Financing in 60640 : Advice

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B.J. Tregoni…, Real Estate Pro in Chicago, IL
B.J. Tregoning answered:
Problem with FHA Loan need help!
Contact Ian@guaranteedrate.com
Ian Beamer
773-391-9199
0 votes Share Flag Tue May 6, 2014 Financing in 60640
Bill J Delig…, Real Estate Pro in Chicago, IL
Bill J Deligiannis answered:
I paid mortgage and taxes for 10 yrs on a property in my mothers name
If you are paying $2k/mo for rent then you may be able to qualify for a mortgage. Feel free to contact me should you want to get pre approved for a loan.

As per your issues with your ... more
0 votes Share Flag Fri Mar 7, 2014 Financing in 60640
Bill J Delig…, Real Estate Pro in Chicago, IL
Bill J Deligiannis answered:
If you buy a home FHA and never live in is that loan fraud?
FHA is for owner occupants. If the home was never lived in by the person obtaining the loan, that could be a problem.
0 votes Share Flag Thu Feb 6, 2014 Financing in 60640
Chris Diamond, Real Estate Pro in Chicago, IL
Chris Diamond answered:
I currently have a owner occupied FHA loan, what are the penalties if I rent the home as I am unable to sale it? I have owned the home for 5 years.
You can rent it as you have occupied for more than 12 months which is the occupancy requirements on a FHA loan. If you purchased it with the intent to occupy as a primary residence and ... more
0 votes Share Flag Wed Jan 8, 2014 Financing in 60640
Chris Diamond, Real Estate Pro in Chicago, IL
Chris Diamond answered:
Bought home in 2008@6% int. In 2010, job ended. In 2012, he landed a job in Texas. We rent an apt. now. Can we refinance?
Andrea,

The answer would come down to what program your current loan is on.

However, based off how the question is worded it sounds like you bought the home in 2008 which would m ... more
0 votes Share Flag Fri Apr 12, 2013 Financing in 60640
Chris Diamond, Real Estate Pro in Chicago, IL
Chris Diamond answered:
If I own my home (no mortg) and my daughter is about to lose her home in another city, can I get FHA loan to get her a house?
Call me to discuss your options within this situation as there are options available that could be of interest.

Chris Diamond
Diamond Residential Mortgage Corporation
NMLS: 771882 ... more
0 votes Share Flag Fri Apr 12, 2013 Financing in 60640
Santiago ken…, Real Estate Pro in Chicago, IL
Santiago kensel Sanchez - CDPE answered:
Can I rent my FHA loan house out if I refinanced a few months ago?
I am sorry to hear that but its your house , i will do a short sale in your case
0 votes Share Flag Tue Mar 26, 2013 Financing in 60640
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
Loan needed...
Bobby,
If you have reestablished credit and your score is at least 640, you may qualify. You need to speak to a mortgage officer that is familiar with VA mortgages.
0 votes Share Flag Thu Sep 6, 2012 Financing in 60640
Sohail Salah…, Real Estate Pro in Chicago, IL
Sohail Salahuddin answered:
FHA Refinance and Renting Out
Chatty Chica,

Who is your lender? i would discuss it with your loan officer as they can provide you with the best advice and angle to still accomplish your goals.

Sohail A. Salah ... more
0 votes Share Flag Tue Aug 7, 2012 Financing in 60640
Patty Harris…, Real Estate Pro in Naperville, IL
Patty Harrison 630-854-3459 answered:
In Chicago - need refinance advice for an underwater condo
We just received new guidelines from lender -- let us know if we can help. Rates are about 2 points lower than what you have

Patty Harrison
Smart Mortgage Center
630-788-6200
www ... more
0 votes Share Flag Wed Jun 8, 2011 Financing in 60640
Michael Cline, Real Estate Pro in Chicago, IL
Michael Cline answered:
Is it Loan Fraud to rent recently refinanced FHA property due to job relocation?
Frank,

Withholding this information from your new lender IS cosidered mortgage fraud since you have not closed on the loan. Whether or not you may get into trouble is a different s ... more
2 votes Share Flag Thu Apr 7, 2011 Financing in 60640
Bradley Egge…, Real Estate Pro in Palatine, IL
Bradley Eggers answered:
Recently purchased a home with an owner occupied conventional loan through northern trust, how soon can i buy another home with FHA owner Occupied?
Daniel85,

Matt's answer below is very good. When you signed your mortgage at closing, you agreed to occupy the property for at least one year after the date of occupancy. Ther ... more
0 votes Share Flag Tue Nov 30, 2010 Financing in 60640
Jose Hernand…, Real Estate Pro in Chicago, IL
Jose Hernandez answered:
Does anyone know of a special loan programs for buying into low-middle income areas?
Not sure what you're trying to accomplish, but I would need more info to give you more options. Most banks will have the same guidelines for this programs. On the other hand, if ... more
0 votes Share Flag Sun Nov 28, 2010 Financing in 60640
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