Financing in Woburn : Advice

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Josh Marks, Real Estate Pro in Chicago, IL
Josh Marks answered:
Can I get preapproved for a loan from any lender and then keep searching for a better loan rate? Do preapprovals from multiple lenders hurt my credit?

You have a 30 day window for lenders to run your credit. Keep in mind that rates change on a daily basis/ certain lenders can be misleading.

Please feel free to give me ... more
0 votes Share Flag Wed Jun 26, 2013 Financing in 01801
Janine Elkho…, Real Estate Pro in 01801
Janine Elkhoury answered:
If a family of 8 has bad credit due to a foreclosure in Michigan, how can they qualify to rent/buy another h
Renting might be easier until you establish a good credit. I have seen some owners understand and a nice explanation letter sometimes work.
0 votes Share Flag Wed Jun 26, 2013 Financing in 01801
Janine Elkho…, Real Estate Pro in 01801
Janine Elkhoury answered:
Are you aware that the bank lending process is taking more time? How long do you need for a closing??
Lenders do make a difference by the whole process is longer more demanding.
You should be uptodate with your lenders and not take a wild guess. Make sure you contact your buyers lende ... more
0 votes Share Flag Wed Jun 26, 2013 Financing in 01801
Adam Krzesni…, Real Estate Pro in Queens County, NY
Adam Krzesniak answered:
How long is a loan pre-approval usually good for? I don't want to feel pressured into buying a home by this.
It is valid for 90 days.
Good luck in choosing the right property.
0 votes Share Flag Mon Jul 9, 2012 Financing in 01801
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
One lender in a short sale, the 20% of an 80/20 deal. What percentage of what they are owed are they most likely to approve?
The second will ask for as much as they can get.
The primary lender will direct the transaction, however.
The primary usually has an amount that they "allow" for the second if they ar ... more
0 votes Share Flag Sun Jun 3, 2012 Financing in Woburn
Rui Cabral, Home Buyer in Andover, MA
Rui Cabral answered:
How do I buy a house with no income (job loss) but have enough cash assets to even pay cash for new house.?
I will call you Ken. I like to know how much higher are the rates going to be and the
Terms of the transaction.

Thanks for nuggets of wisdom folks. This is great and let us just ... more
0 votes Share Flag Fri Sep 25, 2009 Financing in 01801
NonRealtor, Other/Just Looking in 23456
NonRealtor answered:
Need help with a negative amortization loan. I have a 1st & 2nd mortgage on my property. 1st is $520K, 2nd
Hi Lisa,

Sorry to hear about your situation. I'm not a realtor but here is a post from a professional like yourself. Maybe Katie can help you.

---------------------------------- ... more
0 votes Share Flag Sat Nov 8, 2008 Financing in Woburn
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