Financing in 38106 : Advice

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Daniel Sa, Real Estate Pro in Columbus, OH
Daniel Sa answered:
FHA Manual Underwriter
This depends on the Lender you are working with and how well staffed they are, etc... Whether they underwrite in house or ship your information to another Lender to underwrite. If it's ... more
0 votes Share Flag Sat Feb 23, 2013 Financing in Memphis
Mitanni Spru…, Real Estate Pro in Memphis, IN
Mitanni Spruill answered:
If I know that a property is in preforeclosure and really want to go forward trying to purchase or get ahead on getting a bid What 1st steps do i take
Contact a Realtor to offer assistance in submitting an offer directly to the seller. Contact my office at 1.888.854.1222 x1 or email.
0 votes Share Flag Thu Oct 25, 2012 Financing in Frayser - Raleigh PD
Jason &…, Real Estate Pro in 38002
Jason & Laura Wallace answered:
Are there any lenders in Memphis that will finance a minimum credit score of 580? If so, what is the name of the bank and there requirements?
Yes Depaula! I have a few lenders that might be able to help you.

Call us today and I will send you their contact information.

Laura and Jason Wallace
WallaceTeamSellsMemphis.co ... more
0 votes Share Flag Thu Oct 4, 2012 Financing in 38135
Maggie Armst…, Real Estate Pro in Memphis, TN
Maggie Armstrong answered:
Bought investment property in 2005 that we rent out to tenants. Have great credit, positive cash flow and want to refinance this prop. in tn.
Hello, Please give me the address of the property you are concerned with and your contact info and I will be more than happy to let you know the current market value of your home by way ... more
0 votes Share Flag Wed Oct 26, 2011 Financing in Memphis
Donna Skaarer, Real Estate Pro in Memphis, TN
Donna Skaarer answered:
if i'm tryin to nsave my house from forclosure whats my options if i'm 4 months behind
Who is your mortgage company? Have discussed a loan modification with them to lower your note? If the mortgage company took TARP funds last year, they are obligatedby law to work with y ... more
0 votes Share Flag Wed Jun 15, 2011 Financing in Memphis
Shannon Feol, Real Estate Pro in Memphis, TN
Shannon Feol answered:
Is it possible to obtain 30 year mortgage for investment properties for overseas investors?
I do not know of any "banks" that provide mortgages for overseas investors, however I do work with a group that offers private financing for non-USA investors and with flexibl ... more
0 votes Share Flag Wed Apr 6, 2011 Financing in Memphis
Todd Harris, Real Estate Pro in Memphis, TN
Todd Harris answered:
Are there anyone who offer hard money.?
Contact Boswitz Brothers on Union Ave. They have an established reputation in the business.
0 votes Share Flag Sat Dec 11, 2010 Financing in Memphis
Vanessa, Real Estate Pro in Memphis, TN
Vanessa answered:
Is it possible to combine THDA down payment assistance with the FHA 203K loan to purchase and rehab a REO/Foreclosure?
We do the 203k loans and the THDA loans. I am not sure if you can combine them but I am checking for you. On teh 203k loan you must have a minimum of $5000 repairs to roll in and you ... more
0 votes Share Flag Tue Dec 28, 2010 Financing in Memphis
Jason Stevens, Real Estate Pro in Englewood, FL
Jason Stevens answered:
how do you calculate closing cost?
As a buyer or a seller?? As a buyer are you paying cash or financing?

A lot of that will depend on what you negotiate in your contract and what costs would be associated with your le ... more
0 votes Share Flag Tue Jul 27, 2010 Financing in Memphis
Julia Odom, Real Estate Pro in Chattanooga, TN
Julia Odom answered:
Are there any programs or grants that can help with down payments or closing costs?
THDA is the best program in TN.
0 votes Share Flag Sun Feb 21, 2010 Financing in Memphis
Rick Benoit, Real Estate Pro in 60559
Rick Benoit answered:
Is there any kind of down payment or closing cost assistance for first time home buyers?
5/3 Bank offers the Freddie Mac Good Neighbor loan to healthcare workers, only a 3% down payment is required for borrowers that are at or below the Median income level ( $37,207 for Mem ... more
0 votes Share Flag Wed Mar 3, 2010 Financing in Memphis
MLE Realty &…, Real Estate Pro in Memphis, TN
MLE Realty & Property Manageme answered:
can anyone recommend a mortgage broker for the memphis area who can help with investment property loans?
I would highly recommend Al Pickett at Community Mortgage. He is extremely knowledgeable, competent, and trustworthy. He can be reached at al@communitymtg.com.
0 votes Share Flag Tue Dec 28, 2010 Financing in Memphis
Voices Member,  in
Voices Member answered:
What is the stimulus pkg. re: a low loan rate if you earn less then 31% of your mtge.?
Kathy, I believe you are referring to the making home affordable modification program. You can visit the link below for more specific information and you would need to contact your lend ... more
0 votes Share Flag Tue Sep 29, 2009 Financing in Memphis
Lesley Denney, Real Estate Pro in Millington, TN
Lesley Denney answered:
Is it possible to receive a 203K in Memphis for under $50,000? I would like to purchase a piece of property
Good Afternoon Home Buyer,

You would be wise to contact a mortgage adviser and see how you would go about doing this.. I am sure you have the name of one or you can contact your bank ... more
0 votes Share Flag Sun Jul 19, 2009 Financing in Memphis
Memphis Owne…, Real Estate Pro in Tennessee
Memphis Owners answered:
First time home buyer worried about credit before jumping into market.
Based on what you've written, you're a perfect candidate for an FHA or USDA loan-- no strings attached. Certainly we all were less responsible at age 18! :)

Now it's 8 years later ... more
0 votes Share Flag Wed Jul 1, 2009 Financing in Memphis
Dana Schuster, Real Estate Pro in 70458
Dana Schuster answered:
my credit score is 506
in this market you need a 620 although there are somelenders who can do a 580-585. This with an FHA loan with 3.5% down payment. For a conventional loan you will need a 720.
0 votes Share Flag Thu Jun 18, 2009 Financing in Memphis
Gerald Willi…, Real Estate Pro in Collierville, TN
Gerald Williams answered:
my credit score is 506
Kelly,

That is a difficlut question to answer. The credit score is one part of the equation but the loan to value ratio is also an important part. Most conventional loans will req ... more
0 votes Share Flag Thu Jun 18, 2009 Financing in Memphis
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Can we qualify for a loan with my credit score being zero?
Wrong.

Your credit score is not zero. Your statement that it is shows that you need to have a better understanding of how credit works. And you need to determine your credit scores a ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in Memphis
Ken Herrera, Real Estate Pro in Las Vegas, NV
Ken Herrera answered:
i would like advice on refinancing my home i have tried bu they say my debt ratio is too high i need help
Hello Idabonner,

Has any lender given you a scenario where you pay off some of that debt through the refinance? Check and see if that is possible. The lending market is tight these d ... more
0 votes Share Flag Mon Mar 2, 2009 Financing in Raleigh, Memphis, TN
Michelle Dos…, Real Estate Pro in Germantown, TN
Michelle Doscher answered:
I am looking to buy a home for my mother in the Whitehaven area of Memphis. Currently the house needs some
Hello E.B.,
Yes, there are still loan programs out there that will allow this. However, the days of 100% financing plus an additional amount for repairs and upgrades seem to be gone. ... more
0 votes Share Flag Tue Apr 22, 2008 Financing in Whitehaven-Coro Lake, Memphis, TN
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