I was told by someone that depending on the loan the interest rate can go down but not up on some FHA 30 fixed rate mortgages. Is this true?
I know its fixed and I know what that means but it is a FHA loan. For example I also heard that they can be assumable which standard loans are not. Are they also not assumable? Have I been missinformed here also?

You can do a 'STREAMLINE REFINANCE' to lower the rate....they dont ask for income docs or new appraisal.
closing costs are lower on the streamline refi's.

fha loans are assumable...and you can transfer your interest rate to the new owner...or the owner can get a lower rate

Is there a mortgage that will be 30 year fixed with interest only for 5 years?

If so, is it possible to pay more than the interest every month so I don't miss out on paying the principal? Are there usually fees associated with this? I want to upgrade my place, but can't quite afford a 30 year fixed on the new place, but I can afford interest only + plus a couple hundred extra which would make the payment close to what I am paying now. Is this even possible?

Yes it is. With a good credit score you can request exactly that type of an arrangement from your financing company. Interest-only for the first five years and then normal P&I payments for the rest of the loan. Good thing to convert to a fixed-rate especially if you presently have an ARM on your house... the interest rates are going upwards.

I have student loan with variable interest. Should I get personal loan with fixed interest, or pay principal?

I want to pay off my loan, saving the most money. I have 10 years left with variable interest. Should I get a personal loan with fixed interest, or pay toward the principal on the loan? I also need a car this year. I have money to pay for 3/4ths the car and was going to take a loan for the rest. Should I take this money and pay 3/4ths my student loan and then finance the whole car loan which would end in 5 years?
I want to pay off my loan, saving the most money. I have 10 years left with variable interest. Should I get a personal loan with fixed interest, or pay toward the principal on the loan? I also need a car this year. I have money to pay for 3/4ths the car and was going to take a loan for the rest. Should I take this money and pay 3/4ths my student loan and then finance the whole car loan which would end in 5 years?

I must add that I did consolidate 9 years ago and they do not allow another one unless adding another Federal loan so I cannot reconsolidate. The current rate on my loan is 7.94%

Put the money down on the car. If you want, you could also put a bit less on the car & some to the loan.

The student loan is tax deductable, the car is not. Not to mention, a personal loan will end up with a higher interest rate than the student loan. I would say: put the cash down on the car, then add a few extra dollars a month on the student loan to pay it down faster.

Where can I get a low fixed interest rate personal loan to pay off my variable private student loan? Where can I get a low fixed interest rate personal loan to pay off my variable private student loan?

US Bank traditionally has some of the best rates for what you are looking for. however, if you do not have good, established credit, you will have trouble qualifying for the program. But why pay off your student loans anyway...they are usually going to have better rates than any personal loan in the world...they are for students. just keep em, pay them off later.

What is a good fixed interest rate for a Mortgage Loan? What is a good fixed interest rate for a Mortgage Loan?

I would say 6.25% Fixed if its a 30 year loan and 6% Fixed if its a 15 year old. It actually depends on every single thing

LTV (Loan to value)
Fico Score (The better the lower your rate will be)
DTI Ratio (Debts to income ratio)
Downpayment (The more, the lower your rate will be)

Apart from this, shopping around with 2-3 companies is always a good idea. Actually, you need a good Loan officer whom you can trust and who you think can shop for you alot because loan officers have access to more than hundreds of banks and they can always get you the best rate, making sure they are not taking too much in their pocket!

I am a loan officer and can get you some good rates if you want.
Mohit Madaan
Loan officer
Mohit@ImpressiveLeads.com
7187753226

Any suggestions on how to refinance an ARM mortgage to a fixed with lower interest?

One spouse has poor credit, while they other, although has decent credit, is self employed and can not show pay stubs. The tax documents don't work due to write offs for the business that have the income level low.

There are some questions that I would need to know like: How much do you owe on the house versus how much it's worth? How long has the self-employed spouse been self-employed? Hopefully, it's at least 2 years which is what most lenders would want. And what do you consider decent credit? Hopefully you are talking 680+ FICO, which would be easier to get qualified for the refinance.

Just because a person is self-employed doesn't automatically mean that they can't get refinanced. You would need to work with a lender that will allow you to use 12-24 mos. bank statements instead of your tax returns (since you write off so much on your tax returns). Basically, the lender will qualify your loan based on what your average monthly deposits are.

I hope this helps and good luck.

What is the best fixed rate, low interest, basic credit card for first time card holders?

I'm looking to build my credit. I don't need anything with balance transfer, special rebates or extra insentives. Just basic.

If you are a student a student card is the best card to get they have low apR, rewards ect., try amex student card, discover student card, u must be in school

Can mortgage companies increase fixed interest rates because of being default on credit cards with same bank? Can mortgage companies increase fixed interest rates because of being default on credit cards with same bank?

It depends entirely on the terms and conditions of the note and mortgage. Such clauses are rare, but they do exist.