Financing in Charleston : Questions & Answers

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Mikki Ramey, Real Estate Pro in 29451
Mikki Ramey answered:
I am a qualifed buyer that wants to rent with option to buy while waiting on short sale approval. Is this a good idea?
There are definitely some risks with this approach. What happens if the short sale doesn't work out for a price you like? Will you want to move again? Have you already found a home ... more
0 votes Share Flag Tue Oct 9, 2012 Financing in 29406
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
Multiple equity loans
If you get an equity loan later on, part of the proceeds will be needed to pay off your current equity loan. No one does a third mortgage anymore.
You may want to consider refinancing ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in Charleston
Kathleen Emde, Real Estate Pro in Charleston, SC
Kathleen Emde answered:
Equity Loan questions
If you are a member of a local credit union, try those first. Otherwise find a reputable bank and ask for their help. Their are lots of good programs out there. Why not use your curr ... more
0 votes Share Flag Wed Jun 27, 2012 Financing in Charleston
Imogene Thom…, Real Estate Pro in Charleston, SC
Imogene Thomas,CRS,GRI,ABR answered:
Who will finance a short refinance. My lender (HSBC) has agreed to work with me, but said I need to be approved by another bank for a loan.
Hello Kelly, Contact Zach Larichiuta, Senior Loan Officer, with Shelter Mortgage, a branch of Guaranty Bank and Lending. You are interested in an "under water loan", where you ... more
0 votes Share Flag Fri Nov 11, 2011 Financing in Charleston
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
I am going to refinance my FHA mortgage with a streamline fha - should I get a second loan so I can avoid paying PMI? < 1K equity and it's
It's tough to find 2nd mortgages on non-owner occupied properties, it's tough to find 2nd mortgages up to 100% of your home's value, to find a combination of both is near ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in Charleston
Monir Mamoun, Real Estate Pro in Morristown, NJ
Monir Mamoun answered:
I am interested in purchasing a 4plex non owner occupied, what can I expect for a down payment?
You can't get an FHA then. If you go through a traditional lender you could see 20% to as high as 30% or even 50%! But if you shop around you should be able to get on the low side ... more
0 votes Share Flag Tue Dec 7, 2010 Financing in Charleston
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
I live in charleston sc and wanting to by a house but my credit score is 570. Is there anyway I can get financed?
No knowing any of your financial details--visit with any qualified loan officer(s) see what your budget can handle and check your credit score--their scoring is different--Currently FHA ... more
0 votes Share Flag Thu May 27, 2010 Financing in Charleston
Teresa Cooper, Real Estate Pro in Summerville, SC
Teresa Cooper answered:
We are planning to buy a second property, should we get prequalified for a loan? I read on one of
Karla, sounds like you're getting pretty serious about this move South! Yes, you absolutely should get prequalified. Most sellers require a prequalification letter with any offer. Pr ... more
0 votes Share Flag Tue Nov 13, 2012 Financing in Charleston
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
Looking to refinance 90% LTV on an investment property...
Virtually all investment properties require a 80% loan to value. in this market i do not know any banks that will do any less. some have even gone to 70% ltv. your best bet is to check ... more
0 votes Share Flag Wed Nov 12, 2008 Financing in Charleston
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