Posts Tagged ‘Loans’

Home and Business Loan?

Saturday, January 17th, 2009
DogJD asked:


First off, I’ve been looking into franchising a business. The business would be a cafe, that would cost about $100,000, give or take. It’s kind of hard to get a business loan because I’m in debt and don’t have the best credit score. I was thinking, and are there any loans out there that allow a person to have the $100,000 added onto their home mortgage loan or payment. So I have a $160,000 house, and I could refinance or whatever to get a loan for $250,000 to $300,000, give or take that would include a home and business loan in one. I thought of the idea because I know of loans that will let you borrow a certain percentage of your home loan for debts and other things. So, is there any out there, or do you have any other ideas? Thanks to any answers that come my way, or advice!

Andrew

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Posted in Credit | 3 Comments »

Home loan or mortgage question is it worth refinancing?

Sunday, January 4th, 2009
kristinjohnson111 asked:


I purchased a townhouse back in 2005 and i have two loans on it one for 490,000 fixed for 10 years at 5.75%, and a smaller loan for 54,000 dollars at a variable rate. Obviously the value of my house has dropped. But i’ve noticed some companies offer refinance rates at about 4.5%. If i put down about 10,000 and try to refinance will i be able to get that 4.5% fixed for 30 i guess. I have perfect credit and have never missed a payment since ive purchased the house. Also is it worth refinancing for 1%.? Thanks

Calvin

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Posted in Renting & Real Estate | 3 Comments »

Why is Stafford loan showing up as 6 accounts on credit report? Will it affect his credit for a mortgage loan?

Friday, August 15th, 2008
home mortgage loan credit
Senatorkatie asked:


I just ran my husband’s credit report and noticed that six different accounts appear for his Stafford Loan for graduate school. The loans are all through the same bank - Wachovia. Each semester they take out these loans so therefore it looks like he gets a new student loan every 6/7 months. First, can we correct this? Second, why are there six different accounts? Third, will this affect his credit score and therefore our chances of a lower interest rate on a home mortgage? Any information would be very helpful - I don’t even know where to begin.

Cory

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Posted in Credit | 2 Comments »

Home mortgage: Making down payment using credit card offer?

Thursday, April 10th, 2008
home mortgage loan credit
qadata asked:


History: This person applied for home mortgage loan 7 months ago. At that time he did not have any liabilities/loans and had funds in his bank account too.

Bank went through loan approval process and approved this person for several types of loans (80/20, 80/15/5, etc) after looking into salary, bank statements, etc. This person went ahead and signed a contract with builder to build a new house.

Things have changed and now this person does not have money to make even 5% down and still wants to proceed with home purchse since there are enough credit card balance transfer offers he can use to make 5% or even 20% down without a problem.

I guess my question is would bank have any issues with down payment using credit card balance transfer? Is there a possibility bank would know this person ows money to a credit card company (if not timed properly since they are going to run a credit report again)? Has anybody done it before? any legal issues with this approach?

Thanks!
QAData

Anthony

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Posted in Renting & Real Estate | 3 Comments »