Depends on the sub area and property features. If I can be of assistance with a complete market analysis, please give me a call (256) 348-1030 Heather Vader, Associate Broker ALA-TENN REALTY, Inc.... more
In Huntsville's current market for a house priced about 100K, it's common to expect a seller to contibute an amount, if not all towards a purchaser's closing costs, pre-paids, and escrow deposits or total settlement costs to help in their acquisition of the home.... more
Lending guidelines require that commission income must have been received at least 24 months before it can be deemed stable enough to use as qualifying income. All mortgage lenders must follow the same HUD guidelines for FHA loans.
HUD states that:
"Commission income must be averaged over the previous two years. To qualify with commission income, the borrower must provide
Â· copies of signed tax returns for the last two years, and
Â· the most recent pay stub.
A borrower whose commission income was received for more than one year, but less than two years may be considered favorably if the underwriter can:
Â· document the likelihood that the income will continue, and
Â· soundly rationalize accepting the commission income."
If you have been receiving it for less than 12 months, then you would need meet the FHA guidelines above at this time.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyle Renovation | VA | USDA | GA Dream | Jumbo Financing... more
Getting new business is always a challenge for any business. Best thing to do is go out and talk to people about what you do. Network, pass cards, get referrals. Posting on forums help, but should be done appropriately. Try Craigslist as well. The rate on forum listings is low, but some successes if done constantly.
Join a local BNI group as well, they are always looking for members that are trade service related.... more
I would start spreading the word with all of the people in your sphere of influnce. Since referrals are the best way to get work let them help you. If you already have trust with these people then proving yourself through your work should be easy.
Joseph: 1. Honesty about the market and current information about pricing. 2. Communication and ease of availability. (Answering phone calls and e-mails), quickly. 3. History of positive negotiation skills in the way of getting offers accepted.... more
Contact a realtor who can represent you regarding the contract. These types of sales can be extremely tricky unless you read the fine print. How do you know there is not a mortgage on a home, or just taking it from seller word. Keep in mind any lease/ lease option purchase your in business with the property owner/seller best to always try to obtain your own loan to purchase a home. These types of transaction in some instances lead to major problems. Also confirm there are no liens on the property
http://www.lynn911.com http://www.homes-for-sale-dallas.com... more
Vik- Are you looking to buy or rent in Virginia or Huntsville? Once clarified, agents from the appropriate area will then be able to respond accordingly. Now, if you're looking to buy, sell or rent in GA, feel free to give me a call ;-)