Financing in Miami Beach : Questions & Answers

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Wenceslao Fe…, Real Estate Pro in 33130
Wenceslao Fernandez Jr answered:
Where can I find 90% LTV super jumbo mortgage for primary residence in Miami Beach?
It would help if you could specify whether this is for a single family home or condo. Either way...I'd like to see what responses you get from mortgage professionals. Even with 800+ cre ... more
0 votes Share Flag Wed May 14, 2014 Financing in Miami Beach
Steve Vinson, Real Estate Pro in Florida
Steve Vinson answered:
Can I get a loan with credit score of 661?
With that score you can get one all day long
0 votes Share Flag Wed Jan 15, 2014 Financing in Miami Beach
Jim Simms, Real Estate Pro in Louisville, KY
Jim Simms answered:
When doing an appraisal, is it true that the appraiser cannot use any comparable in the same building as long as it is being sold by the developer?
It sounds terribly wrong to me; we would require those comps to be used. The appraisal was ordered by the lender, I would question the lender in writing, an email for speed, followed u ... more
0 votes Share Flag Tue Jan 8, 2013 Financing in Miami Beach
Alistair Bar…, Real Estate Pro in The Villages, FL
Alistair Barrett-Powell answered:
Bought a condo in Dec '10 for $370k. Appraisal was $400K.Now I'm trying to refinance and the appraisal is $287k! Is the bank behind this?
Geraldine,

Without seeing the full appraisal and comparables used, I can't see whether or not this is a "fair" appraisal.

You can suggest that the appraiser revises ... more
0 votes Share Flag Tue Jan 8, 2013 Financing in Miami Beach
Danielle Sha…, Real Estate Pro in Cape Coral, FL
Danielle Sharp answered:
Problem with financing, bank did not approve loan based on home repair exception and appraisal value I offered 240k home appraised at 186k.. But I had
Try another lender. Most lenders have the same general programs but guidelines (also called overlays) will differ. If this is a home you really want it might work out with a different c ... more
0 votes Share Flag Tue Jun 28, 2011 Financing in Miami Beach
tim moore, Real Estate Pro in Nags Head, NC
tim moore answered:
Question
I would guess there are many mortgages in Florida. If you buy a house or condo and borrow money - that is a mortgage.
0 votes Share Flag Fri Nov 18, 2011 Financing in Miami Beach
Scott Eric K…, Real Estate Pro in Miami Beach, FL
Scott Eric Klein, P.A. answered:
if i dont have a job and i have 50% of the price do i have any chance that a bank will help me to buy that property ?
First of all 50 % of what price?
0 votes Share Flag Mon Feb 7, 2011 Financing in Miami Beach
Lynn911.com…, Real Estate Pro in Dallas, TX
Lynn911.com Dallas Realtor answered:
Looking forward finance for $100,000 for an investment property in Miami. I have no credit history as I've just moved to the US.
Best go direct to mortgage broker who can answer all your questions . Many more answer are required virtual opinion is not to your best interest.

You can also inquire for a loan fr ... more
0 votes Share Flag Wed Dec 12, 2012 Financing in 33139
Sam Thompson, Real Estate Pro in Atlanta, GA
Sam Thompson answered:
I have been denied a loan modification due to liquid assets. Do I have any other options the bank won't let me modify?
If the issue is in regards to reduced equity in the home as a result of reduced property values and you have made your payments on time, you could possibly qualify for a refinance under ... more
0 votes Share Flag Fri Dec 3, 2010 Financing in 33141
Realestatema…, Real Estate Pro in Miami Beach, FL
Realestatemaximiliano answered:
where can I find a seller financed condo on or near the ocean in the miami area?
call me I have a long list of seller finance deals 954-496-4922
0 votes Share Flag Fri Jul 6, 2012 Financing in North Shores
Kdfiehjnkl, Other/Just Looking in Jacksonville, FL
Kdfiehjnkl answered:
Hi iam trying to buy a condo in jacksonville florida , the landings at belle rive. my mortgage guy at suntrust has called fha to find out if fha
there's a website that tells you if the landings are FHA approved. I believe that they are. http://activerain.com/blogsview/1703844/check-if-that-condo-is-fha-va-approved-
0 votes Share Flag Sun Feb 20, 2011 Financing in 33139
Mott Kornicki, Real Estate Pro in 33154
Mott Kornicki answered:
Is there financing avalable for condo/hotels in Miami Beach?
There are very few- if any banks that are willing to finance a condo-hotel. Some developers may consider seller or in-house financing. Private lenders are a better source. It seems like ... more
0 votes Share Flag Thu May 6, 2010 Financing in 33139
Beth Jenkins, Real Estate Pro in Miami Beach, FL
Beth Jenkins answered:
Please I'm foreign, Can I buy a property and finance?? How can I take my Credit report?? It´s better buy with my company?
Hi Silvia,
Thanks for asking your question on Trulia!
I believe the best route for you is th go to the largest bank in your countro see if there is a program for the foreign purchase ... more
0 votes Share Flag Sun Jan 31, 2010 Financing in Miami Beach
Jason Dipers…, Real Estate Pro in Haddonfield, NJ
Jason Diperstein answered:
Financing a condo these days
Debbie,

An FHA loan will allow you to borrow up to 96.5% on a purchase, so your down payment can be as low as 3.5%. Any loan amount borrowed that's over 80% will require mortgage in ... more
0 votes Share Flag Sun Jun 14, 2009 Financing in West Avenue
Joshua A. Le…, Real Estate Pro in Saint Petersburg, FL
Joshua A. Lerette answered:
I am 4 month behind with mortgage starting now. I only have half of a one month mortgage payment that
I'm truly sorry to hear that Orlando! Have you tried to modify your loan to get favorable terms you can handle. I'm truly sorry to hear about your situation. Best of luck.
0 votes Share Flag Wed Dec 16, 2009 Financing in 33139
Robin Silver…, Real Estate Pro in Garden City, NY
Robin Silverberg answered:
I have been denied modification 4 times. What is it for if they cannot help?
What the banks are looking for is for you to prove that you qualify not just to cover your payment with your income, but to have a debt-to-income ratio that is no more than 45%, most li ... more
0 votes Share Flag Wed Sep 12, 2012 Financing in 33141
Lindsey M. B…, Real Estate Pro in Ohio
Lindsey M. Bishop answered:
how do you get a florida condo fha approved?
2) Q. How can I get a Condominium approved?
A. The guidelines for submission of Condos are set forth in HUD Handbook 4150.1 Rev-1, Chapter 11. Generally, the necessary documentation i ... more
0 votes Share Flag Wed Sep 9, 2009 Financing in 33139
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
If i get a tenant for my condo, can i still modify my mortgage?
normally lenders will only modify a mortgage if it is owner occupied AND the owner demonstrates hardship.
0 votes Share Flag Fri Mar 13, 2009 Financing in 33141
Bill Eckler-…, Real Estate Pro in Venice, FL
Bill Eckler-Florida, answered:
Mortgage for non-us citizen with a good job?
Sonia,

At this time, foreign nationals are being requested to provide a 30 to 40 percent deposit when applying for financing. Mortgages are available but with more upfront money inv ... more
0 votes Share Flag Wed Feb 25, 2009 Financing in Miami Beach
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