Financing in Cleveland : Questions & Answers

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Cecilia Sher…, Real Estate Pro in Lakewood, OH
Cecilia Sherrard answered:
Buying a house with garnishment on credit
There would be quite a few more questions regarding this situation to determine. Feel free to contact us anytime and we will be able to work with you to decide the best route. We work w ... more
0 votes Share Flag Wed Apr 10, 2013 Financing in 44125
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
will iI be able to get conventional financing 3 years after banruptcy with one paid collection?
Too many unknowns for an accurate answer....was the bankruptcy discharged, current credit score, etc., therefore for a personalized answer visit with any licensed loan officer; be aware ... more
0 votes Share Flag Sat Mar 16, 2013 Financing in Cleveland
Joseph Ferna…, Real Estate Pro in Arlington, TX
Joseph Fernandez answered:
I have found a property I would like to purchase (to rent out) that is under $20,000. Any idea of lenders that I can go through for help?
"MEETING YOUR NEEDS AND EXCEEDING YOUR DREAMS!"

That will be a tough one, I have had a few clients find lending through quicken loans online and have seen them lend as low as 35k how ... more
0 votes Share Flag Tue Dec 4, 2012 Financing in Cleveland
Cecilia Sher…, Real Estate Pro in Lakewood, OH
Cecilia Sherrard answered:
Will we get approved for a FHA or a first time home buyers loan?
It sounds like you're on track for obtaining an FHA loan. Your best bet is to talk with someone privately about your situation and goals. There are a few different options out there and ... more
0 votes Share Flag Thu May 24, 2012 Financing in Cleveland
Gregorio Den…, Real Estate Pro in San Diego, CA
Gregorio Denny answered:
refi/purchase fees
It would not be uncommon to see both an origination fee and points if you were getting a rate below par. As previously mentioned, the details of the transaction are important to determi ... more
0 votes Share Flag Fri May 18, 2012 Financing in 44118
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Cleveland, OH. I am looking for a mortage loan for $40,000 or less. Do not have perfect credit but it's not bad. Any advice?
Begin by checking with the bank you currently do business with, or any smaller local community banks, or any credit unions....
0 votes Share Flag Thu Sep 25, 2014 Financing in Cleveland
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
how much has to be my income if i wanna buy a house and i want to take 90000 loan, please?
Hi, Mimi. That will depend not only on your income but also reporting debts on your credit report. Both these things are taken into consideration when determining your buying power. ... more
0 votes Share Flag Sat Aug 24, 2013 Financing in 44129
Dp2, Other/Just Looking in Virginia
Dp2 answered:
How can I protest the fact that foreclosed home appraisals are ruining Richmond Heights housing values.?
Foreclosed properties aren't ruining property values. Property values go up and down as a function of the real-estate business cycle. Many areas are in the down portion of the cy ... more
0 votes Share Flag Mon Jun 13, 2011 Financing in 44143
Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
have two mortgages with two different lenders how can i refinace with no equity and bad credit and high ltv
Hello Rf,
I suggest that you consult with a mortgage Broker to determine if you might qualify to refinance your 2 mortgages. It appears doubtful that you will be able to so based o ... more
0 votes Share Flag Thu Feb 2, 2012 Financing in Cleveland
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
My credit score is 637 and im unemployed - my wife's score is lower due to id theft but makes $53000 can we get approved for a $69,900 home?
Hi, Kmez. Because you are currently unemployed, you will not be eligble to go on the mortgage. Therefore, and depending on what her credit score and history are like, only your wife w ... more
0 votes Share Flag Wed Jun 1, 2011 Financing in Puritas-Longmead
James Deskins, Real Estate Pro in Worthington Woods, C...
James Deskins answered:
If I have a close family friend who is willing to gift us our down payment, is this applicable to an FHA loan?
It used to be that FHA allowed for somebody other than your family to give you a gift. I think they still allow it. I'm sure a lender will chime in momentarily and answer....
0 votes Share Flag Wed Nov 17, 2010 Financing in 44109
Sheila Bradf…, Real Estate Pro in Parma, OH
Sheila Bradford answered:
im trying to buy a home for my son, the price is 30k and no lenders will do 4 under 50k is there any where to get a 30k loan thanks.
I don know if banks will do an actual mortgage for a house under $40,000. I can give my finance manager a call and ask him. Where can I contact you once I talk to him?

You can get ... more
0 votes Share Flag Thu Feb 24, 2011 Financing in Cleveland
Sheila Bradf…, Real Estate Pro in Parma, OH
Sheila Bradford answered:
What types of crimes would disqualify me from an fha loan?
Im not sure what they could have denied you for. May be the banks guidelines and not FHA's.

I have a great finance manager I could set you up with. He may have the answers you ... more
0 votes Share Flag Thu Aug 26, 2010 Financing in 44109
Kathy Weber…, Real Estate Pro in Temecula, CA
Kathy Weber (951) 551-7587 answered:
Down Payment?
Jason,

Unless you're purchasing this property with "cash" or a VA loan, you will be required to put some sort of "down payment" on the property/loan.

FHA ... more
0 votes Share Flag Sat Mar 27, 2010 Financing in Cleveland
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
Any know any hard money lenders who are willing to invest in the city of Cleveland, Ohio?
Hard money lenders you can do a google search for these types of lenders.

Most still require down payments, equity properties. Majority of these types of real estate transactions u ... more
0 votes Share Flag Fri Jan 8, 2010 Financing in Cleveland
Frank Scibana, Real Estate Pro in 44143
Frank Scibana answered:
Are there any investors looking to joint venture with a handy man certified in Building repair?
Hi Marlow, I'm sure there are, as I am a Realtor in the area, I do believe I have one or two buyers that would like to hook up with you in a joint venture. Send me an email and I will g ... more
0 votes Share Flag Tue Feb 17, 2009 Financing in Cleveland
Robbye Love…, Real Estate Pro in Woodmere, OH
Robbye Love Ferguson answered:
Will child support arrears disqualify me from an FHA loan? Plus, Is a 203k loan mandatory for an REO home?
Nearly all the REO homes I have seen these days are in need of quite a bit of work. Every home varies and there are a lot of loan options. I would urge you to speak directly to a mortga ... more
0 votes Share Flag Thu Aug 26, 2010 Financing in 44109
David M. Chi…, Real Estate Pro in Akron, OH
David M. Childress answered:
If I am getting a FHA lona, do I still need to shop around or is that the best possible loan I can get???
I would get at least one more for comparison. Depending on your situation, the FHA may be the best for you but you won't know until you look. It only takes about 10 minutes on the phone ... more
0 votes Share Flag Mon Aug 11, 2008 Financing in 44107
The EZ Sales…, Real Estate Pro in Avon, OH
The EZ Sales Team answered:
I am a 23 year old single mother and I want to buy a house, but my credit score is poor. I think it is at a
No now would be a good time for you. First make sure you do have the monthly income to really sustain payments and then consider a multifamily or lease option. For example, if you buy ... more
0 votes Share Flag Thu Feb 24, 2011 Financing in Cleveland
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