Financing in New York : Advice

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Javier Menes…, Real Estate Pro in Farmingdale, NY
Javier Meneses answered:
Should one pay points to get a lower rate when refinancing?
It depends. There are so many things to consider when deciding if one should buy down an interest rate or not. Sometimes buyers with limited funds, prefer to hold on to the money rather ... more
0 votes Share Flag Thu Jan 31, 2013 Financing in Sheepshead Bay
Javier Menes…, Real Estate Pro in Farmingdale, NY
Javier Meneses answered:
When mortgage shopping, what should you do to get the best interest rate and loan terms?
I think that all the best things you can do to get the best rate possible happens before you even shop for a mortgage. By saving as much as possible towards down payment and making sure ... more
0 votes Share Flag Wed Apr 23, 2014 Financing in Rego Park
Luke Constan…, Real Estate Pro in 11201
Luke Constantino answered:
Interested in general estimate for costs of building a one family 3-4 bedroom home in Prospect heights
Hello Jo,

I have dealt with this numerous times, but a Realtor is not the person to answer this question. It is possible to get a mortgage/construction loan, but they are rare.

Y ... more
0 votes Share Flag Wed Jan 30, 2013 Financing in 11238
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
Do people really put down 20% anymore?
Kim,
There are advantages to putting 20% down, the primary being you don't have to purchase Mortgage Insurance. Mortgage Insurance protects the lender, not you so you still would nee ... more
0 votes Share Flag Tue Jan 29, 2013 Financing in New York
Alison Hillm…, Other/Just Looking in San Francisco, CA
Alison Hillman answered:
I need a general contractor that provides 100% financing. I need some renovations done to my home - new front step, wall, walkway and possible windows
Hi Chiwale,

Take a look at our listings for developers on Trulia: http://www.trulia.com/voices/directory/Brooklyn-builder_developer--7168

Best,
Ali, Community Manager
0 votes Share Flag Mon Jan 28, 2013 Financing in Brooklyn
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
I need a mortgage that can be adjusted and payed over a longer stretch of time.I am not sure what type this would be i will need some financial advice
When it comes to mortgage information, it's really in your best interest to consult/visit with any licensed loan officer...
0 votes Share Flag Fri May 17, 2013 Financing in 13903
Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
Their is a particular property i am interested in buying i am able to put down almost the entire purchase price but need a small loan to complete it.
Eduardo,

As long as your credit score is at least in the mid 600's it shouldn't be too difficult if as you write you'll be putting down well over 50% . Just speak with a couple of lo ... more
0 votes Share Flag Sat Jan 26, 2013 Financing in 13903
Mitchell Fel…, Real Estate Pro in 11229
Mitchell Feldman answered:
What are some steps one could take to lower their home insurance costs?
Here are some ideas:

1) Take a higher deductible.

2) Get an alarm system.

3) Group your auto and homeowners insurance through the same company.

4) Install a check valve on y ... more
0 votes Share Flag Wed Jan 23, 2013 Financing in Crown Heights
Janet Stephen, Real Estate Pro in Wichita, KS
Janet Stephen answered:
How long will it take to process a loan application?
30 days if you are with a Good Realtor and a Great Banker and you are want to work and get all the stuff finished that you need to do.
Looking forward to working with you.
11 Years Ex ... more
0 votes Share Flag Sun Jan 27, 2013 Financing in Washington Heights
Joana Filgue…, Real Estate Pro in Aventura, FL
Joana Filgueiras, PA answered:
What might delay approval of a loan?
Discrepancy with borrowers financials, delay with appraisal, delay on obtaining the required documents from the association, borrower not delivering all required documents.... lots of r ... more
0 votes Share Flag Sun Jan 27, 2013 Financing in Washington Heights
Maria Cipoll…, Real Estate Pro in Coral Springs, FL
Maria Cipollone answered:
looking for private mortgage using equity in our manufactured home and land credit not good
Shop around for a mortgage broker, they have access to many banks, private lendrs and different programs.

Best of Luck,

Maria Cipollone
Century 21 tenace
0 votes Share Flag Mon Jan 21, 2013 Financing in 13452
Mark Fisher-…, Real Estate Pro in New York, NY
Mark Fisher-Mortg Lender answered:
What other costs besides a lender/mortgage broker's fees are typically associated with traditional loans?
You typically have mortgage tax, title search and title insurance, government recording fees, escrows, underwriting fee, processing fee, application fee, and possible discount points.
0 votes Share Flag Fri Feb 8, 2013 Financing in Harlem
Keith Jean P…, Real Estate Pro in East Brunswick, NJ
Keith Jean Pierre answered:
Anyone know of direct lenders in Westchester who will do a small co-op re-fi (owner occupied sound buyer and building) as income stated?
Dear Bev:

With stated income, you will need an excellent credit score and usually at least 50% equity or down payment. These loans are pretty rare these days but a few lenders are st ... more
0 votes Share Flag Sat Jul 13, 2013 Financing in 10549
Terry Farnsw…, Real Estate Pro in Crystal Lake, IL
Terry Farnsworth answered:
I am looking for an investment property renovation loan. Is the Fannie Mae homestyle renovation loan for investment properties still available?
Hi Eve,

Yes, this program is still available. The property has to be Fannie Mae owned, and also qualify/be eligible for the renovation loan program. You can't just apply for this t ... more
0 votes Share Flag Sat Dec 29, 2012 Financing in Albany
William McBu…, Real Estate Pro in New York, NY
William McBurney Jr answered:
Mortgage for Foreign Buyer in NYC
No question I can find you the exact kind of apartment investment you want but regarding the current state of financing for a person with your status, I will check with my mortgage bank ... more
0 votes Share Flag Thu Dec 27, 2012 Financing in New York
Alissa Spears, Real Estate Pro in 78382
Alissa Spears answered:
Apart from the 3.5% down-payment in FHA loan, what other out-of-pocket costs should be kept aside?
I have dealt with several FHA closings this year and most of the amounts have varied, all dependent on the lender they chose. Appraisal cost, prepaid taxes and insurance and mortgage ti ... more
0 votes Share Flag Thu Dec 20, 2012 Financing in Smithtown
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I applied for a pre-approval and was denied due to deferred student loan debt (2017). Do anyone have any suggestions how to deal with this?
Deferred student loans still count against your debt ratio for conventional financing, no matter how far out the deferment goes to. However for FHA & VA financing, if the student loans ... more
0 votes Share Flag Wed Dec 19, 2012 Financing in New York
Roland Vinya…, Real Estate Pro in Sprakers, NY
Roland Vinyard answered:
Can an FHA appraisal be changed because of inaccuracies in the initial report from the appraiser?
It is not uncommon for an appraiser to miss things or to count incorrectly though usually the things missed as much smaller than this. You can ask for an amended appraisal, pointing out ... more
0 votes Share Flag Fri Dec 14, 2012 Financing in 13820
Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
Dormer Financing
There are several options and I am going to refer you to the experts:

Call JB Bolvadin
631-879-3565
jbolvadin@returnonre.com

JB and his company Return on Real Estate, do smaller ... more
0 votes Share Flag Thu Dec 13, 2012 Financing in 11010
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