Financing in Milwaukee : Real Estate Advice

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Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Let me re-phrase- What is the max LTV for non-owner occup. residential purchase?
Fannie Mae/Freddie Mac programs will go up to 85%, and Essent Guaranty Insurance will insure it with a 720 FICO score.

If it's a Fannie Mae HomePath property, then 90% financing is p ... more
0 votes Share Flag Sat Jan 12, 2013 Financing in Milwaukee
Carl Henker,  in 95928
Carl Henker answered:
Hard Money Investors Wisconsin- What are LTV guidelines for residential properties?
There are no set guidelines as this type of financing is consider alternative to conventional lending which does follow standard guidelines. Most lenders will want to see from 30% equit ... more
0 votes Share Flag Thu Jan 3, 2013 Financing in Milwaukee
Mona Elmore, Real Estate Pro in Hales Corners, WI
Mona Elmore answered:
Are there any banks/lenders in or near Milwaukee, Wisconsin that do FHA 203k loans?
Here is a great contact. Let me know if you need assistance in purchsing the home. Mona Elmore, www.MonaElmore.com, monaelmore@remax.net

Prospect Mortgage is:

· #1 H ... more
0 votes Share Flag Tue Apr 16, 2013 Financing in Milwaukee
allan erps,A…, Real Estate Pro in Pearl River, NY
allan erps,ABR,SFR answered:
My fiancé and I are looking to buy a house but it seems like you have to have a substantial amount of money for a diownpayment. We do not have a
Yes you can... FHA loans can be had for total down payment of 3 1/2% down. Please look into it and best of luck!
0 votes Share Flag Sat Jan 5, 2013 Financing in Milwaukee
KerryAnn Dou…, Real Estate Pro in Hales Corners, WI
KerryAnn Douglas answered:
Is There any mortgage lenders that will lend to a score of 615?
It appears you are 5 points away from possibly being able to obtain FHA financing. Have you spoken to anyone on how and the time frame needed to bring it up the 5 points? I can offer ... more
0 votes Share Flag Wed Jul 31, 2013 Financing in Milwaukee
Dominique Wi…,  in Clovis, CA
Dominique Wilder answered:
Looking for hard money lender in Milwaukee?
We might be able to help you with a business loan instead of hard money. We don't do residential lending but are able to help current investment property owners or those that want to s ... more
0 votes Share Flag Mon Jun 3, 2013 Financing in Milwaukee
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
What is the best way to carry two mortgages?
You CAN'T just decide to do a short sale. A bank must agree to it and you can't just decide, "Oh Well, I'll screw the bank and they will go along with it because it's all about me". It ... more
0 votes Share Flag Mon Dec 24, 2012 Financing in Milwaukee
John Friedri…, Real Estate Pro in Milwaukee, WI
John Friedrichs answered:
can i get a mortgage with 10% down?
Yes you can get a mortgage with 10% down. Most conventional mortgage programs you can get with as little as 5% down if you are going to occupy the home you are looking to buy. If you ... more
0 votes Share Flag Thu May 31, 2012 Financing in Milwaukee
Walter 'Skip'…, Real Estate Pro in Brea, CA
Walter 'Skip' Kersten answered:
can I show my downpayment of home purchase as my saving for deduction of tax?
Hi Sup,
You will need to show a bank or investment acount statement with the money in the account for proof of downpayment.
Good luck,
0 votes Share Flag Wed Sep 28, 2011 Financing in 53226
Kevin Olson,…, Real Estate Pro in Colorado Springs, CO
Kevin Olson, Jessica Laude answered:
Can a first-time home buyer obtain a FHA loan to purchase a property from a direct relative?
Yes, we have done it successfully several times. Wells Fargo has worked best for our situations.
0 votes Share Flag Tue Mar 8, 2011 Financing in Milwaukee
Tony McMahon, Real Estate Pro in WHITE PLAINS, MD
Tony McMahon answered:
I have an FHA loan that was recently streamline refinanced we have lived there 4 years. Can I buy another home (conventional) and rent out this home?
You should review the new agreement that you just signed when you did the refi , and possibly do that with an attorney, to be safe.
0 votes Share Flag Mon Dec 24, 2012 Financing in Milwaukee
Daniel Alvar…, Real Estate Pro in Weehawken, NJ
Daniel Alvarez answered:
I cannot get pre approved for a mortgage. I have a 610 FICO, but I already have an FHA. Can I get a loan and keep my current home for rental property?
Hi Monique,

You have two problems here: 1) FHA will not approve you if you already own a home; and 2) You say you have more than 2 late payments, which will make it hard to even qual ... more
0 votes Share Flag Fri Dec 10, 2010 Financing in Milwaukee
Karen Wenzel,…, Real Estate Pro in Brookfield, WI
Karen Wenzel, e-PRO answered:
When do you need to show proof of your down payment & savings? As early as when you are getting pre-qualified, or when you apply to get
Based on what you stated in your question- You will probably want to share this information with the Lender when you initially go to get pre-approved. They will base your initial preap ... more
0 votes Share Flag Wed Apr 28, 2010 Financing in 53226
Bob McClure, Real Estate Pro in Walled Lake, MI
Bob McClure answered:
Can your entire down payment be a gift from family?
good afternoon mary....yes...but ...if you are financing fha..the entrie 3.5% can come from the family...any amt. can...if you are financing conventionally........then any amount can be ... more
0 votes Share Flag Tue Apr 13, 2010 Financing in 53226
David Ray, Real Estate Pro in Milwaukee, WI
David Ray answered:
I'm a medical student about to start finally earning income and wanting to buy a home in SE Wisconsin. Anyone specialists work with residents?
I have worked with several students leaving college and entering residency programs. My wife is a pharmacist at Aurora Healthcare which has given me many opportunities to work with new ... more
0 votes Share Flag Fri Mar 5, 2010 Financing in Milwaukee
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
If i close in 2010, can i claim my 8,000 tax credit with my 2009 taxes?
Speak to your tax consultant---also see IRS link
www.irs.gov/newsroom/article/0,,id=206293,00.html
0 votes Share Flag Wed Mar 3, 2010 Financing in 53207
Keith Manson-…,  in Milwaukee, WI
Keith Manson- Metro Milwaukee Wisconsin answered:
First time home-buyer 203K questions
It is best to discuss these with a loan officer that specialize in these type loans. These are FHA loans and the rehab can be used for anything that is not structural issue; such as a ... more
0 votes Share Flag Thu Feb 25, 2010 Financing in Milwaukee
Maket Nashvi…,  in 37211
Maket Nashville answered:
This is for lenders. Is a lender responsible for damages caused by not closing after loan commit. is issued?
Hi David,

There are many many different issues all covered in what seems to be a very simply question..
If there was a loan committment issued, free of any stipulations...many thing ... more
0 votes Share Flag Mon Apr 12, 2010 Financing in Milwaukee
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