Home Buying in Champaign : Questions & Answers

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Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
Need advice on seeking a non-FHA loan for a condo.
In order to get by with a smaller down payment, the condo does not necessarily need to be FHA approved, however, it would need to be Fannie Mae or Freddie Mac approved. If it has this ... more
0 votes Share Flag Fri Mar 21, 2014 Home Buying in Champaign
Patty Harris…, Real Estate Pro in Naperville, IL
Patty Harrison 630-854-3459 answered:
I really would love my own home someday. I was wondering, since my credit score is not the best (less than 600) would it be a waste of your time.
Hello:

I am a local mortgage broker and would be happy to help you get pre-qualified. We work with over 30 lenders to help you get the best possible financing. We have residential, c ... more
0 votes Share Flag Wed Feb 5, 2014 Home Buying in Champaign
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
Why cant I get a short two year home loan for 19000?
Wells Fargo just financed a $17,000 condo purchase in a community that was a land lease.
That credit history can be the problem. I NEVER like sending anyone to Wells, BofA or chase. - ... more
0 votes Share Flag Mon Jan 27, 2014 Home Buying in 61820
Jesse Stauff…, Real Estate Pro in Champaign, IL
Jesse Stauffer answered:
Can international student with F-1 visa get mortgage approved?
Maryam,

It is possible to do. The first thing you should do is talk to lenders and get approved. If you wish I can give you a list of lenders in the area. Also, sitting down with ... more
1 vote Share Flag Tue Jan 7, 2014 Home Buying in Champaign
Nate Evans, Real Estate Pro in Champaign, IL
Nate Evans answered:
I am buying a home in Champaign, Illinois which was built in 1985.Do I need to worry about asbestos?
This answer may find you late, but could help another individual. In 1989, the Environmental Protection Agency issued a final rule that banned almost all products that contained asbesto ... more
0 votes Share Flag Fri Nov 15, 2013 Home Buying in Champaign
Nate Evans, Real Estate Pro in Champaign, IL
Nate Evans answered:
Does trulia screen or confirm that owners who list on trulia are actually the owners of the property the are listing?
I would have to agree with Scot and Annette. We consistently get calls from renters that are under the impression that the property is for rent, when actually the property is only avai ... more
0 votes Share Flag Fri Nov 15, 2013 Home Buying in Champaign
Ashley Pimen…, Real Estate Pro in Illinois
Ashley Pimentel answered:
I'm a veteran and have poor credit. I'm wondering if I would be able to get a mortgage to purchase a mobile home?
Thank you for your service. I am a loan officer who works with over 40 lenders. For VA loans we go down to 500 fico scores. To find out if you're able to get pre-appproved, I will have ... more
0 votes Share Flag Thu Oct 31, 2013 Home Buying in 61820
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
negotiating for the price
yel...

2004 was a different "life time" in terms of real estate and the market was flooded with foreclosures that were increasing daily. The economy was in the "crapper" and many peo ... more
0 votes Share Flag Sat Oct 26, 2013 Home Buying in Champaign
Cindy Yim, R…, Real Estate Pro in Champaign, IL
Cindy Yim, Realtor, CIPS answered:
Do I need an attorney besides real estate agent to make an online offer on foreclosed properties?
Yes, you will be glad to hire the attorney for your purchasing.
Good luck~!
0 votes Share Flag Sat Oct 26, 2013 Home Buying in Champaign
Cindy Yim, R…, Real Estate Pro in Champaign, IL
Cindy Yim, Realtor, CIPS answered:
Can I afford to buy a house, and if so, how much?
Yes, there is always a chance since there are properties which are less expensive.
You may talk to your lender of your choice and find it out different grant according to
the city or ... more
0 votes Share Flag Sat Oct 26, 2013 Home Buying in Champaign
Cindy Yim, R…, Real Estate Pro in Champaign, IL
Cindy Yim, Realtor, CIPS answered:
How much can i expect to pay in closing costs for a $150,000 house in Champaign-Urbana, IL?
It all varies according to the lender so you may shop around several banks.
0 votes Share Flag Thu May 2, 2013 Home Buying in Champaign
Patty Harris…, Real Estate Pro in Naperville, IL
Patty Harrison 630-854-3459 answered:
can i get a fha loan with 4% down and a credit score of 650?
Hello:

I am a local mortgage broker and would be happy to help you get pre-qualified. FHA only rquires 3.5% down or depending on the home you find it may qualify for the $100.00 dow ... more
0 votes Share Flag Tue Feb 12, 2013 Home Buying in Champaign
Sonja  Tani, Real Estate Pro in Snellville, GA
Sonja Tani answered:
i want to buy a mobile home for 22,000 and i want to know how to get a big enough loan to buy it with bad credit.
Hi Sweetbean,

You're talking about buying a Mobile Home. May I assume that it is already on a foundation and includes the land. If that is the case and you have sufficient down pay ... more
0 votes Share Flag Thu Dec 6, 2012 Home Buying in 61820
Jennifer Mcl…, Real Estate Pro in Champaign, IL
Jennifer Mclennand answered:
can you get a fha loan with no money down in illinois?
Shannonlee, all the replies from fellow brokers have been excellent! I cant add much more other than to say, you need to consult w your lender and your realtor to help assist you throu ... more
0 votes Share Flag Wed Aug 15, 2012 Home Buying in 61822
Mike Cross, Real Estate Pro in Champaign County, IL
Mike Cross answered:
Is it wise to buy a house of 7 years old?
Age has nothing to do with the value of a home. Condition is what matters most and of course what is around it. Are the homes well kept, is the condition of the home well kept or are yo ... more
0 votes Share Flag Sat Jun 30, 2012 Home Buying in Champaign
Cindy Yim, R…, Real Estate Pro in Champaign, IL
Cindy Yim, Realtor, CIPS answered:
I have a client who is interested in purchasing a condo for his daughter who is a student at U of I. Is there ever anything on the market near campus?
Dear Mr. Jeffery,
Yes, there are few, starting $77,000-.
I would be happy to assist your client.
Cindy Yim, Broker/Owner

Tel: 217-359-2310
Cell: 217-390-4351
Email: usworld@yaho ... more
0 votes Share Flag Sat Mar 3, 2012 Home Buying in Champaign
Rodica Tarit…, Real Estate Pro in Champaign, IL
Rodica Taritsa answered:
We plan to buy a house close to the University for my boys during their graudate study. How to start search?
Several things matter. Your price range, travel time to campus, and condition of the house. Professional real estate advice is free and effective. Current inventory of houses on the mar ... more
0 votes Share Flag Tue Jan 31, 2012 Home Buying in Champaign
Joseph Inman, Real Estate Pro in Champaign County, IL
Joseph Inman answered:
what are the benefits, if there are, to buy a relocation property?
Relocation listings are properties/homes offered up for sale because the owner is being required to move for their job. The seller is very motivated(Some companies can give out bonuses ... more
0 votes Share Flag Tue Dec 20, 2011 Home Buying in 61821
John Walin, Real Estate Pro in Libertyville, IL
John Walin answered:
Do you always give 10% of the purchase price to a title company for them to do te searc.?
Jerry is right, a title policy is required to protect the lender, and a really, really good idea if you are paying cash, (not required) never heard it getting up tp 10% unless it is a h ... more
0 votes Share Flag Tue Feb 22, 2011 Home Buying in Champaign
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