Financing in Phoenix : Questions & Answers

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Dan K Brosman, Real Estate Pro in Phoenix, AZ
Dan K Brosman answered:
I m living in Central America and have a tourist visa, i want to buy a home in Arizona, Phoenix 85138, i have excelent credit record What can i do?
Go see a loan officer. Anyone may purchase a home who has the money and or necessary credit. When you sell their will be a hold back until it's determined if you owe any taxes.
0 votes Share Flag Mon Feb 28, 2011 Financing in Phoenix
Spirit Messi…, Real Estate Pro in 85718
Spirit Messingham answered:
Homepath question - Wife had short sale approved Jan '10, can she be eligible in Jan '12 for Homepath mortgage?
Talk with a lender, if you do not know any local lenders try your bank.
0 votes Share Flag Wed Mar 9, 2011 Financing in Phoenix
Douglas Fuji…, Real Estate Pro in San Marcos, CA
Douglas Fujikawa answered:
I am interested in a home in AZ. I am on title to the current home I live in because I rent it from my daughter, would I still qualify for FHA firs
You would qualify for an FHA loan if you do not already have an FHA loan in your name with a balance on it, are buying a home with the intent to live in it and meet the credit and incom ... more
0 votes Share Flag Thu Feb 10, 2011 Financing in Phoenix
Doug McVinua, Real Estate Pro in 85295
Doug McVinua answered:
I am concerned that some of these Pro Advice givers are severly deficient in experience or mortgage know how to be delivering advice. Anyone else?
Matthew

Raising the bar in the Real Estate Industry is an effort I have personally been involved heavily in for years. It does take a collective effort to have an impact.

The gen ... more
0 votes Share Flag Sat Jan 29, 2011 Financing in Phoenix
Sally Grenier, Real Estate Pro in Erie, CO
Sally Grenier answered:
how much is the association fees for townhome? is there a cap?
HOA fees vary from place to place, depending on what ammenities are offered. (i.e. if there's a pool, clubhouse, etc) Usually the more ammenities, the higher the HOA dues. Do you h ... more
0 votes Share Flag Mon Feb 14, 2011 Financing in Phoenix
John Baldovin, Real Estate Pro in Phoenix, AZ
John Baldovin answered:
Any government programs for responsible homeowners under water with (Chase) FHA loan and excellent credit taking?
you can short sale the property, and buy another home if you have keep your payments up to date. for more infor contact me.
0 votes Share Flag Sun Jun 19, 2011 Financing in Phoenix
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
Is there hard money lender who lends to foreign investors for buy and hold investment for 3-5 years? What interest rate/LTV?
There are hard money lenders but they as well as banks have tightened up on their ending practices. They want you to have some sort of down payment and investment into the property befo ... more
0 votes Share Flag Tue Dec 14, 2010 Financing in Phoenix
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
first home buyer's would like to sbmit a bid? Of $33,000.00 on property at 9027 w.Whitton Ave Phx, 85037
Are you looking for an agent---If you are not working with an agent it may be a good idea to consider doing so, before making any offers--he/she can provide you with comps--recently sol ... more
0 votes Share Flag Tue Nov 16, 2010 Financing in 85037
Dp2, Other/Just Looking in Virginia
Dp2 answered:
Are there any real ways to refinance my home if it is upside down?
You could do a cash-in refinance, you might be able to do a rate/term refinance, or you might be able to recast your loan.
0 votes Share Flag Fri Nov 5, 2010 Financing in Phoenix
Carlos, Real Estate Pro in Chandler, AZ
Carlos answered:
does anyone have info on a company called -AZ investment property experts?
You can check the records on any corporation by doing some google searches, also check the Arizona Corporation Commission website for details. http://starpas.azcc.gov/scripts/cgiip.exe ... more
0 votes Share Flag Thu Nov 4, 2010 Financing in 85045
Tony Valdez, Real Estate Pro in Phoenix, AZ
Tony Valdez answered:
I need help applying for a grant to purchase a home.I would like to take advantage of the real estate situation.I should qualify im just not sure how
I work with and have helped many people buy a home using the the grant/downpayment programs. The first step is getting a pre-approval then I can refer you over to a program that has fun ... more
0 votes Share Flag Thu Sep 30, 2010 Financing in 85032
Matt Puzz, Real Estate Pro in Phoenix, AZ
Matt Puzz answered:
Are lender requirements different when purchasing a manufactured home as compared to buying a site built home? we are looking for a vacation home.
Yes,
A manufactured home is treated differently from a stick and stucco or a brick or block. There are fewer lenders that will loan money against a manufatured home and there is more ... more
0 votes Share Flag Thu Aug 19, 2010 Financing in Phoenix
Bryan Vasquez, Real Estate Pro in 85003
Bryan Vasquez answered:
We short saled a home 2 yrs ago, have 680 score. Now they changed guidelines to 3 years, what other finance options do we have.
3 years for an FHA guaranteed loan is correct. You can get a conventional loan after 2 years however you will need 20% down.

There are a good number of investors that will do a le ... more
0 votes Share Flag Mon Nov 1, 2010 Financing in Phoenix
Stephanie We…, Real Estate Pro in Gilbert, AZ
Stephanie Weiss answered:
if I have a mortgage of 550 per month and pay 900 per month how long will it take to pay off an 82,000 mortgage?
Carol,

Depends on your interest rate. Use the link below to plug in the figures and you should get your answer.

Stephanie Weiss
http://StephanieWeissMoves.com
0 votes Share Flag Tue Aug 10, 2010 Financing in Phoenix
Dawn Richard…, Real Estate Pro in Alpharetta, GA
Dawn Richardson answered:
when a listing states "owner will carry", do the terms vary? Or does the seller then become the bank for the normal 30 year loan?
The Seller is willing to becomes the lender for the property. Normally this if the Buyer is unable to obtain financing through a bank or mortgage company. I suggest you use a Buyer ... more
0 votes Share Flag Fri Aug 6, 2010 Financing in Phoenix
Joseph Domino, Real Estate Pro in Scottsdale, AZ
Joseph Domino answered:
I have a home on 2 acres that appraised a year ago for 325k I have a 75kballoon due on it in 2012 I have alot of equity in it ,Ive lived in it 16
It sounds as if you want to sell before the balloon comes due. Manufactured homes are more difficult to finance, but not impossible. Unfortunately, because of your large lot your valu ... more
0 votes Share Flag Wed Jul 14, 2010 Financing in Phoenix
MaryLynn Ols…, Real Estate Pro in Mesa, AZ
MaryLynn Olson answered:
If I am on a title to a home but not the mortgage, will a foreclosure affect my ability to buy a house?
Yes if your credit score is above 620 on the median score of all three credit bureaus. This situation happened recently with someone I know. The foreclosure is against the property an ... more
0 votes Share Flag Mon Nov 1, 2010 Financing in Phoenix
The Urban Te…, Real Estate Pro in Phoenix, AZ
The Urban Team answered:
Are there any loans that accept foreclosed houses with boarded up pools?
That is a lender question. I pose such questions to Judy Giel at MetLife Home Loans as she has great knowledge and is very honest with our clients. She can be reached at 602-494-6000 ex ... more
0 votes Share Flag Mon Jun 21, 2010 Financing in Phoenix
Darrell Evans, Real Estate Pro in Las Vegas, NV
Darrell Evans answered:
Looking to finance 5th property
Chris, you'll likely need to work with a mortgage banking firm that has secondary market outlets outside of the big banks. We have the product. The criteria is tough but can be d ... more
0 votes Share Flag Sun Jun 13, 2010 Financing in Phoenix
Joyce Sass, Real Estate Pro in Cape Coral, FL
Joyce Sass answered:
Our home appraised for 233, we need it to be 269 and a house that is our floorplan closed within the past two weeks.
Even though it is the same floor plan, is it comparable in age, sq. footage & style? Determining if you should get another appraisal is hard to say. Are there any more comps that s ... more
0 votes Share Flag Thu May 13, 2010 Financing in Phoenix
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