Financing in 38671>Question Details

Malon Foster, Home Buyer in 38671

I read that Re-Max will help it's customer get financing, and that you have a program to help with down paymen

Asked by Malon Foster, 38671 Fri Aug 24, 2007

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Hi again Malon:
Your question regarding KW and now Re-Max makes me think you are barking up the wrong tree. You should be investigating "mortgage lenders" not real estate agencies.

Develop your relationship with the money person - get yourself qualified up front - find out your "buying power" and "buying potential".

Real Estate Agency's can refer you to lenders - but you should look into at least three. Be wary of any sub-prime conditions - and know what institution wants to offer you funds. Read the fine print; and be realistic about the price of the home you seek.
1 vote Thank Flag Link Sat Aug 25, 2007
As an agent myself, I only refer clients to lenders. Don't ever rely on mortgage info. from anyone but a certified lender and always get 3 good faith estimates.
0 votes Thank Flag Link Wed Sep 12, 2007
Malon
Start with Bank of America.
Be very careful using a Hybrid Agent.
I myself are allowed to do Loans. I use this knowledge to help with creative seller financing. If you happen to be a Grade A 660+ fico 20% down I would be glad to put you into a BOFA loan. For me there is nothing else. I have access to private money, but you are gonna pay. You may qualify for FHA. I do not do FHA. to much work not enough money.
There are a lot of Realtors who do not like Hybrid Agents and they have very valid reasons.
Again start with B of A and go from there
0 votes Thank Flag Link Sat Aug 25, 2007
Mr.P, Other/Just Looking in Arizona
MVP'08
Don't know if Bank of America is in Mississippi or not but they have a program that you may be interested in looking into. Also, if you bank with a local credit union, often you may be able to obtain a good interest rate and terms, depending upon your credit history and score.
0 votes Thank Flag Link Sat Aug 25, 2007
TED SHOOP, Real Estate Pro in Buford, GA
MVP'08
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Most realtors have relationships with lenders and can point you in the right direction to ones they have used in the past and performed well. The lenders typically know the best way to work on down payment and can advise you if you qualify for programs such as Neamiah or Genesis.
0 votes Thank Flag Link Fri Aug 24, 2007
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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