Financing in North Carolina : Questions & Answers

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Melvin List, Real Estate Pro in Florida
Melvin List answered:
Can I get a mortgage for an investment property and use the rental income to help qualify me? I don't mind having to put 25% down.
Yes you can use the rent payments to help you qualify for the investment property purchase. You can also the market rent even if the property is not currently rented. The appraiser wi ... more
0 votes Share Flag Yesterday at 5:51am Financing in Charlotte
Brian Martuc…, Real Estate Pro in Washington, DC
Brian Martucci answered:
Can I get a re-fi on my home that I've had financed with BOA for 13 years and never been late, but I have a chapter 13?
Is your BK 13 ongoing, or paid off? If ongoing when are payments up? You may be able to get an FHA loan.

Here is what Fannie Mae says on Conventional loans:

A distinction is made ... more
0 votes Share Flag Fri Mar 20, 2015 Financing in 28403
Jeff Hensel, Real Estate Pro in San Diego, CA
Jeff Hensel answered:
Anybody know of a reputable hard money lender in the Raleigh/Durham area?
Doing a quick Google search for "your area" hard money lenders will give you a good list to start with. You can also ask any agents, mortgage brokers or other real estate professionals ... more
0 votes Share Flag Fri Mar 13, 2015 Financing in Raleigh
Ernie Behrle, Real Estate Pro in 27604
Ernie Behrle answered:
Hello, I am looking for referrals for financing.We would like to become first time home buyers, looking for someone that has knowledge of different
Tanya.. for a lender, try Natalya Hill with Hamilton Group Funding 919-881-4121 x101. She and I have known each other for over 20 years now and have collaberated to assist many firs ... more
0 votes Share Flag Thu Mar 12, 2015 Financing in Raleigh
Ernie Behrle, Real Estate Pro in 27604
Ernie Behrle answered:
I am looking for a lender who is legit, and is willing to help me with an investment loan for a 4-bedroom condo in the Raleigh area.
Try Natalya Hill with The Hamilton Funding Group 919-881-4121 x101 I have known and worked with her for over 20 years now. Very Reputable !!
0 votes Share Flag Thu Mar 12, 2015 Financing in Raleigh
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
Can I get a home equity loan on a condo in NC?
It is possible, it will depend on many things but mainly how much equity you have in it. Speak to some banks and see if they offer home equity loans.
0 votes Share Flag Tue Mar 3, 2015 Financing in Raleigh
Tim Lancsek, Real Estate Pro in Kitty Hawk, NC
Tim Lancsek answered:
Are lending institutions loaning money for lot/land at the outer banks?
Absolutely! There are some very good programs out there that will lend on the land. Give me a call to chat about all options.

Tim Lancsek
ReMax Surfside
252-619-6089
tim@obxconsul ... more
0 votes Share Flag Tue Mar 3, 2015 Financing in Kitty Hawk
Ernie Behrle, Real Estate Pro in 27604
Ernie Behrle answered:
How large a downpayment do you need for an FHA loan?
I do believe that the percentage was just lowered to 3% of the sales price. I would suggest you contact a good local lender to answer any financing questions. Good Luck
0 votes Share Flag Sat Feb 7, 2015 Financing in Charlotte
Melissa Polce, Real Estate Pro in 28031
Melissa Polce answered:
Best approach for retirement home purchase home at age 65 with 50% down payment.
It is easy to say this because I am married to the Mortgage guy I am going to give you for your answer...but I would trust him...you can tell him "Melissa sent me to you to answer my qu ... more
0 votes Share Flag Wed Jan 28, 2015 Financing in Beaufort
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Best method to purchase 104,000 home with 50% down and payoff in 60 months. Should I try bank loan or mortgage for 15years and pay off early?
There is no one "best" method. It depends on what you and the seller want.

Another option is seller financing. I'd probably try that first, if only because you may find it difficult ... more
0 votes Share Flag Mon Jan 26, 2015 Financing in 28516
USMortgageRa…, Real Estate Pro in Austin, TX
USMortgageRanger answered:
had a chpt 7 bankruptcy that will be discharged for 2yrs in april.can I qualify for a mortgage with little to no money down?
Yes you can qualify under the current FHA guidelines with a 3.5% down pay payment and re-establish credit. Now is the time to sure up your credit if your are looking to move forward in ... more
0 votes Share Flag Sat Jan 24, 2015 Financing in Charlotte
Goseedo, Home Buyer in New York, NY
Goseedo asked:
Condotel loans in Carolina Beach North Carolina is it possible to obtain a condotel loan on a unit with approximately three hundred and fifty square feet, a kitchenette with full size refrigerator and a substantial down payment? We have…
0 votes Share Flag Wed Jan 14, 2015 Financing in Carolina Beach
Bryan Horn, Real Estate Pro in 92101
Bryan Horn answered:
FHA Loans from a distance
Alpha - FHA doesn't lend on second (2nd) homes so you'll have to have a job within a drive of an hour or two of the house you are buying. Why not buy in the sticks of New Jersey or ups ... more
0 votes Share Flag Fri Dec 26, 2014 Financing in Charlotte
lois8591, Other/Just Looking in Waynesville, NC
lois8591 asked:
In North Carolina can a ceramic wall mounted heater be considered a permanent heat source? I am looking to sell and need to know if these new ceramic wall mounted heaters are worth purchasing for the bedrooms they mount on the wall but plug into an outlet.
0 votes Share Flag Thu Dec 11, 2014 Financing in 28786
Tony Garcia, Real Estate Pro in Charlotte, NC
Tony Garcia answered:
I have several subdivisions in the Holly Ridge and Hampstead area with 30 to 40 lots with IP's, ready to build on. Who is making spec construc loans?
Emaill me at tony.garcia@banchomeloans.com. I can put you in contact with someone that can help.
0 votes Share Flag Fri Dec 5, 2014 Financing in 28411
Kristen Hous…, Real Estate Pro in 28075
Kristen Houston answered:
We are thinking about buying but have no idea as to what a good amount for down payment would be? Any suggestions, we are currently saving.?
The answer greatly depends on which lender you choose and the type of financing you will be using. In NC there are several down payment assistance programs that you may qualify for dep ... more
0 votes Share Flag Fri Nov 21, 2014 Financing in 28025
Simon Campbe…, Real Estate Pro in Miami Beach, FL
Simon Campbell answered:
Looking for 40,000 loan with poor credit.
There are other loan programs out there that accept less than ideal credit. One of these is FHA. FHA's website states: "Minimum credit score requirements for FHA home loans depend on wh ... more
0 votes Share Flag Tue Oct 14, 2014 Financing in Edenton
Ernie Behrle, Real Estate Pro in 27604
Ernie Behrle answered:
How to compare loans and choose the best?
I always advise my clients to meet with a local brokerage lender. They can shop for loans from not only the local banks, but out of state as well as private companies and investors. A ... more
0 votes Share Flag Mon Sep 1, 2014 Financing in 27587
Brad Chance, Home Buyer in 27344
Brad Chance answered:
how do you know if a home qualifies for a USDA loan? the web site doesn't seem to be working for me so that is out. Thanks
There is a USDA website where you type in the address
0 votes Share Flag Wed Aug 6, 2014 Financing in Asheboro
Dorene Slavi…, Real Estate Pro in Culver City, CA
Dorene Slavitz answered:
why do I have to be prequalified to just look inside a house? I would rather do the opposite.
There are many reason why a Professional Realtor will want to assist you with your "pre-approval" when you are serious about looking at property.
1.The owner of the property would lik ... more
1 vote Share Flag Sat Jul 12, 2014 Financing in Kings Mountain
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