Im interested in a Two family detached building with a ILLEGAL 1 br apartment downstairs…How does the bank look on this? I know they do not even consider the income but can it stop us from being paid a mortgage on the property?
The appraisal from my bank from which I am being paid a mortgage told me the appraisal came in at the buy price. It seems weird that the appraisal would be exactly the buy price. Can someone please clarify?
I’m self emlpoyed with no proof of income, not fussed about being paid a mortgage but wondered how simple it is to get a self cert. I’ve been in affair for 5 years, no terrible credit, no criminal record or anything scarce. How much can you borrow and how much deposit do you need?
I had a hard time being paid a mortgage because my surpass half’s credit was not so excellent so they had to base everything on me. The only type of loan we excellent get was a loan they called a balloon mortgage. It is fixed for 5 years at 7.25 and we were told we would be able to refinance after a couple of years. What happens if we don’t refinance. Will my monthly payment go alot higher.
I’m honestly young, so I don’t know much about this subject but I want to have some sort of plot when the time is right. I wanted to know what I need to get a excellent deal on mortgage besides excellent credit, of course. Right now, my credit score is a small over 700. I don’t have any money saved for a down payment. For this, we can use a $500,000 house as an example. Thanks for your help!
Oh, and there might be someone else being paid into it with me but that’s not certain at this time.