Financing in Wisconsin : Real Estate Advice

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Gail Rutkows…, Real Estate Pro in Town of Sun Prairie,...
Gail Rutkowski answered:
My family has to move for my wife's job and can't afford to pay our mortgage and rent.
You relocation is a hardship and there is the HAFA program (Home Affordabiity Foreclosure Altnernative) program that may be available for you. Talking to a (CDPE) Certified Foreclosure ... more
0 votes Share Flag Thu Apr 12, 2012 Financing in Madison
Brian Rayl, Real Estate Pro in Dallas, TX
Brian Rayl answered:
Can a Credit Report stop a closing?
Your darn tootin it can!

The banks run an initial credit report at the beginning of the process before they do all of the work. They will typically run another credit report/credit ... more
0 votes Share Flag Tue Apr 10, 2012 Financing in Wisconsin
Monique Hall, Both Buyer and Seller in Milwaukee County, WI
Monique Hall asked:
Financing woes...How can you get financing for FHA when you have an FHA loan? My husband and I currently have a home through an FHA home loan. We have lived in the home for 9 years. We have two children of opposite sex and it is a two bedroom. We have outgrown th...
0 votes Share Flag Sat Apr 7, 2012 Financing in Milwaukee County
Monique Hall, Both Buyer and Seller in Milwaukee County, WI
Monique Hall asked:
Exceptions to FHA loans. Can you have two FHA loans? We may meet two of the criteria. We meet the growing family criteria as well as moving for employment. We (husband and wife) have two children opposite sex with a two bedroom fha financ...
0 votes Share Flag Sat Apr 7, 2012 Financing in Milwaukee County
Tamara Stoebe, Real Estate Pro in Lancaster, CA
Tamara Stoebe answered:
I'm looking to buy a home but my credit score is under 550, where can I find a mortgage company that will work with me?
Hello Kelli,

There are loan products available for lower credit scores, if you have downpayment, work history and can show that you have the ability to re-pay the loan.

I would re ... more
0 votes Share Flag Tue Mar 13, 2012 Financing in Nekoosa
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
I filled out a pre-approval application. The lender then pulled my credit and has ignored me for 3 months. Can I have the inquriy removed?
It sounds like the lender rejected the application, they are supposed to send a statement of denial to the address you listed on the application. I wouldn’t worry too much about ... more
0 votes Share Flag Thu Mar 8, 2012 Financing in 53703
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
If we buy a house for 30k under assessment, can we get access to that 30k of equity to renovate?
After you purchase a home lenders usually want you to own the home for a certain amount of time, called "seasoning", before they will use an appraised value that was higher th ... more
0 votes Share Flag Wed Nov 16, 2011 Financing in Greentree
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Can I get a jumbo loan in the Milwuakee area with less than 20% down?
We will go up to a $500k loan amount with a 10% down payment or $800k with a 15% down payment, it's brokered through U.S. Bank.
0 votes Share Flag Wed Oct 26, 2011 Financing in Milwaukee County
Eric D Lenz, Real Estate Pro in Greendale, WI
Eric D Lenz answered:
Are there any finance companies that are willing to help me to get a new home even though my current home is in foreclosure? We are in wisconsin.
You could try to find a seller that would hold financing. Traditional lenders would be a waste of time and effort.
Good Luck!
0 votes Share Flag Mon Mar 12, 2012 Financing in Wisconsin
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
Frank,  in Madison, WI
Frank answered:
I got my condo with a WHEDA mortgage. Now I'd like to rent it out -- can I?
Richard - IRS Tax Code which governs Tax-Exempt Mortgage Revenue Bonds (MRB), which was WHEDA's source of funds at that time, require that real estate financed with proceeds of a M ... more
0 votes Share Flag Tue Mar 11, 2014 Financing in 53590
Dan Tabit, Real Estate Pro in Issaquah, WA
Dan Tabit answered:
Low 600's??
Brandon,
You can start with an agent who can refer you to a lender or with a lender who can refer you to an agent. Either way works. Your middle score will be what drives your appro ... more
0 votes Share Flag Sun Jun 19, 2011 Financing in Wisconsin
Carl Henker,  in 95928
Carl Henker answered:
Where do we get a loan for a mobile home?
US Bank may be able to help, not a lot of lenders to choose from. If the property is owner occupied you may find a lender who can provide an FHA loan. With a 20% down payment on an ow ... more
0 votes Share Flag Fri Jun 10, 2011 Financing in 54937
Lori Koschni…, Real Estate Pro in Manitowoc, WI
Lori Koschnick answered:
Who does Mortgages for manufactured homes?
Mary Kay,

Wells Fargo has won awards for being the leader in manufactured home loans. I'd give them a call and whomever currently holds the mortgage on the manufactured home if ... more
0 votes Share Flag Fri Jun 10, 2011 Financing in 54937
Jenmadison20…, Renter in Madison, WI
Jenmadison2011 answered:
Bankruptcy and home purchase.
PS - I should also add that I have very stable employment for nearly 3 years with the same company and my salary is $36k/year.
0 votes Share Flag Tue Jun 7, 2011 Financing in Madison
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
Suzanne MacD…, Real Estate Pro in Morristown, NJ
Suzanne MacDowell answered:
After filing for bankrupcy could we get a loan on a house? If not, when?
Rule of thumb is three years after bankruptcy filing you should be ab-le to purchase a home. However, I would recommend that you talk to a mortgage professional now. I have heard that ... more
0 votes Share Flag Fri Aug 10, 2012 Financing in Port Washington
Tony McMahon, Real Estate Pro in WHITE PLAINS, MD
Tony McMahon answered:
is it posible to have home owners insurence and property tax roled in to the monthley morgage payment?
Yes it is and most lenders require it be done that way.
0 votes Share Flag Mon Aug 8, 2011 Financing in 53511
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
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Bridge Loan
A bridge loan is a second loan that allows you to buy the home you want while trying to sell your current home. You are basically buying two homes so your credit and incomes vs debt hav ... more
0 votes Share Flag Wed Jan 28, 2015 Financing in Wausau
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