Financing in Phoenix : Advice

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Emily Medvec, Real Estate Pro in Santa Fe, NM
Emily Medvec answered:
Any Lenders able to do financing for foreign investors? Canadian and Australian investors. They do have a few properties that are free and clear.
We have a local Santa Fe Community bank lender who will finance foreign investor buyers interested in their REO (bank owned) properties with a 50 percent downpayment.
0 votes Share Flag Sat Apr 21, 2012 Financing in Phoenix
Irina Karan, Real Estate Pro in Aventura, FL
Irina Karan answered:
Financing for Canadians to purchase a vacation home and rental homes. Rates and application process.
Hello Sherry,

Check out Wells Fargo and any Canadian Bank operating in the area you are buying. Many have branches in the US. However, investment properties are different...and most ... more
0 votes Share Flag Mon Mar 12, 2012 Financing in Phoenix
Adrian Provo…, Real Estate Pro in Atlanta, GA
Adrian Provost answered:
Canadian looking for a lender small apartment complex (8-14 units) with 30% down at reasonable rates~ Phoenix Area?
I represent a nation-wide network of private capital investors that can get your real estate or commercial construction project funded in all 50 states in a timely manner. My company ta ... more
0 votes Share Flag Sun Mar 4, 2012 Financing in Phoenix
Roswell Moore…, Real Estate Pro in Scottsdale, AZ
Roswell Moore, C.M.P.S. answered:
I am in process of refinancing
Hi Alok,

You locked into a great rate! Once you lock, you are protected from the the rise interest rates & you forego your ability to ride the market in search of a lower rate. ... more
0 votes Share Flag Fri Feb 17, 2012 Financing in 85024
Ann Griffin, Real Estate Pro in Mesa, AZ
Ann Griffin answered:
I would like to purchase a home in arizonia but not move there until I retire in 5 years Is this possible with VA Also looking at short sales,forclos
Hi Jo,

You cannot buy with a VA loan unless it will be your primary residence. And if you wish to buy as an investor, you will need to have a substantial down payment.

For you per ... more
0 votes Share Flag Sun Feb 12, 2012 Financing in Phoenix
Deborah Garv…, Real Estate Pro in San Diego, CA
Deborah Garvin answered:
Is there any down payment assistance for an FHA loan for a family who has a gross income over $70,000 a year? Is there a lender who is best for this?
Rob,

Your best bet is to start with a lender approved to originate DPA (down payment assist) mortgages. Bear in mind that most DPA loans are based upon median income of your area. ... more
0 votes Share Flag Wed Feb 1, 2012 Financing in Phoenix
Matt Puzz, Other/Just Looking in Phoenix, AZ
Matt Puzz answered:
Is there a financial institution that can let open line of credit or equity loan on investment properties?
sorry the phone number for Rick or Josue is 480-755-0974

Matt Puzz
Licensed Loan Originator
Amerifirst Financial, Inc.
1910 S. Stapley Drive #209
Mesa, AZ 85204
Direct: 602 ... more
0 votes Share Flag Thu Jan 5, 2012 Financing in Phoenix
Ann Griffin, Real Estate Pro in Mesa, AZ
Ann Griffin answered:
can I open escrow in AZ for a private loan on real estate in Canada?
Terry, Canadians don't use Escrow. You must go through a Canadian company when dealing with Canadian real estate, usually a real estate solicitor (note to other posters: lawyers in ... more
1 vote Share Flag Wed Jan 4, 2012 Financing in Phoenix
Deborah Garv…, Real Estate Pro in San Diego, CA
Deborah Garvin answered:
Divorced and just started working again, can I get approved for a mortgage?
@Susan brings up a good point. My previous comment assumed you would be relying solely upon your income for qualification. If alimony or child support payments are needed to qualify, ... more
0 votes Share Flag Thu Dec 22, 2011 Financing in Phoenix
Rob Riforgia…, Real Estate Pro in Manhattan, KS
Rob Riforgiate answered:
I'm a Canadian living in Canada with my husband who is American. We would like to buy a small home or Condo in Arizona.
Hi, Jenny. It sounds as if your husband is still a US citizen. This is good. If he has renounced his US citizenship this will prove more difficult.

1st things 1st--you definitely w ... more
1 vote Share Flag Sat Dec 17, 2011 Financing in Phoenix
Kayne Thrift,  in Phoenix, AZ
Kayne Thrift answered:
Can some of the lenders out there give me an update on the requirements for a USDA loan? I have verified that the property area qualifies.
Just want to update the comment regarding pools and USDA loans. For years properties that included an in-ground swimming pool were deemed ineligible for a USDA Rural Development Loan. ... more
1 vote Share Flag Wed Dec 14, 2011 Financing in Phoenix
Annette Levi…, Other/Just Looking in New York, NY
Annette Levinson answered:
Where Can a Canadian find a loan with relative low interest of around 5-6%?
If it is a second home no problem but an investment property would need to go private financing.
0 votes Share Flag Fri Dec 9, 2011 Financing in Phoenix
Jamie Levy, Real Estate Pro in Phoenix, AZ
Jamie Levy answered:
Does anyone have a positive experience with the NACA mortgage process. I am 6 months in and it has been very frustrating
If you are using NACA for their loan modification program my only experience was clients you attemped to do a loan modification with them over I believe a year unsuccessfully. I only kn ... more
0 votes Share Flag Wed Nov 9, 2011 Financing in Phoenix
Dede Hanka, Real Estate Pro in Arden Hills, MN
Dede Hanka answered:
I am underwater over $100,000
If you want to stay in your house and lower your payments by half, you may want to consider a house lease back.
www.houseleaseback.com
http://www.youtube.com/watch?v=aluQg68ucZQ
0 votes Share Flag Sat Oct 22, 2011 Financing in Phoenix
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I have great credit, low income, but only need a small home loan of around $54,000. Will the low income hurt me?
Sue, it depends on:

1. How low your income is/how much is your income
2. How much your other monthly debt payments are (car, credit cards, student loans, etc.)
3. How much of a ... more
0 votes Share Flag Sat Sep 10, 2011 Financing in Phoenix
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Buying a home for my child, will take out a mortgage. They will pay all bills. Is there a tax concern for me, I currently own my home outright. Thx
1000% (not a typo, that is one-thousand) you need to speak with a CPA, tax professional or the IRS. The way I see this, and I am not even a CPA, is that even if your daughter and her f ... more
1 vote Share Flag Wed Aug 10, 2011 Financing in Phoenix
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Is it possible to get a home loan with 20% down after a foreclosure?
It depends on how long it's been after the foreclosure and what the cause of the foreclosure was.

For the primary loan programs that are being offered today...

• FHA &a ... more
0 votes Share Flag Thu Jul 28, 2011 Financing in Phoenix
Brian Anders…, Real Estate Pro in Tempe, AZ
Brian Anderson answered:
Where can I find a CPA to do a verification of employment for a mortgage?
Thanks to all those who answered. Here is the outcome:

Buyer got a signature from a relative who is a CPA. They signed at the bottom of the document as "reviewed by xxxxx, CPA&q ... more
0 votes Share Flag Mon Jul 18, 2011 Financing in Phoenix
Bill Parker,…,  in Scottsdale, AZ
Bill Parker, CPA* answered:
Does exisisting mortgage count towards DTI after Bankruptcy? Did not reaffirm,just making payments to avoid forclosure.
Hi Bike2Run:

I agree with Sonny: "Contact Geoff Khotim at 480-219-2139 or send an email to geoff@khotimlaw.com. He's the best BK attorney I know."

You first need t ... more
0 votes Share Flag Sun Jun 19, 2011 Financing in Phoenix
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Any government programs for responsible homeowners under water with (Chase) FHA loan and excellent credit taking?
@ Tony A - if you can afford to cover the differential between your housing payment & what you'd be charging a tenant, along with the new mortgage payment you'd have, then ... more
0 votes Share Flag Sun Jun 19, 2011 Financing in Phoenix
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