Income to debt ratio
If you make the application with you as the only borrower , it doesn't matter what your wife's circumstances are , however you will not be able to use her income , if you do that. Thx Kevin - Realty Answers Inc www.realty-answers.com Modify or Restructure you loan www.loanmod-answers.com&...

Prime Interest Rate?
The prime is at a 40 year low, it will only go up rapidly from this point. The question is not if but when..... the prime is the fastest moving of all indexes and is not tied to the Bond rate .... in 1995 era the prime was 16 % plus an can rise several % in a year, email me kevin@realty-answers.com I'll send you a...

What does it mean to subordiante a second mortgage? Can I refi my first and leave the second as is?
Hi , subordination is when the existing 2nd loan agrees to be junior (Subordinate) to a new 1st loan. The advantage is that a new 1st loan at a lower rate , with lower monthly payment, can be put in place leaving the existing 2nd loan "as is", your existing 2nd is left "as is".We would...

I will like to buy my first home using fha. The first home will be a 4-plex. Is this possible?
Yes, you can use an FHA loan to buy a 4 plex. It does make a difference , if the prtoeprties are alraedy under a lease. You will need to live in one unit. You can do over 80 % loan to value, but if you do, there will be private mortgage insurance up to 96.5 % LTV. FHA allows lower credit than conventional loans..... down to...

does it cost anything to refi with another lender??
Hi Kay, this depends on a few items: 1. Does your present loan have a prepayment penalty ?2. If you loan is less than 6 months old, there could be a small service or admin fee.There are no tranfer fees normally with a conventional loan. There are costs escrow and other costs associated with a new loan that can...