Financing in Silver Spring : Advice

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Roland Vinya…, Real Estate Pro in Sprakers, NY
Roland Vinyard answered:
Property tax letter says house is now worth 50K less than what I paid in 2010. Can i refinance?
An assessment may or may not represent the true value of your property. An appraisal is supposed to. Both can get out of date quickly. If you truly have no equity, I wouldn't rock ... more
0 votes Share Flag Mon Oct 1, 2012 Financing in Silver Spring
Molly Carter, Real Estate Pro in Rockville, MD
Molly Carter answered:
What percentage of your income do banks use when approving you for a home loan?
Your questions are best answered by a lender. Call Michael Femiano at 301-252-8621 or shoot him an email at Michael@michaelfemiano.com he is very good at qualifying buyers with special ... more
0 votes Share Flag Wed Jan 4, 2012 Financing in 20906
Piero Marinu…, Real Estate Pro in Silver Spring, MD
Piero Marinucci answered:
How does having someone else on the title(on 1st home) affect me being able to buy alone? 30%equity and rent will cover mortgage/insurance/taxes
KC, having that second person on title will have little effect on your ability to buy or not. Your application for a mortgage will still look at your ability to pay for your current hom ... more
0 votes Share Flag Wed Jan 4, 2012 Financing in 20906
Brent Mendel…, Real Estate Pro in Bethesda, MD
Brent Mendelson answered:
Can a lender deny a loan for a house with a second kitchen even if it is legally zoned?
Short answer is yes. Lenders can deny for anything they want basically. Just because it meets Fannie/Freddie guidelines just means a lender can do it not that they must. 2 Kitchens has ... more
0 votes Share Flag Sun Nov 6, 2011 Financing in Silver Spring
Phil Rotondo, Real Estate Pro in 32940
Phil Rotondo answered:
My Home Value?
Good Morning Subhash;
If you are looking for the current value of your home I would suggest that you contact a local Real Estate agent who can perform a Market Analysis of your propert ... more
0 votes Share Flag Fri Feb 18, 2011 Financing in Silver Spring
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
How much financing can I get if any?
Home Buying,
Step one in buying is to meet with a lender who can look at your credit, income and documentation in order to answer your question. Based on what you have stated, you ha ... more
0 votes Share Flag Sat Nov 13, 2010 Financing in Silver Spring
John Young, Real Estate Pro in Silver Spring, MD
John Young answered:
I am thinking about buying a house in May 2011, however my income will only be $20000, how much financing can i get with $10000 down and a 680 score
I don't think you are going to get any financing with $20,000 in income. The question I would ask (and the bank would ask this as well)--How are you going to pay a monthly mortgage ... more
0 votes Share Flag Fri Oct 26, 2012 Financing in Silver Spring
Bonnie Aubin, Real Estate Pro in Burtonsville, MD
Bonnie Aubin answered:
Hi, I'm a non US citizen with US property owned by my LLC. I'm looking for Finance, is there anybody who I can discuss my requirements?
I work with several reputable, knowledgeable, and experienced lenders. Please let me know if you'd like to contact them and I'll be happy to provide their contact information ... more
0 votes Share Flag Mon Feb 4, 2013 Financing in 20910
Nicole Neale, Real Estate Pro in Potomac, MD
Nicole Neale answered:
Looking for a mortgage broker with experience working with self-employed individuals.
I would love to work with you during the process. Being a self emplyed person for several years I can certainly see where people would step back and watch instead of jumping in the pro ... more
0 votes Share Flag Wed May 5, 2010 Financing in Silver Spring
Alex Gomez, Real Estate Pro in Pembroke Pines, FL
Alex Gomez answered:
Hi - we are interested in Refi'ing but all the loan officers ask me "whats the value" - trulia and zillow are aprx $120K apart. We
Hi, base your search on recent (most recent the better) sales within your immediate area for homes similar to yours. That should give you a general idea. Other things to consider is pur ... more
0 votes Share Flag Fri Nov 13, 2009 Financing in Silver Spring
Adrian Hunti…, Real Estate Pro in 94110
Adrian Huntington answered:
Can I negotiate for banks to contribute to closing cost when looking at foreclosures and short sales?
Although I was born in Maryland, I am not up to date on current market conditions. If a house is getting multiple offers you need to be aggressive. Most banks will credit up to 3% tow ... more
0 votes Share Flag Sun Sep 6, 2009 Financing in Silver Spring
Rob Weber, Real Estate Pro in Chicago, IL
Rob Weber answered:
I have paper equity bec. we bought a house last June 08 for 368T but the appraisal was about 380T.
Whether or not you can refinance depends on a couple things. What did you pay for the home? Is it still worth at least what you paid for it? What is your credit and income like curre ... more
0 votes Share Flag Fri Nov 28, 2008 Financing in 20901
Lewis Poretz…, Real Estate Pro in Annapolis, MD
Lewis Poretz - MARYLAND 203K Renovation Loans answered:
I am buying a house at 10% discount. How soon can I refinance to repair the house?
As long as the value is supported you can refinance immediately. However, in todays lending market, i would be pretty sure to say the appraisal will be reviewed and scrutinized.....
0 votes Share Flag Sun May 11, 2008 Financing in Silver Spring, MD
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