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Hi Folks - I'm scheduled to close on a new construction home 8/30. The kids start school here in MD on 9/3. They enroll in new schools and I want to get them settled as much as possible. That background might come in handy for the scenario that I'm seeking advice on.
Here's the scenario: purchase price is $439,540. I'm currently doing an FHA loan with 3.5% down. My mortgage credit score is 726. The loan estimate has me paying $300 month in PMI. The issue is that in October I get my yearly sales bonus; at that time I can put down the ~$90K needed to cover the 20% down payment to remove PMI. Questions for those experienced in the industry:
1. Should / can I delay closing for two months? If so should I go conventional?
2. Should I move forward with the FHA loan and refinance quickly? How soon can one refinance?
3. Should I move forward with the FHA loan and simply pay $90K on the principal of the loan and reduce the amount to have PMI removed?
Thanks for your help in advance.
Hello my name is David Malan i need quick cash car title loan can anyone please suggest me the lender name and number so can i get the loan.
Currently my fiancee and I are looking to buy a new 2018 Ford Edge. She just payed off her car last month (2011 Kia Rio) and are looking for something more comfortable for trips. We like driving to amusement parks to ride roller coasters. I have a 2005 Rav 4 that is not in the greatest of shape also. Our issue is this. She recently was layed off from her job about a month ago. So is collecting unemployment ($1100 a month) Since she recently payed off her car she only has about 250 dollars a month in bills. So was thinking that it would show that she still has the money to make a new car payment. She's looking for work right now but I've told her and we both agree that she should take her time and not just jump into the first job that has a paycheck and to find something she actually wants and for a good wage. I make plenty for us to live on my own and still be able to save money even if she didn't get unemployment. My problem is I'm at the end of chapter 7 just waiting for my discharge. I've already had my 341 meeting and my assest report has been completed. My discharge was supposed to be last month on the 19th but the trustee filed for an extension and my attorney tells me it's because the other trustee has retired and she took on all her cases so is behind. It's currently supposed to be discharged on the 19th of this month (October).
So do we have any options? Are there any lenders that would give us a loan for a new Ford Edge with her on unemployment? Or if I cosigned with her just for the income even tho I'm in BK7? We have 10% down to put on car and plan on trading her car in as well altho it's not worth much according to KBB (Maybe 2k if were lucky). Her credit scores are in the 600-650s because there is a collection we just found out about for 100 bucks from some medical bloodwork that she had done. Which she had insurance for and was paid by them they said. So were working on getting that off. That was just in september that it went to her report and we knew nothing about it. So being to recent it hit her score hard. Were working on getting that taken off but we've found a great deal on a new Edge (Even tho it's 4 hours away) and were wanting to try to get it. Other then that she had a collection in 2013 for 500 bucks on a credit card.
Like I said she just paid off her last car a month ago and this was her 3rd car payment she has completed with no lates ever on a car payment from all 3 car loans. The issue is her employment. Even tho she gets enough extra on unemployment to cover the car payment (And I'm covering all the payments anyways) Just wodnering what people think is possible if anything.
Are standard down payments required when purchasing with over 20% equity given purchase price is less appraised value (over 20%)? First time buyer as well.
Reading Nerd wallet many Loans require 3% downpayment except Navy Federal.
Thanks for input
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