Financing in 07302 : Questions & Answers

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De Vonte Wil…, Real Estate Pro in Setauket, NY
De Vonte Williamson answered:
Does anyone know or have worked with anyone who has had a 203k FHA loan lender near the Detroit Area? If so can you please let me know. Thanks!
Hello. You should consider getting in contact with a local Mortgage Broker/Loan Officer who could assist you. They will listen to your needs, and explain your financing options.

I ho ... more
0 votes Share Flag Sat Nov 17, 2012 Financing in 07306
Amos Elroy, Real Estate Pro in Hoboken, NJ
Amos Elroy answered:
ARM or Fixed Rate?
Not a mortgage guy, but this is something that landed so many people in trouble.

Personal thought, bad idea!

Sincerely,

Amos Elroy
CDPE (Certified Distressed Property Expert), ... more
0 votes Share Flag Fri Sep 21, 2012 Financing in 07302
Fred Glick, Real Estate Pro in Santa Monica, CA
Fred Glick answered:
how much does homes in jersey city nj?
All over the map depending on what you are looking for.
0 votes Share Flag Wed Jul 18, 2012 Financing in Jersey City
Price0909, Home Owner in Larchmont, NY
Price0909 answered:
Looking for mortgage companies participating in harp which can refinance coop loan with pmi
were you ever able to find this out? I am trying to see if the HARP covered Co-cops?
I have Wells Fargo and they are trying to figure out Why it comes up that we dont qualify .. She m ... more
0 votes Share Flag Mon Sep 17, 2012 Financing in Downtown - Van Vorst Park
Chad Barris, Real Estate Pro in New Jersey
Chad Barris answered:
I qualify for Live Where You Work (5% assistance) in JC but I've been told FHA with 3.5% is better. Any idea why?
I do a ton of business in your area... to be honest, I need to see the whole picture to tell you what would work best for you. What type of rates did these people give you for an FHA? ... more
0 votes Share Flag Tue Sep 20, 2011 Financing in Jersey City
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
in new jersey what programs are available for 1st time home buyer w/o money down
Jersey City:
http://www.cityofjerseycity.com/hedc.aspx?id=5332 - Golden Neighborhoods Homeownership Program

Essex County:
http://www.hapec.org/buying.html

Various programs in N ... more
0 votes Share Flag Mon Jun 13, 2011 Financing in Jersey City
Jeff Belonger, Real Estate Pro in Cherry Hill, NJ
Jeff Belonger answered:
GFE: GOOD or BAD? Loan 309,375.00 rev mortgage 5.% Origination charge $6100.00 required services $10,399.35 Title services $3,045.00 Jen
Jen,

Bad.... it means that they are charging close to 2 pts. In regards to the required services... I am not sure what those costs are for. I would need to see your whole itemized fe ... more
0 votes Share Flag Mon Jun 3, 2013 Financing in 07306
Andres Garcia, Real Estate Pro in Hoboken, NJ
Andres Garcia answered:
Are property taxes deductible? Do I have to wait until tax time?
Lpaige

This is a question for your account but in general Property Taxes are deductible. If you are subject to the Alternative Minimum Tax, or have an exceptionally high income, you ... more
0 votes Share Flag Wed Jun 16, 2010 Financing in 07302
Dp2, Other/Just Looking in Virginia
Dp2 answered:
Hi! I'm looking for mortgage providers who will be willing to finance for the following buyer profile:
Whether or not a conventional lender will do this, you might also consider seller financing.
0 votes Share Flag Fri Jun 11, 2010 Financing in Jersey City
Mike B, Real Estate Pro in Raritan, NJ
Mike B answered:
Are there any mortgage brokers doing 203K loans? How about 203K streamlined loans?
Leticia,

Yes there are. I would suggest contacting Ken Lazowski at First Interstate Financial at 800-999-2489 x7976 or klazowski@fifcorp.com . He is my old boss and is great work 2 ... more
0 votes Share Flag Wed Apr 28, 2010 Financing in 07306
David Pry, Real Estate Pro in West Milford, NJ
David Pry answered:
7 year ARM vs 30 year fixed
Currently fixed rate mortgages are at their lowest levels since the early 70s. You have to read the fine print on adjustable rates as sometimes that low rate is "introductory" ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in 07302
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
If I buy an "as is" property with cash, how soon after can I refinance or apply for a home equity loan?
Check with a good mortgage broker.

Many investors I know will use hard money to buy a property, then refinance it. That can be done pretty quickly.

Also, look into a 203(k) loan. ... more
0 votes Share Flag Mon Sep 28, 2009 Financing in Jersey City
Chris Richter, Real Estate Pro in Chicago, IL
Chris Richter answered:
How do I compare shop for mortgage before I pay an application fee? I know my very recent credit scores. How realistic are the rate quotes and GFE?
There are a few questions in your note, I'll try and hit them in order:

Comparing Rates: It's actually easier these days. No lender should be accepting your application ... more
0 votes Share Flag Mon Sep 28, 2009 Financing in Jersey City
Eileen Lobel, Real Estate Pro in Vineland, NJ
Eileen Lobel answered:
When lenders say they want the median credit score, which credit score do they mean?
Hi i am a realtor in NJ and have helped buyers. If you'd like to give me a call at cell #856-776-3264, I'd be more then happy to help you & answer any question you may have. I work cl ... more
0 votes Share Flag Thu Jul 30, 2009 Financing in Jersey City
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
when buying a new home, is it better to go with the lender with whom I already have a mortgage loan on an?
GREAT QUESTION:

I would determine who would provide you better deal. Most lenders don't provide a reduction preference if you have more than one loan. Keep in mind lenders will sh ... more
0 votes Share Flag Thu Jul 30, 2009 Financing in Jersey City
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
As a Head of HouseHold, can we each buy our houses as primary house ?
Buyer,

This is a matter to take up with your CPA that would have access to complete details of your situation and best advise you relative to the law.
0 votes Share Flag Mon Jul 20, 2009 Financing in 07306
Jeff Belonger, Real Estate Pro in Cherry Hill, NJ
Jeff Belonger answered:
I have Question to apply for mortgages separately.
Buyer,

There are a few ways to look at this. But it all comes down to how you want to buy each home. Meaning, you both can't be married, living with each other, and buy to separate ... more
0 votes Share Flag Mon Jul 20, 2009 Financing in 07306
Dana Schuster, Real Estate Pro in 70461
Dana Schuster answered:
WHAT IS THE MINIMUM FICO SCORE NEEDED TO QUALIFY FOR A MORGAGE THESE DAYS?
The minimum score required in this market is 620 for an FHA with 3.5% down and 720 for everything else/
0 votes Share Flag Sun May 31, 2009 Financing in Jersey City
Andres Garcia, Real Estate Pro in Hoboken, NJ
Andres Garcia answered:
if I have money in the bank for a downpayment, should I hold on to it or used a portion to pay down my mortg?
It depends what you are looking to accomplish but in general I say use the most money you can for your down-payment. Taking out a smaller loan will give you the lowest monthly payment ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in 07306
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