Give me a call and i will give you a minimum of 3 different mortgage including all cost and fees and yes when i pull all my buyers credit i do a thorough analysis to determine if by making some minor changes to their credit account would it improve their rates.
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Get the facts about home mortgages from the experts at ENG Lending. Learn about different types of home mortgage loans and what to expect during the mortgage application process
16800 N. Dallas Pkwy, Suite 290 | Dallas, TX 75248
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Bank of England /dba ENG Lending: NMLS# 418481... more
I agree with Paul's answer that you would have to own the home outright probably before that would be possible and the lease with the option to purchase would probably be the best bet for now for you both. Definitely consult your attorney on these types of documents.... more
It may be challenging with a 620 credit score. It would suggest a local lender or credit union. These lenders have in-house programs that offer some flexibility. It is also a good idea to see if any Iowa Finance Authority (IFA) programs could be helpful to you. If you are looking to purchase in any of the smaller towns outside of the QCA the USDA Rural Development could be an option.
Another option is to contact Residential Mortgage Network in Coralville. Give Jessica a call at 319-354-7501 to see what suggestions she may have for you.
Best of luck!... more
Before the home was listed with a Realtor a broker price opinion was done that arrived at the price. Ideally that is what the bank would like to get. Lucky is correct some homes will go for more than the list price while others will go for less. The fewer days on market for the home the closer to list price it will sell for and the longer days on market the less they will receive. That is the norm but there are always the exceptions. A Realtor will be able to help you assess the home and aid you in making an offer that will hopefully acquire the property at a price you will be happy with. Good luck.... more
I think it best that you have a meeting with a mortgage consultant that does credit repair and is willing to help you through the process. Some things drop off your credit after so many years and others need to be addressed and contacted and maybe set up minimum payments or letters written of explanation. Another alternative is rent to own where investors buy homes and rent them to you until you can get your credit repaired and you get some credit to your principal when you do finance. Other investors buy homes and sell them on contract. If you would like to contact me and let me know when you are available, I can have a consultant who does credit repair meet with you. I also have a list of investors who sell on contract or rent to own. Just need to find out your monthly budget for housing and your initial investment.... more
The RIA has had hundreds of people who have transferred out of our area with previous BRAC relocations, etc. The supply of homes in the $150,000 and up are still good. The supply of homes in the $150,000 and below has dwindled immensely because of the First Time Home Buyer Tax Credit program.
If you are looking to head to the Quad Cities, you should find a REALTOR(R) that you trust to guide you through the process and find a property that fits your needs. How about me? :)... more
The best way is to have a relationship with a Realtor. They can tell you when a foreclosure comes on the market as soon as it hits. Look for a Realtor that has experience in working with hud homes and investors. It takes time to find the right home and you have to have your financing in order so you can make an offer as soon as the home hits the market. If you're not going to pay cash for the property most foreclosures won't be for you. If you have any other questions you can contact me and I would be glad to meet with you and give you a more complete picture of the Quad Cities market in foreclosures.... more
Depending on the age of your bankruptcy you may be able to qualify. There are several factors including current credit, income, employment, debt, down payment, etc. You need to contact a local mortgage broker to ask them about your specific situation.... more
I just checked MLS for houses that are actively for rent in Davenport with a minimum of 5 bedrooms and found 20 houses. The monthly rent prices for 16 of the houses range from $1,300 to $1,800. Of course, the location, condition, and amenities (community pool versus backyard pool) will all come into play.
Re: Are there many rentors?
Are you looking for short term rentors or long term (year lease)? You could contact a Property Management company. Be careful because they are selling you a service. They will say they will keep it rented, but ask for statistics or specifics.... more
Not sure if you are still looking or have now secured a home. Aviana is a lovely resort. I have recently viewed properties there on three occassions. Actually, with one I failed to go upstairs because the smell was so bad, it was very dirty and neglected!! My only concern is there are a number of areas unfinished. The builders have stopped because of the current economy. However, there are a few bargains and I have one listing on my site (I only list properties I have viewed - nice pool position - good location etc. I owned a short term rental home in the area for 4 years and I think if you are looking at the this with the right marketing you will be achieve bookings. Just be careful where you buy, may not be best to have empty plot snext door as sooner or later when things pick up you could be in the middle of a building site which is not the best thing for vacationers! It is always good to buy the right property that will be welI received and result in repeat bookings and recommendations. I am not a realtor, I specialise in sourcing properties for overseas and out of state clients and would be happy to chat further with you if you are still looking.
Helen - Property Locator Disney Area... more
First, have your financing in order. I suggest taking it a step further than pre-approval. Get the necessary documents to your lender of choice so they can verify all of the info that you give them. There's a big difference between being pre-approved and having lender commitment...go for the latter.
Hard time picking a lender? Look at 3-4 and I suggest dealing with people in the community you will be living. It's easier to find them if you have an issue to deal with. Apply to all at the same time, then your credit report will only show 1 inquiry, instead of multiple inquiries (within 14 days).
Next, start looking now. If you go the short-sale or forclosure route, the process towards closing can get drawn out longer than a normal.
If you haven't found anything by March, you might consider discussing a month to month extension on your lease with the landlord. Always good to have your bases covered and know what your options will be.... more
Go with the house. Even in a good market, I see condo's appreciate at a slower pace. I agree with Colin below in regard to financing. For example, to mitigate their risk, some lenders have underwriting policies that restrict lending to developments that are 100% completed and have 90% occupancy...and even then they may have LTV (loan to value) restrictions as well. Many of those specialty "condo/townhome" lenders are all gone these days. There are a few that will do it, but buyers will pay a higher rate...again, just making it a little bit tougher to sell.... more
Here's a link for the state of Florida for their first time buyer program. I would also check the county websites for the locations you mention to see if there is any information available on their websites. If you can find a lender list at this Florida link, the lender may be knowledgeable if there are any county programs available.... more
Wow, that's an enormous question (assuming that's Davenport, Florida you're asking about) - just because the answer depends on many aspects, not the least of which is your objectives and plans. Please check out our website, as we specialize in working with clients to answer questions like yours taking everything into account, and contact us if you need more help.