If I want to combine my 1st and 2nd mortgage what type of loan would that be?
If we refinance and combine our 1st mortgage and our home equity line, what type of loan is that call. I don't want to call a mortgage place right in a minute because they will run our credit and all that stuff. Also would we qualify for the low rates that are human being advertised if we own good credit?Answers: a second...
merrill lynch call it a flexible first
When applying for an apartment, what do they look for?
My sister and her boyfriend have put contained by an application for a studio apartment in Chicago. She is highly worried because she isn't exactly sure what they look for when reviewing her info.She has great credit, and great rental history, but have not lined up a situation in Chicago all the same. Her boyfriend has a great career but has no credit or rental history. She is worried that this will effect it somehow.
She also think they'll look in her dune account to see how much money she have. I don't think they hold the right to do that, do they?
So can anyone list the things they look for when you are applying to rent an apartment?
Answers: credit history and history of departed rented places...
the only point they really care more or less is that you pay your rent in good time and dont trash the place...so have some reference from past landlords stating those facts...
Depends on the innkeeper some want a work history some may want to know your previous rental, but if its your first apartment then probably only income verfication good luck
How does the 3/4 point cut by the fed affect refinancing a mortgage? is is better to do so now than it was b4?
Answers: YES! REFI NOW!
Arms are usually fixed to the LIBOR. London Interbank Offering Rate. What the feds did dont affect arms. Ive never seen one attacked to the Fed Rate. Its what happens in London.
Mortgages are sold on an open market like corn. Thats the reason Mortgages companies use the Libor over the Fed Index. Its much more stable then what the Fed does. In theory rates will come down. But 4 years or 5 years ago when Feds were dropping the rates. Mortgage rates went up 2% when the feds dropped the rates 3%.
Mortgage rates went down yesterday before the fed made their decision. It was because of the chinese market. People were pulling their money out of stocks and putting them into bonds. When the stock market recovers rates will slowing start to go back up.
Good Luck
Different mortgage rates at peg agaisnt different rates. Lowering the prime rate means that all those people that have ARM peg to the 1 yr Treasury will see their rate go down. Some longer ARM are tied to the LIBOR which has been going down for some time. Fixed rates are usually pegged to the 10 year treasury and the spread between the 10 yr and the Prime rate. Mortgage rates have been going down for some time now (last 2/3 months) but due to higher credit standard and decreasing housing prices people have not be able to take advantage of these lower rates. Lowering the prime rate will help credit card debt, car loan and short term ARM. All other loans are tied to other rates. In any case refinancing now or later is a function of your capability to refinance (higher credit standard and size of loan vs house price) than actual rates since they have already been decreasing for several weeks. Talk to your broker or bank and find out 1) what is your rate tied to (Prime, Libor, 10 yr treasury...) 2) you ability to refi as having good credit or looking at the loan amount versus your house comps.
good luck
I would say refi now, if you are planning on staying in your home for at least 3-5 yrs, you might as well refi into a low rate. Ofcourse good credit will be needed as the lenders are not lending to the subprime customers (dinged credit).