LoveToKnow Mortgage:AllComments

From LoveToKnow Mortgage

Comments

Contact your preferred lender and ask to speak to a mortgage consultant, or find a mortgage loan broker in your area to get you started with the loan process. Good luck!

-- Contributed by: Tamsen Butler

who do i talk to about getting a house loan

-- Contributed by: how con i get money for buying a new house

Check with real estate agents and other local resources within the Riverside area to see if you can find a suitable assumable home loan.

-- Contributed by: Tamsen Butler

NNED A ASSUMABLE HOME IN RIVERSIDE,CA ASAP

4-5BED 2-3 BATHS 2000 SQ FEET ECR......

-- Contributed by: SALDEYA7

Michelle, be sure to advertise your home locally so plenty of potential buyers will be alerted to the option to assume your loan. Good luck!

-- Contributed by: Tamsen Butler

I have a home in the 89436 area and also have a fha 6.0% fixed rate mortgage that is assumable.

please contact for further info..

-- Contributed by: michelle

Omri, there are a couple different resources to find an assumable loan. Contact local lenders and real estate agents to see if you can find a seller looking for someone to assume a mortgage loan. You may be able to find a great home and save some money while you're at it. Good luck!

-- Contributed by: Tamsen Butler

i would like to assume a ,ortgage in the 12208 or 11230 zip codes.

-- Contributed by: omri

Shauna, thank you for your comments. There is no loan product that is suitable for every single applicant, thus the assumption that assuming the loan is not perfect for everyone. Yes, assuming a loan can be a great option for some people, but is not for everyone.

-- Contributed by: Tamsen Butler

I don't know why anyone would say an assumable mortgage would not be your answer. That would be the way to go if your credit is not good. Any FHA or VA home made before December 1989 are assumable. Go to the MLS and try to find homes built before 1989 and ask the the owner if there loan is an FHA or VA loan. If it is, you can assume the mortgage with no qaulifying. I am a real estate investor and know this for a FACT. If you don't want to do that, they still have FHA loans available. You can go to a bank and get a loan regardless of credit or income. You just have to know that all banks may not have funding for the time of loan you are needing at the time. See, banks have a certain percent for every kind of loan they make (real estate, auto, etc. If they have maxed out for that loan, it does'nt matter how good your credit is. There may be one that turns you down, but the one next door may jump at your application. Even if you have been to 10 banks, keep going. Also, local banks are better when you have credit problems. You can use a local bank to biuld rapport by putting $1,000 in a savings account then get a secured loan for the same amount. After one or two times of doing this, you should have know problem getting a loan. Banks base most of there approvals on how they feel about you, if they feel you are a good risk.

-- Contributed by: Shauna McVay

Chances are that even if you find a mortgage to assume you will still need to qualify for a mortgage loan. I urge you to contact the credit reporting agencies and work toward getting the items resulting from identity theft removed from your credit report. Getting these items removed from your report should improve your credit rating. If your credit is bad regardless of the identity theft items then an assumable mortgage loan may not be the answer; you should take the time to improve your credit so that you can qualify for a traditional mortgage loan. Good luck in your quest for a home.

-- Contributed by: Tamsen Butler

I am wanting to have a home. My credit from the past is very bad and identity theft problems not my doing have made it worse. I can and will make my payments on a home if I could buy what I want. Is an assumable loan a possibility for me? Thank you in advance for your response.

-- Contributed by: Gregg Canfield
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