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Alvin Said:I don't know if I should stay with him?
We Answered:you definetly need to have a serious conversation with this man....you may love him....but love dont pay the bills. Marriage needs contribution from both members.....in all area's.....including financial. It sounds as if he is pinning all his hopes on this one dream.....but living that dream for you is a nightmare financially and importantly enough is creating a split between you that could be the ruin of your lives together.....and leave you with an empty wallet for some years to come. Yes.....he could hit the big time......and make some serious money.....but it sounds as though if he hasnt made it by now....he probably wont. Some people buy lotto tickets every week.....and never win the big one.....sounds like this may happen to him....even though he works hard....he isnt thinking about it logically.....and its taking its toll on you and your relationship....wake up girl....you are thinking about ending it....its time for either (or both) some marriage counselling and business planner to look at just what your husband is doing wrong Good luck : )
Theodore Said:lenders or loan officers- please help!!!?
We Answered:There is no way one can give you a accurate rate or amount of house you are qualified to purchase without running a credit check.
By you stating you have an excellent credit report and very good credit scores is not proof. The only proof is to actually run your credit report and have it in front of the mortgage broker or lender.
A pre-qualification is not accurate as the information you provide is not verified. You will be able to get limited information about the interest rate, the amount of property you are about to purchase and perhaps discuss a few of the mortgage progams you would be qualified for.
A pre-approval is the best way to go as there will be a credit report ran, income is verified and your mortgage application is approved by a lender that will actually make a mortgage for you.
There are many mortagage programs that might be available to you.Please don't lock yourself into one or two particular loans. You should have your mortgage broker discuss and explain each and every mortgage loan you are qualified for.
Then and only then are you able to make an intelligent decision based on your financial situation at the time.
Even if you are able to get information about the interest rate and other things about a possible mortgage things change. Programs change and the interest rate will definately change as interest rates change daily.
If an 80/20 or an 80/10/10 fit your bill and is still available when you are prepared to purchase your home then go for it, but make sure you understand each mortgage program you are qualified for.
About 60-90 days before you decide to purchase your home, see a mortgage broker and get pre-approved for a mortgage loan. This pre-approval will give you the exact mortgage programs you are qualified for to include the interest, amortization, the amount of house you are able to purchase.
I hope this has been of some use to you, good luck.
Jimmy Said:my boyfriend of over 5 yrs still lies to me?
We Answered:Separate yourself from him financially, ASAP. If your heart can't let go, at least get your wallet out of the mix,because there's no reason to think he's going to manage his money better or be truthful about it.
I'm absolutely serious when I say I recommend selling the house and splitting the proceeds. His irresponsibility could saddle you with the entire debt remaining on it. You'd be much, much better off in an apartment with your money intact.
Don't start a family with a man who 1) lies to you, has always lied to you, and will continue to lie to you, or 2) is irresponsible about money. It's a toss up which one will trigger the separation, but there's no point messing up a child's life in the process.