Rebecca A. Bass, Real Estate Pro in Tampa, FLI have been doing mortgage financing for 20 years and specialize in condo financing in Florida. To answer your question, there are several variables that need to be identified in this scenario (I.e. occupancy, income source, program and term, etc) I would love to discuss this current with you at your convenience and get you an attractive and accurate rate quote.A moment ago - [x] delete... more
You can contact Mr. Mo Kamazaledh of Resmac Mortgage.
His number is 561-289-3165 or 954-246-3520.
He is extremely qualified and gets deals done.
Pablo Torres, MBA
AF Realty, LLC
Well hi Stephen. As we discussed when you first contacted me in February, it is possible for foreign nationals to get mortgage loans in the USA. I have an Australian client who got a very nice deal from Wells Fargo. Let me know if you would like the name of the loan officer.
What is not possible is to get financing for the low end condos you are looking to find. Under $50,000 condos are pretty much a cash market. Banks are looking for Foreign Nationals to make a fairly serious financial commitment. I doubt they'll admit it, but I don't think they want to bother with loans to foreign nationals of less than $100,000. Add in the requirement for 30 to 40% down and you'll quickly see that the minimum you've got to spend is around $150,000.... more
I know a really good mortgage broker, Tim Hart of Hart Mortgages; they are located in West Side of Florida, but does mortgages all over the state. He has the best prices and rates. I think putting only 5% down you will pay PMI. Remember the mortgage insurance is to protect the lender in the event you default on the loan. Since a buyer putting down a lower percentage has higher motivates to walk away in tough economic times, it would be nearly impossible to not pay PMI, unless of course you are paying a higher interest rate. Here is Tim's website, http://www.hartmortgageservices.com
ps. Here is a blog i wrote in response to WSJ article of "Homes Return to Pre-Bubble Prices"
Best of luck.... more
A reverse mortgage is a special type of home loan that lets you convert a portion of the equity in your home into cash. The equity that you built up over years of making mortgage payments can be paid to you.
To be eligible for a FHA HECM, the FHA requires that you be a homeowner 62 years of age or older, own your home outright, or have a low mortgage balance that can be paid off at closing with proceeds from the reverse loan, and you must live in the home.... more
Yes, but there is a minimum time you must wait to do so. You must also have three open and active accounts in your credit report for at least 12 months. For a confidential consultation call me.
Florida Mortgage Coach
If you credit issues are less than 2 years old you need wait till your debt seasons over 2 years. Then for credit repair based on statues .
If you credit issues are over 2 years BASED on issues can take 60 - 90 days clear IF completed correctly. I owned a credit repair company for 10 years consultant to many
It is your mid score concerned about
Confer with mortgage broker determine if your can secure a loan IF YES GREAT
You would need 2 years solid employment, 3.5% or more down payment, debt to income ratio in check
There is an old stigma still pervasive in the market that VA financing is "bad" or "difficult" yet from my experience VA appraisal and inspection guidelines are no more stringent than FHA or Conventional these days. Also, there are expenses that VA buyers cannot pay, so sellers have to absorb them - but it's all relative. If the property meets the guidelines a seller should welcome the business. Agents and sellers of regular properties who don't like VA buyers simply don't understand VA loans, or they don't know the contracts well enough to know how to negotiate them, or they just don't want to bother. But with education, persistence and strategy it can be done. Keep the faith and Good luck with your customer.... more
It depends on the reason it was rejected in the first place. If it was because of certain reasons, going to another lender may be an option. Other reasons may give you no choice but to wait. Call me to discuss.
A reverse mortgage is a loan available to home owners or home buyers over 62 years old, enabling them to access a portion of the subject home's equity. The home owners can draw the mortgage principal in a lump sum, by receiving monthly payments over a specified term or over their (joint) lifetimes, as a revolving line of credit, or some combination thereof.
Its a great opportunity for seniors to enjoy life, buy a vacation property, travel and do everything they might have in mind that they were not able to do before.... more
Reasons might be different, to mention a few...
1.Property owner knows for sure he will be selling the property in a very near future, so doesn't need the headache of tons of paperwork and refinancing process as he will be out of the house in several months anyway.
2. Property owner is an elderly person and can't manage the process
3. Property owner has a little or no knowledge about the process and doesn't want to or is scared to take action
4. Property owner heard stories from friends and neighbors (stories which are not necessary true) and based on them makes wrong assumptions and doesn't take action
5. Property owner is in financial distress and cant afford closing costs on the new loan
Hello, being from Miami myself, there are many agencies that will help those in need. Here is a link for the energy assistance...
If you get any type of government help, you could also ask your case worker to direct you to other agencies who may help with other bills..
Best of Luck;
CEO & SR Credit Repair Specialist at
Everlasting Credit Repair