Financing in Mount Airy : 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
0 votes Share Flag Thu May 21, 2015 Financing 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
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?

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
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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