Any private loan vetters around?I have a horrible credit score that I am repairing, but it will be a couple years before I am in a place to get bank financing, so I am a "risk" for a housing loan. But my rental history
I think a 203b loan is for new or existing. If you want to build, you need a construction-to-permanent-financing loan. You could call Washington Federal to see what they think about an owner-builder loan.
It looks like you might qualify for a total house payment around $1,000/month (unless you don't have ANY other scheduled monthly debt that shows up on a credit report). Total debt-to-income ratio for approval is 41-42%, typically. So, the house you buy or after-built price, depending on whether you are in a high property tax area, would be $125-150,000. That cost would include the lot, the city/county's systems development charges, plans, etc., and be a finished, move-in-ready home.
You might also want to contact Highline Homes, Adair Homes, or Reality Homes for package, stick-built homes.
There may be a 680 score limit on some lending programs, as well.
I also have a bank that has money available to help with loan down payment, closing costs, prepaids, etc.
Let me know if you need more information. Call me anytime 503-580-2941.... more
Are you certain that's the right address? I asked because I just searched the tax rolls to see who was listed as the current owner, but found no tax record for that address.
My guess was that I was going to find a bank or other lender as the current owner. Were that true, then I would say it's been foreclosed but for whatever reason (and there are many good ones) the lender had not yet put it on the market (yes, it regularly happens that foreclosed homes are not on the market for more than a year).
Another possibility is that the owner moved out but the foreclosure process is not yet complete (yes, it is not at all unusual that the foreclosure process would take a year or more).
Please double check the address and send me an email if it's different than what you posted.... more
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Hi, Jayne. The current market is so volatile that any number of things could be happening right now that put a home back on the market. You want to make really strong offers, and you want a persistent realtor who has your back. Many short sales cause these issues, too. Foreclosures also...anything that has a bank involved is going to cause potential "snafoos" and will result in a home being put back on the market.
Your "best and final" is what you want to put on the table, no dickering because there is such a plethora of offers that a buyer who ISN'T STRONG (along with your REALTOR being an excellent "face" for you) will get lost in the shuffle. A listing agent is going to want to keep it easiest for their seller, too.
Broker, Vernonia Realty
Specializing in Fishhawk Lake Recreation Club
"Your Gateway to the Lake!"
My website: http://www.lakehomesatfishhawk.com/
My blog: http://fishhawklakerealtor.wordpress.com/... more