First Union Online Banking

Does any one know any credit unions, banks, online companies, that offer a new home loan at 103% (to cover the closing costs).

I'm thinking of buying my first home and have great credit... but no cash for a down payment or closing costs.

From what I've been told sometimes the seller will cover the closing costs but I rather have the ability to do so myself if it comes down to it.

Thanks.

If you get a 103% loan, you'll take it on the chin with the interest rate. Fannie does not have an over-equity product. You're pretty much locked in to a specialty lender, and those can get expensive. And the seller more than sometimes pays for closing costs. Make it a point at the negotiating table to make sure the seller pays them, even if you have to agree to a higher price than you have in mind. Remember, everything is negotiable.

2007-03-08 09:14:27 by Blah

Join Webster First Federal Credit Union! Visit us online at www.websterfirst.com! With 9 branches conveniently located throughout Worcester County ...

I have been pre-approved by a local very large bank known for their mortgages of which I am a customer. I know the lender.

Once my short sale is approved I will get my first rate & points from him. Then is it best to shop on the internet or go in person to other banks? Do credit unions or online mortgage companies offer better rates and less points than nationally known banks?
Very good suggestions. Thank you all for your ideas.

Generally credit unions offer very good rates because they are non-profits so they have lower costs. I particularly like the Navy Federal credit union and the Pentagon Federal Credit Union.

The first thing to do is to get your credit report for free at www.annualcreditreport.com and check what is on there to make sure your report is accurate. If it is not, and there are negative items on there, get those cleaned up.

If you are a first time homebuyer, check on www.hud.gov or at the department of housing in your city or county to see if there are any special deals for first time homebuyers. I got a mortgage under something called a "mortgage credit certificate" that saved me 20% off of the interest costs.

If that doesn't work, try to do all your rate shopping within a 2 week period of time, so it has the least effect on your credit score.

There is a "homebuying for dummies" book you can get at your library that has pretty good advice on how to shop for a mortgage. The biggest thing is to make sure you compare APR (annual percentage rate) not just the rate quoted, because sometimes a low rate comes with huge amounts of fees and points, and they offset the low rate.

2009-12-26 19:25:45 by Cou G

I have a pretty bad credit score. (540) I am trying to get a car from a private party. My mother, whos credit score is around 750, said she would co-sign for me. I have applied to a bank with me as the primary and her as the co-signer and was denied. I have also applied for a loan with her as the primary and myself as the co-signer. Denied. What is the deal? BTW, I have only applied online. The first institution we used was A credit union, the second was Bank of America. I need help! Who will approve the loan? Has anyone dealth with Eloan.com before?? Any advise would be appreciated!

It really depends as much, if not more, on the value of the car you're buying.

If you're buying a car that is costing you $3,500 , but the low retail value on it is $5,000 ; then if you default on the loan and the bank repossesses it - they make $1,500. A financial institution is very likely to see this as a profitable investment and approve you.

However, if you're buying a car that will cost you $7,000 , but the low retail value on it is $5,000 ; then if you default on the loan and the bank repossesses it - they lose $2,000. A financial institution is very unlikely to see this as a profitable investment and approve you regardless of your credit score.

The only way I could see you being limited to having your mom purchase the car or relying on public transportation is if you have an inconsistent work history.

You will want to base the value of the car on the LOW value at NADA. You can also take the Kelly Blue Book value and subtract 11% to determine the value of a car - again, you'd go with the LOW value since you're an individual, not a dealership.

2007-08-01 10:35:34 by stoopid

Hey everyone. So I am from the united states, and have a guy from Israel who is trying to send me $950 through western union. Well, after I gave him my info, here's what he said:
Sir, unfortunately I could not transmit the payment to you!!! X( I tried at two different western unions stations and both alltogether explained that there is a limit for western union money transfers from Israel to the United States!! And the limit depends on what status has the receiver. I explain: if the receiver is registered with western union (= has a western union gold account) the limit is 10 000 israeli shekels (2 671 american dollars) every month, with a limit of 2 000 israeli shekels (534 american dollars) per transaction (also 1 day = 1 transaction, so effective also per day) if the receiver is not registered with western union and has no gold account, then the limit is 2 000 israeli shekels per month and per transaction (mening only one transaction is allowed in 30 days time). The clerks at w.u. in Netanya searched for your name and location but could not find you in the western union database. Do you have a western union gold account? If so please geive me the account number. If not, you maybe can register one?

If you already have or if you do register, then I can do the payment in two parts like one tomorrow and one on monday, 500 american dollars in one and 450 in the other. So situation solved! Otherwise if you do not have and do not register, then maybe I can use a different tool to pay? I could simply send money from my bank account to yours, or I could transfer money online using paypal?

I'm very sorry this problem occurred!! I really do want this character very much and I do hope you will have patience in bearing with me until coming to a solution for this situation. Please do let me know if so and what you want happening... thank you!!!
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So what does he mean exactly? I made a western union online account quickly, not sure if it was gold already or not? I told him, and he asked me for the western union account # like this:

Please send me your western union account number. Shops here are closed now, but I will go making the first payment for 500 american dollars tomorrow morning... I tried to do via online, but Israel is not among the list of the countries that are abilitated for online payment... Thank you for your patience!!

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So what is it he's asking for exactly? What is the western union account #? Also, what can I do so he can send the money?

You are being suckered into a scam. Since Western Union doesn't work for him, he'll be asking for your checking account number to deposit the money directly into your account. What will happen instead is he will take every penny from your checking account and leave you solidly BROKE!

The red flag? In his note to you he says in part "Otherwise if you do not have and do not register, then maybe I can use a different tool to pay? I could simply send money from my bank account to yours, or I could transfer money online using paypal?"

You probably don't have a Paypal account, or if you do, it won't work either. So the last resort is your personal bank account information.

2009-10-09 16:16:29 by I see.

I have recently been given a line of credit through my credit union for $7K and have made the first payment the day before the due date. I do all my banking online or home access as my credit union is out of state. I logged on tonight to find a message saying i have not made a payment and need to contact them immediately. I am confused. I owe about $5K on the loan and still have a remaining credit avail for $2K and now it is showing "zero"? I only made a $150 payment on the 12th (due date was 13th) transferring the funds from my checking account to my line of credit loan. I noticed too that the minimum payment due was "zero" and so i just figured out the payment by the 11% interest rate they gave me.
Does a line of credit loan need to be pain in FULL right away?? HELP! I am confused. I will be calling the bank first thing in the morning because I just don't understand why they took the remaining avail credit away???
Can someone enlighten me on this issue??
Thanks.

Usually when you do a personal loan or line of credit from your bank or credit union they just automatically make payments from whatever account you specify.
There was probably a default clause stating that if you are late with your payment your account might be suspended which is why the money is no longer available. I wouldnt get too worried. It sounds like a paperwork type problem. You have a record showing you tried to pay it and whoever you talk to in the morning will straighten it all out.
Dont waste too much sleep over it. Credit unions arent like huge national banks. They have more personal one on one associations with their members. I dont know of any loan that demands instant payment of the entire amount if a payment is late.

2007-09-20 23:36:02 by Jojo