Home Buyers Alert

US Homeownership Aspirations Aren't Dead: Owning a Home Remains a Defining ... - Stockhouse May 21, 2012
US Homeownership Aspirations Aren't Dead: Owning a Home Remains a Defining ...StockhouseOverall, more than half of consumers polled say homeownership is a vital component to defining the American Dream and 59 percent associated feelings of excitement or pride as part of their first time home buying process. TD Bank surveyed more than 1300 ...and more » […]
Bank growth slows as consumers pinch their pennies - Globe and Mail May 20, 2012
Globe and MailBank growth slows as consumers pinch their penniesGlobe and MailFor more than a decade, consumer loans have fuelled Canadian bank earnings, pushing profits upward as home buyers took out mortgages and consumers extended their lines of credit. But as the banking sector prepares to report second-quarter earnings this ...and more » […]

Aug

07

refinance a mortgage

By MSC

refinance a mortgage
What are my options for refinancing of mortgages?

I was hoping the new government to refinance options that allows you to make 105% or more, but that is beside the point because my loan is not owned by Freddie and Fannie. I can not refinance because I have no standard 80% of the capital of my home. We have never missed payment, etc, etc. We just wanted to take the best rates available now. Any ideas?

If you no longer have 80% equity in your home, conventional refinancing is no longer a viable option for you. However, you may be able to make a refinance FHA's up 96.5% of the loan to value.

refinance a mortgage

What credit score needed to qualify for a FHA mortgage refinancing?

My husband has a 610 and I have a 683. Us 10% of the shares in our house. Our current lender says you need a 620 to qualify for the FHA (but a few months ago when the credit was 577 the lender said I had to be 580). Do they want to play for fools here?

FHA minimum score increased from 580 to 620 required three months ago.

Categories : Canada Mortgage

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Canada-wide Mortgage News

Canadian banks' profits to grow, but at slower rate - Canada.com May 21, 2012
Canadian banks' profits to grow, but at slower rateCanada.comHowever, warnings from the banks also suggested that mortgage lending could drop off this year as consumers focus on reducing debt and mortgage lending softens. Tom Lewandowski, a financial services analyst with Edward Jones in St. Louis, said Canadian ...and more » […]
TEXT-Fitch: Canadian banks' residential mortgage exposure manageable - Reuters May 21, 2012
Trend.azTEXT-Fitch: Canadian banks' residential mortgage exposure manageableReutersLow interest rate levels and a favorable economic environment have fueled the upward trend in Canadian house prices over the past 10 years. Over this time period, house price increases have outpaced income, leading to record levels of household debt.Mortgage risk biggest […]