Financing in Buffalo : Advice

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Claudia Mull…, Real Estate Pro in Fremont, CA
Claudia Muller Gravelle answered:
would I qualify for a larger mortgage if I was purchasing a muti family house?
When qualifying for investment property, the lender will credit you 75% of the proposed rent. This portion of the rent will be utilized to off set the proposed PITI for the home. Only ... more
0 votes Share Flag Thu May 22, 2014 Financing in 14211
Debbie Macke…, Real Estate Pro in Windham, NH
Debbie Mackenzie answered:
Is it possible to get a mortgage on a seasonal home with only 10% down? The cottage has heat but the water comes from the lake.
Who did you try to go through? I have the same issue but with a drilled well, in NH. I cannot find anyone to do it.
0 votes Share Flag Mon Dec 9, 2013 Financing in Buffalo
Jason Jurek, Real Estate Pro in Buffalo, NY
Jason Jurek answered:
I filed Ch7 two years ago with my ex. My fiance has never filed bankruptcy. Will my financing options be better if I am buying a home with her?
It's best to call a Mortgage Specialist. I can recommend a few if you like. You can reach me at 716-997-3444 or
0 votes Share Flag Wed Jul 10, 2013 Financing in Buffalo
Trevor Curran, Real Estate Pro in Bronx, NY
Trevor Curran answered:
i want to buy a house in buffalo price around 45000.oo i dot have good credit meaning is bad please tel me any alternate way to buy a house
Good morning maheniraja,

We see many credit reports with low credit scores (anything less than 620), and often many scores in the 500's. This is BAD credit. If you are one of the f ... more
1 vote Share Flag Tue May 28, 2013 Financing in Buffalo
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Debra (Debbie) Rose answered:
Since the bad lending from the recent past, can anyone tell me if they are still writing no income verification loans (with 20% to 30% down)
you'll have to check with local lenders in FL, but there is only 1 bank in my area that still offers no income verification loans - with 40% down.............that probably won't be arou ... more
0 votes Share Flag Sun May 19, 2013 Financing in 14210
Colleen Kuli…, Real Estate Pro in Buffalo, NY
Colleen Kulikowski answered:
how much money should you have on the side for a down payment and closing costs and all other fees to buy a house?
Expense that you will have in addition to Your down payment include:you application fee for your mortgage, your home inspection, your attorney, home owners insurance, miscellaneous clos ... more
0 votes Share Flag Sun Apr 7, 2013 Financing in Buffalo
Tony Garcia, Real Estate Pro in Charlotte, NC
Tony Garcia answered:
how much money should you have on the side for a down payment and closing costs and all other fees to buy a house?
you can buy with as little as 3% down (conventional financing) or 3.5% with FHA (assuming it is a primary residence. in Buffalo NY closing cost will be around 3% as well. The way FHA ... more
0 votes Share Flag Sat Apr 6, 2013 Financing in Buffalo
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Any lenders in Buffalo giving out mortgages to recently self employed people with 630 credit score? If not, any quick credit score fixes you can refer
The best two tips first are there are no quick credit fixes. that is why credit scores are used becuase they are stable. The best way to raise a credit score is to pay on time and keep ... more
0 votes Share Flag Sat Mar 30, 2013 Financing in Buffalo
Craig Johnson, Home Buyer in Killeen, TX
Craig Johnson answered:
I currently own my own home but am looking to find a larger home as RTO or Seller Finance in the W.S., Lancaster, Hamburg areas. How to I get started?
In order to do a RTO you will have to be able to pay for whatever the expenses is on the property plus the cash flow that you SHOULD be looking to receive. Otherwise, why are you invest ... more
0 votes Share Flag Sat Mar 30, 2013 Financing in 14224
Voices Member,  in
Voices Member answered:
FHA loan approval with 1099 income
You should definitely be able to make this work by presenting the correct information and documentation at the time of application. Make sure you have the complete package ready for th ... more
1 vote Share Flag Thu Oct 20, 2011 Financing in Buffalo
Ryan Walley, Real Estate Pro in Amherst, NY
Ryan Walley answered:
Does anyone know where I can get a home equity loan or a HELOC on a rental unit? I am having trouble finding one.
The only trouble you should have is the 20-25% equity requirement, and that the rate will be significantly higher than one on your primary residence. Other than that, HSBC and Key Bank ... more
0 votes Share Flag Fri Sep 16, 2011 Financing in Buffalo
Bill Lounds, Other/Just Looking in Las Vegas, NV
Bill Lounds answered:
I am Doing Lease Options and I am looking for a Mortgage Broker that will work with me to get financing for my tenant buyers..
Hello Gary ,
My name is Bill and I believe i may have a possible sollution to your financing issues.
Or at lease an alternative that may be benificial to both you and your tenants. ... more
0 votes Share Flag Tue May 17, 2011 Financing in Buffalo
Ruth & P…, Real Estate Pro in 95030
Ruth & Perry Mistry answered:
0 downpayment?
Hi Sara

If you have been a Veteran or the home is in a USDA zone.

Of course you can also pursue hard money lenders.

Good luck.
0 votes Share Flag Sun Apr 10, 2011 Financing in 14207
Tleatherbarr…, Home Owner in Buffalo, NY
Tleatherbarrow answered:
I am applying for a Refi. Bank lowered appraised valu that the appraiser had come up with (which means I get less cash out). Can they do this?
Andrea Mills - you didn't answer the question. I am not ignorant. I know it's the banks money. And they will make lots of my money if they make the loan. I am pretty sure ... more
2 votes Share Flag Fri Apr 1, 2011 Financing in Buffalo
MDC, Real Estate Pro in Buffalo, NY
MDC answered:
I graduated last year, took a new job this year, have no credit, want to buy a small but nice 15000 house i found, n have 5k savings. help me finance!
Hi Auroracouture,

It's great that you're looking into owning, it's much cheaper than Renting here in Buffalo NY, especially if you bought a double, live in one unit an ... more
0 votes Share Flag Fri Jan 21, 2011 Financing in Buffalo
Ryan Walley, Real Estate Pro in Amherst, NY
Ryan Walley answered:
I need Name and Number of a good investment Mortgage Brookers in Buffalo NY that also do home equity loans
Lots of brokers and bankers are doing investment loans now - with a minimum of 20-25% down based on credit.

I have used Matt Short, broker at Nickel City Funding recently - 716-558-5 ... more
0 votes Share Flag Tue Sep 14, 2010 Financing in Buffalo
Mike B, Real Estate Pro in Raritan, NJ
Mike B answered:
I currently rent in NYC and am buying my first home in the country, 2 hours away. My plan is to live in the country house from around May - Oct and
It could be considered a second home, which is priced as a owner-occupied residence. Contact me for more details.
0 votes Share Flag Fri Feb 19, 2010 Financing in Buffalo
Greg Cook 95…, Real Estate Pro in Temecula, CA
Greg Cook 951-265-4532 answered:
I am a w-2 employee who gets my salary, commissions and bonuses through payroll and get w-2'd at the end of the year. My car and phone
The lender's basic rule for determining income is "if you don't declare it, you can't use it". Write-offs are considered as deductions to income. You probably f ... more
1 vote Share Flag Mon Oct 19, 2009 Financing in Buffalo…, Real Estate Pro in Dallas, TX Dallas Realtor answered:
hello, are there any lenders out there for people with credit scores of 579?Only looking for 70000 loan.thanks
More lenders require a 620 credit score and above, 3.5% down payments, 2 years employment.

If your scores are low can't qualify resolve the issues negative credit issues, reduc ... more
0 votes Share Flag Mon Oct 19, 2009 Financing in Buffalo
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Looking for loan, 600,000 in equity, clear title, appraised in Feb 09, NC, Poor credit, self-employed
For an accurate answer if you haven't already done so visit any qualified loan officer, see what options you may have and take it from there.
0 votes Share Flag Mon Oct 12, 2009 Financing in 14207
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