If everyone in America decided to take out a $200,000 home loan, would that cause a recession?

america home loans on denver home loan affordability calculator 4 3 screenshot
america home loans image



Lever


Some people could afford to pay back that loan, but some could not. How would this affect the economy and businesses? Would it be considered a recession?


Answer
My home loan is 4 times that

Does anyone know if getting a home loan with Bank of America is a good idea?




Katie


I'm in the process of buying my first house and am trying to figure out who to get the loan with. I'd appreciate any tips or ideas. Thanks!


Answer
No. I would shop around with several lenders. You can try an online source who will get you several quotes from lenders. Try http://www/golendershopping.com they have a good reputation for providing good lenders. Good Luck!

If Bank Of America turns me down for a home loan, should I seek a bank overseas? Europe or China?




paul h


This will be my third home purchase on stated income?. I understand thr banks have given out too many bad loans recentely, but are there some that still have confidence with good buyers?


Answer
I think you should try a mortgage broker first. They have access to numerous lenders. Look for one that does its underwriting in house.

I'd never seek out a loan overseas, personally.


It looks like every other answer on here was a scammer. Please don't fall for that!

if i have been approved for a home loan through bank of america will rural housing approve no problem?




Michael


my fiance and i have been approved through bank of america for a rural housing loan for 137900. now it has to go through rural housing what are the chances of us being denied. her credit 681, my credit 661, income to debt ratios are all good, the only problem is that we dont have much in reserves. will that affect ups?


Answer
Your down payment may be a factor. If you don't have any money in reserves, what will you do if something happens and you lose your jobs or you have a huge repair that needs to be made to your home? You won't have any money in savings to help. I wouldn't buy a home unless you have at least one years salary, both you and your spouse, in savings.

What's the song on the new Bank of America Home Loans Commercial?







Theres a commercial that has been recently been running....May 2009...about Bank of Americas Home Loans and "Clarity Commitment". There's no words, but its a piano tune. Anyone know of what this is or where I can get it? Thanks.


Answer
It was composed just for the commercial.




Powered by Yahoo! Answers

No comments:

Post a Comment