Financing in Middlesex County : Real Estate Advice

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Loreen Cinga…, Real Estate Pro in Medford, MA
Loreen Cinganelli answered:
Refinancing denied due to "incomplete renovations in progress."
Unfortunately, Gary, with any financing, the lenders will not allow you to finance if repairs are needed or "in process". When it's a new purchase of an unfinished home, buyers are req ... more
0 votes Share Flag Mon Dec 30, 2013 Financing in 02155
Tony Grech, Real Estate Pro in Southfield, MI
Tony Grech answered:
Types of financing for expensive multi-family (owner occupied)
It looks like you have a lot of moving parts there.

The conforming limits for 3 family homes in Boston is $720,700 and for FHA is $810,450.

From a down payment standpoint, you' ... more
0 votes Share Flag Tue Aug 20, 2013 Financing in 02478
James Daniel, Real Estate Pro in Cambridge, MA
James Daniel answered:
What's worse: PMI now or 20% down in 18 mths but higher interest rates?
Hi Meghan,

That's a great question. There are some other different variables to consider in order to determine what is the best course of action for you.

First, if you put down 20 ... more
0 votes Share Flag Tue Apr 14, 2015 Financing in Cambridge
Thomas von Z…, Real Estate Pro in Cambridge, MA
Thomas von Zabern answered:
What is the minimum down payment permitted in MA/Cambridge?
Hi Mary

Most banks will ask for 5% to 10% down, but first time homebuyer programs exist through Mass Housing that allow you to buy with as little as 3% down. I'd be glad to discuss ... more
0 votes Share Flag Mon Mar 25, 2013 Financing in Cambridge
Steve Boucher, Real Estate Pro in Franklin, MA
Steve Boucher answered:
Are there any mortgage options with 10% or less down for a 2 family in Watertown, MA if one of the spouses already owns a FHA financed 4 famil house?
yes a VA loan could do it at 100% financing if you qualify and will be living there. are you a vet? i do lots of VA loans. feel free to contact me at 781-277-1792 or steve.boucher@gu ... more
0 votes Share Flag Wed Jan 30, 2013 Financing in 02472
Katie Malin, Real Estate Pro in Cambridge, MA
Katie Malin answered:
where can i get a jumbo mortgage to buy a condo in an HOA that has only 2 total units?
Hi Yogiloan--
If you need a Portfolio Loan, (one which the bank does not sell to Fannie Mae or Freddie Mac), I may suggest Washington Trust in Burlington-- Matt Chabot has been wonderf ... more
0 votes Share Flag Fri Dec 28, 2012 Financing in Cambridge
Richard Shap…, Other/Just Looking in Framingham, MA
Richard Shapiro answered:
earliest time I can close in the begging of year if I need a tax transcript from the IRS
It tough. If you file right away it may take about 4 weeks but the longer you go the longer it takes. We do have an accelerated way and would be happy to share if you contact me.
0 votes Share Flag Sun May 26, 2013 Financing in Framingham
,  in
Refinancing CLTV 90%
Hello how do you know your home value did you have an appraisal done recently? You may email me at or phone 262-649-5439.

Brynn Sorenson
0 votes Share Flag Wed Mar 19, 2014 Financing in Natick
Richard Shap…, Other/Just Looking in Framingham, MA
Richard Shapiro answered:
Should I refinance to pay off an auto loan?
Personally, I dont like taking out a 30 year loan to pay off an asset you have for only several years.

Rates are fairly low right now and if you have not taken advantage of them, per ... more
0 votes Share Flag Fri Nov 2, 2012 Financing in Boston College
Eric Erickson, Real Estate Pro in Andover, MA
Eric Erickson answered:
As an American citizen living abroad with a condo in Washington, D.C. can I re-finance even if I am exempt from paying US taxes?
I am completeing an investment property right for a couple who live in Asia. Contact me wiht your details and I will let you know your options.

Contact me via my profile.

0 votes Share Flag Sun Jul 6, 2014 Financing in 01741
GB Short Sal…, Real Estate Pro in Boston, MA
GB Short Sales answered:
One lender in a short sale, the 20% of an 80/20 deal. What percentage of what they are owed are they most likely to approve?
The second lien holder will request anywhere from 6-10% of the principal loan balance as a payoff depending upon whom the underlying investor is on the loan. If you are pursuing a HAFA ... more
0 votes Share Flag Sun Jun 3, 2012 Financing in Woburn
Masha Sender…, Real Estate Pro in Newton, MA
Masha Senderovich answered:
when buying a home or town house, who has to pay the closing cost and what it includes?
Closing costs - depends on the offer. It is about 1% of the purchase price and includes various state and federal registration, mortgage, title, and other fees, attorney's fees, pre-pai ... more
0 votes Share Flag Thu Jun 21, 2012 Financing in 02453
Alain Picard, Real Estate Pro in Puyallup, WA
Alain Picard answered:
Refinancing a primary property and using rental income with only 13 months worth of rental income on another property... Any Lenders?
From what I hear you will need 24 months of rental income but I'm sure if there is a lender out there that can do it with only 13 months someone will let you know on here.
0 votes Share Flag Wed Apr 4, 2012 Financing in Framingham
Maxwell,  in San Diego, CA
Maxwell answered:
what are my options for home improvement mortgages?
There a several types of "rehab loans". One option is the 203k loan from the FHA which is a loan for the based on the future improved value of the home (purchase price + cost ... more
0 votes Share Flag Tue Mar 13, 2012 Financing in 02155
Heather O'Su…, Real Estate Pro in Henrico, NC
Heather O'Sullivan, Broker answered:
Financing Issues: Lender bait and switch:
Hi Ma2fam,

Often there are things that change during the lending process (especially with investment properties) If you can afford the additional money down - then think of it this ... more
0 votes Share Flag Tue May 29, 2012 Financing in 02139
Richard Shap…, Other/Just Looking in Framingham, MA
Richard Shapiro answered:
How can you prove dissolution of a sole proprietorship business to an underwriter?
That's tough. If you were incorporated then there would be a record with the Secratary of State and it would show a dissolution date.
I'm thinking the only way to do this is ... more
0 votes Share Flag Tue Apr 3, 2012 Financing in 02421
Louis  Wolfs…, Real Estate Pro in Needham, MA
Louis Wolfson answered:
As an American citizen living abroad with a mortgaged house in Massachusetts, where can I find a bank that will refinance it?

Any lender will be happy to work with you. Especially in Carlise. You do not have to live in a country to obtain financing. You do have to have provide that you have the inco ... more
0 votes Share Flag Mon Jan 9, 2012 Financing in 01741
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
can one get a mortgage loan or refinance on an investment property which presently has no mortgage?
Speak to a local lender and see if you and the property qualify for a mortgage. Condo loans are something of a problem sometimes but a local lender should be able to tell you more.
0 votes Share Flag Thu Dec 29, 2011 Financing in Billerica
Daniel Sutton, Real Estate Pro in Jamaica, NY
Daniel Sutton answered:
How long is a loan pre-approval usually good for? I don't want to feel pressured into buying a home by this.
Usually its just about 1 to 2 months. Checking your credit often does effect your credit but it will not do too much damage unless you really take it to an extreme.
Good Luck.
0 votes Share Flag Mon Jul 9, 2012 Financing in 01801
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
are low down payment loans still an option?
FHA loans require 3.5% down; consult with any licensed loan officer to determine mortgage qualification....
0 votes Share Flag Wed Dec 21, 2011 Financing in 01701
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