Financing in 80209 : Questions & Answers

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Michael Glist, Real Estate Pro in Aurora, CO
Michael Glist answered:
Do you have to be pre-qualified to start the homebuying process?
Technically NO but 99% of real estate agents/brokers will require you to be before showing you homes.

If you would like to get pre-qualified or pre-approved I would be more than hap ... more
0 votes Share Flag Tue Oct 22, 2013 Financing in Denver
Bill Donovan, Real Estate Pro in Littleton, CO
Bill Donovan answered:
What happens after you've applied your loan?
Prayer

And you may need to supply various documents or answer some questions for the lender as you get closer to closing. For example: the current address for your 5th grade math tea ... more
0 votes Share Flag Sat Sep 28, 2013 Financing in Denver
Rick Janson, Real Estate Pro in Denver, CO
Rick Janson answered:
How does the interest rate factor in securing a mortage loan?
Great question. Your qualification is based on a number of factors, one of which is your debt:equity ratio. Lenders look at your overall gross monthly income and your minimum monthly ... more
0 votes Share Flag Fri Sep 27, 2013 Financing in Denver
kristen, Real Estate Pro in Denver, CO
kristen answered:
Is there a penalty for paying of a mortgage early? If so, why?
yes, if there is a prepayment penalty. Why do they do this?? Because they don't make money on the money they lend if you pay it off right away. They'll nearly non-existent now but doubl ... more
0 votes Share Flag Tue Jun 11, 2013 Financing in Denver
Chad Bergman, Real Estate Pro in Denver, CO
Chad Bergman answered:
Can anyone recommend a good mortgage broker in Denver, that participates in the VA Lender Appraisal Process Program (LAPP)?
Hello. Our company is a Local Mortgage Banker and I might be able to help. My contact info is below.

Chad Bergman, CML
Sr. Mortgage Banker
Pinnacle Mortgage Group, Inc.
Direct ... more
0 votes Share Flag Tue Apr 2, 2013 Financing in Denver
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
Denied VA Loan, due to the lack of open credit lines.
Hi Nick,

We will allow borrowers with no credit scores and those who have a "thin" credit history to qualify for VA financing by manually underwriting the loan and using non-traditio ... more
0 votes Share Flag Fri Sep 27, 2013 Financing in Denver
Nina Kuhl, Real Estate Pro in Denver, CO
Nina Kuhl answered:
Does a "15 day first look" for Homepath properties mean you are required to use a Homepath loan?
The first 15 days means that it is eligible for homeowner occupied. Investors (non-homeowner occupied) can bid after this first 15 day period. You can use your own financing but sometim ... more
0 votes Share Flag Sat Feb 9, 2013 Financing in Denver
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
Question about making an extra payment every year - Advice requested.
Kristi,
Congratulations on buying your first home and for asking a great question. I can’t give you a blanket answer however. It will really come down to the rest of your fin ... more
0 votes Share Flag Fri Dec 28, 2012 Financing in Denver
Marina Bay, Real Estate Pro in Denver, CO
Marina Bay answered:
Question about closing and when first mortgage payment would be due on a 30 year fixed FHA loan.
Kristi,

Your first payment will be due March 1st. I explained it in detail in your other post.

Best of luck!

Marina Bay
Cherry Creek Properties
0 votes Share Flag Fri Dec 28, 2012 Financing in Denver
Marianne Ban…, Real Estate Pro in Parker, CO
Marianne Bandy answered:
Should we wait or are we there?
Congratulations to you! I suggest that you discuss with another lender to help you determine your next steps, paying off loans or saving for down payments. But, DO NOT WAIT another year ... more
0 votes Share Flag Mon Dec 31, 2012 Financing in 80204
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
Can I place a back up offer on a Home path REO under contract?
With Bank Owned homes often when one offer falls through the bank opens it back up to everyone to make offers again. Ask your agent to ask the banks agent if they will accept a back up ... more
0 votes Share Flag Fri Feb 8, 2013 Financing in Denver
Pete Cook, Real Estate Pro in 80211
Pete Cook answered:
Owner Occupancy Rates for Mortgage Financing
The best thing you can do get more opinions about your lending options. Some lenders that are locally underwritten will have greater flexibility with occupancy rates. If you find a lend ... more
0 votes Share Flag Thu Sep 6, 2012 Financing in 80205
Voices Member,  in
Voices Member answered:
We are buying a HomePath home & looking for an experienced lender with HP/FHA/Conv to evaluate & compare our options. .
I would suggest you look at options other than Homepath financing and really compare the costs of the loan.

FHA financing is the path many people are choosing these days. I would ... more
0 votes Share Flag Mon Dec 10, 2012 Financing in Denver
Sean M. Doug…, Real Estate Pro in 80521
Sean M. Dougherty answered:
Finding financing for our next house while ours is still for sale
Well, why not ask thw Sellers of the house you want to accept a contract with a 6 month closing date? Then you can buckle down and get your Home sold, and the Seller has a place to live ... more
0 votes Share Flag Wed Aug 8, 2012 Financing in Denver
Mike Papanto…, Real Estate Pro in Arvada, CO
Mike Papantonakis answered:
Non traditional lenders for 40K loan?
You can probably find a private lender to do the deal. I've worked with a company that has many private lenders and he may be able to help you out. I was even one of his private lenders ... more
0 votes Share Flag Tue Nov 20, 2012 Financing in Lincoln Park
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
if i buy a fannie mae house cash can i still get a loan to fix it up
If you have that much CASH;
why not buy it with a Convention Loan,
put 50-60% down, getting a realy nice interest rate,
and use the rest of your cash to fix it up.

Simplier!
0 votes Share Flag Sun Jul 1, 2012 Financing in Denver
Lynne Ellerb…, Real Estate Pro in Thornton, CO
Lynne Ellerbrock answered:
I am looking to get a new home in the KB Home's at Belmar in Lakewood, Colorado. I am looking for an excellent lender who knows FHA loans.
If you are not currently working with another real estate agent, email me at lellerbrock@residentrealty.com, or call 720-308-7307. I can provide you with a couple of lender referrals. ... more
0 votes Share Flag Fri Aug 24, 2012 Financing in 80226
Marianne Ban…, Real Estate Pro in Parker, CO
Marianne Bandy answered:
had short sale 6 months ago can i get a mortgage now
Depending on what type of short sale, you must wait 2 to 3 years. And, it depends on if you continued to make payments up until the short sale. And what you do with your credit after th ... more
0 votes Share Flag Thu Jan 9, 2014 Financing in 80247
Voices Member,  in
Voices Member answered:
I am looking to build a house in Solterra but need a creative mortgage broker or some advice.
Call Mortgage Broker Gary Keys at 303-588-3433. He just financed a deal for my buyer, a tricky 4 plex with come complex attributes. He manhandled it. Befor eI became a Realtor I was ... more
0 votes Share Flag Fri Sep 13, 2013 Financing in Denver
Nic Netherton…, Real Estate Pro in Fort Collins, CO
Nic Netherton, Colorado Lender answered:
What does Va do about temp employees?
Hello-

I would be happy to take a closer look at your situation if you would like to send me a message with some additional details at nnetherton@houseloan.com

How much does your ... more
0 votes Share Flag Sat Jun 30, 2012 Financing in Denver
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