Financing in Columbus : Questions & Answers

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Brian Martuc…, Real Estate Pro in Washington, DC
Brian Martucci answered:
Is it possible to get a home loan with a credit score of 513? if so, does it make a difference being a first time home buyer?
We require 620 credit scores so we cannot help directly. I do know there are lenders that will do loans down to a 580 score. But the terms and down payment may be higher. It may be wort ... more
0 votes Share Flag Sat Apr 18, 2015 Financing in 43230
USMortgageRa…, Real Estate Pro in Plano, TX
USMortgageRanger answered:
Who does Non Owner Condo rate and term refinance in an age restricted project and does Fannie Mae allow this or not?
Yes you can still refinance a condo under Fannie Mae guidelines as Investment property with 25% equity or greater. I also have a few other portfolio condo loans for Investors. We are th ... more
0 votes Share Flag Fri Jan 30, 2015 Financing in Columbus
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
I am looking for mortgage officers or brokers that are experienced in va cash refinance. Please let me know.
Hi Eric,


Thank you for your service.

I'm a VA financing expert & can do VA cash-out refinances to 100% of your homes appraised value.
I would be honored to help you.

Take a ... more
0 votes Share Flag Fri Jan 9, 2015 Financing in Columbus
Tammy Van Le…, Real Estate Pro in Columbus, OH
Tammy Van Leer answered:
What portfolio lenders, or lenders who keep their mortgages in-house, work in the Columbus area?
Union Saving Bank is my best pick
0 votes Share Flag Sun Oct 12, 2014 Financing in Columbus
Tony Garcia, Real Estate Pro in Charlotte, NC
Tony Garcia answered:
How can I find a lender who works with alternative trade-lines? I have been searching for some time now, and have not been having much luck.
Kendra,

Email me at tony.garcia@banchomeloans.com I can help.
1 vote Share Flag Sun Aug 3, 2014 Financing in Columbus
Jeremy Forre…, Real Estate Pro in 43110
Jeremy Forrest Davis answered:
Hi I have LLC and 2 investment properties in Columbus. How do I go about getting loan. I'm not US citizen.
Start out by calling/emailing a local agent and asking him or her if they know of any loan officers that do international loans! most of us work with 3-4 different lenders and know tons ... more
0 votes Share Flag Wed Jul 2, 2014 Financing in 43228
Kelsey Fisch…, Real Estate Pro in Columbus, OH
Kelsey Fischer answered:
Hello all! I'm planning on buying some investment property in Central Ohio with a partner. Should we buy personaly or with an LLC?
I'm curious, what did you ultimately decide to do? And are you in the investment property business now?

Kelsey

-- Kelsey Unrue - Realtor Key Realty Ltd. Tel: (614) 607-0607 ... more
0 votes Share Flag Wed Dec 18, 2013 Financing in Columbus
Madams, Home Buyer in Lancaster, OH
Madams answered:
Lender financing for first time investor property to buy, fix and then sell or rent?
Hi Kash,

You might look at an opportunity where you can buy a duplex and live in one side rent free by your renters covering the mortgage payment. Then once you have established a sa ... more
1 vote Share Flag Mon Aug 26, 2013 Financing in Columbus
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Brian Nguyen answered:
I'm trying to refinance my home in WLV, CA, 91362. It's worth around $800-$840k, and I'm trying to refinance (approximately) $540k.
I'm not quite sure if there is a question you are asking but if you need help with financing I can definitely help! I am a mortgage banker in Southern California and I can provide you w ... more
0 votes Share Flag Wed Aug 14, 2013 Financing in Columbus
Lee Ritchie, Real Estate Pro in Columbus, OH
Lee Ritchie answered:
Looking for a buyer in zip code 43207
I specialize in the urban market and will be showing homes to an investor in your area today. You may contact me if you wish.

Lee Ritchie
Remax Metro Plus
614-595-0732
columbusur ... more
0 votes Share Flag Sun Aug 11, 2013 Financing in 43085
Melissa Adams, Real Estate Pro in Columbus, OH
Melissa Adams answered:
I am looking for a Mortgage for Owner Occupant that is not based on credit score. Maybe Private Lender or Asset Based Loan.
Hi Michelle,

I'm not aware of any that are not credit score based anymore. However we have lenders that will go down to a 560 credit score. If that fits with your situation give me ... more
0 votes Share Flag Thu Aug 8, 2013 Financing in Columbus
Melissa Adams, Real Estate Pro in Columbus, OH
Melissa Adams answered:
Getting financing for a non fha approved condo in east columbus?
Hi Kash,

I just had this happen to one of my clients that we could not finish a condo purchase transaction because the condo was not FHA Insurable. This was the problem. The Condo co ... more
0 votes Share Flag Thu Aug 8, 2013 Financing in Columbus
Brian Nguyen, Real Estate Pro in Mission Viejo, CA
Brian Nguyen answered:
is it possible to buy a first house as an investment property. i am staying with relatives now, and not ready to move yet.
It is possible depending on the loan and your finances. Invest properties usually require 20%-25% down payment depending on the loan-to-value ratio. Also, a minimum credit score of arou ... more
0 votes Share Flag Thu Aug 8, 2013 Financing in Columbus
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
I need a cash-out refi lender in Ohio for a NOO with no seasoning requirements for Buyer that paid cash
Refinances
Chapter 2
Mortgage Credit Guidelines
Page 2-19

A refinance transaction involves paying off an existing real estate debt from proceeds of a new mortgage. For all refinan ... more
0 votes Share Flag Sun May 26, 2013 Financing in Columbus
Jodi Mccoy V…, Real Estate Pro in Columbus, OH
Jodi Mccoy Vermillion answered:
Conventional Loan with low or no downpayment
You can actually do 3% down on a condo - just depends on the condo and if it's conforming:)
Give me a call or email!

To apply online go to: www.lenderohio.com

Jodi McCoy Vermill ... more
0 votes Share Flag Sat Feb 9, 2013 Financing in 43201
Jodi Mccoy V…, Real Estate Pro in Columbus, OH
Jodi Mccoy Vermillion answered:
Are there any mortgages available for a jumbo refinance with a high LTV? Applicants have documented income and good credit rating. Thanks!
90%ltv - 417k on the first, 10% down and then a 2nd interest only!
About 3.625% on the first if not better and around 5.5% i/o on the second.
This will help to avoid any PMI
0 votes Share Flag Sat Feb 9, 2013 Financing in Columbus
Jeffrey Smith, Real Estate Pro in Columbus, OH
Jeffrey Smith answered:
I seen a home that I could posssibly afford but my credit score is low. Are there any programs that can help me work towards raising my score?
The best place to start is find out your credit score. Once you know that, reach out to a lender and see if they have programs that fit your criteria. If you do not qualify right now, h ... more
0 votes Share Flag Sun Dec 30, 2012 Financing in 43085
Molly Hay,SFR…, Real Estate Pro in Columbus, OH
Molly Hay,SFR,CDPE & CNHS answered:
Is there any bank that could do 5% down for a non-conforming, non-fha condo?
Key Bank has a porfolio loan that may work but the only bank I know of that definitely will is Cooper Bank and Third Federal but they do require 10% down. Have you considered a detached ... more
0 votes Share Flag Sun Sep 30, 2012 Financing in Columbus
Bev Woodford, Real Estate Pro in 43068
Bev Woodford answered:
would a mortgage company require a larger down payment if I buy a small house out of state?
I don't think the size has anything to do with it. Some lenders have an issue with make loans under
$50,000. Do you mean small in size or small in loan amount?
0 votes Share Flag Fri Aug 3, 2012 Financing in Columbus
Terry Bell, Real Estate Pro in Santa Rosa, CA
Terry Bell answered:
How hard is it to get preapproved for a home loan with bad credit?
Dear Julie, this is a time to act on your desire to own a home, and not act on trying to get this particular house. Your credit is low, but can probably be easily increased with the he ... more
0 votes Share Flag Thu Jul 19, 2012 Financing in Columbus
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