Financing in 20147 : Advice

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Julie Gray-R…, Real Estate Pro in Reston, VA
Julie Gray-Roller answered:
Refinance with cash-out; If I have home which is fully paid for. If I want to use the equity in the house. What is the max % that I could take out ?
I assume you plan to purchase another property when you cash out? Since this is an investment property and is fully paid that is for you can take out as much as you wish. The condomi ... more
0 votes Share Flag Sat Jan 12, 2013 Financing in 20148
Sonal Goda, Real Estate Pro in 20190
Sonal Goda answered:
Investment Condo -- Condo Questionnaire -- Condo docs does not specify Number of units reported as Investor/rentals ?
Hi JD - you can call the condo association and ask them if they are legally allowed to interpret that question differently. Also, I know of a bank that has a portfolio product where th ... more
0 votes Share Flag Sat Jan 12, 2013 Financing in 20148
Nick Pakulla, Real Estate Pro in Rockville, MD
Nick Pakulla answered:
Hi I have a ratified contract, I'm looking for lenders who offer 80-10-10 option. The house price is more than 550K but less than 600K.
Our bank offers 80/10/10 loans, these are good if you can pre-pay the second in the first couple of years. Also, you may want to consider lender paid mortgage insurance on a 90% single ... more
0 votes Share Flag Thu Aug 30, 2012 Financing in Ashburn
Jason Stevens,  in Englewood, FL
Jason Stevens answered:
Better to payoff all debt or keep cash for down payment?
Newtove - I'm sure you will get all kinds of responses with this question but I would ask your loan offer what to do. By the sounds of it you will get approved for a mortgage even ... more
0 votes Share Flag Thu Sep 22, 2011 Financing in Ashburn
Danilo Bogda…, Real Estate Pro in Reston, VA
Danilo Bogdanovic answered:
Cashout re-finance on investment Property in Ashburn, VA
The only person that can answer the question of what interest rate you would get is a loan officer. And that's only after they've taken a look at your financial situation incl ... more
0 votes Share Flag Fri Oct 2, 2009 Financing in Ashburn
Peggy James, Real Estate Pro in Lake Ridge, VA
Peggy James answered:
We have a 5 year ARM that is up in two years. When we originally bought the house, we planned to move out?
Hi,

Chances are you wil not be able to refinance, unless of course you put a signifigant amount down when you purchased originially. So be prepared for your loan to convert to the f ... more
0 votes Share Flag Wed Aug 26, 2009 Financing in 20148
Lanna, Home Buyer in Maryland
Lanna answered:
We are trying to buy a townhouse in Ashburn, VA. we are having trouble getting approved for a loan because
Sorry the 2nd line should say...previously we were looking in Maryland.
0 votes Share Flag Sun Jun 1, 2008 Financing in Ashburn, VA
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