Financing in Akron : Questions & Answers

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Hannah, Real Estate Pro in Larkspur, CA
Hannah answered:
I have a foreclosure on my credit will this stop me for getting another house loan..?
Hi Donte,

You can get home loans from various sources. For example, if you have a family member or a friend who has money in a CD earning 1%, you might be able to have them put the ... more
0 votes Share Flag Wed Apr 16, 2014 Financing in 44305
Karen Peyton, Real Estate Pro in Chandler, AZ
Karen Peyton answered:
My credit is really bad due to three years of unempolyemnt and a bankrupcy but now Iam back working I want to buy a house. Any suggestion or advice?
Hi Holley,

I suggest you contact a lender with regard to your credit and ask them to pull a credit report. Sometimes credit is better or worse than originally thought, but if you don ... more
0 votes Share Flag Sun Apr 13, 2014 Financing in Northwest Akron
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Brian Nguyen answered:
If you are on a time constraint, big banks like Chase and Wells Fargo may not be your best choice. Big banks are known to have slow service when it comes to getting a loan. You should c ... more
0 votes Share Flag Wed Oct 30, 2013 Financing in Akron
wcom, Home Seller in Canton, OH
wcom answered:
I am a single mother : If I am trying to purchase a home between 10,000 - 25,000 do I have to have perfect credit to get a loan?
My house is in Canton. It is empty and ready to move in. I am asking $21,900. No rents to own. I want to SELL this house. Call me for more details at 724-628-9285
0 votes Share Flag Sat Sep 14, 2013 Financing in 44320
Tom McCombs, Real Estate Pro in New Franklin, OH
Tom McCombs answered:
Does anyone have any opinions on what interest rates will do in the next 6 months? I'm interested to hear everyone's opinion.
Interest rates will trend upward at a fairly slow rate, and will end up this year at 5.01445 %. Unless of course something happens to change this. And I have factored in a + or - 1% mar ... more
0 votes Share Flag Sat Sep 7, 2013 Financing in Akron
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
Will a credit score of 620 keep me from owning a home?
The answer is NO. A 620 won't keep you from owning a home. FHA allows scores lower than that and contrary to the belief of many here, it's not that hard to find.

As everyone else st ... more
0 votes Share Flag Wed Jun 27, 2012 Financing in 44313
203k Contrac…, Real Estate Pro in Phoenix, AZ
203k Contractor Program answered:
We must get some major repairs done to our property and want to pay off a high rate credit card. We only have about $10k equity in the house, but
HI Louise,

You should consider the FHA 203(k) loan, which allows you to refinance your mortgage and include in the refi, the cost of repairs/rehab/improvements. The FHA 203(k) loan a ... more
0 votes Share Flag Wed Oct 20, 2010 Financing in Akron
Tom McCombs, Real Estate Pro in New Franklin, OH
Tom McCombs answered:
I would like to know someone in Akron Ohio who is experienced in Owner financing procedure
I am experienced in this kind of financing here in Akron (or other areas).
Each situation is different and needs its own analysis. If you will contact me I can start you off in the rig ... more
0 votes Share Flag Mon Oct 18, 2010 Financing in Akron
Tom McCombs, Real Estate Pro in New Franklin, OH
Tom McCombs answered:
If my husband filed bankruptcy this year, and I have a foreclosure from 2 years ago, when would we be elgible to purchase a home?
As you can see by reading the previous answers, there are differences of opinion as to when you can buy your next home. The credit score is only one factor to be considered, while your ... more
0 votes Share Flag Mon Oct 18, 2010 Financing in Akron
Don French, Real Estate Pro in Canton, OH
Don French answered:
What do you do when an appraiser brings back valuation far below expected? My refi is dead in the water because comps 3 miles away were used to get
Replacement cost has no bearing on market value; it is merely something your insurance company uses as a basis for determining what they may have to spend in case of an insured loss. I ... more
0 votes Share Flag Tue Mar 23, 2010 Financing in Akron
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
If I make $60,000 a year, does that mean I can look for houses that are $180,000 and below?
I wouldn't look for any homes period until you speak to a local, reputable lender who can help you establish a price range. Just because you may be able to qualify for a $1 ... more
0 votes Share Flag Tue Feb 2, 2010 Financing in Akron
Will, Real Estate Pro in Atlanta, GA
Will answered:
Does anyone know lenders in the Akron, OH area that still offer the 203k Streamline Loan?
Ineligible improvements:

. Major rehabilitation or major remodeling, such as the relocation of a load-bearing wall;
· New construction (including room additions ... more
0 votes Share Flag Sat Jun 28, 2008 Financing in 44306
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