Kuleen

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Kuleen, in Houston
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Kuleen's Questions (6)
Kuleen's Answers (17)
Kuleen, Real Estate Pro in Houston

Need Financing $812.5K purchase price will put 20% down. This is an investment property condo purchase.

Asked Mon Sep 22 2008, 11:10 by Kuleen  -  Clear Lake  -  Financing  -  2 answers
Kuleen answered:
Sean... please call me if you feel you can get this deal done. Interest rate does not matter at this point. I just need to get the deal closed. Property has 80 units total and FNA approved. Here is the condo website. http://www.endeavourcondo.com/

713 821 9738 - Mon Sep 22 2008, 12:07
Www.LenderPo…, Real Estate Pro in Los Angeles

Do You Trust Mortgage Lenders?

Asked Wed Aug 27 2008, 14:22 by Www.LenderPo…  -  Los Angeles County  -  Financing  -  11 answers
Kuleen answered:
Yes trust only reputable lenders. Lenders being the key word not brokers. - Wed Aug 27 2008, 14:34
Alicia, Home Buyer in Jacksonville

Is it possible for a first time buyer to roll closing costs into the mortgage in order to not deplete savings?

Asked Wed Aug 27 2008, 11:28 by Alicia  -  Jacksonville  -  Financing  -  7 answers
Kuleen answered:
That is incorrect. Oct 1st eliminates seller funded down payment assistance. After October 1st you will be required to bring a minimum of 3.5% to closing. This can still be a gift from a friend, or family member. Local and State funded DPA's will still be available.

Even after October 1st you will still be allowed to roll in all closing costs up to 6%. Many times the closing costs can be equal to the down payment or more. - Wed Aug 27 2008, 14:23
Yes it is possible and you can roll in all closing costs. There is a way to structure the deal and the property must appraise so that the amount can be rolled in. Your realtor will have to structure the contract. This structure is called a seller concession. If you decide to take and FHA loan 6% can be applied towards closing costs.

If you are interested receiving some competitive rates quotes please call or email me. Iwayloan is a mortgage banker as opposed to a broker.

KULEEN LALA
MORTGAGE BANKER
(713) 821 9738
TOLL FREE 1-877-886-5626 x 138 http://www.IWAYLOAN.com
RANKED #1 MORTGAGE COMPANY IN HOUSTON
AUSTIN BUSINESS JOURNAL TOP 25 LENDER 2002, 2003, 2004, 2005
BROKER MAGAZINE LISTED IWAYLOAN # 26 IN COUNTRY FOR NON-CONFORMING LOANS 2005
HOUSTON BUSINESS JOURNAL - 2003, 2004 SMALL BUSINESS 100 - Wed Aug 27 2008, 13:34
Marcus, Home Buyer in

I have good enough credit to get approved for an FHA loan. My wife was terrible credit. Can I get it done?

Asked Fri Aug 22 2008, 21:27 by Marcus  -  Fort Worth  -  Financing  -  6 answers
Kuleen answered:
Everything mentioned below is correct. However our bank will allow you to go down to a 580 credit score with no adjustment to rate. Iway loan is a mortgage banker and specializes in FHA and conforming loans. Please call me if you are interested in discussing your scenario.

KULEEN LALA
MORTGAGE BANKER
(713) 821 9738
TOLL FREE 1-877-886-5626 x 138 http://www.IWAYLOAN.com
RANKED #1 MORTGAGE COMPANY IN HOUSTON
AUSTIN BUSINESS JOURNAL TOP 25 LENDER 2002, 2003, 2004, 2005
BROKER MAGAZINE LISTED IWAYLOAN # 26 IN COUNTRY FOR NON-CONFORMING LOANS 2005
HOUSTON BUSINESS JOURNAL - 2003, 2004 SMALL BUSINESS 100 - Mon Aug 25 2008, 09:15
Laura, Home Buyer in Riverside

Question removed

Asked Wed Aug 20 2008, 12:51 by Laura  -  92501  -  Financing  -  4 answers
Kuleen answered:
80/20 Highly unlikely. Best option would be to go FHA and take advantage of down payment assistance before Oct 1st unless it is extended (same concept as 100%). Have all closing costs paid for by seller.

Also you stated no purchase price. Assume the cost to borrow including PMI is around $6.50 per thousand. $250K = $1625 mo + taxes/insurance. - Wed Aug 20 2008, 13:10
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