Financing in Anne Arundel County : Advice

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Justin Fitzh…, Other/Just Looking in Independence, OH
The period to submit feedback on the FHA’s proposed “Supplemental Performanc... Read more
Blogged Wed Jun 11, 2014 by Justin Fitzhugh Market Conditions Financing
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Maria Avella…, Real Estate Pro in Fort Meade, MD
  Posted on December 4, 2012 09:39 PM by Maria Avellaneda, Licensed Realtor ... Read more
Blogged Tue Dec 4, 2012 by Maria Avellaneda Financing Credit Score
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Maria Avella…, Real Estate Pro in Fort Meade, MD
If you owned a home in Fort Meade MD area and are underwater you have to HARP! P... Read more
Blogged Tue Oct 30, 2012 by Maria Avellaneda Financing How To...
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Lewis Poretz…, Real Estate Pro in Annapolis, MD
Are you thinking of remodeling?Want to purchase a fixer upper and get money to f... Read more
Blogged Sat Jul 17, 2010 by Lewis Poretz - MARYL... Financing
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Jill and Matt…, Real Estate Pro in Dunkirk, MD
Jill and Matt Crofcheck answered:
My fiance and I both were laid off last year and have low credit scores. We need to move by june.
Hello, we are local Maryland agents here...

It is a tough reality now that banks do want to see higher credit scores than they used to in order to finance you for a loan. Most banks ... more
0 votes Share Flag Wed Mar 13, 2013 Financing in Anne Arundel County
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Can you use an FHA 301k construction loan to buy an REO property?
the key is no contingincies followed by teh least amount of contingincies. The banks will choose a lower offer that is guaranteed to close with no contingincies over one loaded with ins ... more
0 votes Share Flag Sun Feb 10, 2013 Financing in Annapolis
Fred Glick, Real Estate Pro in Los Angeles County, CA
Fred Glick answered:
My husband and I are looking to purchase a new home. Our situation is a bit complex and we are looking for some advice from seasoned brokers.
Sorry, HobbieCat,

This would never go through the Fannie Mae or Freddie Mac computer approval. Manual overrides are non-existant.

You can hopefully get more income for your renta ... more
0 votes Share Flag Thu Dec 13, 2012 Financing in Annapolis
Fred Glick, Real Estate Pro in Los Angeles County, CA
Fred Glick answered:
How long does underwriting typically take?
All lenders are different. Ask the processor to give you an approximation.
0 votes Share Flag Fri Mar 22, 2013 Financing in 21122
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
What can buyer do when an appraisal amount is lower than the sale price?
You should have your realtor speak to the seller. The seller should be selling the house for the appraised amount. If you went FHA the appraisal will stay with the house for 6months so ... more
0 votes Share Flag Sun Aug 5, 2012 Financing in Anne Arundel County
Allan Erps, Real Estate Pro in 10954
Allan Erps answered:
can I get approved for mortgage with middle score 625 , I make 100/yr, have student loan and couple credit cards with very low balances .?
FHA Loan may be best venue for you at this time if you wish to buy now
0 votes Share Flag Thu May 31, 2012 Financing in Pasadena
Christina Yo…, Real Estate Pro in Anne Arundel County,...
Christina Yoon answered:
Is it possible in today's mortgage market to get 30yr fixed interest loan with 4% interest, by only paying 5% as a down payment.?
I'm not a lender, but YES. I am working with a buyer client who qualified for a 4.--% 30 yr fixed with 3.5% down. If you would like the referral from the loan officer we spoke with at ... more
0 votes Share Flag Thu Jan 17, 2013 Financing in Crofton
Stieg Strand, Real Estate Pro in 55317
Stieg Strand answered:
Hello I am upside down with my home and can't afford it any longer due to illness what are my options
Michelle,

I highly recommend contacting The Hope Now Alliance. I would call their number 888-995-HOPE and you can talk to a counselor and they will ask you a few questions and then f ... more
0 votes Share Flag Thu Nov 10, 2011 Financing in Maryland City
The Roskelly…, Real Estate Pro in Odenton, MD
The Roskelly Team answered:
nvr mortage/ how good are they compared to other mortgage. companies
Hi Naim,

It is always best to review and compare at least two lenders. Have them give you a full estimate of costs. Rate alone isn't the whole story. You need to see a breakd ... more
0 votes Share Flag Mon Feb 21, 2011 Financing in 21144
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Debra (Debbie) Rose answered:
Is Home Ownership still the American Dream?
not for those in which it has become the American nightmare
0 votes Share Flag Mon Feb 14, 2011 Financing in Annapolis
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
Can anyone suggest a mortgage company that will write a loan for a co-op in Pasadena?
I can check that for you tomorrow to make sure, and let you know if NCB, National Cooperative Bank, will lend there. You may find a local credit union who will lend there. You can also ... more
0 votes Share Flag Sun Aug 22, 2010 Financing in 21122
Tean Wong, Real Estate Pro in Boston, MA
Tean Wong answered:
When will financing regulations/requirements for the purchase of condos become less restrictive?
I don't think the bank can prevent any buyers or investors from buying a condo with 100% cash. The bank is trying to get involve in the Condo association that has less reserve, and ... more
0 votes Share Flag Fri Jul 16, 2010 Financing in 21076
Drahn, Real Estate Pro in Edgewater, MD
Drahn asked:
Does anyone have a good list of portfolio lender who will lend in MD and work with brokers? drahn@union1st.com I have groups of investors who are buying the "shells" in Baltimore and are rehabbibg them and then turning them into rental units in their rental portfolios. These would go ...
0 votes Share Flag Mon Oct 5, 2009 Financing in Edgewater
Dan Castagna, Real Estate Pro in Mount Laurel, NJ
Dan Castagna answered:
Question about HELOC
Youngster,

While i do not know the legality of raising the rate the HELOC, it is still considered a mortgage since it is liened against the property. i would go back over the paperw ... more
0 votes Share Flag Tue Aug 25, 2009 Financing in Annapolis
Rob Spinosa, Real Estate Pro in Mill Valley, CA
Rob Spinosa answered:
How much assets need to get a good loan?
Latanya,

The best short answer is, "it depends."

Let's separate assets from down payment for a minute. Many other posts here on Trulia have addressed the down payment issue, so I ... more
0 votes Share Flag Tue Apr 21, 2009 Financing in 21401
Bill Wootan's…, Real Estate Pro in Waldorf, MD
Bill Wootan's Team One answered:
Is there a good web site to find out about 203B rehab loans?
I suggest you contact a lender that does FHA 203K loans (the rehab loan is K, not B) and they can guide you - previously they were hard and expensive to do, but they have streamlined th ... more
0 votes Share Flag Wed Nov 18, 2009 Financing in Annapolis
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