Financing in Mobile County : Advice

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Andrew Liebe…, Real Estate Pro in Sunrise, FL
Andrew Liebenhaut PA answered:
how do VA loans work when buying a home for the first time?? and How does that effect your monthly payment?
100% Financing!!!! BELOW IS THE BENEFITS AND QUALIFICATIONS FOR VA LOANS!!!

VA Mortgage Loans are available today for both honorably discharged Vets and active duty military personne ... more
0 votes Share Flag Thu Jun 25, 2015 Financing in Mobile
Oscar Gonzal…, Real Estate Pro in Bellflower, CA
Oscar Gonzales - Hablo Espanol answered:
if i am qualified for a 300k va loan and i find a house that is 320k. can my parents loan me the 20k to make up the difference?
Karen
The answer is yes, but it can get a little tricky. Your debt to income (DTI) ratio may get thrown off. Also Lender may require you to show where the additional money came from, a ... more
0 votes Share Flag Thu May 29, 2014 Financing in Mobile
Rodney Mason, Real Estate Pro in Atlanta, GA
Rodney Mason answered:
FHA May Waive Foreclosure, Short Sale, and Bankruptcy Waiting Periods
Armando, I would say that you have been greatly misinformed about that. If anything, HUD is set to raise minimum credit scores and probably tighten guidelines some. It is 24 months fo ... more
0 votes Share Flag Mon May 13, 2013 Financing in USA
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
BANKRUPTCY 7, DISCHARGE 02/10, 2 FORECLOSURE INCLUDE ,DATE SALE 10/2010 AND 03/12 IN FLORIDA,,OK,, NOW, I CAN GET MORTGAGE,,,ARMANDO THX
As Rodney stated below, you will need to wait 36 months from the date of the Trustee Sale unless you are a Veteran. In that case, the waiting period is a short 24 months.

Best of L ... more
0 votes Share Flag Mon Feb 18, 2013 Financing in USA
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
Should I trust my LO if she tells me my credit score will be where it needs to be by the time the house is finish being built.?
Boy you better be careful!!!! I have written many articles about credit, and I can tell you this. If you get a secured card NOW, it will be too new to rate in order to effect your score ... more
0 votes Share Flag Mon Feb 18, 2013 Financing in USA
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
I am attempting to close a mortgage. 2010 and 2011 Tax transcript was requested from me. I had just recently filled 2010 because I did not believe
I guess you didn't e-file your 2012 return right? If you had and you are a W-2 employee with a tax refund coming, these types of Federal Tax Returns are always the first to be processed ... more
0 votes Share Flag Mon Feb 18, 2013 Financing in USA
Ruth Carlson, Real Estate Pro in Mobile, AL
Ruth Carlson answered:
My husband and I had a conventional mortgage which was foreclosed in March 2012, (after 15 years). Can we qualify for a FHA loan?
Such a sad situation. But, you cannot qualify for a new loan yet. Following a foreclosure most banks will not lend funds for a period of 3+ years. The type of loan that was foreclos ... more
0 votes Share Flag Tue Oct 16, 2012 Financing in Park Place
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
My husband and I had a conventional mortgage and it was foreclosed in March 2012. Can we qualify for a FHA loan?
Eventually you could, yes. To purchase a home with FHA financing it requires a 3 year wait from a foreclosure. There is an exception, and that is if the foreclosure was due to documen ... more
1 vote Share Flag Thu Oct 4, 2012 Financing in Park Place
Trevor Curran, Real Estate Pro in Bronx, NY
Trevor Curran answered:
This is more of a question for lenders - for a homebuyer with excellent credit, but ONLY social security as their income, will they likely be able to
Conventional and FHA Underwriting guidelines allow for Social Security income to be use as qualifying income for a mortgage loan. There are different methods used to include Social Sec ... more
0 votes Share Flag Thu Sep 27, 2012 Financing in Mobile
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
what items in a real estate sale counts towards a downpayment?
The earnest money doesn’t count either unless the lender has verified that it came from a qualified source.
1 vote Share Flag Wed Feb 15, 2012 Financing in Mobile County
Joshua A. Le…, Real Estate Pro in Saint Petersburg, FL
Joshua A. Lerette answered:
Has CDA come out with a rehab loan yet? I am in Baltimore if it matters.
I'm not exactly sure what you mean by CDA. Please explain further.
0 votes Share Flag Wed Dec 14, 2011 Financing in USA
Terry Bell, Real Estate Pro in Santa Rosa, CA
Terry Bell answered:
I have a 607 credit score & would like to buy a home. Im renting but w/ rates this low a mortg pymt would be less than my rent. What are my?
Dear Denise, Your already taking the first big step of thinking about home ownership! Your best next step is to talk to a mortgage broker. They will take a look at not only your cred ... more
0 votes Share Flag Sat Nov 5, 2011 Financing in Mobile
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
I have my name on the deed with my boyfriend, but not on the morgage. Do I have to take my name off the deed for him to refinance the house?
Hi, Lin. That's a possibility. But you can always be added back to the deed/title once the refinance is done.
0 votes Share Flag Tue Aug 9, 2011 Financing in Grand Bay
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I have just been released from a chapter 13 bankruptcy. What are my chances of getting a mortgage within the the next year or so?
If by "released" you meant "discharged", then if you have 12 months of re-established credit since the Ch 13 BK filing, and no delinquencies (late payments, collecti ... more
1 vote Share Flag Sat Jul 23, 2011 Financing in Wilmer
Gerard J. Ca…, Real Estate Pro in Spring Hill, FL
Gerard J. Carney answered:
We are officially under contract and I'm the happiest & most terrified yet. What can go wrong during the loan process? What didn't I?
Jennifer, Calm down, no need putting a hospital bill on your credit! Congratulation on your new home. If married, take the cards off of hubby, take the cards out of your wallet as well ... more
1 vote Share Flag Sun May 22, 2011 Financing in Mobile
Ellen & Doc…, Real Estate Pro in San Antonio, TX
Ellen & Doc Stephens answered:
What do other agents expect interest rates to do in the next 6 months?
Interest rates are going to VARY. Long term guess - they will rise. Why? Because they have been at historic low levels for almost a year. As the economy imporves, there will be more ... more
0 votes Share Flag Tue Feb 15, 2011 Financing in Mobile
Rameh Khazen, Real Estate Pro in Mobile, AL
Rameh Khazen answered:
do i need to try and continue to pay my mortage while i am waiting on approveable from modification?
Hello!

I would definitely continue to pay the mortgage while awaiting the loan modification. If it doesn't get approved you would then owe a few months back payments and that c ... more
1 vote Share Flag Sun Feb 6, 2011 Financing in 36582
Rameh Khazen, Real Estate Pro in Mobile, AL
Rameh Khazen answered:
what are the current taxes on this house?
Hello,

I am an agent in Mobile. It's not displaying the address for us to see but you can locate property taxes by address or name of the owner on the website I am going to link ... more
0 votes Share Flag Sun Feb 6, 2011 Financing in 36695
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
If i am working but do not get a check stub or file taxes can i still get approved for a mortgage loan. The job is legal.
If your fiancé is getting paid in cash and not paying taxes, even though the business may be legal, what he is doing is not. If you want to ever get approved for a mortgage, he is go ... more
0 votes Share Flag Tue Nov 2, 2010 Financing in Colonial Heights
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