Financing in 20018 : Questions & Answers

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Tyra General, Real Estate Pro in Upper Marlboro, MD
Tyra General answered:
How does one make an offer?
Hi. What are you looking to make an offer on? Feel free to contact me directly if you need assistance with any properties.

Wishing you the best,

Tyra
0 votes Share Flag Tue Apr 2, 2013 Financing in Washington
Elliott R. O…, Real Estate Pro in Falls Church, VA
Elliott R. Oliva answered:
What qualifies as a source of income for an FHA loan?
If it can be taxed and documented for at least 2 years then that's a good start. What's your scenario?
0 votes Share Flag Thu Apr 4, 2013 Financing in Washington
Jason Skipwo…, Real Estate Pro in Washington, DC
Jason Skipworth answered:
Are there any lenders still offering 80/15/5 (or 80/10/10 if 80/15/5 is not doable anymore) loans? If so what are ballpark int rates?
Hi,

I could refer you to some local lenders who have some creative loans, but not sure they offer those exact scenarios, but it can't hurt to reach out to them.
Email me at Jason@ ... more
0 votes Share Flag Fri May 23, 2014 Financing in Washington
Elliott R. O…, Real Estate Pro in Falls Church, VA
Elliott R. Oliva answered:
Where would be a good place to connect with people looking for hard money loans in the area?
Are you in the DC metro area or based elsewhere?
0 votes Share Flag Thu Oct 10, 2013 Financing in Washington
Juliet Zucker, Real Estate Pro in Washington, DC
Juliet Zucker answered:
Recommendations for refinancing?
Give Jon Okun a call. He is a loan officer with Prosperity Mortgage, a joint venture of Long & Foster Real Estate and Wells Fargo -- I understand you had a deplorable experience with WF ... more
0 votes Share Flag Tue Jun 19, 2012 Financing in 20016
Bill Panici,…, Real Estate Pro in Washington, DC
Bill Panici, GRI, CRS answered:
I have a property located in columbia heights but the property is need of some repairs but I lack the money to make the repairs (approximately 15k)
Is it your hope to sell the property after the repairs are made? If so, I may have a solution fo you.
Contact me at billpanici@aol.com, or (202)277-4675. Thanks.
0 votes Share Flag Sun Dec 29, 2013 Financing in 20010
Natalie Dean, Real Estate Pro in 20007
Natalie Dean answered:
looking for a solid FHA 203k lender with good experience.
I have a fantastic lender who would be perfect for this project! I would be more than happy to pass it along to you--please inbox me and I will shoot you over his full information. Plea ... more
0 votes Share Flag Sun Dec 29, 2013 Financing in 20010
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
I rent out my first home in WI to tenants. Want to buy a second home in DC where I live now. Have good credit & income. How can I qualify?
Most of the Lenders want to see a track-record as a landlord. they want you have been a landlord for a year or more;
that is the only problem I can see.

Good luck and may God bless
0 votes Share Flag Sat Apr 19, 2014 Financing in Washington
autoprt, Other/Just Looking in Atlanta, GA
autoprt answered:
In regards to physician loans has anyone heard of smallbusinessloansdepot.com ?
Regarding Physician Loans, our company also handles various types of loans and we've worked with smallbusinessloansdepot.com
Ed Rogers is reputable and there are no complaints aga ... more
0 votes Share Flag Sun Feb 10, 2013 Financing in Washington
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Are 80-10-10 loans available in DC? My wife and I have excellent credit, and bought our home FHA at 4.75% < 1 yr ago
Yes there are 80/10/10 combo loans available in DC & VA, I don't do them but a cohort of mine does.
0 votes Share Flag Wed Feb 29, 2012 Financing in 20016
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
Does anyone have experience w/HUD's Section 203(n) mortgage insurance program for purchasing a co-op?
FHA which does HUD mortgages does not do coops.
0 votes Share Flag Mon Mar 19, 2012 Financing in 20024
Damon The Ag…, Real Estate Pro in Washington, DC
Damon The Agent answered:
Where can a non-US resident with excellent credit and a large deposit (20%-30%) get a US loan? Total purchase around $900,000 - need say $650,000.
Sorry but you can't, the US loans are Government secured and the Government is not going to lend to a non-US Citizen. You can get financing in your country & convert that mone ... more
0 votes Share Flag Tue Nov 12, 2013 Financing in 20220
Nick Pakulla, Real Estate Pro in Rockville, MD
Nick Pakulla answered:
Should I refi now and start paying PMI again or wait until my home value gets back up above 20%?
Clint- you should refinance right now, and specifically this weekend.

You don't have to pay PMI if you have less than 20% equity, the better option is lender paid mortgage ins ... more
0 votes Share Flag Mon Aug 8, 2011 Financing in 20024
Brent Mendel…, Real Estate Pro in Bethesda, MD
Brent Mendelson answered:
I need a commercial lender in DC, fast!
Joel Willard-Beech Street Capital.
240-507-1908-Office
Don't know if he can help but he won't be slow. Commercial is SO diffferent from what I do but I think he coould help ... more
0 votes Share Flag Thu Mar 17, 2011 Financing in 20009
Jim McCowan…, Real Estate Pro in Arlington, VA
Jim McCowan (703) 395-0166 answered:
Can I refi from a FHA to a conventional on a affordable dwelling that has resale limitations using the appraised value? Appraised $380k, my loan $288k
I'd give Harsh Patel, with Prosperity Mortgage, a call (703-975-6281). He can explain your options!
0 votes Share Flag Tue Dec 14, 2010 Financing in Washington
Jim McCowan…, Real Estate Pro in Arlington, VA
Jim McCowan (703) 395-0166 answered:
My refinance was not approved because of the PUD not being approved in dc
If it wasn't approved for the refinace, how was it approved for the original financing? Did you go back to the same lender?
0 votes Share Flag Wed Oct 27, 2010 Financing in 20019
Brent Mendel…, Real Estate Pro in Bethesda, MD
Brent Mendelson answered:
Can I get a 203k loan on my existing DC home? I've had the home for 2.5 years.
Kizito,

We lend in DC and have the FHA 203K program. Other ones as well. I suggest contacting me to discuss further in detail. This isn't a yes or no question, I need some more ... more
0 votes Share Flag Wed Aug 1, 2012 Financing in 20011
Lanre Folayan…, Real Estate Pro in District of Columbia
Lanre Folayan 202-378-0283 answered:
Are 80/15/5 loans available in DC?
Hey CPJ. Please call BJ Matson of Suntrust Bank. His work number is 301-881-8900. And his cell number is 301-257-1270. He would definitely be able to help you. Please tell him that I re ... more
0 votes Share Flag Sun Jun 20, 2010 Financing in Washington
Lori S. LaRue, Real Estate Pro in Washington, DC
Lori S. LaRue answered:
Can you get a FHA Streamline and use HPAP and EHAP? Or can you only use a traditional FHA when using HPAP funds?
If you are speaking of an FHA 203K loan (home improvement and repair loan) then no you cannot use an FHA Streamlined loan. HPAP will require that the property pass inspection prior to ... more
0 votes Share Flag Thu Jun 3, 2010 Financing in Washington
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