Zillow Advice RSS: Question-Discussion-Guide,All Real Estate Advice Topics,NY http://www.zillow.com/advice/NY/all/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate If I want to buy a property with 2 other people, what is the best way to go regarding a mortgage? http://www.zillow.com/advice-thread/If-I-want-to-buy-a-property-with-2-other-people-what-is-the-best-way-to-go-regarding-a-mortgage/187826/ Put them all on as borrowers. They should all be on the hook and on title. Otherwise, if it goes bad, one my walk and leave the other holding the bag. On they other hand, that could play aginst you too. What if someone wants to bail out. I would want to be taken off title and the <a href="http://www.zillow.com/mortgage/">mortgage</a> if I am out, causing you to refi. How about one, with rental contracts, the one or two who are on the <a href="http://www.zillow.com/mortgage/">loan</a> get the dedcutions though and the others are SOL. Also, title and holding it how. Sorry to be to brutal, but what if someone dies, who gets what. That is why title will be important too.<br \><br \>0 replies Tue, 13 Jan 2009 03:23:00 GMT http://www.zillow.com/advice-thread/If-I-want-to-buy-a-property-with-2-other-people-what-is-the-best-way-to-go-regarding-a-mortgage/187826/ 2009-01-13T03:23:00Z credit scores changed after pre approval of mortgage can they drop a name from the contract? http://www.zillow.com/advice-thread/credit-scores-changed-after-pre-approval-of-mortgage-can-they-drop-a-name-from-the-contract/468022/ 2 replies Sat, 10 Nov 2012 13:02:00 GMT http://www.zillow.com/advice-thread/credit-scores-changed-after-pre-approval-of-mortgage-can-they-drop-a-name-from-the-contract/468022/ 2012-11-10T13:02:00Z I want to find the market value of my property http://www.zillow.com/advice-thread/I-want-to-find-the-market-value-of-my-property/508050/ Ask your real estate agent to show you recently sold homes in your area that compare to yours. Also take a look at similar homes in your neighborhood that are currently for sale.<br/><br/>At the moment, if your Westchester county neighborhood is congruent with what is happening&nbsp;here in South&nbsp;Florida (where New&nbsp;Yorkers&nbsp;move after they sell) sellers are&nbsp;pushing their asking prices higher and higher each time another home sells in the neighborhood.<br/><br/>This tends to move asking prices into places where mortgage appraisers fear to tread.&nbsp;&nbsp;If you compare&nbsp;your home - rationally - to the latest two or three comparable sales -- you'll find the per square foot value of the home.<br/><br/>Decide if the appearance of the inside and / or outside of your home and your home's amenities&nbsp;are better or worse than the comparables.<br/><br/>Once you make that decision, you'll have a pretty good idea of what your home is worth today. Now, look once again at the prices of the other homes for sale. If they're well above the last selling prices, price a bit lower.&nbsp; If their prices are&nbsp;just a bit&nbsp;above&nbsp;the comparable sales, decide how fast you want to sell and price accordingly. <br/><br \><br \>0 replies Thu, 22 Aug 2013 02:20:00 GMT http://www.zillow.com/advice-thread/I-want-to-find-the-market-value-of-my-property/508050/ 2013-08-22T02:20:00Z Is it possible to work with buyers agent online? http://www.zillow.com/advice-thread/Is-it-possible-to-work-with-buyers-agent-online/461865/ <p>I would like to look for invetsment opportunities&nbsp;in Chicago&nbsp;but I am living overseas. Is it possible for do the preparation works in advance&nbsp;and close a house in two weeks time during my trip? I plan to pay in cash only without mortgage.</p><br \><br \>1 reply Fri, 28 Sep 2012 21:52:00 GMT http://www.zillow.com/advice-thread/Is-it-possible-to-work-with-buyers-agent-online/461865/ 2012-09-28T21:52:00Z how can i get a takeover home mortgage? http://www.zillow.com/advice-thread/how-can-i-get-a-takeover-home-mortgage/341785/ 0 replies Wed, 07 Apr 2010 17:44:00 GMT http://www.zillow.com/advice-thread/how-can-i-get-a-takeover-home-mortgage/341785/ 2010-04-07T17:44:00Z Who pays the title services and lender's title insurance at closing? Do I need title insurance? http://www.zillow.com/advice-thread/Who-pays-the-title-services-and-lender%27s-title-insurance-at-closing-Do-I-need-title-insurance/372578/ The buyer is responsible for these and the fees will be in your good faith estimate.&nbsp; FHA mortgages require mortgage insurance, which includes an up front premium as well as monthly premiums.&nbsp; The up front fee for fha has just recently gone up.&nbsp; Your attorney usually works with a title company and they will provide you with title insurance.&nbsp; While most people will go with whoever the attorney works with, you can get your own.&nbsp; Any questions, let me know &amp; good luck on your purchase.<br \><br \>0 replies Mon, 25 Oct 2010 18:50:00 GMT http://www.zillow.com/advice-thread/Who-pays-the-title-services-and-lender%27s-title-insurance-at-closing-Do-I-need-title-insurance/372578/ 2010-10-25T18:50:00Z HOW DO I FIND OUT IF HOUSE IS FOR SALE OR FORECLOSURE, HEARD OWNER DIED http://www.zillow.com/advice-thread/HOW-DO-I-FIND-OUT-IF-HOUSE-IS-FOR-SALE-OR-FORECLOSURE-HEARD-OWNER-DIED/326398/ I would start with the Suffolk Profile Listings where <a href="http://www.zillow.com/mortgage/">mortgages</a> that are delinquent are listed. If the <a href="http://www.zillow.com/mortgage/">mortgage</a> payments are behind, the property would be listed here. The Suffolk Profiles will also tell you who holds the mortgage and what the delinquent amount is.<br/>The next place to go is the Municipal tax office which, in this case, would be the Town of Babylon. Find out from the Town when the last tax payment was made and by whom. If there is a mortgage on the property it is most likely that the <a href="http://www.zillow.com/directory/lenders/">mortgage company</a> paid the tax bill. The mortgage company would continue to pay this bill even if the owner is in arrears on their mortgage payments.<br/>If the homeowner is deceased, you would&nbsp;need to find out who is handling the owners affairs - the Executor/Executrix. Perhaps through a search of the death notices in the local paper you may be able to find out information about living relatives to contact.<br/>Good luck in this endeavor, it may not be easy but you will no doubt become well-acquainted with tracking down absent owners. If I can help you with anything else, don't hesitate to call on me.<br \><br \>0 replies Sat, 20 Feb 2010 03:09:00 GMT http://www.zillow.com/advice-thread/HOW-DO-I-FIND-OUT-IF-HOUSE-IS-FOR-SALE-OR-FORECLOSURE-HEARD-OWNER-DIED/326398/ 2010-02-20T03:09:00Z Is it possible? http://www.zillow.com/advice-thread/Is-it-possible/403375/ Other than foreclosures &amp; bankruptcies, VA mortgages are primarily concerned with your consumer payment history for the past 12 months. &nbsp;It used to be back in the day lenders didn't even care if you had delinquent marks on credit in the last 12 months if you were to get an automated underwriting approval, but these days underwriter's are almost always looking for 12 months of clean credit with the exception of medical collections. &nbsp;You have on time payments for 21 months it sounds like, and a 667-687 score is pretty decent for VA financing, but you have some owing charge-offs, and that does come down to an underwriter's call on if those would be required to be paid or not - most VA underwriter's will not require them to be paid unless the automated underwriting approval requires it (which I've never seen VA's require it).<br/><br/>The judgments are a non-issue if they are no longer owed, your loan officer can get what is called a "credit supplement" to show the underwriter's they have been paid.<br/><br/>If your debt to income ratio is within reasonable levels, like no more than 41% of your gross income, then I'd say you'll have a very good chance at getting a VA pre-approval.<br \><br \>0 replies Wed, 15 Jun 2011 17:30:00 GMT http://www.zillow.com/advice-thread/Is-it-possible/403375/ 2011-06-15T17:30:00Z What are some thoughts on buying vs renting in the lower westchester NY area? http://www.zillow.com/advice-thread/What-are-some-thoughts-on-buying-vs-renting-in-the-lower-westchester-NY-area/375669/ Dear abhisegal,<br/>The mortgage rates are at historic low, the prices are as low as about 4, some areas 5&nbsp;years ago,&nbsp;and hopefully the economy is on its way back.<br/>If you have some money, it is a great time to buy, as long as you are employed and you can use the tax right off as well.<br/>In 4 years you will be happy you did!<br \><br \>0 replies Sun, 21 Nov 2010 18:05:00 GMT http://www.zillow.com/advice-thread/What-are-some-thoughts-on-buying-vs-renting-in-the-lower-westchester-NY-area/375669/ 2010-11-21T18:05:00Z What is ROI ? http://www.zillow.com/advice-thread/What-is-ROI/474198/ ROI = Return On Investment. [removed by Zillow Moderator]<br/><br/>you take the rental income, subtract all expense such as taxes, insurance, mortgage interest, maintenance, and estimated vacancy, and divide by the investment.&nbsp;<br \><br \>0 replies Sun, 20 Jan 2013 07:22:00 GMT http://www.zillow.com/advice-thread/What-is-ROI/474198/ 2013-01-20T07:22:00Z Wouldn't I save thousands over the life of the loan by paying va funding fee upfront? http://www.zillow.com/advice-thread/Wouldn%27t-I-save-thousands-over-the-life-of-the-loan-by-paying-va-funding-fee-upfront/317170/ My <a href="http://www.zillow.com/directory/lenders/">lender</a> said I could have the funding fee for a va <a href="http://www.zillow.com/mortgage/">mortgage</a> rolled into the <a href="http://www.zillow.com/mortgage/">loan</a>, but I feel by paying it upfront several thousand, that I would be saving money .<br \><br \>1 reply Fri, 22 Jan 2010 02:02:00 GMT http://www.zillow.com/advice-thread/Wouldn%27t-I-save-thousands-over-the-life-of-the-loan-by-paying-va-funding-fee-upfront/317170/ 2010-01-22T02:02:00Z Want to refinance, but my loan isn't owned by Freddie or Fannie and LTV is close to 89%? http://www.zillow.com/advice-thread/Want-to-refinance-but-my-loan-isn%27t-owned-by-Freddie-or-Fannie-and-LTV-is-close-to-89/221724/ Refer your question to any qualified <a href="http://www.zillow.com/mortgage/">mortgage</a> broker.<br \><br \>0 replies Thu, 30 Apr 2009 22:09:00 GMT http://www.zillow.com/advice-thread/Want-to-refinance-but-my-loan-isn%27t-owned-by-Freddie-or-Fannie-and-LTV-is-close-to-89/221724/ 2009-04-30T22:09:00Z Can A fha Non owner occupied property be eligible for a loan Modification? http://www.zillow.com/advice-thread/Can-A-fha-Non-owner-occupied-property-be-eligible-for-a-loan-Modification/495757/ I have a case I am working om now and Would be interested to know if anyone has received a loan mod with a fha mortgage that is not owner occupied?<br \><br \>2 replies Thu, 06 Jun 2013 19:47:00 GMT http://www.zillow.com/advice-thread/Can-A-fha-Non-owner-occupied-property-be-eligible-for-a-loan-Modification/495757/ 2013-06-06T19:47:00Z Chase vs. BOA, etc. http://www.zillow.com/advice-thread/Chase-vs-BOA-etc/270991/ Hi everyone.<br/><br/>I am going crazy over which bank to use. THe coop (in NYC) that I am getting is already on the list of approved buildings in the Chase database. For Bank of America and Wells Fargo, the <a href="http://www.zillow.com/mortgage/">mortgage</a> specialist told me that they have worked on the building before but the approval has expired.1. Does that mean it is definitely quicker to go with Chase?<br/>2. How do I ensure that I am getting a competitive rate with Chase?<br/>3. I have talked to the Chase mortgage specialist and he assured me that I will get a good rate. I also happen to be a Chase customer (credit cards, bank accts are all with Chase). Do you know if I can get some kind of discount since I am already affiliated with them?Any help would be appreciated!<br \><br \>2 replies Sun, 23 Aug 2009 12:33:00 GMT http://www.zillow.com/advice-thread/Chase-vs-BOA-etc/270991/ 2009-08-23T12:33:00Z What fico score determines my mortgage approval? http://www.zillow.com/advice-thread/What-fico-score-determines-my-mortgage-approval/486532/ My Wifes fico is 733 and mine is 503.How will the bank treat this in terms of a loan for a house?<br \><br \>10 replies Fri, 05 Apr 2013 20:21:00 GMT http://www.zillow.com/advice-thread/What-fico-score-determines-my-mortgage-approval/486532/ 2013-04-05T20:21:00Z Does having a co-borrower reduce DTI on a mortgage? http://www.zillow.com/advice-thread/Does-having-a-co-borrower-reduce-DTI-on-a-mortgage/421873/ I'm interested in purchasing a third home as an investment property. I currently have too little equity in my primary residence (less than 30%) to count any rental income I could get from it toward my debt-to-income ratio for the purposes of a <a href="http://www.zillow.com/mortgage-rates/">loan</a>, so my DTI on paper is too high.<br/><br/>My brother makes 45K salary and has essentially zero debt - he is free-and-clear on his car, rents a single room, etc.<br/><br/>I have enough saved for a 25% down payment for a home in the price range I'm looking at and have more than enough excess income each month to make a <a href="http://www.zillow.com/mortgage-glossary/Principal-Interest-Taxes-and-Insurance-%28PITI%29/">PITI</a> payment on such a <a href="http://www.zillow.com/mortgage-rates/">mortgage</a>. Does including my brother as a co-owner and participating investor lower the overall DTI, or does it not change the fact that I'm over the threshold by myself?<br \><br \>4 replies Sun, 06 Nov 2011 02:34:00 GMT http://www.zillow.com/advice-thread/Does-having-a-co-borrower-reduce-DTI-on-a-mortgage/421873/ 2011-11-06T02:34:00Z new mortgage or loan assumption http://www.zillow.com/advice-thread/new-mortgage-or-loan-assumption/209431/ <p>House deed under my name and <a href="http://www.zillow.com/mortgage/">mortgage</a> note under my brother's name. If i want to transfer the mortgage note under my name; what are my options? It is 30 conventional <a href="http://www.zillow.com/mortgage/">loan</a> and performing loan with 5.75% interest rate.</p><br \><br \>2 replies Wed, 11 Mar 2009 22:56:00 GMT http://www.zillow.com/advice-thread/new-mortgage-or-loan-assumption/209431/ 2009-03-11T22:56:00Z Can a mortgage include your credit card http://www.zillow.com/advice-thread/Can-a-mortgage-include-your-credit-card/230985/ I would like to know if (when purchasing a home) you can add all your credit card debt to the monthly <a href="http://www.zillow.com/mortgage/">mortgage</a> payment?&nbsp; Its kind of consolidating the credit card debt with the home's mortgage.&nbsp; <br/><br/>Can this be done with an <a href="http://www.zillow.com/fha-loan/">FHA</a> loan? Ideally, i would like to buy a house for 400K thru the <a href="http://www.zillow.com/fha-loan/">FHA mortgage</a>, but borrow a little bit more for my credit card debt.<br \><br \>2 replies Mon, 04 May 2009 17:02:00 GMT http://www.zillow.com/advice-thread/Can-a-mortgage-include-your-credit-card/230985/ 2009-05-04T17:02:00Z How can I avoid this? http://www.zillow.com/advice-thread/How-can-I-avoid-this/394175/ My ex-wife's attorney has asked the court to authorize him to execute a mortgage on my home if I don't provide proof of life insurance within 5 days.&nbsp; I won't get my policy papers for antoher 15-20 days.&nbsp; How can I keep this from happening?&nbsp; I don't even know what this really means.&nbsp; If he does it before I can submit the insurance papers, can it be reversed or cancelled? What else can I do?<br \><br \>3 replies Fri, 08 Apr 2011 13:08:00 GMT http://www.zillow.com/advice-thread/How-can-I-avoid-this/394175/ 2011-04-08T13:08:00Z When selling, can you ask a higher price than what the house is appraised for? http://www.zillow.com/advice-thread/When-selling-can-you-ask-a-higher-price-than-what-the-house-is-appraised-for/489631/ Where and when did you get the appraisal? Who did it and for what reason? There are several types of appraisals.<br/><br/>You can ask any amount you like for the house. If a buyer is going to use a mortgage to finance part of the purchase, the lender will order an appraisal on the home after the contract is signed by all parties but before beginning &nbsp;the final approval process. If the house does not appraise out to the bank's satisfaction, they will not approve the mortgage.&nbsp;<br \><br \>0 replies Fri, 26 Apr 2013 03:41:00 GMT http://www.zillow.com/advice-thread/When-selling-can-you-ask-a-higher-price-than-what-the-house-is-appraised-for/489631/ 2013-04-26T03:41:00Z