Andres Munar

Sam,

Even though I am a mortgage specialist I took the real estate courses. And the one thing my teacher said and it has stuck with me is EVERYTHING MUST BE IN WRITING!!!!! plain and simple hope that helps - Thu Jul 17 2008, 06:50

Hi Ashley,

First off congrats on paying off your debt it what many people strive to do and it takes them a life time. If you have your VA eligibility you can borrow 100% of the purchase price and ask the sellers for help with closing costs. So that way the amount that you have to contribute to the transaction is very very minimal. I am able to do loans in VA if you should need assistance. Should you have any questions or need further help please feel free to contact me.Thank you and good luck

Andres Munar
Mortgage Specialist
800-839-6186x334 Office
814-308-3276 Cell - Thu Jul 17 2008, 06:48

Andrea,

If you are purchasing an investment property you will need more than 5% down. Most banks or lender will require at least 10% and some even between 20-30%. When you are shopping for a mortgage it is good to compare apples to apples. You can compare a good faith estimate but the most important thing to compare is your truth in lending. This tells you which bank or lender is giving you the best deal.

I totally disagree with Luke and not just because I work for a broker but I just had a client that the bank wanted to give them 6.75 and I gave them 6.25. Banks have tight guidleines just like us, they have certain requirements just like us, and they have gotten rid of programs just as we have. Should you need any further assistance please feel free to contact me. Thank you and good luck

Andres Munar
mortgage specialist
814-308-3276 Cell
800-839-6186x334 Office
HABLO ESPANOL - Fri Jul 11 2008, 12:17

Michael,

We have an FHA lender as as well as a program that would allow you to use alternate tradelines such as 12 months worth of rent payments, car payments, insurance, electric etc. Do you have any bad debt obligations on your credit report? Also do you have money to put down? If you should have any questions or need further assistance please let me know.

Andres Munar
Mortgage Specialist
800-839-6186x334 Office
814-308-3276 Cell - Wed Jul 9 2008, 11:41

William,

Yes there are hard money lenders out there. Like Dale said below their max loan to value will be tops 70%. Some lenders will do it based off the finished price and some will do it based off the cost to build. Just remember hard money is also based off your credit, are you able to prove income, do you have assets etc. Should you need any further assistance please let me know. Thank you and good luck

Andres Munar
Mortgage Specialist
800-839-6186x334 Office
814-308-3276 Cell
Hablo Espanol - Tue Jul 8 2008, 07:23