders/brokers will look into are your score, debt to income ratio, income, debts, credit history etc.

If you want to get our help, you need not do anything further as of now. You already signed up with us. Your information will be forwarded to our appropriate department so that they may contact you and help you with your requirements.

Feel free to ask if you have any more doubts.

God bless you.

For MortgageFit,
Samantha

robertsali2001 · Joined: 07 Apr 2006 Posts: 5 0.17 Dollars($)

hi
if i have a bad credit and i get a home mortage loan,i that i not easy,what can i do i order to be succesful?

robertsali2001 · Joined: 07 Apr 2006 Posts: 5 0.17 Dollars($)

hi,
what does it take for someone to get a mortage loan?

jerry · Posted: Wed Apr 12, 2006 12:28 am Post subject: RE:

Hi,

Now day’s lenders are willing to give loans to the borrowers with bad credit. But to avail the best mortgage rates available to you at your credit score you will have to shop around well.

I would also suggest if, you can wait for time then go for credit repair because then you will get better rates.

Thanks,
Jerry

jameshogg · Posted: Wed Apr 12, 2006 1:52 pm Post subject:

Getting a home loan with poor credit is possible but you may have to face higher interest rates. Smile

You need to do a little bit of shoping around to find out the lender who can offer you a suitable loan.

You need to be aware that credit score is not the only factor tht is checked by the lender. Your income, assets, debts, neagtive marks if any on your credit report etc. are also taken into account.

Feel free to ask if you have more doubts.

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