Financing in 20170 : Real Estate Advice

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Russell Mahrt,  in Philadelphia, PA
Russell Mahrt answered:
203(k) Rehab Loan 203(b) Home Acquisition Mortgage Loan
Hi Manfredo,

When you buy your house you will get only one loan - either the 203(b) or the 203(k). The standard FHA 203(b) loan is for a house that is in fine living condition. The ... more
1 vote Share Flag Tue Aug 18, 2009 Financing in 20170
Abe Mills, Real Estate Pro in Greenville, SC
Abe Mills answered:
Verbal commitment to lender for home mortgage, locked interest rates.
Manfredo,
Yes you can a verbal contract is un-enforceable. If you were to go test drive a car, you do not own it until you sign those papers!

Good Luck!
0 votes Share Flag Mon Aug 17, 2009 Financing in 20170
Mary Margaret…,  in Fairfax County, VA
Mary Margaret Gates answered:
If I lock-in mortgage rates for my first time home purchase financing, can the locked-in rate be
Sorry, I misread the effective date for the Housing & Economic Recovery Act- HERA. The effective date was July 30th, 2009. Thanks, Shawn, for the correction.

Mary Margaret
0 votes Share Flag Mon Aug 17, 2009 Financing in 20170
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