Financing in Kansas : Questions & Answers

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Jerry Long, Real Estate Pro in Topeka, KS
Jerry Long answered:
What bank will give a mortgage for a small mortgage for an investment property in Topeka 66606?
If you have good credit, several of the local banks will. I would try Alliance, Kaw Valley, Capital City. They will probably want 30% down for an investment loan, unfortunately. If y ... more
0 votes Share Flag Wed Sep 17, 2014 Financing in 66606
Reenie West, Real Estate Pro in 67230
Reenie West answered:
My husband and I have paid $1200-$1500 in rent over the last 3-4 years of our life. We have had issues with getting a decent loan because his job
I would be happy to talk with you and possibly make some recommendations for a knowledgeable lender. I have worked with buyers who thought it was impossible to get financing and with t ... more
0 votes Share Flag Mon Mar 25, 2013 Financing in Wichita
Ricci Dillon, Real Estate Pro in Manhattan, KS
Ricci Dillon answered:
Does an appraisal for a refi stay on record if the refi doesn't close?
Good question...the appraisal you had done is typically "owned" by the lender as they were the client for the appraisal. They used that appraisal to make a decision about whether they ... more
0 votes Share Flag Mon Jul 9, 2012 Financing in Manhattan
Fred Glick, Real Estate Pro in Los Angeles, CA
Fred Glick answered:
Are there any companies doiong 100% owner builder new construction loans?
That is a big void in the market. Sorry!
0 votes Share Flag Sat Jul 28, 2012 Financing in Kansas
Rudy R. McDo…, Real Estate Pro in Bloomfield Hills, MI
Rudy R. McDowell answered:
If a homepath loan offers homepath reno loan, do you have to use the reno loan, or can you use just regular homepath loan?
No. If the home does not require it, you don't have to utlize the reno/repairs aspect of the Homepath.
0 votes Share Flag Tue Jul 3, 2012 Financing in Kansas City
Sarah Klamm, Real Estate Pro in Wellsville, KS
Sarah Klamm answered:
Is there any loans avaiable,for someone with little or no down payment?
The USDA offers Rural Development Laons with 0 down payment. This doesn't have to be for farms or country property.

FHA offers 3% down payment loans as well.
0 votes Share Flag Thu Aug 2, 2012 Financing in 66720
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
How much would insurance (average) on a ~450k home be?
Contact a few local insurance companies and ask for free quotes based on your needs...
0 votes Share Flag Sun Mar 11, 2012 Financing in Sedgwick County
Shelly Christ, Real Estate Pro in Overland Park, KS
Shelly Christ answered:
Hello, my fiance and I are Juniors at KU, studying engineering. We have been renting for 5 years and would like to get into an owner financed home.
Are you wanting Lawrence or the Kansas City area?

Shelly Christ
913-485-8641
0 votes Share Flag Mon Jan 30, 2012 Financing in 66210
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence answered:
We are looking at buying a house that is 75k we want to take out a loan for 100k & use the extra 25k to make a few updates and buy some
Hawk, if I understand your plan you want to finance carpet, fresh paint, fencing, appliances, school loans and a car into a 30 year mortgage! Of the items on the list, how many will be ... more
0 votes Share Flag Mon Dec 19, 2011 Financing in Mission
Shane Milne, Real Estate Pro in Laguna Niguel, CA
Shane Milne answered:
We have a modular home in a park but want to sell and buy a different house what are the financing options with no money available for DP?
If you are buying in the Holton area then once you sell your modular home, and if your household income doesn't exceed $74,050/year, then you can purchase a home with USDA Rural Ho ... more
0 votes Share Flag Tue Sep 13, 2011 Financing in 66436
Clark Riel, Real Estate Pro in Sparks, NV
Clark Riel answered:
What would you do regarding investment property? Borrow from 401k or use personal funds?
Investors are always looking at a number of things one in particular is your return on investment. Say you do have a 600 per month net cash flow. That is something you could use to buy ... more
0 votes Share Flag Mon Aug 15, 2011 Financing in Kansas
Turn-Key Pro…, Real Estate Pro in Kansas City, MO
Turn-Key Properties LLC answered:
I'm a first time homebuyer, if i have a co-signer with the best credit score do i still have to put money down?
Mortgages without money "down" are pretty much a thing of the past. Most will require at least 3% down.
0 votes Share Flag Thu Jul 5, 2012 Financing in 66030
Laura Wesley…, Real Estate Pro in Lawrence, KS
Laura Wesley Chaney answered:
I have 6 SFH investment properties. I need a lender who can refinance me. I keep running into a 4 property max from lenders. Properties are in KS.
Steve Anderson with Private Money may be able to help.
Where are your properties?
Laura@laurachaney.com
785 865 5000
0 votes Share Flag Mon May 2, 2011 Financing in Kansas City
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
One of my clients purchased a home in 2009 and received the $8000 tax credit. She is a teacher and was laid off in Kansas budget cuts and had to
Sarah,

So your client is not located 50 miles away from the home she purchased in 2009? Isn't a 50 mile commute a reasonable expectation? Why not consider her meeting her origin ... more
0 votes Share Flag Fri Apr 15, 2011 Financing in 66092
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
My owner financed rental property term is up. Do I need to have 20% down to refinance as an investment property through a traditional bank?
Ususally no, they will look at what you owe and what it is worth and will want you to have 20% in equity, then you will not need an additional down payment as long as you meet credit gu ... more
0 votes Share Flag Thu Dec 16, 2010 Financing in Overland Park
Kevin Olson…, Real Estate Pro in Colorado Springs, CO
Kevin Olson and Jessica Laude answered:
i am behind 3 months on my mortgage. When will lender start the foreclosure proceedings?
This can depend on who your lender is and whatever is going to be figured out through the mess of things going on right now involving foreclosure proceedings. Your only way to be certai ... more
0 votes Share Flag Fri Oct 8, 2010 Financing in 66618
Thomas Tolbe…, Real Estate Pro in 31410
Thomas Tolbert answered:
both me and my wife work and we want to buy a house but we have bad credit. can we qualify?
Tony, I would suggest you contact a reputable mortgage lender in your community. A good lender can assess your current financial picture and advise you on what you need to do to improv ... more
0 votes Share Flag Fri Aug 6, 2010 Financing in Wichita
Dfrog, Home Buyer in Longmont, CO
Dfrog asked:
I have a rental house in Ks., The house has a pos. cash flow of 500.00. ltv of 57%. credit sc. 750 . Refi. based on these facts alone? 7yrs rented. loan now is adj. currently at 30 yrs.amort. at 3.67% It adjusts each yr. against LIBOR yr. 2.75% LIBOR. Option to reduce principle and have it reflected in payment amount. IL belie...
0 votes Share Flag Wed Jul 7, 2010 Financing in Kansas City
Debra (Debbi…, Real Estate Pro in Livingston, NJ
Debra (Debbie) Rose answered:
Can I get a loan even if I have bad credit?
Aidam, it depends on how bad it is - speak to a mortgage broker...you can always work on imporoving it!

Good luck
0 votes Share Flag Thu Jun 17, 2010 Financing in Garden City
Jerry Long, Real Estate Pro in Topeka, KS
Jerry Long answered:
If your credit score isn't high enough (620-640) will mortgage brokers tell you what you need to do to help raise your score or do you have to
I'd recommend that you stay away from a mortgage broker on this and see a reputable local lender; they can give you this information and direct you down the right path.
0 votes Share Flag Tue Feb 4, 2014 Financing in Shawnee
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