Financing in Rhode Island : Advice

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Brian Martuc…, Real Estate Pro in Washington, DC
Brian Martucci answered:
I am 73 years old with an Experian credit score of 874. Can I get a 20 yr fixed rate mortgage or am I too old?
Lenders cannot discriminate on age, if you are qualified for a mortgage, you should be able to get one at any age.
0 votes Share Flag Mon Mar 9, 2015 Financing in Warwick
Allan Erps, Real Estate Pro in 10989
Allan Erps answered:
i have a 9 yr old auto repossession with a deficiency that doesnt show in my credit report but is mentioned in my divorce papers.
Should not effect your ability to get a Mortgage & best of luck!
0 votes Share Flag Sat Oct 4, 2014 Financing in Warwick
Joshua Green…, Real Estate Pro in 10012
Joshua Greenwald answered:
How do I find a broker with expertise in hard money/private lending?
Hi Steve, I have a few properties and development projects on the books right now which you might be interested in - give me a shout at joshg@alumni.brown.edu and 401 527 1994. Talk to ... more
0 votes Share Flag Fri Jan 31, 2014 Financing in Cranston
Dennis DelGi…, Real Estate Pro in 02852
Dennis DelGizzo answered:
How can I get a mortgage if I don't have a job but have money from the sale of my house and am willing to put 50% down?
Having a 50% down payment is a very good thing and currently the market has lots of incentives for first time buyers and people with low incomes. But the bottom line is you need regula ... more
0 votes Share Flag Wed Nov 20, 2013 Financing in North Kingstown
Denis DaSilva, Real Estate Pro in Somerset, MA
Denis DaSilva answered:
I need a hardmony lender for a 70/30 ltv value is 250k 1000k month cash flow in RI.
I may be interested in helping you with hard Money loan if the deal looks right. Call me 401-519-4444 and I will review the property.
principal
Denis DaSilva-Broker CDPE, LMC e-Pro
... more
0 votes Share Flag Thu Oct 3, 2013 Financing in 02809
Epicsconarti…, Home Buyer in Birmingham, AL
Epicsconartist asked:
I'm disabled and looking for a lender who can help me refinance using a Community HomeChoice or MyCommunity type mortgage. I'm going through a divorce and trying to find options that will allow me to keep my current home. I have a significant amount of equity in the home and staying here is essential to…
0 votes Share Flag Fri Dec 28, 2012 Financing in 02879
Lynda Mckenz…, Real Estate Pro in Warwick, RI
Lynda Mckenzie answered:
Are there any mortgage brokers doing 203K loans in Rhode Island?
Cass,

A 203k loan can be used only by owner occupants, local governments or eligible non-profits.

However, an owner occupant can use a 203k loan to purchase and renovate up to a ... more
1 vote Share Flag Sun Aug 19, 2012 Financing in 02907
Elva Wormley, Real Estate Pro in San Jose, CA
Elva Wormley answered:
Do you have to wait an additional 2 yrs with FHA if you go from a per diem position?
Hi Helene,

This is from the FHA handbook:

2-6 STABILITY OF INCOME. We do not impose a minimum length of time a borrower must have held a position of employment to be eligible. How ... more
0 votes Share Flag Mon May 21, 2012 Financing in 02917
Rich Homer, Real Estate Pro in 34108
Rich Homer answered:
Do you have to wait an additional 2 yrs with FHA if you go from a per diem position?
That is a question for good local Mortgage Broker. Find one here http://www.trulia.com/voices/directory/02917-mortgage_broker_or_lender--41723
http://www.naplesrealestateguys.com/
0 votes Share Flag Sun May 20, 2012 Financing in 02917
Vickie Pizza…, Real Estate Pro in Johnston, RI
Vickie Pizzarelli answered:
are there any small money lenders in providence,r.i.?
Nancy,
I am holding a Free Home Buying Seminar on March 7th at Coastway Community Bank at 1155 Reservior Avenue in Cranston, RI from 5-6:30pm. There will be a Loan Officer there, an At ... more
0 votes Share Flag Tue Feb 28, 2012 Financing in Providence
Lynda Mckenz…, Real Estate Pro in Warwick, RI
Lynda Mckenzie answered:
what does fha exp 0512 mean?
Are you looking at condominium properties? If so then the date represents when the condominium approval will expire.
Once the expiration occurs, new paperwork will need to be submit ... more
0 votes Share Flag Mon Jan 9, 2012 Financing in 02852
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
if unpaid auto charge off nolonger shows on report should i settle or leave it alone. And try for mortgage approval.
Even if your charge off for the auto is older then 7 years old it would probalby still show up on your credit report. Many companies report charge offs every couple of years so that it ... more
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
wil FHa allow 2 years of steady per diem taxable income to be included in mortgage qualification amount.
Helene,
If the income will continue then it can be included.
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Bob Movin-On, Real Estate Pro in Hartford, CT
Bob Movin-On answered:
unpaid auto charge off doesnt show on credit report sny longer. should i settle it or just leave it alone because it nolonger shows ?
Did you check all 3 credit reporting agencies?

If it was charged off and there was no law suit or judgement you could let it ride, depends on how you feel as a person.

Good Luck ... more
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Bethany1201, Other/Just Looking in Warwick, RI
Bethany1201 asked:
on the URLA 1003 there is a section that state how the mtg should be on Title -- How accurate is this and How legal is this? adding/taking off In my world of subs they are taking the name for the mtg from there some are adding names dropping middle initials ect... My thought in my head is that you need a deed marr cert to make…
0 votes Share Flag Wed Nov 2, 2011 Financing in Warwick
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Does anyone mind explaining how points work and if its better off in the long run?
The trade off isn't for every 1 point paid you can reduce your interest rate by 1%, but it is more than just .125%. It will vary depending on the lender, the rate, and the pricing ... more
0 votes Share Flag Sat Oct 22, 2011 Financing in Rhode Island
Simon, Home Buyer in 02840
Simon asked:
Im trying to find a loan as a foreign national in RI. Any suggestions or help? I am an Australian/British citizen looking for a property in RI. I am full time employed and have a 20% deposit in hand. I do not have a Social security number or pay tax. Any suggestions…
0 votes Share Flag Mon Oct 10, 2011 Financing in 02840
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Can I obtain a mortgage if I filed for bankruptcy within the last 2 years?
David, Kathy has a bankruptcy, not foreclosure.
0 votes Share Flag Mon Sep 19, 2011 Financing in 02864
The Roskelly…, Real Estate Pro in Odenton, MD
The Roskelly Team answered:
Is financing possible for someone moving to Providence without a job?
Hi Nick,

I would definitely check in with a good local lender. Because of your student status you may be eligible for some unique mortgage programs. It's always best to have ... more
0 votes Share Flag Wed Jun 8, 2011 Financing in Providence
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