Know More About FHA Lender [mortgage-assumption.blogspot.com]
Question by Good Guy: Why does our government allow FHA lenders to deny virtually all those on SSI ? Why does our government allow FHA lenders to debt virtually all those on SSI ? Doesnt matter if you have thousand down for a down payment you still get denied. 2 minutes ago - 4 days left to answer. Additional Details You cant even get into Detroit where you pay 3 grand down and pay 20 bucks a month ,they aint leaving the poor nothing all the good stuff will be solf to the capitialist hell the poor man has nothing out here and is sometimes better dead there isnt **** our here. Best answer for Why does our government allow FHA lenders to deny virtually all those on SSI ?:
Answer by Lori O
FHA means the government backs the loan. However, if you were to default, the mortgage company would still have to cover the costs for all the legal fees. Because of this, they are still pretty picky. Different lenders will have different requirements. You have 45 days from an original loan application to have others and only ding your credit once. Try applying elsewhere.
Answer by StephenWeinstein
They deny anyone who has only $ 1000 for a downpayment. They are not discriminating against those on SSI. Everyone, whether on SSI or not, needs a much large downpayment to get any home loan.
Answer by the tax lady
Oh C'Mon, SSI means you are broke. Why would anyone loan to a broke person. A house is not just the mortgage payment. It's also utlities, maintenance, proprty taxes and insurance. Despite all appearances, the government isn't required to buy you a house.
Instant results, to get 6 or more bidding lenders use the links below: all loans: www.lendinguniverse.com Commercial loans at; http Hard money loans at: www.lendinguniverse.com Land Loans at: lendinguniverse.com Ranch and Farm at: lendinguniverse.com Constraction loans at: lendinguniverse.com Logged in for any possible other real estate loan. Social Security is not required. You will post a short request, not a loan application, and it will be reviewed by top lenders- you will decide.
mortgage-assumption.blogspot.com Commercial mortgage loans, Hard Money or FHA- Lenders bidding you decide
The FHA lender assist those individuals who have low income to purchase homes, apartments or rental properties. FHA stands for Federal Housing Administration. This type of loan is considered very risky for lenders because the borrowers do not have often have a collateral. In order to become one of the lending institution of such loans, the organization first needs to download a copy of the application and then get it approved by the respective authority. If you are planning to become such lenders, there are some points which you have to keep in mind.
When you decide on becoming a FHA lender, first decide on which category you wish to fall under. Since there are several type of lenders, you can choose a category on your preference. Some of them are non-supervised mortgage, non-supervised loan correspondent, supervised mortgage, supervised loan correspondent, investing mortgage and government mortgage.
Everyone dreams of purchasing a home of their own at some point in their life. But, if you are facing some financial issues, it may be very difficulty for you to fulfill this dream. In these situations, it is best if you opt for FHA loans. These loans are applicable for those individuals who want to purchase a home but are short on finance. If you are planning to sign up for this loan, you have to visit a FHA lender.
The best place to search for a FHA lender is via internet. Apart from these, the Florida hard money loans are also quite popular among individuals who are planning to set-up a business or expand an existing one. This scheme is very popular among the citizens of Florida because it takes less time to get approved unlike traditional bank loans. Before you apply for this loan, remember that it is collateral based. This means that your property will be serve as a guarantee for the borrowed amount.
The most significant feature of the Florida hard money loan is it does not take a long time to get the application sanctioned. If you have applied to the traditional lending institutions for loans, you may have to wait a long time to get it approved. Also, you will be required to go through some procedures for verification. If an individual is in dire need of funds then the Florida hard money loan will be best option. This is because your application for the loan will be approved within a few days and the Florida hard money lenders are only interested in the collateral.
There are several types of Florida hard money schemes. One of the most common is the reverse mortgage scheme. This is popular among senior citizens who are facing financial difficulty in their old age. The best feature of this Florida hard money plan is it allows them to continue living in their property as long a they live. Once the borrower is deceased, the property is sold to get the borrowed amount. Suggest Know More About FHA Lender Articles
