Financing in Lake County : Advice

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Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Should I continue paying PMI, or would a loan to pay down to 80% and refinance make more sense?
When you apply for a loan, the Lender is required to give you a GFE (good faith estimate):
It will show everything, be a guide for comparing Loans, and give you the info you need to se ... more
0 votes Share Flag Tue Apr 16, 2013 Financing in 60030
Justin Carmo…, Real Estate Pro in Chicago, IL
Justin Carmody answered:
Me and my fiancée looking into buying a town home within the next 3 months. He barely has any credit and mine is not that good about 500.
Hi Alexis,
A great loan officer that I like to use is Angela Remeeus of Provident Mortgage in Libertyville. Try giving her a call and she should be able to get you on the right path t ... more
0 votes Share Flag Sat Jul 26, 2014 Financing in 60083
Al Aronow, Real Estate Pro in Libertyville, IL
Al Aronow answered:
FHA Loans with 600 FICO??
Rachel.

It is possible. Call Scott Jacobsen at 630-673-3103 or email him at scott.jacobsen@wellsfargo.com. Scott has helped several clients of mine obtain FHA loans with credit score ... more
0 votes Share Flag Mon Feb 3, 2014 Financing in 60047
John Walin, Real Estate Pro in Libertyville, IL
John Walin answered:
Does anyone have any experience with the "Finally Home" program in IL?
Hi
Here is the state link for the finally home program...
Determine that you qualify for the program, and speak to a free counselor regarding your eligibility and they can direct you ... more
0 votes Share Flag Sun Jan 29, 2012 Financing in Lake County
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
I have been a full time student for three years, and was hired for a new job thre months ago. I just graduated in May. I have a good down payment
No. If you were hired for a job in the field you studied then it does not affect you.
0 votes Share Flag Tue Jun 28, 2011 Financing in 60060
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I have been a full time student for three years, and was hired for a new job thre months ago. I just graduated in May. I have a good down payment
As long as you are working full time now, and it's related to what your major was, then you should be fine to use your new employment and it's income to qualify.

The fact ... more
0 votes Share Flag Tue Jun 28, 2011 Financing in 60060
coleen greni…, Real Estate Pro in Barrington, IL
coleen grenier answered:
Down payment in bank accounts
Hi Kumar,
Yes, I would advice you start asap. Discuss the bonus with yr. mortgage co. as it will be looked at differently vs. your straight salary. You will be in a much better nego ... more
0 votes Share Flag Tue Oct 5, 2010 Financing in 60061
Elizabeth Me…, Real Estate Pro in Grayslake, IL
Elizabeth Meier Splitt answered:
What's the diference betwingMarket value and Appraisals value?
Rom,
Market Value is usually considered the agreed price between the buyer and the seller. This can also be the amount that the county assesor states (they look at the past three years ... more
0 votes Share Flag Tue Oct 12, 2010 Financing in Round Lake Beach
The Michael…, Real Estate Pro in Gurnee, IL
The Michael Lescher Team answered:
I am looking at lower my mortgage payment (i have 2 mortgages) as the property value has gone down
In a short sale, you sell your home for less than you owe on your mortgages. You will eliminate your mortgage completely but may be liable for the second mortgagors loss and you won't o ... more
0 votes Share Flag Fri May 15, 2009 Financing in Lake County
The Michael…, Real Estate Pro in Gurnee, IL
The Michael Lescher Team answered:
Can Fannie Mae and Freddie MAC run out of cash? If so, how do you get a conforming loan?
It is my understanding that Fannie & Freddie package loans and sell bonds backed by those loans. I don't think there is any concern that they'll run out of money.
0 votes Share Flag Sun Mar 31, 2013 Financing in 60045
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