Financing in 40211 : Questions & Answers

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Carl Henker, Real Estate Pro in 95928
Carl Henker answered:
If I purchase a home with an appraised value that is 20% or greater than the purchase price i.e. a foreclosure, will I need pmi?
PMI is based on the purchase price of $400,000. If it is worth more you made a good buy. If your are using conventional financing you may be able to remove PMI in a couple of years wit ... more
0 votes Share Flag Thu May 9, 2013 Financing in 40222
Joel Lobb, Real Estate Pro in Louisville, KY
Joel Lobb answered:
Jumbo loan options with under 20% down payment available in Louisville Ky?
There is no lender that I know locally that will do a jumbo loan with less than 20 % down. Secondly, if you do a short sale on the home in Florida, most lenders will consider that a for ... more
0 votes Share Flag Thu Oct 31, 2013 Financing in Louisville
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Are there ways to avoid PMI even if you can only put 7-10% down?
Devon unless you put down 20% you can not avoid PMI on a new mortgage. Once you get the mortgage and your equity builds so that your equiy builds toover 20%, you can ask your lender to ... more
0 votes Share Flag Wed Jan 29, 2014 Financing in 40222
Ben Cox, Real Estate Pro in 40047
Ben Cox answered:
I am recently widowed and unable to afford the payments on my home. Where can I get good advice on what to do in my situation? Can anyone help me?
Feel free to visit my website (www.BenCoxHomes.com) and click on the FACING FORECLOSURE tab at the top.
0 votes Share Flag Tue May 7, 2013 Financing in Louisville
Russell Gerry, Real Estate Pro in Louisville, KY
Russell Gerry answered:
Where is the best place to apply for a "No Closing Cost" home refinance loan in KY?
You can apply at with any mortgage lender to try to get a no closing cost refinance. Brokers will not be able to offer you this option anymore.

The big item that will decide if yo ... more
0 votes Share Flag Fri Aug 24, 2012 Financing in Louisville
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
Is it possible anymore to get a no-financial-background check mortgage with a high downpayment (my 3rd home, I am retiring, low cost condo)?
Not from traditional lenders, hard money lenders or private investors perhaps. Never has been a no credit check mortgage in Louisville from institutions to my knowledge. Even No-Doc l ... more
0 votes Share Flag Sat May 21, 2011 Financing in Louisville
Allan Erps, Real Estate Pro in Nanuet, NY
Allan Erps answered:
Refinancing or not?
Not sure why you care to have a driveby appraisal. That decision would be made by the Lender. With your 780 Score and if there is proper equity in your home I do not see any reason to b ... more
0 votes Share Flag Thu Oct 10, 2013 Financing in Louisville
Dan Chase, Home Buyer in Texas City, TX
Dan Chase answered:
This is might sound silly, but we are on a SSI income, we pay 550 in rent, I am tired of renting I want to own a home, is this possible, me and my
Can you get a mortgage based on SSI? If it is expected to last for a very long time yes. If temporary no.

Can you buy a house with bad credit? 620 or higher yes, less than that you n ... more
0 votes Share Flag Tue Aug 6, 2013 Financing in Louisville
Jami Dennis, Real Estate Pro in Silver Spring, MD
Jami Dennis answered:
i have a credit score of 580 is there anyone of getting a mortgage
Talk to a reputable lender. They will be able to offer guidance on ways to bump that up a tad. Best of luck in your new home purchase!
0 votes Share Flag Tue Apr 10, 2012 Financing in Louisville
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
DOES THE PMI PAYMENT LAST FOR THE TERM OF THE LOAN?
It can unless you reach 80% loan to value then YOU must request the pmi be dropped. You can reach this level be making payments so that the amount you owe is 80% of what the value is or ... more
0 votes Share Flag Wed Mar 24, 2010 Financing in Louisville
Hannah, Real Estate Pro in Corte Madera, CA
Hannah answered:
My FICO scores are 670, 600 & 575. Can I get a mortgage loan?
Hi Family,

With less-than-perfect credit you can often obtain a mortgage. However, mortgage products do not even get exciting until your score is 749 or better. Having less-than-pe ... more
0 votes Share Flag Sun Dec 15, 2013 Financing in Louisville
Joe Hayden R…, Real Estate Pro in Louisville, KY
Joe Hayden Real Estate Team answered:
Under what conditions can the 8,000 stimulus be used as down payment on the purchase
You can go here to read the various scenarios...

Let me know if you have any questions!

http://www.joehaydenrealtor.com/home-buyers/first-time-home-buyer-tax-credit/
0 votes Share Flag Thu May 9, 2013 Financing in Louisville
Cindy Kelly, Real Estate Pro in Louisville, KY
Cindy Kelly answered:
Has anyone had dealing with a lender called Surepoint Lender? Were they reliable?
No, I have not had any clients use them to close their loans.
0 votes Share Flag Tue Jul 6, 2010 Financing in Louisville
Andi Hillis, Real Estate Pro in phx.Az
Andi Hillis answered:
i have awful credit but want to buy a home. I 've been living in a rental house for the last 6 years and have
I am a realtor in Phoenix, Az and I suggest that you contact a lender in your area and ask him or her to explain the different programs to you. It sounds like you have some positive tra ... more
0 votes Share Flag Wed Oct 17, 2012 Financing in South Louisville
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