Just because you qualify for a higher mortgage amount does not mean that you should buy a house that you can not afford comfortably. Pre approvals do not take into concideration real life things like child support, or utilites on the home exc... Please keep in mind that this is a payment that your stuck with for 30 years. Instead of thinking in terms of what you qualify for, think in terms of what payment you are comfortable with. If you approach things this way your sure to be buying within your means and almost guarentee an approval when your ready.... more
You would have to get a loan secured before you put in an offer. The bank requires a cashiers check as a deposit. Foreclosures are very risky. You have to make sure all their taxes have been paid, that there are no liens on the property, it is very important to have a clean title. I would definitely consult a good attorney. If you need any referrals give me a call Seth Winkleman 860-985-5816 SethWinkleman@PrudentialCT.com I work with a lot of bank-owned properties!... more
Ive never seen an auction allow a mortgage contingency. So if you lose your financing, you lose your deposit also. Usually there is a sizable minimum. I wouldnt recommend going this route. Cash is best for auctions.... more
I never answered from what I can see any questions you have posted. I would recommend finding a great agent and have them put you on Listingbook. A great tool that reflects the MLS in real time. The only website that gives accurate info and status of listings. They can reveiw your activity and send you notes on properties you do view or save as favorites. You can also send them notes from the listing.
Good luck and thank you for getting back to those who answered. It's rare we find out how much our answers are helpful.
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There are homes like that, but it really depends on the location, size, etc. Feel free to text me at 860-985-5816 or email me at SethWinkleman@PrudentialCT.com. Or check out the link I provided.... more
I would suggest that you shop around and keep all of your options open. A mortgage broker usually has access to many more programs compared to one individual bank. That doesn't mean that a local bank won't have a good deal for you. Shop around, compare rates, but also pay attention to loan terms and closing costs. Make sure that you are comparing apples to apples.... more
Most mortgages aren't assumable. However, to find out what is owed, the best way is either to ask the owner for copies of his/her most recent statement, or to get a notarized letter from the owner allowing you to contact the lender and have the lender provide you the payoff amount(s).... more