Financing in West Virginia : Questions & Answers

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Drema Davis, Real Estate Pro in West Virginia
Drema Davis answered:
If youre pre approve for 150000, but purchase a home for 100000, can you use the rest of your home loan for remodeling?
The home must appraise for the amount borrowed, a rehab loan allows you to borrow over and above the contract amount. Your lender will adviser you what % over the contract price you wi ... more
0 votes Share Flag Sun Aug 25, 2013 Financing in Charleston
Monica Gorre…, Real Estate Pro in Bridgeport, WV
Monica Gorrell answered:
I live in West Virginia and am interested in a $290,000 townhouse. I can put $120,000 down. My credit is fair. Prior years income was 100K, 100K and
I recently listed a beautiful townhouse in Bridgeport for $339,000. If you are interested please contact me via email at

Thank you
0 votes Share Flag Mon Aug 19, 2013 Financing in Bridgeport
Jeremy Whitt…, Real Estate Pro in Falling Waters, WV
Jeremy Whittington answered:
Malkah55, I am very interested in downsizing. Due to family illnesses, we are on SSDI. We have a home and want to downsize.
Your situation is not uncommon, there are ways around credit issues when shopping for a home. First is to talk to area lenders and see what you would prequalify for if you were to buy ... more
0 votes Share Flag Wed Aug 7, 2013 Financing in Hedgesville
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
I am having a rescore done, LO asked me to pay my balance down on a credit card to an exact amount, said it should go up 27 accurate is it?
The loan officer is most likely using a credit simulator to estimate the effect of the payment. There is no guarantee that your score will go up 27 points and they should tell you this. ... more
0 votes Share Flag Tue Jul 23, 2013 Financing in 24740
Dreama Fisher, Home Buyer in Sissonville, WV
Dreama Fisher answered:
any homes rent to own or owner finance?
i need a 4 bed room home rent to own we have no money down we can pay 500.00 a month thats all
0 votes Share Flag Sun Nov 4, 2012 Financing in Charleston
Liz McDonald, Real Estate Pro in Charles Town, WV
Liz McDonald answered:
On a short sale transaction, can you order the appraisal prior to the contratc being fully ratified by the
Hi Jaime,
If you are the buyer, you can have an appraisal contingency in the contract that allows the buyer to get out if it comes in below contract price. In general, if you are buyi ... more
0 votes Share Flag Mon Jul 30, 2012 Financing in Charles Town
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
What options does a nonoccupant co borrower have on a discharged mortgage loan?
you have the right to legal counsel, hire one ASAP.

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes Share Flag Wed Jul 25, 2012 Financing in 25611
Irina Karan, Real Estate Pro in 33160
Irina Karan answered:
can you use part of your home loan to pay other bills?
Hello Bryan,

No. However, later on, when you built equity in your house, you might take out a Home Equity Loan
and use it as needed. It has to make sense financially - because norm ... more
0 votes Share Flag Thu Apr 26, 2012 Financing in Charleston
James P. Ryan…, Real Estate Pro in Washington, DC
James P. Ryan, Jr answered:
I am trying to get either a home equity loan or refinance loan. I worked my entire life up until September 2011. I worked in the health care field..
Good morning Lee, credit scores for mortgages come mainly from the 3 bureaus, and each one uses a bit different method to obtain their respective scores for you. As a result, most lende ... more
0 votes Share Flag Mon Apr 23, 2012 Financing in Charleston
Louise Nicho…, Real Estate Pro in 25401
Louise Nicholas answered:
Have a bankruptcy, discharged almost 2 years, but have been working to re-establish our credit. Possible to get a loan?
No your not just dreaming Owning a home is very possible, usually you will have to wait 2 years and have a good credit score, no late payments and even better if you paid off a loan an ... more
0 votes Share Flag Wed Feb 1, 2012 Financing in Bunker Hill
Shawn Rosa, Real Estate Pro in Basking Ridge, NJ
Shawn Rosa answered:
Can you use a home loan as part of your down payment, or must you have a down payment up front?
no, you cannot use the loan itself as part of the downpayment. if you dont have a downpayment, however, there are certain programs where a third party can provide the downpayment for yo ... more
0 votes Share Flag Sat Dec 24, 2011 Financing in Charleston
Voices Member,  in
Voices Member answered:
Are there any owner financing homes or rent to own homes in St.Albans, WV or surrounding areas? Please help my mom needs a home asap!!! Thanks!!
While these situations are difficult to come by, they certainly are not impossible. Your mom could give me a call to discuss her situation and I will do everything I can to help her out ... more
0 votes Share Flag Wed Sep 21, 2011 Financing in Saint Albans
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
looking for seller or help with the closing cost. i have have of it but unable to come up with the rest. bank said i was qualified for a chip loan.
The West Virginia Housing Development Fund (WVHDF) offers a down payment & closing cost assistance program in the form of a 15-year 2nd mortgage up to $15,000.

http://www.wvhdf.c ... more
1 vote Share Flag Mon Jul 11, 2011 Financing in Terra Alta
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
I just sold another house, paid off alot of debts, credit score isnt so great, my wifes is better. I have a great job that pays well, can I qualify
Jason is correct. Lenders typically can incur this cost up front themselves and charge you upon closing. The fee will appear on your closing settlement/HUD starment as a third party ... more
0 votes Share Flag Wed Jun 1, 2011 Financing in 24740…, Real Estate Pro in Dallas, TX Dallas Realtor answered:
We cant get a loan for enough money to buy the home that we want!
Mortgage brokers are the professionals HOWEVER no one is going to lend money home currently above your budget.

SUGGESTION: If you are going to pay off your student loans with tax re ... more
0 votes Share Flag Thu Dec 30, 2010 Financing in Wheeling
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
My credit score is 628 what would be the rate
As Sameer has said, under what situation. Other conditions are down payment, term, purchase, refinance, loan to value...?
A 628 score will have a broader range of answers once ... more
0 votes Share Flag Sat Nov 20, 2010 Financing in Hinton
Andrew & Ele…, Real Estate Pro in Naples, FL
Andrew & Elena Ollick answered:
If 2 people (not married)r trying to qualify 4 loan do both have to qualify 4 the total amount or can it be 1/2 N 1/2 = 2 Total amount?
Roma, you would take both your incomes and both your debts and that will be used to qualify you for a certain loan amount.
The only thing that you both need to have in order to qualify ... more
0 votes Share Flag Tue Aug 31, 2010 Financing in Charles Town
Emily Erekuff, Real Estate Pro in Menifee, CA
Emily Erekuff answered:
i don't think i have good credit and i need to find a company that will finance a loan for a house
Hi Shawnda,

Your question was duplicated on our site. You can thus find an additional answer to your inquiry via the link below.

Best Wishes,

Emily Gibson
Community Moderator
0 votes Share Flag Wed Jul 14, 2010 Financing in Logan
Kim Jarrouj, Real Estate Pro in Charleston, WV
Kim Jarrouj answered:
My Husband and I are trying to buy our first home. We make a good living and will be well able to pay our mortgage. We have an approval from Va for
I would contact local community banks to see if they can complete the transaction. In Charleston, these would be Rock Branch Community Bank, Poca Valley Bank, Summit Community Bank. Che ... more
0 votes Share Flag Wed Jun 16, 2010 Financing in 26554
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