It is safe if you are doing it from a legit website. Make sure there is the license number right on the website. Make sure that the page where mortgage application is locates is Secured with SSL security key.

You cant work as a Mortgage Agent or a Mortgage Broker without a licence in Canada. Make sure there is a 5 digit licence number with the companys name somewhere on the site. You can then check with The Financial Services Commission of Ontario, FSCO for short, to check if they are licensed to act as a Mortgage Brokerage.

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I found my dream house selling for 601,500$ and i have managed to save 1500 over the last 2 years. my credit score is very good. i think its 610. and if they want, i can also show that i get a 300$ annual bonus. will someone approve me?

god no. 20 years of payments without interest would be $31k a year.

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My wife credit score is 647 with not one negative thing one her report , my crdits score is a little lower at 622, our combined income is 3800 a month , after we put the 10% down we still will have 20,000 saved in the bank, we both have car payments that both equal 600 dollars a month with no other depth, what kind of income on our w2 forms do we need to qualify for this townhouse. the taxes on the town house are 3500 a year maybe a lttle less the insurance on the townhouse is 1000 a year and the hoa fees are about 100 a month , is any mortgage person out there able to help us get approved , please feel free to email me your contact info so we can speak some more , duffytahoeatyahoodotcom

First, you should put 20% down so you will not have to pay Private Mortgage Insurance, and you will qualify for a better interest rate. Second, why are you sitting on $20K in the bank when you have car debt? Surely you have no credit card debt, right? You definitely make enough to afford this home, but put 20% down! Then, work hard to get those cars paid off and stay out of other debt. Debt keeps people from building wealth, and once you get out of it you will be amazed how much money you have to spend and invest. If you haven't read Dave Ramsey's book, Total Money Makeover, please read it soon. Check the library.

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I can get a 15 year fixed mortgage for around 4%, my current rate is 5.785%. i now pay $2,000/mo which includes a $550/mo real estate tax escrow. if i refi. to the 15 year mortgage my total mortgage with escrow will be approx $2,300/mo. i am about to pay off my only car loan which is $300/mo so i can comfortablely afford $2,300/mo. but i won't have as much to save for my 2 kids (7 mos. and 21 mos.) for college. i could refi. at around 4.25% for a 30 year loan which would make my monthly pmt $1,700 with escrow. so should i try to pay my house off asap so i don't have a mortgage by the time they go to college, or do a 30 year fixed, and save that extra $600/mo for the education? i figured i could invest in a 503b or something with that money. unless there are better options to invest/grow/save for their college education. i am 37 now, so if i pay off my house with a 15 year loan i will be 52. i can still save some money for college for them every month with a 15 year loan, $100-$200/mo, but not $500-$600/mo i could do with a 30 yr fixed. thanks. i am 5 years into my 30 year fixed mortgage. the refi will cost $3,000 according to my mortgage guy i can tack on to the loan, or pay it up front, but i'll most likely just tack it on. please don't spam me with lenders. i am all set there, will ignore you, and report your spam as abuse. thanks.

You are much better off with a shorter term mortgage, and save as much as you can. You will have saved tens of thousands in interest you would have paid on a 30 year over that extra 15 years.

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Consider a $600,000 mortgage at 8%. how much would you save by the end of the loan by paying it over 20 years as opposed to 30 years?

380457.78

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Im buying a property, its selling for 200,000 i am putting 10% down, what mortgage are we able to get , my wife credit score is 647 with not one negative thing one her report , my crdits score is a little lower at 622, our combined income is 3800 a month , after we put the 10% down we still will have 20,000 saved in the bank, we both have car payments that both equal 600 dollars a month , what kind of income on our w2 forms do we need to qualify for this townhouse. the taxes on the town house are 3500 a year maybe a lttle less the insurance on the townhouse is 1000 a month and the hoa fees are about 100 a month , is any mortgage person out there able to help us get approved , please feel free to email me your contact info so we can speak some more johnmat1973atyahoodotcom

offer the seller to do owner financing with no money down, then that way you will have 20k to fix it up with

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Quick snapshot of our situation... we are looking to purchase our first home next year when our current home lease expires around may. she has excellent credit (+750 fico) and i have been building my credit (high 600's now, no baddies but not a thick file). she will be 30 and i will be 26 when we apply. i have a good paying job and will have held it for 2 1/2 year when we apply, she will be fresh out of graduate school with her master's with little experience in the professional world. we will have

It doesn't matter if your married or not. Me and my bf are buying a house too ( we're in escrow) we're not married and were doing an FHA loan cause it's only 3 % down but after December it's going to be 5 % down. So it really does't matter if you guys are not married you can always just add her on the title of the loan. If the loan is going to be in your name only their only going to look at all YOUR loans and any loans if you co-signed any and see where you stand from there.

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With the current economic situation, here is one way to resolve the issue. what is your opinion or way to save the economy? first off, $700 billion bailout from the government? ouch by saving the real estate market, it will help the entire economy get back on track. home owners bought outside their means, didn't understand what they were agreeing to, or took out equity at the peak of the market. now these individuals have lost their homes, or are in foreclosure. banks/lenders can't sell these homes and are sitting empty. ex-home owners have had to move in with family and friends, rent, and in some cases become homeless. my solution home owners that are unable to pay their mortgage, should be allowed to have their home value reassessed and be given a lower fixed apr. that being said, the difference between the current value of the home, and what is currently owed on the home will need to be repaid upon the home being sold. in addition, once the home is sold, any amount over what is owed, will be split 50/50 between the home owner and the government. the home owner would not be able to sell their home for 5 years, unless the home can be sold for at least what is owed (mortgage & gov). example -home owners have a mortgage for $400,000 -house is assessed at $200,000 -new house payment 1/2 as much -15 years later the house is sold for $600,000 home owner pays off what is remaining from mortgage. repays $200,000 that the government paid, and splits the remaining $200,000 50/50 with the government. this will drastically cut the foreclosures, and save the us economy, especially the real estate market. when homes are sold in the future the government will get its money back, and profit from all homes sold under that program well into the future. stephanie c its not that home owners are not wanting to pay anything. home owners are overwhelmed with their payment for various reasons, adj apr, job loss, etc.... if a home owner has a $4,000 payment, and can only afford half that amount, why pay half, if you are going to lose the home anyway. that being said, if a government subsidy made the mortgage payment within the home owners budget, the home owner would be more inclined to stay. the government would regain the money invested when the home is sold. as stated the home owner would not be able to sell their home for 5 years. that limits the amount of new homes on the market, and would allow time for the current market to clear out and prices to adjust.

McCain should have nominated your for VP. Better yet. You should be in the running instead of McCain/Palin.

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With the current economic situation, here is one way to resolve the issue. what is your opinion or way to save the economy? first off, $700 billion bailout from the government? ouch by saving the real estate market, it will help the entire economy get back on track. home owners bought outside their means, didn't understand what they were agreeing to, or took out equity at the peak of the market. now these individuals have lost their homes, or are in foreclosure. banks/lenders can't sell these homes and are sitting empty. ex-home owners have had to move in with family and friends, rent, and in some cases become homeless. my solution home owners that are unable to pay their mortgage, should be allowed to have their home value reassessed and be given a lower fixed apr. that being said, the difference between the current value of the home, and what is currently owed on the home will need to be repaid upon the home being sold. in addition, once the home is sold, any amount over what is owed, will be split 50/50 between the home owner and the government. the home owner would not be able to sell their home for 5 years, unless the home can be sold for at least what is owed (mortgage & gov). example -home owners have a mortgage for $400,000 -house is assessed at $200,000 -new house payment 1/2 as much -15 years later the house is sold for $600,000 home owner pays off what is remaining from mortgage. repays $200,000 that the government paid, and splits the remaining $200,000 50/50 with the government. this will drastically cut the foreclosures, and save the us economy, especially the real estate market. when homes are sold in the future the government will get its money back, and profit from all homes sold under that program well into the future. my first draft had interest included in the repayment of what the government covered. as far as living within ones means, i agree completely. however, with the current situation, its about limiting the houses reaching foreclosure, and keeping home owners in homes. my plan is not about forgetting about what a person owes, it is about making the payment within their means so they do not go into foreclosure. also by the home owner having to repay what the government subsidized (w/wo interest), and splitting any profit from selling their home, it is not only removing a huge profit from a government program to a home owner, but also giving additional income back into the government.

I'm surprised the President and Congress didn't think of this before. It is amazing how flexible they were in lending practices. But when people were facing foreclosures, the banks were inflexible in renegotiating their fees and interest rates. Banks were greedy and still are greedy. What government needs is to force these banks to take responsibility. It would be slow going. But we really need to get these people back in their homes or in reasonable price homes. Contact these people and find a payment they can handle offer a home in there affordable range. Make a deal. The majority of these foreclosures happen not because people lost their jobs but because the loan amount adjusted to an unaffordable number. We do need stabilization but not a full scale bail-out (sending a check). Government does not need to take whole companies over but lay out a plan to help them get back on their feet. I do believe in some level of private funding for this bailout. Sell secured bonds (fixed interest) to the public guaranteed by the federal government with the expressed plan to use this money to make banks and insurance comply with a strict guideline to resolve this crisis. This would help restore confidence in the system without having tax-payers foot the whole bill. This would not supply the full amount needed, but would help and force the banks to take care of their own mistakes. Recession are a normal part of the business cycle, this bail-out will not eliminate a recession. But I think the governement is going over-board with this bail-out Americans are tough-going people. if they see a light at the end of the tunnel, they will weather this storm.

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Hello, i'm 22 and have £21,600 saved up and am trying very hard to save up for a deposit on a house one day but have no hope of getting a mortgage as my salary is only £15,000 so £15,000 x 3.5 is only £52,000. i'll be honest and admit i have been saving well recently as literally all my income is going straight into the bank and my only outgoings are my rent to my parents (frugal is the word i think!) i hope i can hit £30,000 by the end of the year. anyway what is the best thing to do with the money to get a high return, like interest in bank accounts, premium bonds etc. i have always come from a poor background so this money is vital for me and my future, so i don't want to make any mistakes in ivestments etc. anyway can anyone give me some sound advice, thanks i live in england by the way.

As someone else said, CONGRATULATIONS for achieving this, you will go far in life of that I have little doubt. Firstly get your maximum ISA allowances, then some premium bonds (currently making better than deposit accounts) If you have the time there are some amazing bargains to be had right now, I have been purchasing 'things' both new and second hand that WILL be wanted again in two years time, buying now for next to nothing at auction or private enquiries is ideal; strangely something I bought 2 weeks ago for £1,000 ) collective new price £17,000 and only one year old; £1,000 was asked and this is then what I paid. 2 weeks later I had a call from a friend who had a friend who desperately needed what I had just purchased, I suggested £5,000 and he was absolutely over the moon and didn't try to knock me down, hence an excellent margin for a short investment. Long investments are worth it right now as interest rates are as low as likely so it is not as if you are loosing. Try to turn left when everyone else is turning right and be dedicated (clearly you have this far) and keep it quiet that you have this money. Lots more but I'll leave others to offer suggestions, that way you will get a balanced view bar the spam responses. Curtis

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Do you think i can afford this house? my husband and i want to purchase this house. it is $60,000. we will put down 20% ($12,000) and get a 15 yr mortgage, at max 4.8%. the payments will be $375 a month, and $200 in property taxes. ($575 total). the seller will pay 4% towards closing costs ($2,400). we have been approved for a $100,000 mortgage. my husband makes $2,600 a month after taxes ( up to $3,100 w/ overtime) and i make $700 a month, but take out $500 to save up for the upcoming semester of school. after, we have $2,800 monthly income. we have about $8,000 in investments, and $20,000 saved up for the purchase of this house. upon purchase we will get a check mailed to us for $6,000, thanks to the first-time home buyer tax credit! we will need to pay utilities, home related insurances, $250 a month for cell bill, and car insurance, and a couple small expenses. i have $3,000 in student loans that i won't need to pay in for at least 2 years. ( i may not end up paying, as my parents generously suggested they might may as grad gift) and he has $1,000 in credit card debt currently, that he is paying off asap (car repair last month) we don't typically use credit cards for everyday purchases. the house doesn't appear to need any major repairs, we will however, get it inspected. the kitchen is outdated, but that can wait. can we afford this home? also, we are just starting out. we don't have furniture and don't expect to buy a houseful at once. but, how much do you think we will be able to spend for furniture and cosmetic updates, if any? thank you for reading this, and for your advice!

Statistically, if you make at least three times the amount of the monthly payment, you should be able to afford the house. As a Realtor in Florida, I would tell you to buy now while the prices are low. Work on getting furniture later, save small amounts a month for this. Hope it works out! Congrats!