The major draw back when opting for 203K financing is finding a contractor who can comply with the qualifications required by FHA and who is willing to work under FHA payment terms. As the 203k guidelines are complicated to meet, work with a local FHA approved lender with experience in funding 203K loans for renovation of residential properties in Missouri.
1st time home buyer question!Looking for thoughts/answers to the following questions in regards to first time home buyer loan:
1. credit score range from 670-710
2. self employed just file 2013-2014-2015 taxes
Is your agent not being helpful? They should be able to work this out with the seller's agent. I don't see how this person can sell the house to someone else when they still have a legal obligation to sell it to you. Your contract to purchase hasn't been voided yet.
If your agent isn't helping, call their broker to help get them involved. If necessary, you may want to report the listing agent to SLAR. http://www.stlrealtors.com/ They should know better than this.... more
Unless your house is on the market, the photo on this site it probably from Google Street View which has a tendency to make errors like that. there's no need to correct it nor will Trulia work with you to do so.... more
Lease to Own is a good way to get taken advantage of. There are only two situations in which this is offered. See the link below on why you really don't want to even think of looking for such a thing.
I totally agree you should talk it over with agent before you spend a dime. Most of the time you'll spend more on a home improvement project than you'll add in value. Some things can make a home more sellable but that does't mean at a higher price.
As hot as some parts of St. Louis are right now, you might actually make more not changing all those things than if you spend $50,000 to add $30,000 in value.
Please also know that there is a real market for vintage kitchens and bathrooms and some of us area really, REALLY sad when we find out that someone ripped out and replaced exactly what we were looking for just to sell the house.... more
Are you looking for single or multi family homes? There are many great areas that will give you the best bang for your buck. If you are going to manage your own properties I recommend an area that is convenient to your primary residence. Let me know how I can help you narrow your options.... more
If four units have come on 5-15% lower than you paid... unless your unit has something special (extra space, extra room, better upgrades, higher floors, private patio...) they are going to set the bar as far as any appraiser is concerned.
And spending money on ongoing maintenance and repairs is just a part of home ownership. You may just be stuck until the market increases enough to give you the equity to sell.
Portfolio loans in st. louis MissouriI have a bankruptcy discharged as of Feb of 15. This was due to a failed business and divorce. My credit score is now pushing 700 and I have 75% to put down on a house. I have been steadily