Is recession nearby ?

[DetroitPistons]

Trade War

You can now buy house with 3% down payment

Oil prices are on rise

grapevine tells me that recession is going to come early 2019..

Remember Cash is King.. Save as much as you can

 

 

[kevinUsa]

Just now, DetroitPistons said:

Trade War

You can now buy house with 3% down payment

Oil prices are on rise

grapevine tells me that recession is going to come early 2019..

Remember Cash is King.. Save as much as you can

 

 

6

car  with 0$$  down 

 

[Amrita]

1 minute ago, DetroitPistons said:

Trade War

You can now buy house with 3% down payment

Oil prices are on rise

grapevine tells me that recession is going to come early 2019..

Remember Cash is King.. Save as much as you can

 

 

Ekkada man with 3% down ? Ippude konta. 

[Pipucbn]

2 minutes ago, Amrita said:

Ekkada man with 3% down ? Ippude konta. 

I think he meant for First time Home owners 3.5% down.

[Pipucbn]

If trade wars continue ...its going to create a global economic impact, in a negative way ofcourse.

its not about recession in US, but the world as a whole would suffer. Everyone is trying to stay afloat and move a head in the economy.

US is so late to realize that China is more important to the world than them, things seems to have gone out of control that it’s tough for them to control the world like before.

[Amrita]

4 minutes ago, Pipucbn said:

I think he meant for First time Home owners 3.5% down.

I don't know who gets really qualified for real. 10 % down takkuva konna vallu na circle lo i don't know. I am also looking from 6 months. i want to wait till  end of year so that i can have more savings before i enter into that big investment and responsibility.

[Pipucbn]

2 minutes ago, Amrita said:

I don't know who gets really qualified for real. 10 % down takkuva konna vallu na circle lo i don't know. 

FHA loan ani google cheyyi you will get more details. My friends got for 5% down as well, not a tough thing.

you need to pay extra loan amount over 30 years.

mana vallu is not a Big thing in US housing economy, though because of us the rates are increasing. Mana vallu 3-5 mill untaru where are the citizens here will be 30-50 mill. So anyone with 3.5% and low credit score can easily avail the home loan

[Kumaravarma]

2 hours ago, Android_Halwa said:

recession like the one we had, we will never get to see again...

Banks now adhere to strict stress tests, CCAR and DFAST regulations in USA and Basel standards across the world which will identify crisis much earlier than it would happen and cut the demand and forecast

If someone says that recession is near by, hit them hard or slap yourself...

@Android_Halwa please ra appu ra nee words ki limit lekunda poindi.

Stress tests, CCAR and DFAST antunav do you have any idea what you are talking about. Knowledge less pandi fellow 

[Amrita]

6 minutes ago, Pipucbn said:

FHA loan ani google cheyyi you will get more details. My friends got for 5% down as well, not a tough thing.

you need to pay extra loan amount over 30 years.

mana vallu is not a Big thing in US housing economy, though because of us the rates are increasing. Mana vallu 3-5 mill untaru where are the citizens here will be 30-50 mill. So anyone with 3.5% and low credit score can easily avail the home loan

FHA Loan Requirements

For borrowers interested in buying a home with an FHA loan with the low down payment amount of 3.5%, applicants must have a minimum FICO score of 580 to qualify. However, having a credit score that’s lower than 580 doesn’t necessarily exclude you from FHA loan eligibility. You just need to have a minimum down payment of 10%.

The credit score and down payment amounts are just two of the requirements of FHA loans. Here’s a complete list of FHA loan requirements, which are set by the Federal Housing Authority:

• Borrowers must have a steady employment history or worked for the same employer for the past two years.
• Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
• Borrowers must pay a minimum down payment of 3.5 percent. The money can be gifted by a family member.
• New FHA loans are only available for primary residence occupancy.
• Borrowers must have a property appraisal from a FHA-approved appraiser.
• Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
• Borrowers’ back-end ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
• Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
• Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. FHA-qualified lenders will use a case-by-case basis to determine an applicants’ credit worthiness.
• Typically borrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made if you are out of bankruptcy for more than one year if there were extenuating circumstances beyond your control that caused the bankruptcy and you’ve managed your money in a responsible manner.
• Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
• The property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).

 

E case lo kuda 10% tappatledu kada man? 

[Unityunity]

Why you(H1) are looking for houses .. So inconsistency in our jobs, Project change, immigration issue, FT also no guarantee... . on what basis you are looking for house.. if time comes to go back to India .. what is your alternate options.. please can you share your views

[Kumaravarma]

Just now, Unityunity said:

Why you(H1) are looking for houses .. So inconsistency in our job, Project change, immigration issue, FT also no guarantee... . on what basis you are looking for house.. if time comes to go back to India .. what is your alternate options.. please can you share your views

Maaku avvani telidu Bhai . maa frnd konnadu neenu konna house

[Amrita]

3 minutes ago, Unityunity said:

Why you(H1) are looking for houses .. So inconsistency in our jobs, Project change, immigration issue, FT also no guarantee... . on what basis you are looking for house.. if time comes to go back to India .. what is your alternate options.. please can you share your views

I am looking in a place where i might have to pay extra 400-600$ if rent the place for EMI. Even if i leave the country thats possible for me to afford. Have family to take care of rest.  

[Pipucbn]

1 minute ago, Amrita said:

FHA Loan Requirements

For borrowers interested in buying a home with an FHA loan with the low down payment amount of 3.5%, applicants must have a minimum FICO score of 580 to qualify. However, having a credit score that’s lower than 580 doesn’t necessarily exclude you from FHA loan eligibility. You just need to have a minimum down payment of 10%.

The credit score and down payment amounts are just two of the requirements of FHA loans. Here’s a complete list of FHA loan requirements, which are set by the Federal Housing Authority:

• Borrowers must have a steady employment history or worked for the same employer for the past two years.
• Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
• Borrowers must pay a minimum down payment of 3.5 percent. The money can be gifted by a family member.
• New FHA loans are only available for primary residence occupancy.
• Borrowers must have a property appraisal from a FHA-approved appraiser.
• Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
• Borrowers’ back-end ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
• Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
• Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent. FHA-qualified lenders will use a case-by-case basis to determine an applicants’ credit worthiness.
• Typically borrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made if you are out of bankruptcy for more than one year if there were extenuating circumstances beyond your control that caused the bankruptcy and you’ve managed your money in a responsible manner.
• Typically borrowers must be three years out of foreclosure and have re-established good credit. Exceptions can be made if there were extenuating circumstances and you’ve improved your credit. If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three-year foreclosure guideline.
• The property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).

 

E case lo kuda 10% tappatledu kada man? 

If your score is <580 unte 10% kavali 580 and above unte 3.5% is enough ani meaning.

[tennisluvr]

I'm looking to buy a house in Seattle or Austin..mostly Seattle 

[Pipucbn]

1 minute ago, tennisluvr said:

I'm looking to buy a house in Seattle or Austin..mostly Seattle 

Uncle you moving to Seattle?