Zillow Advice RSS: Question-Discussion-Guide,Home Ownership,GA http://www.zillow.com/advice/GA/home-ownership/question-discussion-guide/mortgage/?s=0 Zillow Advice search results | Zillow Real Estate On very low income monthly can I get a first time home buyers loan???? http://www.zillow.com/advice-thread/On-very-low-income-monthly-can-I-get-a-first-time-home-buyers-loan/367873/ <p>It depends.&nbsp; You will need to speak with a licensed mortgage broker/lender to determine if you qualify for a mortgage loan.</p><p>Here is a link to HUD that provides some details on programs for first time home buyers in Georgia.<br/><br/><a href="http://www.hud.gov/local/index.cfm?state=ga&amp;topic=homeownership" rel="nofollow">http://www.hud.gov/local/index.cfm?state=ga&amp;topic=homeownership</a></p><br \><br \>0 replies Mon, 27 Sep 2010 13:58:00 GMT http://www.zillow.com/advice-thread/On-very-low-income-monthly-can-I-get-a-first-time-home-buyers-loan/367873/ 2010-09-27T13:58:00Z Do you have to have A-1 credit in order to purchase these homes? http://www.zillow.com/advice-thread/Do-you-have-to-have-A-1-credit-in-order-to-purchase-these-homes/304379/ I could suggest a good <a href="http://www.zillow.com/directory/lenders/">mortgage broker</a> I have worked with for 10 years to help you. She could check your credit and tell you what you can do.<br \><br \>0 replies Mon, 07 Dec 2009 01:51:00 GMT http://www.zillow.com/advice-thread/Do-you-have-to-have-A-1-credit-in-order-to-purchase-these-homes/304379/ 2009-12-07T01:51:00Z Thank you I wanted to go to Bank of America and ask them for a loan is this wise? I bank there. http://www.zillow.com/advice-thread/Thank-you-I-wanted-to-go-to-Bank-of-America-and-ask-them-for-a-loan-is-this-wise-I-bank-there/220958/ If you have very good credit BOA is a good <a href="http://www.zillow.com/directory/lenders/">lender</a>. I have both a <a href="http://www.zillow.com/mortgage/">mortgage</a> and <a href="http://www.zillow.com/home-equity-loan/">home equity</a> line there and have found it to be very easy because they both show up with all of my other accounts when I login online.<br \><br \>0 replies Wed, 08 Apr 2009 13:09:00 GMT http://www.zillow.com/advice-thread/Thank-you-I-wanted-to-go-to-Bank-of-America-and-ask-them-for-a-loan-is-this-wise-I-bank-there/220958/ 2009-04-08T13:09:00Z I don't know what to do... my escrow continues to be short year after year what gives? http://www.zillow.com/advice-thread/I-don%27t-know-what-to-do-my-escrow-continues-to-be-short-year-after-year-what-gives/328867/ Also as a result of this the <a href="http://www.zillow.com/mortgage/">mortgage</a> payment continues to rise too. How do I stop the bleeding?<br \><br \>4 replies Fri, 26 Feb 2010 21:17:00 GMT http://www.zillow.com/advice-thread/I-don%27t-know-what-to-do-my-escrow-continues-to-be-short-year-after-year-what-gives/328867/ 2010-02-26T21:17:00Z How would you accelerate the fastest way be paying off your house and reduce interest payed? http://www.zillow.com/advice-thread/How-would-you-accelerate-the-fastest-way-be-paying-off-your-house-and-reduce-interest-payed/185449/ Personally, I would pay extra to principal every month starting at the very beginning of the mortgage. It is free, optional if finances get tight for a month or two and guaranteed to reduce your mortgage term. You cut a 200K 30 year mortgage at 6% by about 5.5 years with an extra $100 to principal each month and save thousands in interest. There are lots of calculators that will show you the savings over time and shortened term like this&Acirc;&nbsp;<a href="http://www.dinkytown.net/java/MortgagePayoff.html" rel="nofollow">one</a>.<br \><br \>0 replies Tue, 06 Jan 2009 18:14:00 GMT http://www.zillow.com/advice-thread/How-would-you-accelerate-the-fastest-way-be-paying-off-your-house-and-reduce-interest-payed/185449/ 2009-01-06T18:14:00Z How is the monthy rate determined, i.e credit score or can anyone purchase listed homes? http://www.zillow.com/advice-thread/How-is-the-monthy-rate-determined-i-e-credit-score-or-can-anyone-purchase-listed-homes/205593/ The monthly payment is based on the number of years financed, interest rate, and the total amount financed.&nbsp; Anyone can purchase a home, but you will need a decent credit score to have it financed.&nbsp; I recommend you get pre approved by visiting - <a href="https://app.shelter-mortgage.com/app/index.asp?supportStaffID=35" rel="nofollow">https://app.shelter-mortgage.com/app/index.asp?supportStaffID=35</a><br \><br \>0 replies Mon, 02 Mar 2009 16:37:00 GMT http://www.zillow.com/advice-thread/How-is-the-monthy-rate-determined-i-e-credit-score-or-can-anyone-purchase-listed-homes/205593/ 2009-03-02T16:37:00Z I'm looking for 500-$3000 down owner financing in surrounding area Riverdale http://www.zillow.com/advice-thread/I%27m-looking-for-500-3000-down-owner-financing-in-surrounding-area-Riverdale/482625/ In order to offer owner financing, the seller would have to carry no mortgage on the house. &nbsp;If they own the house free and clear and decide to offer financing, they would usually require 10-20% down due to the high default rate and cost &nbsp;of possible repairs. &nbsp;<br/><br/>If you have limited funds to purchase something, you might want to consider renting until you either are able to get qualified for a loan or are able to save up a larger down payment. &nbsp;<br/><br/>Lease purchases are also an option. &nbsp;Unfortunately due to a high lack of knowledge in how they work, and lack of follow thru, there is also a high default rate with this. &nbsp;Since you are essentially renting the home until you can get financing AND the down payment/option money is usually non refundable, you will be in a better position to just rent with a lower downpayment and again save your money.&nbsp;<br/><br/>Good luck.<br/><br \><br \>0 replies Fri, 05 Apr 2013 23:29:00 GMT http://www.zillow.com/advice-thread/I%27m-looking-for-500-3000-down-owner-financing-in-surrounding-area-Riverdale/482625/ 2013-04-05T23:29:00Z Can I sell primary home, move to rental and use profit to pay off other debt? http://www.zillow.com/advice-thread/Can-I-sell-primary-home-move-to-rental-and-use-profit-to-pay-off-other-debt/452100/ I think its great that you want to pay off your debt, but if you rent, you are paying someone else's, debt in the form of their mortgage. <br/><br/>Unless you bought your home a number of years ago (ten or more) you're not likely to make a profit, it is more likely to be a loss. It may not look like one, if you have a lot of equity tied up in your home and can take that out to pay off other debts. If that is the case, however, you could also refinance your primary residence at current rates, which are PHENOMENAL, and take the proceeds from that to pay off your other debt. <br/><br/>There is an exemption to the profit you can take on your primary residence without paying taxes. You can look that up on the IRS website or ask a tax professional. <br/><br/><br \><br \>0 replies Sun, 22 Jul 2012 16:56:00 GMT http://www.zillow.com/advice-thread/Can-I-sell-primary-home-move-to-rental-and-use-profit-to-pay-off-other-debt/452100/ 2012-07-22T16:56:00Z I have always wanted to purchase my own home. I am on disability can I buy on fixed income? http://www.zillow.com/advice-thread/I-have-always-wanted-to-purchase-my-own-home-I-am-on-disability-can-I-buy-on-fixed-income/283672/ You sure can buy with a fixed income. As long as it is consistant and still falls within the allowable debt to income ratio. The bankruptcy&nbsp;and your credit are&nbsp;the only things that might hang you up. I would consult a&nbsp;mortgage officer. &nbsp;<br \><br \>0 replies Wed, 30 Sep 2009 20:15:00 GMT http://www.zillow.com/advice-thread/I-have-always-wanted-to-purchase-my-own-home-I-am-on-disability-can-I-buy-on-fixed-income/283672/ 2009-09-30T20:15:00Z I recently have been thinking about buying a home and asked a realtor friend of mine and she said no http://www.zillow.com/advice-thread/I-recently-have-been-thinking-about-buying-a-home-and-asked-a-realtor-friend-of-mine-and-she-said-no/449673/ You have to run the numbers to see if it makes sense for you. If you can find a place for less than you can rent or even same as rent, it might be time to consider buying.<br/><br/>I would take look at this <a href="http://www.dinkytown.net/java/MortgageQualifier.html" rel="nofollow">mortgage qualification calculator</a>&nbsp;and see how much you could afford. What you qualify for and what you can afford can be two different things. Renting means no maintenance and no property tax, but owning means you have to pay for those things.<br/><br/>Do not buy because anyone tells you it is a "good time". Instead decide if it is the right time for you to buy or not. If you are considering it, I would start looking at listings in areas that you like, try to pay down your credit card debt and put a little money aside each month for a down payment. Currently, FHA will require about a minimum 2.5% down of the purchase price, but you will also need some money for inspections and escrow costs.<br/><br/>Run the numbers and read all you can before you contact any agent. If you decide to buy, interview several and do not be tempted to just hire your friend out of the gate. BUying is a big decision and mixing business with friendship can get sticky quickly.<br \><br \>0 replies Thu, 05 Jul 2012 17:40:00 GMT http://www.zillow.com/advice-thread/I-recently-have-been-thinking-about-buying-a-home-and-asked-a-realtor-friend-of-mine-and-she-said-no/449673/ 2012-07-05T17:40:00Z Bank mortgages are given based on your income, I don't make much any suggestions??? http://www.zillow.com/advice-thread/Bank-mortgages-are-given-based-on-your-income-I-don%27t-make-much-any-suggestions/580321/ Been doing some research on real estate investing and I want to know how to get started with little income.<br \><br \>3 replies Wed, 25 Mar 2015 21:22:00 GMT http://www.zillow.com/advice-thread/Bank-mortgages-are-given-based-on-your-income-I-don%27t-make-much-any-suggestions/580321/ 2015-03-25T21:22:00Z is there any first time home buyer incentive during tax filling for 2013 http://www.zillow.com/advice-thread/is-there-any-first-time-home-buyer-incentive-during-tax-filling-for-2013/514073/ Check with your local mortgage broker.&nbsp; Some cities have special programs for first time home buyers.&nbsp;<br \><br \>0 replies Sun, 06 Oct 2013 10:45:00 GMT http://www.zillow.com/advice-thread/is-there-any-first-time-home-buyer-incentive-during-tax-filling-for-2013/514073/ 2013-10-06T10:45:00Z Add a name to mortgage deed/house title. How? http://www.zillow.com/advice-thread/Add-a-name-to-mortgage-deed-house-title-How/499764/ Hello Guys,<br/><br/>Thanks in advance on answering my question. &nbsp;So, at the moment the house that I am paying mortgage for and live in has my parents' name on the mortgage. &nbsp;My question is, what must I do to in order to add my name to the mortgage deed or home title? &nbsp;Thank you for your time and advice.<br \><br \>2 replies Sun, 30 Jun 2013 22:33:00 GMT http://www.zillow.com/advice-thread/Add-a-name-to-mortgage-deed-house-title-How/499764/ 2013-06-30T22:33:00Z Hello http://www.zillow.com/advice-thread/Hello/165655/ Thank you for speaking with me today. I look forward to meeting you and doing business together.<br/><br/>Leonard Johnson<br/>Southeast Mortgage<br/>678-858-2741<br \><br \>2 replies Thu, 23 Oct 2008 18:04:00 GMT http://www.zillow.com/advice-thread/Hello/165655/ 2008-10-23T18:04:00Z Is it possible to rent with the option to purchase http://www.zillow.com/advice-thread/Is-it-possible-to-rent-with-the-option-to-purchase/318933/ Very much yes.&nbsp;<br/><br/>There are just a several things you should be very aware of to protect yourself from being scammed (since scammy RTO sellers do exist out there) and make sure you consult with a mortgage officer to ascertain how much your credit score needs to improve to be able to qualify for a loan AND make sure you know for yourself that you will take the steps needed to improve it before the lease term ends.<br/><br/>Best of luck!<br \><br \>0 replies Thu, 05 Feb 2015 23:20:00 GMT http://www.zillow.com/advice-thread/Is-it-possible-to-rent-with-the-option-to-purchase/318933/ 2015-02-05T23:20:00Z First-time Home buyer mortgage? http://www.zillow.com/advice-thread/First-time-Home-buyer-mortgage/116106/ is there any such thing??? i know they have <a href="http://www.zillow.com/learnmore/what-zillow-offers-buyers.htm">first time home buyer</a> programs but what about mortgages?? is there a real difference between the two???<br \><br \>2 replies Wed, 05 Mar 2008 16:00:00 GMT http://www.zillow.com/advice-thread/First-time-Home-buyer-mortgage/116106/ 2008-03-05T16:00:00Z We are 40% upside down in our mortgage but our income is good. What can we do? http://www.zillow.com/advice-thread/We-are-40-upside-down-in-our-mortgage-but-our-income-is-good-What-can-we-do/438454/ Hi - While there are some options but I think the best advice is to stay in your current home.&nbsp; As long as you can continue to make you mortgage payments along with your other committments you will be find.&nbsp; Good luck.<br \><br \>0 replies Tue, 10 Apr 2012 01:42:00 GMT http://www.zillow.com/advice-thread/We-are-40-upside-down-in-our-mortgage-but-our-income-is-good-What-can-we-do/438454/ 2012-04-10T01:42:00Z How do I find out who holds the mortage on a property? http://www.zillow.com/advice-thread/How-do-I-find-out-who-holds-the-mortage-on-a-property/423138/ Here in MN it is public knowledge, and may be ascertained by calling, or stopping by your county recorder's office.&nbsp; Some counties have the info online.&nbsp; What they cannot tell you is the terms, nor balance of the mortgage.<br \><br \>0 replies Thu, 17 Nov 2011 15:25:00 GMT http://www.zillow.com/advice-thread/How-do-I-find-out-who-holds-the-mortage-on-a-property/423138/ 2011-11-17T15:25:00Z Own willing to cover closing costs? http://www.zillow.com/advice-thread/Own-willing-to-cover-closing-costs/345759/ It is traditional in this area for the seller to pay some or all of the closing costs.&nbsp; The amount you would need would depend on the type of home loan you secure (FHA, VA or Conventional) and how the loan is structured by your lender.&nbsp;&nbsp; If you don't have a lender yet, it is best to interview a few and select one based on your comfort with the lender and the terms they offer for the mortgage.&nbsp; If it is a VA loan, you can get in with no down payment and the funding fee rolled into the loan.&nbsp;&nbsp; If it is an FHA loan you will need a 3.5% down payment as well as qualify for the loan.&nbsp; From there, once you know what your loan will cost you (closing costs and escrows) you are ready to structure an offer that will allow you to get as much of your closing costs and escrows paid by the seller while making an offer that will be acceptable to the seller.&nbsp;&nbsp; Call me for more details about how we should structure a deal like this to get you in with the least money out of your pocket as possible.&nbsp; <br/><br/>706-877-9349 cell<br \><br \>0 replies Mon, 03 May 2010 19:50:00 GMT http://www.zillow.com/advice-thread/Own-willing-to-cover-closing-costs/345759/ 2010-05-03T19:50:00Z What can I do to get more (or better) quotes for my loan request ZR-KNCMBKM http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-KNCMBKM/466495/ Just be honest when talking to mortgage providers. And a great source to see has good rates if you have good credit is bankrate.com. &nbsp;Go check it out. Or ask your Realtor that you are working with to find a suggestion. &nbsp;Always look at a few places if you are serious about saving money.&nbsp;<br \><br \>0 replies Tue, 30 Oct 2012 14:39:00 GMT http://www.zillow.com/advice-thread/What-can-I-do-to-get-more-or-better-quotes-for-my-loan-request-ZR-KNCMBKM/466495/ 2012-10-30T14:39:00Z