Financing in Atlantic County : Advice

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Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
I have been in my primary home for over 8 years. How can purchase a second home using the quity from my first home?
D.Connelly,
Start by speaking with a lender. Depending on your finances, equity and income there may be various options for you, but too much information is necessary to advise you h ... more
0 votes Share Flag Thu Aug 1, 2013 Financing in 08203
Catherine Po…, Real Estate Pro in 08205
Catherine Portock answered:
How much mortgage can we get? I would like to try to get a FHA loan and put 5% down OR IDEALLY attempt to get a traditional loan with 10% down.
I am a Realtor but it sounds like you should be able to get some kind of loan. Maybe USDA which is a 0 Down program...Here is my email...contact me I will get you in touch with a Mortg ... more
0 votes Share Flag Tue May 15, 2012 Financing in Atlantic City
Corey Grushin, Real Estate Pro in Morris County, NJ
Corey Grushin answered:
what expense do you get back from doing a first time home buyers loan the closing costs or your down payment?
Stormshadow you don't get back any expense doing a firsty time home buyer loan. You're able to take a tax deduction of points paid at closing.
0 votes Share Flag Tue Nov 1, 2011 Financing in 08234
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
How hard is it to get financing for a partnership, 3-4 investors, buying investment properties?
The investors will have to guarantee the financing personally.

A partnership is far weaker than even an LLC. I'm unaware of anyone willing to lend to a partnership. As for an LL ... more
0 votes Share Flag Thu Nov 18, 2010 Financing in 08037
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
can I refinance the home mortgage and still keep the equity loan with the original bank?
Yes! If your equity lender will agree to stay as 2nd mortgage and your CLTV is okay for your lender.
0 votes Share Flag Sat Aug 28, 2010 Financing in Atlantic City
Meriam Marti…, Real Estate Pro in Bellflower, CA
Meriam Martinez answered:
Are there any advantages or disadvantages to getting an FHA loan?
A few advantages are that the buyers down payment can be as low as 3%, the entire down payment can be recieved as a gift from a friend or relative, no pre-payment penalty, and the lende ... more
0 votes Share Flag Thu Aug 5, 2010 Financing in Brigantine
Karen Barrett, Real Estate Pro in Steuben County, IN
Karen Barrett answered:
ONCE A BANK HAS APPROVED YOUR REFINACE HOW LONG BY LAW DO THEY HAVE TO CLOSE?
I do not believe there is a LAW. There are guidelines though.

We just had a meeting with a banker today about this very thing TODAY. There are stipulations on how long a file sits on ... more
0 votes Share Flag Wed May 27, 2009 Financing in 08234
Dp2, Other/Just Looking in Virginia
Dp2 answered:
My question is how is he able to get that low when bankrate.com is showing the rates at 5.18%?
Although there are several reasons for why your broker might have been able to get that low rate (eg his relationships with specific lenders, new lending programs, etc), the actual reas ... more
0 votes Share Flag Wed Sep 9, 2009 Financing in 08205
Lori Lewis, Real Estate Pro in Bethlehem, PA
Lori Lewis answered:
Refinace question...
If the bank will subordinate the second you can leave it be. What rate are you paying on the second?
0 votes Share Flag Wed Mar 4, 2009 Financing in 08234
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