The only way you can do this is if the home qualifies for a rehab loan. The difference in the loan amound and the purchase price will go into an escrow account that will allow you to make repairs on the property and pay out of this account. The money cannot go to anything else, and any unused portion of the escrow account would go back to the lender to pay down the loan.
You cannot use this amount to pay closing costs or as your downpayment.
It's more than real estate. It's RAYL-Estate!
Keller Williams Elite
I wanted to let everyone know that our team has recently moved to PrimeLending! We now have new programs that we have not had before, and our loan process is unbelievable! There will more information to
As a veteran myself, and with Veteran's day approaching, I want to discuss VA loans for veterans. I feel it is important for veterans to use this benefit as it is an earned benefit and actually makes housing
Home buyers are distracted by interest rates and mortgage insurance when they should only be focused on the monthly payment and whether or not that’s affordable. If you can buy a house today and keep
Most lenders are going to require a minimum middle credit of 620 for a VA mortgage. You're not really that far off so you'll want to have a mortgage professional review your credit report to see what options you may have of increasing your scores.... more
A home sale cannot be conditioned on the use of a specific title insurance company. Violators can face stiff penalties. March 2013 | By Phillip L. Schulman It’s not unusual for a listing agent to have
I recommend to request all your files IF he would release your credit report move on to another loan officer Professionals need be responsive .. no matter how sick I maybe ... I still respond within 4 hours - or + .
Pro's their business is critical for response to their clients... Rookies don't understand business practices why many don't last long in any professional practice
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
I doubt you will get a loan with any chance of it also paying off any other loans. You need to go visit a loan officer and speak to them about your options. Asking that here will only get you guesses.... more
I would be happy to help you. We're able to finance FHA loans with credit scores as low as 580 with only 3.5% down and no investor overlays. Feel free to apply online at www.rhlapps.com/kjones or give me a call. :)
I would recommend talking with The Bomar's with Cornerstone Home Lending, they are honest and upfront and will be truthful with you about what you qualify for and what needs to be done. You can do the application on their website at www.TheBomarTeam.com.
Are you looking to buy before you sell? If you buy before you sell the requirements are completely different than if you are planning on waiting until you sell your home before you purchase. If you sell before you buy then from the information you have given I don't see any problem. If you buy before you sell then you they will be looking at you as an investor. My personal opinion would be not to mess with a bridge loan, the only people I have talked with who have had bridge loans ended up in bad situations. I'm not a mortgage expert though, that is why I would suggest talking with The Bomar Team.... more
Buyer Loan Question: What can I do to get more (or better) quotes for my loan request? My Answer: Email Mike Clutts at: email@example.com, he will be able to help you with another quote.
Section 8 Voucher Acceptance Renter Question: I'm looking for a house to rent in 74145 area, have a child already in Salk Elementary and want to keep him there. Needs to accept Section 8 voucher
Aaron unfortanately some bank owned listings are in such bad shape or need more work/repairs than any bank will allow in order to give a mortgage on that properties. FHA is the srictest and requires everything to be complete and repaired. Conventional loans have a lower standard but do have a minimum set of guidelines such as water muct work and heating system must be functional. You should start with your loan officer to get the guidelines for the loans that you quailify for.
Some listings are listed as cash only sales, unfortanately unless you have cash, the banks will not consider any offers with a financing or inspection contingincy.
Please see my blog with a full list of tips and advice for buying bank owned homes.... more
VA loans are one of the best types of loans you can get! And so they should be to honor the service that you have preformed for our country! Please let me know what type of home you are interested in. My company pays closing costs, and since the VA will pay your down payment you would have little to no out of pocket expense. Audra Brown 918-200-5637!... more
People keep hearing that it’s cheaper to buy now than it was several years ago. We were asked if we could explain how this was possible. If you bought a $200,000 home in September of 2006 the interest
ITEMS NEEDED FOR LOAN APPLICATION A file is not considered an application until it contains certain supporting documents. These are the items the borrower supplies to verify information in their