tim_hunke

I'm a:	Just Looking
Location:	78757
Phone:	5127624500

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tim_hunke's Answers (18)

Looking for hard money lender to loan money against 5 acres with clear deed in La Grange, Texas

Asked Wed Nov 12 2008, 10:24 by ashlyn2221 - Austin - General Area - 4 answers

tim_hunke answered:

It sounds like you own this property and want to do an equity or cash out loan. I need to know what you think that the property is worth, how much did you pay for it, and how much do you want out. If this is a purchase then I need to know what the purchase price is and how much you can pay down.
tim_hunke@hotmail.com - Wed Nov 12 2008, 12:47

I love S. Austin,TX. But lately I have heard that it is not safe. I think it is eclectic and unusual.

Asked Sat Oct 11 2008, 10:59 by Mary Beth Se… - Austin - Crime & Safety - 8 answers

tim_hunke answered:

Mary Beth:
I too have lived in So. Austin for a long time... over 35 years and love it. If you go online you can check the number of police calls in the particular neighborhood that you are interested in. You of course can check the location of sexual preditors there too. I sure feel safer in So.Austin than other areas of North of the river. - Mon Oct 13 2008, 08:46

Can i buy a 100k home with a 510 credit score and a 700 cosinger?

Asked Sat Aug 23 2008, 15:05 by Richard - Austin - Home Buying - 12 answers

tim_hunke answered:

Richard:
Your dad will have to qualify for the home payment to be the borrower. I would try to put you on as a co-borrower. This requires two separate loan applications. This way you would be on the loan from the beginning and it would help your credit score immediately. If this won't work then your dad would be the sole borrower and would have the home in his name solely. I would then try to put you on title before before the loan closes. If you make the payments to the lender for a year and your credit improves thru a credit repair program, then you could refiance the home in your name and then your dad would be off the loan.

I hope that this helps. If you have any questions don't hesitate to call or email me. - Mon Oct 13 2008, 07:55

Richard:
Since your credit score is so low, I think that the easiest way to get into a property would be to let your father buy the property under his credit. Then you should write him a check each month for 1 yr. Being sure to keep copies of the cancelled checks and paying on time, sets up a senario for you to assume an FHA loan. He can put you on title to the property. You will need to work on getting your credit improved during that year. By
paying your father on time can help substantially. Give me a call and I will give you a road map to follow. - Mon Aug 25 2008, 08:06

Trying to buy a home

Asked Tue Sep 30 2008, 19:59 by Ad - Austin - Home Buying - 9 answers

tim_hunke answered:

Ad:
Before you start looking get with a mortgage lender, they will be helpful in getting you approved. Once you are approved whether it is FHA or USDA, then you can start looking with a realtor. - Wed Oct 1 2008, 08:30

Austin, TX - Min Down Payment

Asked Tue Jul 29 2008, 15:12 by Kristian - Austin - Home Buying - 17 answers

tim_hunke answered:

Kristian:
Your credit score will be the governing factor on your loans here in Texas. How much you feel comfortable putting down is another factor in recommending a loan. Secondly, how long you plan on living in the home
is an important factor in recommending an 80/15/5 or a 95% loan. A good lender will then show you a loan comparison and explain the pros and cons for you to decide which is the best for you. - Tue Sep 23 2008, 08:57

Cynthia: Down payments vary here based on many factors. For loans of $419K or less we can do loans that will require 0-3%; depending somewhat on where you decide to buy. For loans over $419K, I would recommend a fixed rate second mortgage. Should you prefer only one loan then you are looking at 10% down. Please remember, we are seeing changes daily in our lending industry, so what I tell you today may not be accurate next year. I think that you will find that you will be able to buy a very nice home at or below the $500K range. - Mon Aug 4 2008, 15:19

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