Financing in Austin : Questions & Answers

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Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
Will my poor credit keep me from getting a house?
Steph,


Your best approach may be twofold......with number one, working toward improving your credit score, while number two is continuing to consult with lenders to find someone th ... more
0 votes Share Flag Thu Mar 25, 2010 Financing in Austin
Mylendingpla…, Real Estate Pro in Austin, TX
Mylendingplace.com answered:
I am looking to re-finance a 10-plex in the Austin area. LTV is around 60%. Any recommendations on lenders?
Thanks for the question….

Today’s market is a fannie mae/freddie mac/FHA world. This means any loan or property must fit into the fannie/freddie/FHA guidelines. In ... more
0 votes Share Flag Tue Jul 20, 2010 Financing in Austin
Jose, Real Estate Pro in Austin, TX
Jose answered:
Must 203K qualifying property be at least a year old? If so, are there similar loans w/o that requirement?
Newly built/Unfinished properties will not qualify for the FHA 203(k) Loan.

And have yet to come across a similar purchase/rehab conventional loan with 3.5% downpayment, one time clo ... more
0 votes Share Flag Fri Aug 14, 2009 Financing in 78702
Adrian Lufsc…, Real Estate Pro in Austin, TX
Adrian Lufschanowski answered:
I have a very valuable commercial property (12 ac on Interstate 35)..I only owe $80K on it and am looking for
Is it raw land? If so that is a difficult deal to get done in this environment. If it is not raw land email one of my partners and we can let you know in a few minutes if we can loan a ... more
0 votes Share Flag Fri Sep 11, 2009 Financing in Austin
Kevin, Other/Just Looking in Texas City, TX
Kevin answered:
Is there any Lender who can help buyers with ITIN numbers anymore ?
http://www.eaglenationwidemortgagetx.com/
hope they can help you out.....
0 votes Share Flag Wed Jul 29, 2009 Financing in Austin
Voices Member,  in
Voices Member answered:
Which banks specialize in lending for investment property?
Call Chris Abbott with Prime Lending at (512) 241-1743. He has an array of different types of lenders that could finance your quadplex. Expect to pay a 30% down payment unless you occup ... more
0 votes Share Flag Tue May 7, 2013 Financing in Austin
James Cook, Real Estate Pro in Austin, TX
James Cook answered:
Recommendation of lenders in Austin will work with good credit scores /late pay mortgage past year.
Tab,

How many late pays do you have ?


James
0 votes Share Flag Tue Oct 20, 2009 Financing in Austin
Betina Forem…, Real Estate Pro in Austin, TX
Betina Foreman answered:
Iam looking for condos near downtown Austin in the 150,000 to 200,000 range that are owner financed.
There are several condos close to downtown Austin in this price range. I am sending you the ones that are owner financed.
Sincerely,
Betina
0 votes Share Flag Thu Jul 9, 2009 Financing in Austin
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
are conventional loans still available for acquisition/rehab of residential property?
Many lenders are reviewing 2nd home purchase could require additional downpayments. Banks got "kicked huge" when these investment properties were returned since it was not investor res ... more
0 votes Share Flag Sat Jan 24, 2009 Financing in 78702
Perry Hender…, Real Estate Pro in Austin, TX
Perry Henderson answered:
Seeking Hardmoney for residential rehab projects. Wanting to establish relationship with firm for future deals
Send properties to perrytexas@yahoo.com.

The HM guys I deal with at 10%-16% and 4-6 points but its always better than paying 50% to a partner.
0 votes Share Flag Tue Feb 3, 2009 Financing in Austin
Josh Thomas, Real Estate Pro in Austin, TX
Josh Thomas answered:
Current Mortgage availability in Austin
Ethan,
There are a variety of available options depending on where the home is located, your credit score, and some other factors.

For instance, a USDA loan allows for no downpaymen ... more
0 votes Share Flag Thu Jul 1, 2010 Financing in Austin
Diane Wilder, Real Estate Pro in 19083
Diane Wilder answered:
Given all the negative headlines about the financial sector why aren't we reading anything about PMI providers
They are hurting. I think that because these companies are not household names, consumers are not aware that these businesses have been financially "off" for some time.

For example, ... more
0 votes Share Flag Fri Nov 14, 2008 Financing in Austin
Bruce Lynn, Real Estate Pro in Coppell, TX
Bruce Lynn answered:
Do you know of a lender who has foreclosed on a homebuilder w/unfinished inventory?
Would they consider North Texas? Not sure if there are any of the Goff homes left or not, but if I remember correctly they had several under construction in this area that were in var ... more
0 votes Share Flag Sun Nov 9, 2008 Financing in Austin
Sharon Parker, Real Estate Pro in 77459
Sharon Parker answered:
Looking for Hard Money Lenders in Austin Texas area that can provide 70% of ARV.
Hi Jeremy. I hate to tell you but hard is not out anymore,unless it is a pravite lender. Good luck in your search.
0 votes Share Flag Sat Oct 30, 2010 Financing in Austin
Bruce Lynn, Real Estate Pro in Coppell, TX
Bruce Lynn answered:
How are property taxes calculated in Texas?
Property taxes are higher than in CA. It varies by city, school district, county, and perhaps some other taxing jurisdictions. The rate is typically 2.5-3% of the value of the proper ... more
0 votes Share Flag Thu Oct 9, 2014 Financing in Austin
Perry Hender…, Real Estate Pro in Austin, TX
Perry Henderson answered:
What capitalization rate should I use for Austin to calculate the offer price?
Now you are talking my language,,,,

Professional investors usually have a cap rate of 6. That means when they get a 6, they buy. If they get an 8 they dance for joy.

Anything over ... more
0 votes Share Flag Tue Nov 26, 2013 Financing in Austin
Paul B. Perez, Real Estate Pro in Austin, TX
Paul B. Perez answered:
Is anyone doing 70% hard Money in Austin? Lot clean and clear, Lot value $60k, need $200, Lakeway, Tx?
I don't know of any. There is a local builders supply co. that will give a construction loan for materials. Interested?
0 votes Share Flag Thu Oct 3, 2013 Financing in 78738
Mylendingpla…, Real Estate Pro in Austin, TX
Mylendingplace.com answered:
I have been told to hold my investment properties in a Trust, how does this work?
As a local Austin mortgage guy, I'm getting a lot of phone calls regarding lease purchases. Some calls are from the investors (wanting to buy property in order to offer lease purchase ... more
0 votes Share Flag Mon Mar 31, 2008 Financing in Austin, TX
Perry Hender…, Real Estate Pro in Austin, TX
Perry Henderson answered:
Is anyone doing 70% ARV Hard Money loans in Austin?? It is a rehab 3/2 SFR in Travis Heights. I need $525K
Yes 70% ltv, 5 points and 14-16% interest. You interested?
0 votes Share Flag Fri Mar 13, 2015 Financing in Riverside
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