i want to buy a property for 150k..i have a 5% deposit and need to self certify - which is the best mortgage?
822801
if i were you i would go to an independent mortgage adviser for help i got a variable with a fixed rate or 5 years that way it stays the same for 5 years
856386
Heres is some advice! If you are looking to purchase a home, first get pre-qualified. If you log onto http://www.justgetaloan.net we can get a you a fast free pre-qualification with access to great service,programs and low rates. Getting pre-qualified will let you know how much you can afford. Also when dealing with a realtor the realtor will work harder for you knowing that they have a real client. Many people want to buy homes, those who have the ability are the ones realtors work for. Also it will give you buying power. I.E. Seller is selling home for 200k you have been pre-approved for a mortgage up to 190k the seller is more likely to come down on the price becuase you have been qualified for the mortgage. Its like your walking around with a blank check. Feel free to log onto the site http://www.justgetaloan.net also you can contact me at 866 530 7300 ext 7305 or by email at jfreeman@justgetaloan.net
868391
It depends so much.\n\nFirst of all, I would suggest you AVOID these courses that cost thousands - by all mans go on the "free taster course" - it gives useful info - but do NOT waste £2,500 on the main one.\n\nThe problem is many folks CAN and DO make money without paying for any courses at all - and they do it well. Having said that, I spend about £300 on one some time back and now have a portfolio far larger than I could have managed if I didn't know how to get 100% BTL mortgages (get min 15% of developer and then do a back2back mortgage deal with a specialist broker) then I would have ended up with perhaps just one or two.\n\nI now also know why your should never really plan on selling (unless to re-invest in more deals) - instead equity release (totally tax free income) and let the tenant keep paying the mortgage (interest ONLY).\n\nContact me directly if you have some specific questions about what sort of thing you want to do - there are many ways to make your money.\n\nBuy old, rennovate (paint, new fittings, new carpet, curtains) sell\nBuy off-plan - get at least 15% BMV to make it worth while (Below Market Value) then either:-\nRent out and use rental to pay mortgage, ground rent and maint fees (and letting agent fees)\nOR\nSpin (sell on again). Depending on how you do this and how often you do it depends on which method you use to avoid CGT\n\nI will answer a FEW specific questions for you, if you wish, after that I can suggest one or two places that you might look at to actually get hold of useful manuals and materials.\n\nLike many things, *IF* you are serious about doing this, then you would do well to learn the ways to make you investment money go farthest. If you prefer to learn it all on your own - that is fine too - and you will probably still make money, perhaps just not quites as quickly.
133083
Start with a mortgage broker.  Talk to your friends and/or family and have them refer one to you.  Talk with the loan officer and don't be afraid to ask questions.  Make sure you feel confident and comfortable with them.\n\nAlso, shop around for rates.  You owe it to yourself to get the lowest rate at the lowest possible costs.  Ask each person to give you a Good Faith Estimate and if they would be willing to lock the quoted rate same day.  (Rates can change throughout the day, so don't spend *too* much time shopping around).\n\nAlso, do not allow people to randomly pull your credit.  This will lower your score for several months, and excessive  inquiries may lower your score enough to disqualify you for the best possible rates and programs.\n\nMake sure you are 100% honest and up-front with your loan officer.  We can typically navigate through many problems, but the ones that surprise us can sink the ship.\n\nGood luck, and happy hunting!
273288
remember not to go to a broker because they earn commission which could have been discounts off your home loan and they throw you away after the sale.\n\nremember to haggle. go to the 4 major banks, talk to every trustworthy financial institution and haggle. for my experience, i got 0.9% off of the lowest rate at the time, it was cheaper than what the bank paid on term deposit interests.
904192
You need to ask for a 100% mortgage.. to get that you need to be earning loads of money.. I did hear that some banks are offering 5x your salery.. in that case if you are on £30,000 a year you would be able to get a £150,000 house
15075
Something you do not want!\n\nAjustable Rate Mortgage...this percentage interest on your mortgage will change based on a percentage over the goverment's T-Bill, which changes for inflation throughout the year. If interest rates are VERY high, say over 8-9%, you may wish to get a low Adjustable Rate with the idea that it will go down in the future and you can then refinance a fixed rate at that time...or...if you are making little money now and need a low payment but are certain that you will be able to afford a higher payment in the future. These often have maximums that they can go up per year, but eventually they are going to give you a much higher finance charge and interest paid over the length of the loan. \n\nA low fixed rate is preferable if you plan to make payments for the lenght of the 15 or 30 year loan and don't want to pay a lot of interest ;)
1139656
620 is the conforming line in mortgages for a Good rate'=.\n450-619 is the sub-prime market and they charge you higher% rates\nabove 620 you can get certain concessions starting at 660\nthen more at 700-720\nIn the sub-prime market you will not get 100% financing until your score is at 580 or greater. below 580 you get only partial financing\nfrom 450 to 520 about 65 -70% \n521-550  About 85% \n551-575 about 90-95%\nactually any thing below 500 will disqualify you from most lenders. very few will do sub 500 scores at all.\nHope this helps\nI am a mortgage banker and I finance the homes realtors think they know every thing!
742759
You can still get 100% mortgage. Northern Rock will even lend up to 125%.\n\nSome lenders will charge a higher interest rate on 100% mortgages. Some antiquated providers may charge a Mortgage Indemity Guarantee fee (MIG) which is a four figure sum which insures the lender (not yourself) in the event of repossession proceedings. If your proposed lender charges MIG, then look elsewhere.\n\nIf you are getting 100% mortgage because you don't have a deposit, you might encounter a problem exchanging contracts on a new place. This is because exchange of contracts usually requires a 10% deposit, and your mortgage won't be advanced until completion (which means you can't use the mortgage to fund the deposit). You will either have to:\n\n1. Get a bridging or short term loan. \n2. Get your solicitor to ask the vendors solicitor whether they'll accept a lesser deposit.\n3. Purchase indemnity cover which insures the 10% - I think its called a "Guaranteed deposit bond" but your solicitor will know for sure.\n\nIf you see a house you like, the first thing to do would be to get a mortgage decision in principle (DIP). This is basically the lender doing a credit check on you and saying "we are prepared to lend you up to x amount on a property which fulfils our criteria". The DIP can be obtained in a matter of minutes. The full mortgage application (i.e. on the actual property itself) takes weeks.
332595
If you go with your existing Mortgage Company, they know you and know you are not shopping, so the price will be higher.  You may have the right circumstances to buy a special type of mortgage, to save you money monthly (WHICH IS MOST IMPORTANT), so you should have a knowledgeable Broker and a bank that specializes in that type. Or your situation has changed or is better, so you want to study the market and shop.\nDo not worry a lot about one time payments like settlement or closing costs, or other costs as they are only one time payments and you do not pay these monthly.  I am not saying ignor other costs, DO NOT ACCEPT GARBAGE COSTS, but if you have a good broker, pay for his work.  If you save any percentage on the rate, it translates to monthly savings for the mortgage term, usually 15 or 30 years.\nThere is always a bank who will want your business to increase theirs and will give you a slightly better rate or conditions, than the others.  The TRICK is you have to find that Bank.  So you go to a good, straight mortgage broker to shop the market for you and see what happens.  If you feel the broker is not doing a good job, get another who WILL shop for you.\nThere are some companies, and not just the brokers, I would not touch with your pole.  They lie about the way they do business, so they can lie about anything.  Check Newspaper stories over the NET in the area of your house back for 2 years, when you have a short list of banks, so you make no mistakes.\nYou are right, rates are fixed by banks and some banks fix higher requirements than others.  It is complicated and that is why Banks have Actuaries.  But your credit score will help determine your rate (which if you think about it is sensible), the higher your score the lower the risk a bank faces in loaning you money.   There is always someone who wants to do business and it does not cost you anything more than time, so look around.   And there are companies who specialize in cleaning up your credit so your score is at it's highest.  One such company I would recommend, who as far as I know is the cheapest of them all, is Ideal Credit Score at 718-502-8800.
678196
Try this one (I cannot vouch for them...I found them online):\nBecome A Mortgage Broker  \nLearn the business from an industry insider. Start your career now. Unlimited income and freedom are within your grasp. \nwww.mortgagebrokertraining.com
421325
This is a little known mortgage option, cause there's unknowns.  The index that the interest rate is following is hard to look up.  I would not take this mortgage.  A fixed 15 or 30 year is better.  If you need to take on an adjustible, try a hybrid 5/1 interest only.\n\nhttp://www.bankrate.com/brm/news/Drdon/20050916a1.asp
969437
maximum is usually 3.25 x joint salary although abbey have recently introduced 5 x. You will need to provide payslips/P60 as evidence of earnings. In theory you should be able to borrow anywhere between £94250 and £145000.\n\nYou could also do a self certified mortgage, where you simply tell them how much you want, and that you can afford it, no need to prove earnings that way, but don't be tempted to push things to far past the normal limits.\n\nYou will need a deposit as well, 10% is considered about normal, any less and you will end up paying an indemnity premium on top of the mortgage.\n\nTake a walk down to your bank and have an informal chat with them \n\nRemember your house is at risk if you do not keep up payments on a mortgage or other secured loans
478687
The one that will give you one at the terms that are the most favorable for you at the time you borrow the money.\n\nThere are a lot of lenders out there. They all constantly change the rules - mostly to suit them, not the borrower.\n\nSo, know what it is you need in a HELOC, and ask for it - if they don't have it - it either doesn't exist, OR that place doesn't do it.\n\nFor example: Loan with no early prepayment penalties, no set up fees, no yearly fees, competitive rates, fast closing, and courteous knowledgeable employees, and is convenient.\n\nWhen I looked for a HELOC - it needed to be one of the cheapest, and also hassle free. A lot of banks will compete - just tell them you are considering other institutions.\n\nI've had one of these - so I know these things (above)exist.\n\nI have a link to the mortgage professor on my website - you may want to take a look. There is also a link to bankrate - which shows a number of institutions - but not all. Try local, then consider ELOAN.\n\nGood Luck!
1119475
Call a locator.  They know all the tricks.  Look for an Arcstone Management company.  They are easy to qualify for as long as you have clean criminal background.  If you credit is really bad they will ask for an extra deposit.
363028
I would have to say mortgage brokers. Mortgage brokers have a choice in many mortgage companies and a lot of them offer special deals for loans due to the competition whereas banks usually offer just a few types of loans.\n\nOne of the biggest mistakes that homeowners make is not researching and checking around before deciding on a loan. I would go to several banks and mortgage brokers and tell them what I need, then compare the loans offered. (Be sure to get a copy of the credit report if a bank pulls one. Multiple inquiries into your credit can make your credit lower.)\n\nBefore you go to a bank or mortgage broker though, research types of loans and the current interest rate for that day. Interest rates change alot and its important info to know. Do you want a 30 yr fixed or 15 fixed? This can also effect the interest rate you get. Since you have a good credit score, you should be able to get a pretty good interest rate. Also ask about special programs or promotions. Some mortgage companies offer special promotions such as lower closing costs and etc.. Don't forget to ask the fees that banks and mortgage brokers tack onto your loan. Paper fees and etc can be waived if you make a big fuss over it.
784508
Are the lates on the mortgage?  If so, the 60-day is what is killing the 85%.  Unfortunately, I don't know of any lenders that would be willing to do that LTV either.  Have you tried hard money lenders?