Financing in Collin County : Questions & Answers

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Tom Burris, Real Estate Pro in Dallas, TX
Tom Burris answered:
In Texas can you do a cash out mortgage on a clear home with a guest house that has a separate electric meter.
The guest house with the separate meter is on the same lot? Survey shows this?
I don't see a problem.
The guest house having it's own meter doesn't affect title in any way so I would ... more
0 votes Share Flag Wed Feb 20, 2013 Financing in Plano
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
1. Does Home Equity Loan has another name as Cash Out? How much charge for the process fee?How about interest rate? 2.If I want borrow $70,000 sum
Recommend to contact a mortgage broker direct who can answer all your questions. Your closing costs will most likely roll into the loan which be approx. $3K -$5K .

Lynn911 Dallas R ... more
0 votes Share Flag Wed May 1, 2013 Financing in 75023
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
i am looking for stewardship group in plano,tx 75093
Stewardship can have several meanings can you provide additional details
0 votes Share Flag Wed Feb 20, 2013 Financing in Plano
Linda Lorenzo…, Real Estate Pro in 75070
Linda Lorenzo - (214) 578-3131 answered:
Are there realtors that specialize in home renovation for homes that need a complete remodel? Or how to find one? (Dallas Texas area)
A Realtor can guide you to the people who can help you - what you really need is a top notch lender who knows all these programs as they are the experts in this field. Lenders are the o ... more
0 votes Share Flag Wed May 6, 2015 Financing in 75069
Joshua A. Le…, Real Estate Pro in Saint Petersburg, FL
Joshua A. Lerette answered:
Does anyone out there do 10% down investor loans?
Yes indeed there is...but he has to purchase fannie mae/freddie mac owened homes and utilize home path financing. Other than that...you will not find a loan for less than 20% down not b ... more
0 votes Share Flag Mon Feb 11, 2013 Financing in McKinney
Annette Levi…, Real Estate Pro in New York, NY
Annette Levinson answered:
If I had a couple of credit cards that I stopped paying on while unemployed but settled over a year ago would that make it harder to refinance my
Lisa, everything depends upon the credit report. Consult with a mortgage officer to see if it makes a difference.
0 votes Share Flag Tue Nov 8, 2011 Financing in Wylie
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
How can i get the appraisal fee back from the lender in plano tx?
That Appraiser is trained and Licensed.
Zillow is neither.

The Assessment probably bears no resemblence to the VALUE of the Property: Some assessments might have been determined by ... more
0 votes Share Flag Fri Nov 25, 2011 Financing in Plano
Don Groff, Real Estate Pro in Cedar Park, TX
Don Groff answered:
What is refinance interest rate with 790 credit score ? We got 4.125% with 15yr fixed. Hope to consider no point, no fee.
Hello Richard,

My 15 year rates with the top 15 wholesale lenders in the country are averaging about 3.125% a close to par rate. If you are looking for a no cost refi the rate would ... more
0 votes Share Flag Mon Nov 14, 2011 Financing in Allen
Bruce Town, Real Estate Pro in Plano, TX
Bruce Town answered:
I had a bankruptcy discharge about 9 months ago. I now have good paying job and down payment saved up. Where and how can I find financing?
A good, reputable lender that has been referred to you by someone who has used this person before would be the place to start to talk to someone about obtaining financing on a home. Yo ... more
0 votes Share Flag Wed Oct 26, 2011 Financing in Plano
Sera Smith, Real Estate Pro in Plano, TX
Sera Smith answered:
trying to locate a used mobile home loan that sits on an acre. Any ideas for financing companies?
I do have several options for mobile homes. Must be double wide and meet FHA requirements. The age of the mobile home is very important. If you need help, you may contact me at ssmit ... more
0 votes Share Flag Sat Sep 17, 2011 Financing in 75454
Phil Rotondo, Real Estate Pro in 32940
Phil Rotondo answered:
What are the requirements to meet FHA loan rules on a mobile home?
The home must be constructed in conformance with the Federal Manufactured Home Construction and Safety Standards as evidenced by the affixed certification label. This is the RED TAG tha ... more
0 votes Share Flag Wed Aug 17, 2011 Financing in Melissa
RJ Avery, Real Estate Pro in Forney, TX
RJ Avery answered:
I have only 5% downpay with a Credit score 730. Looking to buy a home 250K
You would definitely need to talk to a loan officer to answer this question. If your do not have a realtor yet I would love to help and as and added bonus I give 20% of my commission t ... more
0 votes Share Flag Wed Feb 20, 2013 Financing in Plano
Brian Rayl, Real Estate Pro in Frisco, TX
Brian Rayl answered:
I have begun looking for a home recently. I am currently looking for information on loan availability and assistance programs for teachers.
Homebuyer,

The Texas State Affordable Housing Corporation (TSAFC) has an initiative called "Teachers and Heros" where they can get you financed for 4.99% and give you a 3% ... more
0 votes Share Flag Mon Mar 28, 2011 Financing in Plano
Peter Lindqu…, Real Estate Pro in Oakdale, MN
Peter Lindquist answered:
I had a foreclosure 4 years ago and have poor credit, are there any loan places that would loan, with 20% down and 10% intrest in the kansas city area
Hi Dawna - The key here is to talk to a few different local lenders about FHA financing. FHA guidelines only require that a foreclosure must be at least 3 years ago. Lenders are takin ... more
0 votes Share Flag Fri Mar 22, 2013 Financing in 75075
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
Do credit unions have softer credit requirements for mortgage loans than banks?
No professional can speak on behalf of another organization best contact credit union and then compare "apples to apples" with mortgage broker

GREAT QUESTION:

Lynn911 ... more
0 votes Share Flag Mon Nov 1, 2010 Financing in Collin County
Brenda Feria, Real Estate Pro in 23233
Brenda Feria answered:
We are buying a home w/n 3 mos. We will get FHA with 3.5% down. Can we have the seller pay 100% of closing in the negotiation?
Maddy,

The best thing that you can do is speak to your lender and ask for a Good Faith Estimate of Closing Costs. You can request that they prepare the Good Faith Estimate according ... more
0 votes Share Flag Sat Jan 8, 2011 Financing in Melissa
T.E. Sumner, Real Estate Pro in 75040
T.E. Sumner answered:
Looking to buy a house in Plano, TX. for $175K to $200K. Have $150K in cash. What are finance/loan options?
A buyer who has such a large down payment should consider a conventional loan. These loans have no mortgage insurance payment. Your credit scores (assuming you mean >730) will make ... more
0 votes Share Flag Wed May 1, 2013 Financing in 75023
Melissa Hail…, Real Estate Pro in Plano, TX
Melissa Hailey, 214-418-0180 answered:
The property I found dosn't qualify for FHA.Will it qualify for FHA203Kloan?Need major repair.
Tatiana,
The FHA 203k loan is a rehabilitation loan, meaning that its specifically for homes that need major repair. Please know that you will be required to work with a contractor fo ... more
0 votes Share Flag Thu Jun 3, 2010 Financing in Plano
Jackie Rankin, Real Estate Pro in Fort Worth, TX
Jackie Rankin answered:
I got your information from Melissa Short in Princeton; she said we could contact you regarding a Pre-Qualify
Darlyne,

Who are you addressing your question to?



Jackie
0 votes Share Flag Thu Apr 22, 2010 Financing in Collin County
Ronda Allen, Real Estate Pro in Amarillo, TX
Ronda Allen answered:
My wife and I bought a house almost 3 years ago, At that time, we did the loan in her name and the tittle was in her name only. I signed it Pro Forma
The answer is - Yes, with qualifications. Lending rules have changed dramatically in the last year. 2009 was definitely a year of changes in the industry. A spouse is not required to ... more
0 votes Share Flag Thu Dec 10, 2009 Financing in Allen
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