Jason

Titling could be the hold up. I have seen it where homes are being sold by one lender and the title is reading that someone else is on title by the time you make your offer. Banks sell the homes to other companies to handle their foreclosures sometimes making the process a major pain to clean up who is really in control. As far as waiting 3 months, that is 2 months too long. The issue at hand should be resolved by now or it probably never will. Feel free to contact me for other options for financing this property or starting over with a new home. An experienced loan officer can be the key to closing a loan or not closing and I have 8 years under me. I am a member of the Better Business Bureau and the Branch Manager at Equity 1 Mortgage. Call me at 816-547-1600 to discuss. - Thu May 1 2008, 18:50

purchasing a home for less than what assessed value normally means homes in that area also are being purchase under value. It actually hurts you purchasing the home for such a deal b/c all it is doing is lowering the value of other homes in your area. As far as fha, pmi is on all 30 year loans even below 80%. if you do a 15 year fha loan, no pmi if under 90% though. - Tue Apr 29 2008, 20:13

You have a few options: ask the builder to pay closing cost which can save you 3-6% off sales price. You can ask for upgrades for free. You can do both. You can just offer a lower bid than what the house is on market for. You have many options. Builders are willing to work with buyers, but you also need to know builders are pricing homes today with how the market is currently. Most have already lowered their margins. Feel free to email me at jdraut@equity1mortgage-kc.com or contact me directly at 816-777-5098 xt. 101. We are local and a member of the Better Business Bureau with a perfect record. - Sun Apr 27 2008, 21:26

The key to this questions is "Break-even" point. I would love to take an opportunity to run some numbers for you to see what option would best fit your needs. Feel free to email me at jdraut@equity1mortgage-kc.com or contact me directly at 816-777-5098 xt.101. We are members of the Better Business Bureau with a perfect record and located locally in Kansas City. - Sun Apr 27 2008, 21:12

My name is Jason and I am a broker at Equity 1 Mortgage with a perfect record with the Better Business Bureau. I am local and would love to discuss further your options for your first home purchase. Being a broker allows me to shop all lenders to get you the best deal the market offers. Feel free to email me at jdraut@equity1mortgage-kc.com or contact me directly at 816-777-5098 xt. 101 with questions or time to set up an appointment. - Sun Apr 27 2008, 21:06