I’m almost 47 years old, a single mom, and looking to purchase my first house. I’m wondering whether I’ll be able to get a twenty-year mortgage because of my age, or should I try to find a 15-year mortgage? I’ll be a first-time buyer, does this make a difference? Thanks for any help or advice [...]

NOT ACCORDING TO MOST LENDERS AS THEN YOU WOULD BE 100% FINANCED AND HAVE NOTHING TO LOSE BY DEFAULTING ON THE LOANS addthis_url = ‘http%3A%2F%2Fwww.selviceevler.com%2Ffirst-home-mortgage%2Fcan-i-use-the-80-first-mortgage-to-buy-a-home-and-20-second-mortgage-as-downpayment-in-ontario’; addthis_title = ‘Can+I+use+the+80%25+first+mortgage+to+buy+a+home+and+20%25+second+mortgage+as+downpayment+in+Ontario%3F’; addthis_pub = ”;

If you have good credit it will give you a good rate. The irony is that the less you can afford the high interest rate the higher you get charged. Doesn’t seem right? But it is about the risk that the lender takes in lending the money. What’s the chance that you will be late, [...]

Hi, I’m putting more than 20% down payment on a home purchase. Is mortgage insurance required no matter how large of a down payment is placed. This is a first time home loan. Thanks!!! My broker claims that I have to buy mortgage insurance even though I’m putting more than 20% down because its a [...]

I’m 20 and my boyfriend is 24 and we are living in an apartment and will be for at least another year. I was just wondering what the average age is for people to make the down payment and get their first mortgage on a home? We aren’t going to have kids so we won’t [...]

I have a credit score of 680 is that good for getting my first home? If I have the score of 680, would that be good for a lender to get me mortgage? if so please give me examples of lenders specifically in Rhode Island or those who deal with all the states. 680 is [...]

Maybe. You would have to refinance you existing mortage, then pay off you HELOC. Unless you can get a loan with NO closing costs at the same or lesser interest rate, ti doesn’t make sense. It might take you 10 years to break even. Since you can use the interest from both loans as a [...]

We just bought a new home and closed in the middle of the month. The first mortgage payment begins not on the 1st of the immediate next month but the month AFTER. This seems always be the case with the three homes we’ve purchased. Why is it structured this way? I’m not complaining — just [...]

I’ve been preaproved for 300,000 to purchase a house, but i really want to build my own. I know that i can do it for less than that! The problem is that lenders don’t usually aprove constraction loans for first time homes. Any ideas? This is possible. What state do you live in? I work [...]

Will the second mortgage holders come after you or be able to put something (other than a foreclosure) on your credit like a judgement? Would they be ale to garnish wages or do anything crazy like that in the future? The reason for two loans was a first and second (100% loan) was used to [...]