Financing in 46260 : Questions & Answers

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Iyad Allis, Real Estate Pro in Denver, CO
Iyad Allis answered:
As as second-time home-buyer, will I be able to qualify for a mortgage with my current low income (which is soon to increase due to changing jobs)?
Hello. In addition to a good credit score, some other factors which lenders will take into consideration is LTV (Loan To Value) and DTI (Debt To Income). With a low income, currently, ... more
0 votes Share Flag Wed Mar 27, 2013 Financing in Indianapolis
Sathya Kattr…, Real Estate Pro in Indianapolis, IN
Sathya Kattragadda answered:
Can a foreign student obtain a conventional mortgage with F1 visa?
Hello, how are you doing? I had a client in your same position recently and unfortunately, we were not able to get them financed. Unless you are a permanent resident, I don't believe ... more
0 votes Share Flag Sun Jul 7, 2013 Financing in 46202
Chance Schub…, Real Estate Pro in Bentonville, AR
Chance Schubert answered:
I am still not cleared to closed and my appraisal expired today and no one can tell me why. Can I get any recourse for whats lost?
They have to keep you informed as to why it is needing extended...
Is it the lender??? If it is the lender, I would highly recommend you move to a new lender after 6 months of waiting. ... more
0 votes Share Flag Fri Jan 11, 2013 Financing in Indianapolis
Peter Knight, Real Estate Pro in Fishers, IN
Peter Knight answered:
Is it true that FHA will not guarantee loans on condos where more than 10% of the condos are owned by one owner.?
Janet,

I am not aware of that requirement, but keep in mind that the condo complex must be certified by HUD.

Peter Knight
0 votes Share Flag Wed Mar 27, 2013 Financing in Indianapolis
Tom McCollis…, Real Estate Pro in 46038
Tom McCollister answered:
Where can I find a nontraditional lender I need $20,000.00 to $30 ,000.00 I have a business that clears $150.000 after expenses credit score 600
I have some contacts that may be able to help. Is your main goal to get a loan to consolidate some of the debt or working towards getting a loan approval for a home purchase? Send me ... more
0 votes Share Flag Tue Jul 16, 2013 Financing in Indianapolis
Bart Gabe, Real Estate Pro in California
Bart Gabe answered:
I tried finding the nearest lender/mortgage broker in 46241 but they couldn't find any results?
I lend in Indianapolis if you want to contact me at 800 315 8803.
0 votes Share Flag Fri Nov 9, 2012 Financing in 46241
Brett Martin, Real Estate Pro in Indianapolis, IN
Brett Martin answered:
Looking for a mortgage lender or broker for help...
Here are a couple of locals:


Local: Union Savings Bank, Raymond Hardie

Call: (317) 658-3505 or 843-1006
Ask: rhardie@usavingsbank.com
Apply: http://www.usavingsbank.com/ ... more
0 votes Share Flag Tue Aug 28, 2012 Financing in Indianapolis
Adam Catron, Real Estate Pro in 46220
Adam Catron answered:
Morgage loan without US-credit history ?
If you have good job security, some bank statements and good credit you should be able to get financed. Contact Tony Hart at Tucker Mortgage 317-849-5050.
And for finding the right ho ... more
0 votes Share Flag Mon Aug 6, 2012 Financing in Indianapolis
Michael Weav…, Real Estate Pro in Fortville, IN
Michael Weaver answered:
Problems with a mortgage broker
I would call Chris Minor for some mortgage advice. He is with Great Western. His number is:317.563.1122.
0 votes Share Flag Thu May 31, 2012 Financing in Indianapolis
Michael Weav…, Real Estate Pro in Fortville, IN
Michael Weaver answered:
How much in reserves required for FHA 203k loan on owner-occupied duplex?
I would ask your Realtor who is working on helping you purchase the duplex. They should be your first go to. Best of luck.
0 votes Share Flag Tue May 15, 2012 Financing in Indianapolis
Robint, Home Buyer in Indianapolis, IN
Robint asked:
My score is 605 right now. I have $2000 worth of medical collections right now, and one good trade line. I just opened a secured credit card with Capital One and one with First Premier Bank with low credit lines. How long will it take for me to get approved for a mortgage.
0 votes Share Flag Tue May 15, 2012 Financing in 46229
Michael Weav…, Real Estate Pro in Fortville, IN
Michael Weaver answered:
If one partner of a married couple, mortgages a home, does the other partner have ownership if there is a divorce?
Mortgages are liens not forms of ownership.
0 votes Share Flag Thu May 10, 2012 Financing in Indianapolis
Shannon M Th…, Real Estate Pro in 46123
Shannon M Thomas answered:
I have one derogatory bill I owe on my credit report, I was told I had to resolve it to prequalify for FHA loan and then be clear for 1yr-true/false?
It would have to be resolved but I would do it under the direction of your lender and get exactly what they need to be able to do a loan. I have seen loans done as soon as items were p ... more
0 votes Share Flag Mon Feb 27, 2012 Financing in Indianapolis
David Mennen, Real Estate Pro in Indiana
David Mennen answered:
Can you refinance FHA loan with a VA loan?
Hi Ellyn - Yes you can. I am a mortgage broker and work with serveral VA lenders... Most of the loans that we do are government loans... Please call/txt me at 765-714-8894. Thanks, Dav ... more
0 votes Share Flag Wed Jul 17, 2013 Financing in Indianapolis
Michael Weav…, Real Estate Pro in Fortville, IN
Michael Weaver answered:
I'm looking to buy a home - the two lenders I've spoken with quoted about $2000 in closing costs. Are there lenders with lower closing?
You can give Chris Minor a call. He's with Stonegate in Fishers (317) 563-1122.
0 votes Share Flag Wed Nov 16, 2011 Financing in Indianapolis
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Where can I find a stated or no income cash out mortgage?
Without any income verification, probably looking at fairly high rates from a private or hard money lender. I'd start with local real estate investing groups. ex. http://www.cirei ... more
0 votes Share Flag Tue Jul 12, 2011 Financing in 46201
Carl Henker, Real Estate Pro in 95928
Carl Henker answered:
Are there any local lenders that will refinance investment property at >80% LTV?
The max LTV on an investment property is 80 % due to the fact that MI (Mortgage Insurance) is unavailable for investment properties. Currently you will find most lenders limit the loa ... more
0 votes Share Flag Tue Apr 5, 2011 Financing in Indianapolis
Otis Clay, Real Estate Pro in California
Otis Clay answered:
602 credit score FHA loan need advice!
Hi Jenn,
Currently guidelines for FHA require a 640 credit score. There may still be a few lenders claiming to do 620 scores but I'm not confident in them. My recommendation is ... more
0 votes Share Flag Tue Mar 1, 2011 Financing in Indianapolis
Kimberly R.…, Real Estate Pro in Indianapolis, IN
Kimberly R. Walsh answered:
as a first time home buyer can i use the $6500 credit as a down payment. i am looking to buy some time nex year.
Tammi, the first time home buyer tax credit expired in April of this year. In order to get the credit you had to purchase a home prior to April 30 and close on the home no later than J ... more
0 votes Share Flag Tue Dec 21, 2010 Financing in Indianapolis
David Cassidy, Real Estate Pro in Indianapolis, IN
David Cassidy answered:
Are there any banks that require less than 2 years of proof of rental income?
Call me David at 317-538-7790, I can get you connected with a very good mortgage professional and possibly get you into a new home.
0 votes Share Flag Sat Oct 23, 2010 Financing in Indianapolis
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