Financing in Essex County : Questions & Answers

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Rob Weber, Real Estate Pro in Chicago, IL
Rob Weber answered:
Would any broker underwrite a VA mortgage with 61% DTI, plus 750 Credit Score and $2000/month residual income?
That seems like a tall order. Did you have a lender run it through the automated underwriting system yet? Did they get an approve but their lending guidelines cap you out at a lower num ... more
0 votes Share Flag Thu Apr 24, 2014 Financing in Haverhill
Robert Hanson, Real Estate Pro in Silver Spring, MD
Robert Hanson answered:
Young first time home buyers about to get married. Solid income but zero down. Are we stuck with a fixer upper? What are some of our options?
Timothy,
Depending on your income you may qualify for grants which can eliminate or reduce the down payment. If "solid" income means a lot you may not qualify. However, if "solid" mean ... more
0 votes Share Flag Mon Feb 24, 2014 Financing in 01907
Dana Lindberg, Both Buyer and Seller in Phoenix, AZ
Dana Lindberg answered:
What is a 203K loan? It appears to be some sort of rehab loan? What is needed to qualify? How much can you request? How do you do apply?
203k loan is a government program that enables you to purchase a home and finances certain upgrades and repairs as part of your mortgage.

For more details about 203k loan, visit www. ... more
0 votes Share Flag Sat Nov 2, 2013 Financing in 01915
jim_dasilva, Home Buyer in Marblehead, MA
jim_dasilva answered:
Putting in an offer on Tuesday for a single family property in Marblehead; have several options from LendingTree but would be happy to consider all
Contact Andy White at Stepstone Mortgage and save yourself the time/headache 781-608-5897 or andy.stepstone@comcast.net - speaking from experience
0 votes Share Flag Thu Dec 13, 2012 Financing in Marblehead
Heath Coker, Real Estate Pro in Falmouth, MA
Heath Coker answered:
I'm looking to purchase a investment property, should I stick to a mortage broker that specializes in investments?
Using a professional with experience in what ever you are working toward is always very helpful.


(Please note: when you choose an answer as a Best Answer, or at least give a thumbs ... more
0 votes Share Flag Sat Oct 6, 2012 Financing in 01835
Northeastgal, Home Buyer in Essex County, MA
Northeastgal asked:
2-Weeks to pack, seriously?? We signed the P&S have provided all of the documents for the Loan. Our commitment date is tomorrow, but appraisal hasn't come back yet, so we have been told that we need to file a request for an extension. We are supposed to close at the end of this…
0 votes Share Flag Wed Jun 13, 2012 Financing in Essex County
Trevor Curran, Real Estate Pro in Bronx, NY
Trevor Curran answered:
Is it possible to obtain a mortgage with less than 20% down payment?
If you are a Veteran of the Armed Forces and you qualify for VA Guaranteed mortgage financing, then eligible Veterans are permitted to financing up to 100% of the purchase price of the ... more
0 votes Share Flag Sun Apr 29, 2012 Financing in Haverhill
Daniel Rivera, Real Estate Pro in Daly City, CA
Daniel Rivera answered:
Can I obtain a mortgage with less than 20 % down?
Yes there are many options especially through government loans which provide special incentives in order for people to buy. Talk to a mortgage specialist.
0 votes Share Flag Mon Mar 26, 2012 Financing in Haverhill
Kevin Vitali, Real Estate Pro in 01876
Kevin Vitali answered:
Can I obtain a mortgage with less than 20 % down?
A little bit of a loaded question. Depends on the type of property, occupancy and credit profile. But there are programs that allow fr 3-3.5% down and even a few that allow 100% finan ... more
0 votes Share Flag Tue Mar 6, 2012 Financing in Haverhill
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
I need help knowing more about an FHA and commercial loans? as well as brining an property to code for rental income?
FHA is not limited to a first time homebuyer if that is what you are asking. Owning a rental property does not necessarily keep you from getting an owner occupied FHA mortgage if you q ... more
0 votes Share Flag Tue Feb 28, 2012 Financing in Methuen
George Raymo…, Real Estate Pro in Chino Hills, CA
George Raymondo answered:
650 credit 130000 dollar fha loan no points what should i be paying apr fha loan
You should consider these major two factors when shopping for a home loan regarding APR

1.) What is my interest rate?

2.) What are my lender fees?

My company has a policy to ... more
0 votes Share Flag Thu Aug 25, 2011 Financing in 01845
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
If your two from closeing ,bought from bank auction .9000.need to close in 30 days.two weeks away you get laid off .fha loan you qualify.you have
Who told the bank?
You wouldn't tell the Bank, would you?
How would they know?
0 votes Share Flag Sat Aug 20, 2011 Financing in 01845
KJ Parikh, Real Estate Pro in Edison, NJ
KJ Parikh answered:
what would a 15 year mortgage be fixed insurance taxes 360.on 130000 be
Pl provide additional loan info, 1) Is this conventional or FHA? 2) Single family residence or Condo? 3) FICO 740+ or less 4) LTV 75% or more 5) Is this Purchase, Refi or Cash out? 6) R ... more
0 votes Share Flag Mon Jul 25, 2011 Financing in 01845
Louis Wolfson, Real Estate Pro in Newton, MA
Louis Wolfson answered:
if i take a 15 year mortgae for 130000 taxes are 3600 how much will my mortgage be and insurance
Here is a mortgage calculator that may be of help

http://www.mortgagecalculator.org/
0 votes Share Flag Sun Jul 24, 2011 Financing in North Andover
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Can you get a FHA 203K Loan and a MISHDA Loan? If not does the FHA loan help cover the closing costs or down payment? If so how much?
Jennie - please get with Rudy on this, he definitely knows what he is talking about and can help you with those down payment assistance options since he is right there in Michigan, and ... more
0 votes Share Flag Thu Jun 30, 2011 Financing in 01915
John Burke, Real Estate Pro in Austin, TX
John Burke answered:
Qualifying for an FHA loan, while holding a convential loan on a rental unit.
Hi Casey,

You have a couple of excellent answers already but I thought I would point out one difference with FHA and rental income. IF you're relocating for work or to find work ... more
0 votes Share Flag Thu Mar 31, 2011 Financing in Swampscott
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