Your FREE ACTIVE REAL ESTATE FORECLOSURES FOR SALE IN BIRMINGHAM AL – 03/09/2012 list has been posted.
These are Single Family Homes ‘Active’ on the Birmingham MLS. These homes are ripe for the picking. DO NOT LET THEM PASS YOU BY…ACT NOW….BEFORE IT IS TOO LATE!!!
I hope you have an awesome day, packed with smiles while searching for your active Birmingham AL Real Estate Dream.
For some would-be buyers and refinancers, today’s mortgage rates are the ultimate tease. While ads tout the lowest rates in history (recently under 4% for a 30-year fixed), qualifying for a mortgage that cheap can be an exercise in frustration or futility. Less-than-perfect credit will hurt, of course, but you may also find yourself struggling if your situation is deemed at all unusual . Read on for the best ways to get a deal.
For The Self-Employed, Business may be booming, but don’t expect the bank to take your word for it. If you haven’t run your own shop for at least two years, you probably can’t get a loan. Banks will use the average income on your past two tax returns or the most recent, whichever is lower, when determining the amount you can borrow and the rate on your loan.
Try deferring or forgoing deductions, such as those for new equipment or travel, on your 2011 tax return, says Denver mortgage broker Todd Huettner. While that will up your tax bill this year, it may be worth it to nab that lower mortgage rate (lenders won’t penalize you for IRA contributions and health care write-offs).
The average credit score for a federally backed loan was recently nearly 760, the highest ever. A score of 720 vs. 760 can raise your rate by a quarter of a percentage point. So check your reports (free at annualcreditreport.com) and scores from all three credit bureaus ($10 each at myfico.com) and correct any errors before you shop for a loan.
Or run the numbers on a Federal Housing Administration loan, which requires only a 580 score. You’ll pay a point upfront, plus an annual premium of about 1.1% of the loan value for the first five years, but you’re likely to get a better rate than you would with a traditional loan