Tagged Questions
3
votes
1answer
196 views
How do I qualify for a mortgage (refinancing) after I retire and no longer have a paycheck?
I've just retired and wish to refinance my mortgage. However, when I spoke with my bank, they said that since I no longer have a consistent paycheck I dont qualify under their rules for a refinance. ...
2
votes
3answers
132 views
Is it worth trying to find a better minimum down payment for a first time home buyer?
I talked to the mortgage agent at my current bank, and they gave me a pre-approval with a particular interest rate and minimum down payment percentage.
I am happy with the interest rate, but the ...
7
votes
3answers
205 views
Emergency Fund Suggestions - Purchasing Second Home
My wife and I are looking to purchase a home in the near future. With this in mind I am curious about how we should now look at our emergency fund situation. The general guideline you will see is ...
4
votes
1answer
133 views
High Student Debt - Will Mortgage Lenders Take Into Account Repayment Assistance Program?
I am a few years out of professional school, and am starting to think about buying a home. Based on my credit, income, and available down payment, I would be easily eligible for a good-size mortgage. ...
5
votes
2answers
340 views
To buy a house, is a 20% down-payment required for a mortgage?
My wife and I want to buy a house. The price is well within our means. The mortgage payment would be less than 25% of our gross income and we have no other debt, so we're comfortable with the payment.
...
4
votes
3answers
127 views
Average Mortgage Rate vs What I would get
So average mortgage rates are lower and lower. I.e. X-year mortgage rates are 4%.
Lets assume I have a greater than average credit score and credit history, greater than average net worth, greater ...
3
votes
1answer
306 views
Can a mortgage broker issue a mortgage commitment letter?
I have applied for a mortgage from a mortgage broker and he recently gave me a loan commitment letter. But there is no mention of the lender or the underwriter.
I have some doubts regarding this are ...
4
votes
2answers
725 views
How to reduce mortgage rate with low income but high assets
I would like to achieve a lower mortgage interest rate than our current 5.75 percent 30 year fixed mortgage with Chase on our primary residence.
Our situation is a little unusual, making it difficult ...
2
votes
1answer
134 views
What impact does the new mortgage rules have on CMHC policies? [Canada]
With reference to this question, how does this affect the Canadian Home and Mortgage Corporation (CMHC)? This organization made it possible to get a new home with as little as 5% downpayment, ...
2
votes
1answer
445 views
Canada: New mortgage qualification rules, 2010: Why, what, & when in effect?
Earlier today, the Canadian federal Finance Minister Jim Flaherty announced new mortgage qualification rules for Canada.
Why were new rules introduced?
What are the new rules being introduced, vs. ...
