Financing in 14215 : Questions & Answers

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Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
how much money should you have on the side for a down payment and closing costs and all other fees to buy a house?
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore visit with any licensed loan officer. ... more
0 votes Share Flag Sat Apr 6, 2013 Financing in Buffalo
Kathleen Hag…, Real Estate Pro in Buffalo, NY
Kathleen Haggerty answered:
how much money should you have on the side for a down payment and closing costs and all other fees to buy a house?
This is dependent on your credit rating and whether you are purchasing a property for investment or to occupy. Generally, downpayment would be 5-10% and closing costs another 5-10%, of ... more
0 votes Share Flag Sun Apr 7, 2013 Financing in Buffalo
Craig Johnson, Home Buyer in Killeen, TX
Craig Johnson answered:
i want to buy a house in buffalo price around 45000.oo i dot have good credit meaning is bad please tel me any alternate way to buy a house
My name is Craig Johnson,

We have properties at that price point if you are interested. Are you looking for cash flow or are you looking to live there?

How many bedrooms? Bathro ... more
0 votes Share Flag Tue May 28, 2013 Financing in Buffalo
Craig Wheeler, Real Estate Pro in Buffalo, NY
Craig Wheeler answered:
I currently own my own home but am looking to find a larger home as RTO or Seller Finance in the W.S., Lancaster, Hamburg areas. How to I get started?
It would depend on whether or not your home would have to be sold on contingency. Meaning you would need to sell you home to finance the purchase of another. If you don't owe much ... more
0 votes Share Flag Sat Mar 30, 2013 Financing in 14224
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
Any lenders in Buffalo giving out mortgages to recently self employed people with 630 credit score? If not, any quick credit score fixes you can refer
Joe,
Self employment is tougher, but with 2 years in you have lasted longer than most start up businesses. If your self employment is in the same line of work you were in previously ... more
0 votes Share Flag Sat Mar 30, 2013 Financing in Buffalo
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
What's Best? Saving for a down payment or paying off debt?
In order to make an informed decision and determine what will work best for you, do consult with any licensed loan officer(s); he she can best advise as to what should be done, so that ... more
0 votes Share Flag Mon Nov 7, 2011 Financing in 14221
tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
FHA loan approval with 1099 income
Talk to some other loan officers with banks or lenders. I had a loan denied and moved the whole package over to Wells Fargo who closed it in 23 days. It can happen. Some lenders just ar ... more
0 votes Share Flag Thu Oct 20, 2011 Financing in Buffalo
Ryan Walley, Real Estate Pro in Amherst, NY
Ryan Walley answered:
Does anyone know where I can get a home equity loan or a HELOC on a rental unit? I am having trouble finding one.
The only trouble you should have is the 20-25% equity requirement, and that the rate will be significantly higher than one on your primary residence. Other than that, HSBC and Key Bank ... more
0 votes Share Flag Fri Sep 16, 2011 Financing in Buffalo
Gail Gladsto…, Real Estate Pro in 11743
Gail Gladstone answered:
I am Doing Lease Options and I am looking for a Mortgage Broker that will work with me to get financing for my tenant buyers..
For a mortgage broker, I use Dominick Sutera at Academy Mortgage Corp. You can reach Dominick at dsutera@bankamc.com, 516-249-4800 x 223 and his cell is 516-655-2900.
0 votes Share Flag Tue May 17, 2011 Financing in Buffalo
Joe Sorrenti…, Real Estate Pro in Buffalo, NY
Joe Sorrentino answered:
I am applying for a Refi. Bank lowered appraised valu that the appraiser had come up with (which means I get less cash out). Can they do this?
It's happening to a lot of people, not just you. Also, many people are having difficulty refinancing because the threshold for acceptable credit scores are higher for not only lend ... more
0 votes Share Flag Tue Apr 5, 2011 Financing in Buffalo
Joe Sorrenti…, Real Estate Pro in Buffalo, NY
Joe Sorrentino answered:
Is it possible to get a mortgage on a seasonal home with only 10% down? The cottage has heat but the water comes from the lake.
It you are talking about down at the lake, it is very unlikely. You should really check with a local bank ( M&T, First Niagara, HSBC) who is familiar with the area and will give you ... more
0 votes Share Flag Mon Dec 9, 2013 Financing in Buffalo
Jodi Sherret…, Real Estate Pro in Houston, TX
Jodi Sherretts answered:
Is it possible to get a mortgage in Buffalo NY with a 590 credit score?
It depends. There are other factors like how much debt you have and how much money you have to put down. If you have low debt and money to put down you should be okay. Most likely yo ... more
0 votes Share Flag Mon Jan 31, 2011 Financing in 14228
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
I graduated last year, took a new job this year, have no credit, want to buy a small but nice 15000 house i found, n have 5k savings. help me finance!
Auroracouture,
Congratulations on graduation, finding a good job and saving some money. Chances are you do have some credit, a cell phone, student loan, utility bill etc. If the hom ... more
0 votes Share Flag Fri Jan 21, 2011 Financing in Buffalo
Michelle & T…, Real Estate Pro in Amherst, NY
Michelle & Tom Stone answered:
I need Name and Number of a good investment Mortgage Brookers in Buffalo NY that also do home equity loans
Dear Tazakaej:

You could call Beth Paulsen from Flaherty Funding. Her number is 716-239-0754. Pls. let her know we referred you to her.

Do you also need help in searching for a ... more
0 votes Share Flag Tue Sep 14, 2010 Financing in Buffalo
Jerry Kussy, Real Estate Pro in Park Ridge, IL
Jerry Kussy answered:
0 downpayment?
If you are stating that you have a tenant, are you saying the property you want to purchase is an investment property? If so, in a lenders eyes, investment properties carry more risk th ... more
0 votes Share Flag Sun Apr 10, 2011 Financing in 14207
Carl Henker, Real Estate Pro in 95928
Carl Henker answered:
I currently rent in NYC and am buying my first home in the country, 2 hours away. My plan is to live in the country house from around May - Oct and
Sounds like it will would be your primary as you do not own in NY. Is your job in NYC and you will commute or do you work from home? Be prepared with an answer to these questions for ... more
0 votes Share Flag Fri Feb 19, 2010 Financing in Buffalo
Greg Cook 95…, Real Estate Pro in Temecula, CA
Greg Cook 951-265-4532 answered:
I am a w-2 employee who gets my salary, commissions and bonuses through payroll and get w-2'd at the end of the year. My car and phone
The lender's basic rule for determining income is "if you don't declare it, you can't use it". Write-offs are considered as deductions to income. You probably f ... more
0 votes Share Flag Mon Oct 19, 2009 Financing in Buffalo
Keane Ng, Real Estate Pro in Seattle, WA
Keane Ng answered:
hello, are there any lenders out there for people with credit scores of 579?Only looking for 70000 loan.thanks
For purchase? Refinance? What's the home value or purchase price?
0 votes Share Flag Mon Oct 19, 2009 Financing in Buffalo
Patrick Thies…, Real Estate Pro in Elmhurst, IL
Patrick Thies SFR, CNC answered:
I'm interested in a HUD property. Can someone explain the approximate differences in fees for a 203k and a 203k express loan?
Some differences between a 203K Streamline and a 203K Full Renovation are:

No HUD consultant -203K Full requires one.

Less fees vs a Full Renovation

No Reserves - Full 203k re ... more
0 votes Share Flag Sun Oct 4, 2009 Financing in Buffalo
Jerry Thomps…, Real Estate Pro in East Aurora, NY
Jerry Thompson II answered:
Went from being a 10-99 employee to unemployed to getting paid in cash. Will I be able to get a loan.?
yes you will have trouble, you may need to file this year and also prove a consistency of employement and income before you will get appoved, allthough one Thing I always say is never ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in Buffalo
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