3 Thoughts on What are the requirements 4, a fixed rate loan?
  1. Reply
    November 5, 2012 at 4:11 pm

    that what you need to ask the bank, they have the requirements

  2. Reply
    November 5, 2012 at 5:03 pm

    Let me just recommend a good mortgage lender… Mortgage Investors Group based in Knoxville, TN.

    Yes, it is mainly income & credit based. Find a good company with a manual underwriter that will look at you instead of looking at numbers on paper…

  3. Reply
    November 5, 2012 at 5:34 pm

    Fixed rate loans can be any type of loan you want that you qualify for based upon your situation. Even a few years back if your credit was bad, you could have gotten a fixed rate loan, but most people chose the adjustable rate mortgages (ARM’s because the rates were lower ). People get hung up on rate, the rate isn’t important, it’s the monthly cost that should be a concern.)

    You can have a 30 year fixed rate on VA, FHA, USDA, Community 100 programs, etc. Your loan options will be determined by your credit ( or lack of ), income to debt ratios, income to housing ratios, etc.

    There are many options, even after the fall out of the past year. Check in with your mortgage pros. If they’re still here in this market, good chance they know what they’re doing.

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