Financing in New Mexico : Advice

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Steve Quinta…, Real Estate Pro in Albuquerque, NM
Steve Quintana answered:
What are the tax savings generated by my mortgage?
Here is the concept for understanding the mortgage interest deduction. AGI determines tax liability. Mortgage interest payment can reduce AGI. Thus mortgage interest payment can redu ... more
0 votes Share Flag Tue Jan 22, 2013 Financing in Albuquerque
Leigh-Jo Anz…, Real Estate Pro in Albuquerque, NM
Leigh-Jo Anzures answered:
how do i get equity loan? we cant refinance! we own our home! we want cash out!
Hello,

Why can't you refinance? Did you already connect with a mortgage lender who said you can't?

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
0 votes Share Flag Sun Jan 20, 2013 Financing in Belen
Brian Fossa, Real Estate Pro in Albuquerque, NM
Brian Fossa answered:
First time home buyer...
Your first step is to get in front of a reputable lender, who can take a peek at your financial status (pre-qualification), and let you know what price range is best suited for your inc ... more
0 votes Share Flag Sun Nov 4, 2012 Financing in 87111
Fred Glick, Real Estate Pro in Los Angeles, CA
Fred Glick answered:
My coborrower cosigned student loans for me a few years ago. Will the payments count twice on DTI since he's my cosigner on those or just once?
Not at all.

It's not as if the payments are being made twice.

It will show on the credit report that the loan is co-signed.

Just point it out to your loan officer.
0 votes Share Flag Tue Jul 10, 2012 Financing in Roswell
Gary Bell, Real Estate Pro in Las Cruces, NM
Gary Bell answered:
average rate per square foot
In Las Cruces it varies a lot. It really depends on the neighborhood you are looking at and the size of the home. If you give me a better idea of what you are looking for I will give yo ... more
0 votes Share Flag Thu Jun 7, 2012 Financing in 88005
Emily Medvec, Real Estate Pro in Santa Fe, NM
Emily Medvec answered:
Do you have to have 2 year job experience at the same job to get a solitaire home financed?
The best thing to do next is for you and your husband to make an appointment with your local community bank in Artesia, NM. Their mortgage department will have the best resources availa ... more
0 votes Share Flag Wed Jun 6, 2012 Financing in Artesia
Tod, Other/Just Looking in Crownpoint, NM
Tod answered:
How long does it take to get an approval for a bridge loan? What is involved?
If you need a bridge call 417-217-2995 I have bridges in New Mexico and can finance one for you. Thanks Tod
0 votes Share Flag Wed Jun 6, 2012 Financing in Las Cruces
Paula M Glov…, Real Estate Pro in 87544
Paula M Glover answered:
Do you have homes that are rent-to-own with a Section 8 or HUD voucher, or that can be bought outright with these vouchers?
Los Alamos has a wide range of property conditions, which creates a variety of financing needs. HUD, VA and conventional financial is available on almost all properties. I'm happy to ... more
0 votes Share Flag Mon Apr 27, 2015 Financing in 87544
Leigh-Jo Anz…, Real Estate Pro in Albuquerque, NM
Leigh-Jo Anzures answered:
is there a bank of america nearby?
Hi Cindy,

There is one near by at 1775 Main St SW, Los Lunas, NM 87031.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
0 votes Share Flag Thu May 10, 2012 Financing in New Mexico
Tony Tucker, Home Buyer in Clovis, NM
Tony Tucker asked:
Two Married military members, one with 690 credit, one with 590 credit, trying to get 250K loan in New Mexico, can anyone Help? We both qualify for a VA loan, and can afford a 1600 a month mortgage, but as soon as they see the 590, they kick them off the loan, and we can only get approved for 150K. Can anyone he...
0 votes Share Flag Thu Mar 8, 2012 Financing in Clovis
Weichert, Re…, Real Estate Pro in Clovis, NM
Weichert, Realtors -the 505 Group answered:
Two Married military members, one with 690 credit, one with 590 credit, trying to get 250K loan in New Mexico, can anyone Help?
The lender we frequently use for this type of problem has been able to raise credit scores for a buyer in a very short time to meet the minimum score for his VA loans. He has said tha ... more
0 votes Share Flag Sat Mar 10, 2012 Financing in Clovis
Elliott R. O…, Real Estate Pro in Falls Church, VA
Elliott R. Oliva answered:
Hello I currently Have a 606 fico MID credit score,my wife is at 630. we currently we are under 20% debt to income. Any banks doing VA 600 ?
Luis, most lenders are going to require a 620 or better just to be eligible for a VA loan. As a lender my first priority would be to see what can be done to get your scores up. It may b ... more
0 votes Share Flag Tue Mar 6, 2012 Financing in Clovis
Steve Quinta…, Real Estate Pro in Albuquerque, NM
Steve Quintana answered:
Need hard money lender for mixed use commercial/residential, any one fund these types of loans?
Send me.your contact info and I will send it to a few.private lenders.
0 votes Share Flag Mon Apr 16, 2012 Financing in 87107
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Can the FHA 3.5% downpayment gift come from a relitives business account? It just so happens to be his only bank account.
It doesn't make any difference where the donor get's the funds from

4155.1 5.B.4.e Gift Donor’s Source of Funds states:

"As a general rule, FHA is not conce ... more
0 votes Share Flag Sat Feb 4, 2012 Financing in New Mexico
Steve Quinta…, Real Estate Pro in Albuquerque, NM
Steve Quintana answered:
Interested in condo property with seller based financing
Jag3630; There are around 15 Albuquerque condos listed in the MLS which offer owner financing. What is it you are looking for?
0 votes Share Flag Wed Jan 11, 2012 Financing in Albuquerque
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
Can I qualify for a VA loan with a 600 credit score?
Officially yes but most lenders have an overlay on VA mortgages that require 640+.
Why don't you go to your local nonprofit housing group for credit counseling. They will go over ... more
0 votes Share Flag Mon Jul 1, 2013 Financing in 88203
Gerard J. Ca…, Real Estate Pro in Spring Hill, FL
Gerard J. Carney answered:
do these do manufactured homes?
Its a bad time in the economy for this, but Good Luck and I hope you get it, anything to stay above water is a good thing!
0 votes Share Flag Mon Jun 6, 2011 Financing in Ruidoso
Claudia Starr, Home Buyer in The Villages, FL
Claudia Starr asked:
I am looking at a multi unit apartment property that I intend to occupy as my principal residence. I have excellent credit and the amount will be below 200k mortgaged. What kind of down and interest rate can I expect on this? (760 credit rating)
0 votes Share Flag Mon Apr 11, 2011 Financing in New Mexico
Steve Quinta…, Real Estate Pro in Albuquerque, NM
Steve Quintana answered:
Any Albuquerque, NM hard money lenders for a C-3 zoned house (can be used for business or residence)?
Julian, Please send me an email and I will give you some names. Steve

www.facebook.com/stevequintanarealestate
0 votes Share Flag Thu Mar 10, 2011 Financing in 87123
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