Financing in Logan Square : Questions & Answers

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Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
Can I get an FHA mortgage on a "fixer upper"?
The loan you are probably looking for is an 203k loan, which is an FHA rehab loan. You can take out a loan for more than the purchase price, but you have to get all your estimates lined ... more
0 votes Share Flag Sat Sep 21, 2013 Financing in Logan Square
Curtis Darra…, Real Estate Pro in Poughkeepsie, NY
Curtis Darragh answered:
Apprailal found to be worth more than I paid. Can I get rid of PMI?
Zach,

What your lender is telling you is true based on my experience. The MI is based on the purchase price. Typically after 12 months you can have a formal appraisal (not a brokers ... more
0 votes Share Flag Tue Mar 9, 2010 Financing in Logan Square
Will, Real Estate Pro in Atlanta, GA
Will answered:
do the same mortgage rates apply to 203(k) loans (e.g. do jumbo rates apply to 203(k) loans over $417K)?
The rates on the higher balance 203k are currently showing an .125 higher than the conforming 203k.
0 votes Share Flag Sat Jun 28, 2008 Financing in Logan Square, Chicago, IL
Infinity Rea…, Real Estate Pro in Saratoga, CA
Infinity Realty Network answered:
Jumbo loan for a 3-4 flat investment property on Chicago's north side.
A couple of months ago no money down would be an option. With the most savy mortgage lender you might get away with 95% if you intend to occupy one of the units. I have seen on other oc ... more
0 votes Share Flag Sat Nov 3, 2007 Financing in Logan Square, Chicago, IL
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