FHA LOAN

[Cyberfx1024 7,980]

3 minutes ago, JeanneAdil said:

and HUD but she didn't ask about them

We started out after college with FHA loan but now lucky to have built the equity up in every house since then to be able to put a healthy down payment 

i think new homeowner's get a "new home" shock when they have to but curtains,  curtain rods,  lawn care equiptment and appliances 

so OP  buy it

enjoy it 

and get ready to itemize tax returns as the interest is tax deductable

Exactly.... 

We bought last year and luckily I was able to refinance because I have a VA loan and shaved over 1.3% off our APR. But you are right about the expenses because I must have spent a good $2-3k for things and utilities when we moved over. 

My kids haven't liked it this fall because we have lot of pine trees around the house. So we have totally raked the yard 3 times now and burnt what we collected. 

Edited December 18, 2020 by Cyberfx1024

[JeanneAdil 6,606]

4 minutes ago, Cyberfx1024 said:

Exactly.... 

We bought last year and luckily I was able to refinance because I have a VA loan and shaved over 1.3% off our APR. But you are right about the expenses because I must have spent a good $2-3k for things and utilities when we moved over. 

My kids haven't liked it this fall because we have lot of pine trees around the house. So we have totally raked the yard 3 times now and burnt what we collected. 

and i forgot to add the property taxes are also income tax deductions

 

 

sorry as i am getting off OP post but don't burn the needles/  put them around flowering trees and bushes

 

If you're looking for a cheap, fantastic tree and shrub fertilization option and you have pine trees in your yard, it's literally right under your nose! Pine needles are nature's ready-made mulch, providing the exact nutrients your soil needs.Jun 13, 2016

[Cyberfx1024 7,980]

1 minute ago, JeanneAdil said:

and i forgot to add the property taxes are also income tax deductions

sorry as i am getting off OP post but don't burn the needles/  put them around flowering trees and bushes

If you're looking for a cheap, fantastic tree and shrub fertilization option and you have pine trees in your yard, it's literally right under your nose! Pine needles are nature's ready-made mulch, providing the exact nutrients your soil needs.Jun 13, 2016

Well for a VA loan they bundle everything in with the payment. So I pay my mortgae, taxes, and insurance in one payment which is good.

 

My wife likes to use mulch around the plants and trees. I take her word for it because she is the one with the green thumb. My son is going to hate tomorrow because I plan on us clearing at least 1/2-1 acre of brush tomorrow to help extend the pasture out. 

[Orangesapples 1,954]

1 hour ago, Cyberfx1024 said:

Well for a VA loan they bundle everything in with the payment. So I pay my mortgae, taxes, and insurance in one payment which is good.

 

 

That's how most mortgages are. You can choose to pay taxes and insurance yourself or have them all in escrow. 

[Carpe Vinum 2,330]

6 hours ago, Lucky Cat said:

Look at the URL.  That is directly from USCIS!!!!!

You can't please everyone, brother))

[MaxxDy 3]

3 hours ago, dbLA said:

Just another idea, Instead of a FHA loan have you looked at a 5% conventional? you will still have a monthly PMI payment but the interest rate will be lower. 

Hello what is a 5% conventional? And what is a PMI means and stands for? Thank you

[MaxxDy 3]

5 hours ago, NancyNguyen said:

You don’t have to be mean.

Sorry I am not being mean or what. I just wanted to be straight to the point so we will not be wasting our time and effort here and also to avoid confusion to lot of people who will read this post and comments here. That is why it is better we will only answer and comment what it needs to be answered so it will be clear and solid. Thank you

[MaxxDy 3]

3 hours ago, Greenbaum said:

The OP has her answer thanks to @Lucky Cat. No need to worry @Harlene L you be ok with AOS. Please understand we are here to help. 

 

@Harlene L We need a little housekeeping on your end. Many of our answers are predicated on the information you supply in your profile. When we look at the left column and can't determine your timeline OR your Embassy it's hard for us to give you a factual answer. Our answers will sometimes be tailored to a specific Embassy hence the reason for you to complete your profile. If you look at the profile of others here, they have a flag for their country, so it makes it easy for us to reply as we can quickly determine their Embassy. The country that should be used is the country where the interview will take place.
 
So, if you could help yourself out and complete your profile that sure would help us out when we want to reply to your question with factual information.

 
Timeline: https://drive.google.com/file/d/1RTx4pIFfcIXyW15L-nyLuBGzwqYRx5lI/view?usp=sharing

Country and Visa Type: https://drive.google.com/file/d/1RyJiLo_7WTmqvkzXXqLuOlVHm9oyhAES/view?usp=sharing

 
Once you finish that then return and you will see a flag in your profile. Select it and see what wonderful information will open up for you.
 
Thanks 

Thank you so much for this i really appreciate it. And yes i will do that. 

11 hours ago, Lucky Cat said:

According to this list, an FHA loan would not be considered under the public charge rule:

 

https://www.uscis.gov/news/public-charge-fact-sheet

 

Thank you so much again for your clear and solid and reliable answer. Appreciate it a lot. God bless and Merry Christmas

[MaxxDy 3]

3 hours ago, Cyberfx1024 said:

All of this is true for a VA loan as well except for the down payment. 

Hello what does a VA means or stands for? Thank you

[MaxxDy 3]

3 hours ago, JeanneAdil said:

and HUD but she didn't ask about them

 

We started out after college with FHA loan but now lucky to have built the equity up in every house since then to be able to put a healthy down payment 

 

i think new homeowner's get a "new home" shock when they have to but curtains,  curtain rods,  lawn care equiptment and appliances 

 

so OP  buy it

enjoy it 

and get ready to itemize tax returns as the interest is tax deductable

My lender says base on my credit score and credit history background he can only help me now the FHA loan or maybe a conventional loan? Which i dont know also yet about what a conventional loan is. But the lender told me he will discuss it to me everything when I found a house already that I am willing to buy. Also i heard about that HUD also but no exact idea or understanding about it. I am originally from the Philippines and now a US Citizen recently and did not have any idea about credit score or credit history. So only this year 2020 month of May i did two $1,000 personal loan and open two credit card limit for $500 and $1,000 in two different bank so i can start building my credit score or background. I never owe any money since i got here in America. What i does when i started working here i always save my money to my bank and always purchase anything through my savings money or pay cash. So i never really experience being on debt or borrowing because i always have savings money to use to go grocery buy gas and so on. Now im on 6months since i started building my credit background and thats the lender told me about FHA loan or conventional. Thank you

[JeanneAdil 6,606]

23 minutes ago, Harlene L said:

Hello what is a 5% conventional? And what is a PMI means and stands for? Thank you

PMI is Private mortgage insurance you will be paying as your down payment is low

[Cyberfx1024 7,980]

51 minutes ago, Harlene L said:

Hello what does a VA means or stands for? Thank you

VA is short for Veteran's Affairs. Because I am a veteran I am able to use a VA loan which helps me buy a house with no down payment

[usmsbow 802]

1 hour ago, Harlene L said:

My lender says base on my credit score and credit history background he can only help me now the FHA loan or maybe a conventional loan? Which i dont know also yet about what a conventional loan is. But the lender told me he will discuss it to me everything when I found a house already that I am willing to buy. Also i heard about that HUD also but no exact idea or understanding about it. I am originally from the Philippines and now a US Citizen recently and did not have any idea about credit score or credit history. So only this year 2020 month of May i did two $1,000 personal loan and open two credit card limit for $500 and $1,000 in two different bank so i can start building my credit score or background. I never owe any money since i got here in America. What i does when i started working here i always save my money to my bank and always purchase anything through my savings money or pay cash. So i never really experience being on debt or borrowing because i always have savings money to use to go grocery buy gas and so on. Now im on 6months since i started building my credit background and thats the lender told me about FHA loan or conventional. Thank you

 

Conventional loan generally means putting 20% down for a downpayment, and having a 30 year (sometimes 15 year) loan at (usually) a fixed interest rate. There are a variety of loan "options" when buying a house, and conventional is basically the most straight forward one.

 

Please don't rush into buying a house and do as much research as you can into home buying and mortgages. It will save you from a lot of potential headaches and financial stress. 

 

 

 

 

[Orangesapples 1,954]

2 hours ago, Harlene L said:

Hello what is a 5% conventional? And what is a PMI means and stands for? Thank you

PMI means private mortgage insurance. Lenders require it if you have less than 80% equity in the house. 

[Orangesapples 1,954]

36 minutes ago, usmsbow said:

 

Conventional loan generally means putting 20% down for a downpayment, and having a 30 year (sometimes 15 year) loan at (usually) a fixed interest rate. There are a variety of loan "options" when buying a house, and conventional is basically the most straight forward one.

 

 

 

A 20% down payment is not required for a loan to be conventional. A conventional loan is basically any loan that's not VA or FHA. Our loan is conventional and we had less than 20% down.