I am still trying to get my loan officer Lisa on here, but give her a call 612-990-2271 or just contact me directly and we can talk more about advice!
Basically, I have yet to find a lender who will do FHA under 640. Besides that; people with low scores tend to not have the basic 3 credit requirements. THE GOOD NEWS is that it really does not take as long as you think to get up to 640. My LO Lisa is working with someone that has ZERO CREDIT and her company will finance them in 6 months (most lenders tell you a year).
She uses a software called rapid-rescore, which analyzes your credit report and will tell you exactly what to do to raise the scores. What I like the most is it also will tell you how many points you can expect to go up. Lisa has credit repair people for much worse situations.
It may not be what your ex wants to hear, but if they want to buy this needs to get done. The sooner you contact Lisa the faster we can get him qualified. I love working Zip 55119 so I think it will work out great!
Just tell Lisa Chris Block sent you:)
Realtor North/NE Suburbs
This means the formula the lender uses to see how much you have going out for debt and then how much you have coming in as income . They have a specific percentage that you have to have in order to be able to get a loan! Hope that helps!... more
Great question! There are many programs out there for first time home buyers. I would make sure to get preapproved with a lender who will take the time to work with you and talk about the different programs. Some lenders shy away from the programs out there because they are a lot more paperwork. If you want a recommedation, please feel free to contact me directly! Good luck in your search.... more
A couple of things to consider are whether or not you have GI BIll benefits intact (have you used them to purchase another house). If you do, you can use the GI BIll to do a no money down VA loan and purchase something from there. If you don't have your VA benefits available, you will need to work with a loan officer to determine if there are any programs out there to assist you with downpayment or ones that don't require a downpayment.
Let me know if you need help moving forward.
Coldwell Banker Burnet
licensed MN Real Estate Broker... more
Why would you expect to lose? Michael, do you have real estate agent? You need one...if you have one, discuss this with your agent. If you don't have one, get one. An agent represents you - acts in your behalf and best interests. An agent knows areas, knows what makes a house and an area a good combination and helps you use real estate - personal residence or investment - to build your net worth and establish and improve your personal assets. Think about it. An agent costs you nothing, saves you time, money, anguish. Use this great resource. If you are unsure about how to find an agent, write or call me. Liz 612-986-4105... more
In most new construction the builder owns the lot and sells you the lot with a new home. If you are buying the lot and hiring a builder, you would need a construction loan that would allow you to do such a thing. Ask your loan officer to explalin your options.... more
on the low end you will be around $160, but there are a couple associations where you will be over $200/month. I would add you may want to look in Shoreview for TH's. There is more inventory and it is Just East of where you are looking.
Those are my areas (I live in Vadnais Heights) so if you have any further questions feel free to contact me directly on Trulia by just clicking my profile Icon.
Well I will tell ya what I do know of a builder that has been doing homes since the 1970's and it is a small family owned business. Not one of these big companies in Minnesota. It is just the family and their whole business model is centered on the customer. I think it is why they have been able to hang around and compete with the bigger companies for Minnesota. It is a huge process building a home and there needs to be a very strong relationship/trust between the customer and builder.
The quality is a non-issue with them, but certainly you will make that decision for yourself in the interview process. It is never a bad idea to interview a couple builders.
If interested just contact me directly through Trulia using my profile icon and I will send you their contact information.
I grew up in the Roseville / Shoreview area and have been helping buyers and sellers there for many years. Please feel free to give me a call or shoot me an email if you would like to talk more about what you are looking for. I know you will like the real estate knowledge and negotiating skills I have to offer. I am know offering a free home warranty to my buyers and sellers. I feel this is a great way to help protect a buyers new purchase.
The Duckwall Team of Realtors
Your Referrals Are Greatly Appreciated
Tune in to our Twin Cities Real Estate Radio Show Sundays at Noon on AM950... more
You are in process. Just stay with it and let the steps unfold. These community development loans have their own pace and just go with the flow as long as your buying power and credit has been approved. Let your realtor help you and your loan officer. Liz, 612-986-4105... more
What??? That's not a good feeling! I would suggest talking to the manager of the mortgage company first. Do you have a real estate agent yet?
If you don't feel your issues are being resolved, I would encourage you to check with the State of MN Attorney General.
What I'm wondering is what you think your lender's incentive is for preventing you from getting your loan. If your loan goes through, that's how your lender gets paid, so I'm not exactly sure what you believe the motivation is here?
Good luck~... more
To be honest builders dont always budge much on price. A lot of it has to do with what upgrades and amenities the unit has. Many times they will also try to get you to use thier lender and say that they will pay closing costs. I've dealt with many builders and can walk you through the process.
As far as your other question a 3 bed 2 bath townhome in Woodbury right now is going on average for $150,000. I know this because just did a market for that exact home. I also have a 3 bed, 2 bath townhome in Woodbury coming on the market in a few weeks for $149,900 that has brand new carpet! If you are interested in knowing more or seeing the home I can set up a private before the market showing. Send me a message. Thanks!
Unfortunately the attorney handling the short sale is representing the seller and has no responsibility to answer to your Realtor. Short sales can be frustrating, especially when waiting that long. I am certain your Realtor is doing all they can to get a response from the listing agent. At this point the best advice I would give is to your Realtor....Call the listing agent's Broker and ask that the agent respond....
Realtor, Associate Broker
First, target the area you want. Second, consult a Realtor in your home town about finding you a good realtor in the target area. Third, investigate what will be required to get financed on a second home (usually the down payment is larger and the interest rate might not be as low as a primary residence). Fourth, contact the Realtor(s) and interview them on the phone to get a sense of what they are about. Establish email contact so you can provide the Realtor with pertinent information about EXACTLY what you are looking for.
Lastly, make a visit and view some property...make sure the Realtor is staying with your program and showing you houses you are really interested in.
Enjoy the experience and good luck.... more
Chicago and Stewart are both Companies that I have dealt with and would recommend;
Your Realtor may have a favorite.
Walk in and ask them for a HUD1 which will show your share of the Closing Costs so that you can compare.
You should be able to specific your choice.
Good luck and may God bless... more
The only losers in this market are those individuals that are not staying current and exploring real estate options....this doesn't mean that it's the right time for every individual to buy, but if you aren't actively looking, the perfect opportunity is likely not going to find you.
Is it the right time......absolutely, for the right people.
Our best recommendation, keep your options open by remaining current with your local market.
When you are buying and fall in love with a home, you don't have a lot of choice about the short sale lender. If your agent is able to search, definitely Wachovia & Wells Fargo. B/A is a crapshoot right now, although they say they are improving.... more