02917 : Questions & Answers

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Shelly D'ami…, Real Estate Pro in Rhode Island
Shelly D'amico answered:
smithfield ri, maket value versus list price. why would a home be listed 20 to 30 thousand dollars above market value?
Hi Juan, thank you for your question here. If it's in regards to this property on 3 Friendship Lane in Smithfield, I am the listing agent. The reason the Value/list price ratio seems ... more
0 votes Share Flag Thu Oct 17, 2013 Home Buying in 02917
Shelly D'ami…, Real Estate Pro in Rhode Island
Shelly D'amico answered:
I am a novice at property purchases and am looking to buy a 1-2 br condo. How do I go about getting pre-approved for a mortgage?
Hello, I am sure you've been offered much advise. I would refer you to a lender her name is Anna Akaian, from Best Mortagage New England in Cranston she where they are located. She ca ... more
0 votes Share Flag Thu Oct 17, 2013 Home Buying in 02917
Elva Wormley, Real Estate Pro in San Jose, CA
Elva Wormley answered:
Do you have to wait an additional 2 yrs with FHA if you go from a per diem position?
Hi Helene,

This is from the FHA handbook:

2-6 STABILITY OF INCOME. We do not impose a minimum length of time a borrower must have held a position of employment to be eligible. How ... more
0 votes Share Flag Mon May 21, 2012 Financing in 02917
Rich Homer, Real Estate Pro in 34108
Rich Homer answered:
Do you have to wait an additional 2 yrs with FHA if you go from a per diem position?
That is a question for good local Mortgage Broker. Find one here http://www.trulia.com/voices/directory/02917-mortgage_broker_or_lender--41723
http://www.naplesrealestateguys.com/
0 votes Share Flag Sun May 20, 2012 Financing in 02917
Irina Karan, Real Estate Pro in 33160
Irina Karan answered:
i know there is no set answer but generally how much would it cost to change from oil to gas for a 976 sq ft home
Hello Helene,

You can call a gas company to check on this.
However, when changing oil to gas, be very careful re. environmental hazards that come with oil tanks being removed...You ... more
0 votes Share Flag Sat May 5, 2012 Home Buying in 02917
Irina Karan, Real Estate Pro in 33160
Irina Karan answered:
how much to upgrade electric from fuses to 200AMP?
Hello Helene,

You got to call in a local electrician for this - you can ask your agent, your friends/family, or Service Magic referral service for a reputable electrician.

Best to ... more
0 votes Share Flag Sat May 5, 2012 Home Buying in 02917
Irina Karan, Real Estate Pro in 33160
Irina Karan answered:
regarding 2 year employment rule for per Diem taxable income counting toward mortgage qualification.
Hello Helene,

Per diem income is sort of like self-employment income when it comes to calculating the monthly income, used to figure out your debt to income ratio.

This means the ... more
0 votes Share Flag Sat May 5, 2012 Home Buying in 02917
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
what is typically your middle score trans union or equifax. also how much higher or lower would experian be.
Experian is most widely used so it seems to be the highest. Depending on what area of the country you live, you will have completely different scores. Trans Union is usually the middle ... more
0 votes Share Flag Mon Apr 16, 2012 Credit Score in 02917
Scott Burch, Real Estate Pro in Rhode Island
Scott Burch answered:
For a $150000 home how much cash on hand do you need at closing. Not including closing costs and the down payment.
I'm a Rhode Island Realtor and would like to help you every step of the way. Please contact me at 401-722-HOME (4663) or at

www.buyahomeinRI.com

I would like to sit with you ... more
1 vote Share Flag Fri Jan 20, 2012 Home Buying in 02917
Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
can you get 100% financing in Warwick RI since there are many foreclosures in that town?
You misunderstand how lenders work. The more foreclosures there are the less likely they will be to offer anyone 100% financing, why do you think there are as many foreclosures as there ... more
0 votes Share Flag Fri Jan 20, 2012 Home Buying in 02917
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
if unpaid auto charge off nolonger shows on report should i settle or leave it alone. And try for mortgage approval.
Even if your charge off for the auto is older then 7 years old it would probalby still show up on your credit report. Many companies report charge offs every couple of years so that it ... more
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
wil FHa allow 2 years of steady per diem taxable income to be included in mortgage qualification amount.
Helene,
If the income will continue then it can be included.
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Bob Movin-On, Real Estate Pro in Hartford, CT
Bob Movin-On answered:
unpaid auto charge off doesnt show on credit report sny longer. should i settle it or just leave it alone because it nolonger shows ?
Did you check all 3 credit reporting agencies?

If it was charged off and there was no law suit or judgement you could let it ride, depends on how you feel as a person.

Good Luck ... more
0 votes Share Flag Sun Jan 8, 2012 Financing in 02917
Robert Cruda…, Real Estate Pro in Coventry, RI
Robert Crudale answered:
can you get a silent second mortgage with an fha loan?
RI Housing is your best bet for the silent second. It is a great way for first time home buyers to take advantage of some extra money. There are also some great "Stepped Rate&quo ... more
0 votes Share Flag Fri Sep 30, 2011 Home Buying in 02917
Bill Polack, Real Estate Pro in Atlanta, GA
Bill Polack answered:
2 Years ago I did peaceful possessions on my car, and am now having a hard time getting financed for a mortgage....is there any help?
If you want someone to help you "fix" your credit, then contact RJ. I'm in GA and not familiar with NY laws with regard to credit repair. With regard to your repossession ... more
0 votes Share Flag Wed Jan 12, 2011 Financing in 02917
Bob Sparn, Real Estate Pro in 02857
Bob Sparn answered:
I have investment property in Rhode Island I am trying to sell.
I understand your need to sell the property for a certain amount. There are many factors in the market place affecting value, it may be your properties condition, location, how it being ... more
0 votes Share Flag Thu Dec 31, 2009 Home Selling in 02917
Sandra Brown, Real Estate Pro in Cranston, RI
Sandra Brown answered:
if a home has a gas stove but oil heat does it mean that you could possible convert to gas heat instead of oil
Hi Helene,
Just because the property has a gas stove it doesn't mean that gas is available in that area. I have a gas stove, (I would rather cook with gas) I use propane tanks for it ... more
0 votes Share Flag Tue May 19, 2009 Home Buying in 02917
Christopher…, Real Estate Pro in Cumberland, RI
Christopher Cox answered:
with a 5 yr old unpaid auto repo can you get approved for an fha rural development loan
Hi Helene,

I am not trying to be rude here, and please don't take it that way. But that really is a question that can only be answered by a mortgage broker who actually takes a cred ... more
0 votes Share Flag Fri Apr 24, 2009 Home Buying in 02917
Christopher…, Real Estate Pro in Cumberland, RI
Christopher Cox answered:
Why are vantage scores so much lowe than fico score?
Hello Again Helen,

I am a little confused. The vantage score should be higher? It is on a scale with a max score of 990 instead of a top score of 850 for FICO? It utilizes a compl ... more
0 votes Share Flag Sun Apr 19, 2009 Home Buying in 02917
Helene Moret…, Home Buyer in 02917
Helene Moretti asked:
Since experian uses vantage scoes now, which are much lower than fico scores, which scores do lenders look at? Which scores decide your mortgage rate?
0 votes Share Flag Sun Apr 19, 2009 Home Buying in 02917
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