21771 : Questions & Answers

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Clarabellae, Home Buyer in South Miami, FL
Clarabellae answered:
FHA 203K - 3.5% down? Any fees for low down payment?
The down payment is 3.5% of the acquisition cost - this is the purchase price plus the construction costs. Keep in mind you will still have additional closing costs as well as a reserve ... more
1 vote Share Flag Thu May 21, 2015 Financing in 21771
Skylerasue, Home Buyer in Fort Worth, TX
Skylerasue answered:
Is the FHA 203K consultant paid out of pocket for all inspections or is it included in the loan?
"FHA 203K consultant’s fees are established by HUD and can found on the HUD website. These fees are paid directly to the consultant and not a lender charge. Fees for the consultant ca ... more
1 vote Share Flag Wed May 20, 2015 Home Buying in 21771
Robert Krop, Real Estate Pro in 21704
Robert Krop answered:
On the 203k streamline, is the 6% seller concessions calculated off of the sales price or the loan amount?
The seller concessions would be based on the purchase price.
0 votes Share Flag Tue Oct 14, 2014 Financing in 21771
Robert Krop, Real Estate Pro in 21704
Robert Krop answered:
How much will I pay monthly for a $329,900 mortgage? We are doing a VA loan. I would say interest at 4% . 30 year loan.
You will want to discuss this with your loan officer. They will be able to break down your exact payment for you.
0 votes Share Flag Tue Oct 14, 2014 Home Buying in 21771
Robert Krop, Real Estate Pro in 21704
Robert Krop answered:
How do home value estimates on various sites impact potential offers?
Valuations on real estate websites do not necessarily reflect real values. These values are determined by tax records and prior listing info and then those sites have algorithms to giv ... more
0 votes Share Flag Mon Oct 13, 2014 Home Buying in 21771
Kevin Olson…, Real Estate Pro in Colorado Springs, CO
Kevin Olson and Jessica Laude answered:
We own a manufactured home on 5 acres.We cannot find the HUD tag and we may not have one. It was built in 76. How can I refinance if I cant find it?
Hello,

Good news, I just went through this for the 3rd time so I have your answer! Chances are there is not a HUD tag (be sure to check all closets, kitchen cupboards, and beneath th ... more
0 votes Share Flag Sun Oct 3, 2010 Financing in 21771
Gary Smith, Real Estate Pro in Ridgeland, MS
Gary Smith answered:
Getting 203k loan - does electric need to be entirely up to code?
I assume you are going to hire the services of a professional home inspector before making any kind of real estate purchase. If so, great! I think you're making the right move. He/ ... more
0 votes Share Flag Sun May 30, 2010 Financing in 21771
Patty Smith,…, Real Estate Pro in Frederick, MD
Patty Smith, Realtor answered:
We have an 880 SQ town house in Mt. Airy. 2 bed 1 bath. About 1/2 of our neighborhood has the same lay out the other half is 1180SQ and have 3 bed 2
No, I would not suggest a master bedroom with a bath in the basement. For your best return, kitchens and baths are the items that bring you back the most return. If these areas need ... more
0 votes Share Flag Tue Mar 2, 2010 Home Selling in 21771
Mike Benton, Real Estate Pro in Owings, MD
Mike Benton answered:
5810 leslie ln. has been abandoned for over a year.Is it for sale?
Hello, As the other stated the records show who the owner is at this current time but it doesnt show if it is a foreclosure. You can look up the property tax records on your own. If you ... more
0 votes Share Flag Tue Jan 5, 2010 Foreclosure in 21771
Al Akerman, Real Estate Pro in New Jersey
Al Akerman answered:
Looking for financing for my first home. Which would suite best, FHA 203K S or USDA Rural Development section 502 Direct
Brian, I am sorry to hear about all those appraisal costs. Hopefully, if you decide to go FHA you can use the old appraisal again with little modification. Many banks want to order thei ... more
0 votes Share Flag Thu Dec 31, 2009 Financing in 21771
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