When trying to figure out whether or not a home is still for sale or not on the internet, the best thing to do is contact a local Realtor in the area. Sometimes homes appear for sale on certain internet sites, when in fact they were never for sale to begin with. Go to a reputable source to find accurate information.... more
You stated in your question that "we would like to sell our house and buy another house". Carefully go over whether or not you "want" or "need" to sell your house.
It is very important to speak to a reputable mortgage lender, preferably a private lender, prior to putting your current home on the market. Feel free to get a couple of opinions and work with the person you are most comfortable with. Don't be in a rush to make any decisions that you may end up regretting in the future.
ALMOST ONE YEAR LATER Entire upper level apartmentl gutted and redone, bathroom, kitchen and deck redone downstairs. Weil Mclean high efficiency boiler, state gas 75 gal, hot water heater, upgraded electric extended to garage, new driveway cement and one of the few legal two families in the neighborhood...new doors and appliances throughout! Look at the houses sold two blocks down with one less bath and no income - asking $585K...is snapped up and sold!!... more
Second mortgage is an ideal solution only if you really need it. However, I still believe that before applying for a personal loan such as 2nd mortgage, you should be able to assess yourself if you have the resources to pay-off your debt.If yes, then find a lender that offers low interest and decent terms.
I see this is an old post, however, I will post an answer in case it assists others. Try a "kiddie condo" loan, great way for a parent to help a child purchase a home. Ask a mortgage company for detials.... more
Once the bank receives the appraisal, they will then submit it to underwriting to request a final approval with conditions (typically no change in income, clear title, etc.) and then give an estimated date for closing. The underwriting process varies, your loan officer should be able to give you the typical time frames. In my experience it can take from 48 hours to 10 days. Most loans today take about 45 days from signing to closing if that helps. If you are working with a real estate agent, be sure to have them watch your closing date on the contract and ask for an extension if your loan will not be ready by the date listed in the contract. In order to close on your home, the title company or attorney must have the loan documents. I hope that helps. Congratulations!... more