• Home
• About
• Site Map

« My wife brought house while we were engaged, Do I still qualify as 1st time buyer.and 8k tax credit? | i am working with a mortgage broker and he just emailed me? »

How long is a mortgage loan approval lettter good for?

Posted by Real Estate Investor on Apr 30 | Real Estate Investing Chatter

, more 

and How do I write this letter to my housing association for permission to do a mutual exchange??please help me!!!?  Ten points for the best answer!!
Need to write a letter to my housing association for permission to do a mutual exchange and I have no idea whatsoever what to write in the letter and how to write it out,please help me out here,many thanks.xx., more 

and How much funds required before getting preapproved for mortgage? Not the actual loan, but buying power?  How much money do you estimate a lender requires you to have immediately to issue a pre-approval letter assuming you’re looking at a 30-year fixed rate conventional loan for around $130,000 with 5% down (These are, of course, estimates)? I ask because my wife and I would like to start looking at houses with a realtor as soon as possible, but realtors generally don’t want to or won’t work with you unless you’ve been pre-approved. My wife and I have a decent amount of money saved, a steady work history, good incomes, and excellent credit scores, so I’m not really worried about that aspect. However we are probably short just a little bit of the amount needed for a down payment and closing costs. The frustrating part is that by the time we find a house and close, we will have more than enough, so I suppose my question is this:
Will lenders tell us we have to wait another month(ish) to get pre-approved or will they look at what we’ve been able to save for the past few months and agree that by the time we find a house, we’ll have more than enough money. Again, this is not for the actual loan. We haven’t found anything yet. We just want to be able to seriously look.
Please only advice from lenders and people that have dealt with this type of situation…and please, please, please, no “If you are planning on getting a house, make sure it’s only 25% percent of your take home pay, 3-6 months living expenses, ….” I agree with you, but it has nothing to do with my question. Thanks., more 

I'm 18 years old. I want to rent an apartment in Vancouver Canada. Do I have the right to sign the contract ?  , more 

and If paying more than monthly payment would it be better to apply it to the principal or escrow?  , more 

Tags: repossessed, real estate, bank owned, homes