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enoughdollars · Joined: 30 Nov 2009 Posts: 4 1.53 Dollars($)

hi qmakerley

would you guide me that how much value of loan any lender can offer, against mortgage.

gmakerley · Posted: Mon Nov 30, 2009 8:47 pm Post subject:

well, i can't tell for certain what it is you're asking, but i'll try.

depending on where you live, you are going to find that lenders can offer you a loan with no more than 3.5% down payment (fha loan) or one with zero% down payment (usda loan).

those are the best products out there for low down-payment types, and these are two programs you don't have to have excellent credit to qualify.

surajs21 · Joined: 31 Jan 2011 Posts: 6 3.06 Dollars($)

Thanks for the informative post George.

Has anything changes since last year? Are major lenders charging non-refundable application fees these days before giving pre-approvals?

eric1 · Posted: Sat Feb 12, 2011 6:18 pm Post subject:

No, a lender cannot charge application fees up front. The only items they can charge for are third party fees (ie credit reports and appraisals).

gmakerley · Posted: Wed Feb 16, 2011 10:40 am Post subject:

Nice to know someone's got your back when it's needed.

markomaznik · Joined: 29 Jun 2011 Posts: 6 1.76 Dollars($)

It just makes good sense to do the ground work first and know wht your borrowing power is.

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Prequalification versus Preapproval