Financing in Pittsburgh : Questions & Answers

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Anthony Gigie…, Real Estate Pro in Drexel Hill, PA
Anthony Gigie Sciandra answered:
Is it worth adding heat to our finished attic to create two extra bedrooms (currently have a 3 bed, 1 bath) before we refinance?
Yes I would agree with your mortgage broker on this point. When showing homes in my area a lot of attics are not livable and the ones that are bring more desire from buyers. Also, you a ... more
0 votes Share Flag Tue Oct 23, 2012 Financing in 15208
Fred Glick, Real Estate Pro in Santa Monica, CA
Fred Glick answered:
Does anyone know a FHA mortgage lender that works with a Chapter 7 Bankruptcy due to extenuating circumstances of a family illness after one year?
Unfortunately, there are bankruptcy guidelines from FHA that cannot be changed.

Sorry.
0 votes Share Flag Fri Sep 20, 2013 Financing in Pittsburgh
Doug Rees, Real Estate Pro in Pittsburgh, PA
Doug Rees answered:
I want to get a lower interest rate on current home
Hi Frank, now is a great time to refinance your home while interest rates are at historic lows. I have a wonderful Mortgage Representative that I use moat of the time. Feel free to con ... more
0 votes Share Flag Mon Jul 30, 2012 Financing in Brighton Heights
Doug Caye, Real Estate Pro in Wexford, PA
Doug Caye answered:
Can anyone give me information on a stated loan program for getting a mortgage loan. How much higher is the interest rate and are there any catches?
I am not aware of any stated loan programs at all anymore?? I sold 40 homes last year and with the exception of a few cash sales all are full doc loans-- Thats just my experience, You ... more
0 votes Share Flag Fri Sep 13, 2013 Financing in Pittsburgh
Joann Snyder, Real Estate Pro in Pittsburgh, PA
Joann Snyder answered:
Looking to purchase 2 unit multi-family to rent and live in, Is potential rental income taken into consideration when applying for mortgage?
Potential rental income is not considered when applying for a mortgage unless you have a tenant already and have signed a lease with them. If you have any other questions, I would be v ... more
0 votes Share Flag Sun Feb 5, 2012 Financing in Pittsburgh
Deeley Chest…, Real Estate Pro in Ocean City, MD
Deeley Chester answered:
Looking for DIY / Self Build Options for a Mortgage on an uninhabitable house.
Always check with a local bank. Sometimes they have a better understanding of your area than national banks. Depending on your income to debt & assets they are willing to do a loan& ... more
0 votes Share Flag Fri Aug 26, 2011 Financing in Pittsburgh
Jill Stehnach, Real Estate Pro in Sewickley, PA
Jill Stehnach answered:
Does anyone have any leads for financing on Cooperative properties?
Evan,

You may want to check with Sewickley Savings Bank. We have many cooperative buildings in Sewickley. Many of these transactions are done with cash, but not all. I have not ch ... more
0 votes Share Flag Wed May 4, 2011 Financing in Pittsburgh
Fred Glick, Real Estate Pro in Santa Monica, CA
Fred Glick answered:
Can I "assume" an FHA loan if I already have an FHA loan for my primary residence?
You should be good for an assumption. Make sure Citi knows all the details upfront.

Good luck!
0 votes Share Flag Mon Apr 18, 2011 Financing in Pittsburgh
Laura Stevens, Real Estate Pro in Pittsburgh, PA
Laura Stevens answered:
Pittsburgh investor needs recommendation for lenders.
Mike,

I have a number of lenders I could give to you. I have them in a word document which I cannot add in this form. Feel free to email me, and I can send over. lstevens@remax.ne ... more
0 votes Share Flag Sat Feb 5, 2011 Financing in Pittsburgh
Doug Caye, Real Estate Pro in Wexford, PA
Doug Caye answered:
How much have home prices in Pittsburgh dropped in the past 5 years?
Hi,

It really depends on where you are in Pittsburgh- but on average we have still seen an annual increase of about 1.34% accross the board- In most of the areas that I have been w ... more
0 votes Share Flag Wed Feb 2, 2011 Financing in Pittsburgh
Eric Thompson…, Real Estate Pro in Pittsburgh, PA
Eric Thompson - Coldwell Banker - www.EATHOMPSON.com answered:
I'm a low-income, first-time home buyer. I found a gorgeous place for auction at a sheriff's sale in a few months. Do I need an agent to?
You do not need an agent to purchase at the sherrif sale. I have to say that this is a more difficult purchase than most people think. The price advertized in the Post Gazette or onli ... more
0 votes Share Flag Wed Oct 27, 2010 Financing in Pittsburgh
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
Some advice needed on my current situation. Should I act now or wait?
Why not visit with any qualified loan officer(s) first and see exactly what your budget can handle and check that credit score again--your officer may have great tips on how to best imp ... more
0 votes Share Flag Wed Jan 27, 2010 Financing in Pittsburgh
Keane Ng, Real Estate Pro in Seattle, WA
Keane Ng answered:
Urgent! Can anyone give me a checklist to prevent VA cash out refinance VA appraisal issues?
The appraiser will provide a market value based on the size, year and comparative sales.

They are also responsible for deterining any maintenance needed for the property and if the p ... more
0 votes Share Flag Tue Jan 3, 2012 Financing in 15216
John Shellin…, Real Estate Pro in Houston Suburban Hei...
John Shellington answered:
what does it actually mean when someone waives the mortgage contingency.?
Sounds like he has agreed to purchase the property and has put his earnest money at risk in the event the mortgage company has any additional approval requirements. If there were any c ... more
0 votes Share Flag Fri Apr 11, 2014 Financing in 15236
Jeffrey Benn…, Real Estate Pro in Pittsburgh, PA
Jeffrey Bennett answered:
can you get a homes loan with a credit score of 530?
Conventional loans from A lenders generally require 680-720 these days, and a BCD lender would have a tough time with 530. Even if it were possible, the interest rate would have to be s ... more
0 votes Share Flag Wed Oct 7, 2009 Financing in Pittsburgh
Jeffrey Benn…, Real Estate Pro in Pittsburgh, PA
Jeffrey Bennett answered:
Is it easy to get a mortgage for a small amount $27,000 after down payment?
It is tough to get a conventional mortgage under about $40K, secured against the property you're buying. Small loans just aren't cost effective (or even possible in some cases ... more
0 votes Share Flag Tue Sep 1, 2009 Financing in Pittsburgh
Jackie Hamil…, Real Estate Pro in 15241
Jackie Hamilton answered:
I would like to know if there are any Foreign National Lenders that are active in Pennsylvania.
What you are looking to do? Many local lenders here. Are these investors?
0 votes Share Flag Mon Jul 13, 2009 Financing in Pittsburgh
The Somers T…, Real Estate Pro in Temple, PA
The Somers Team answered:
I bought a home that needs total work- refurbish. I have bad credit due to an incurable illness. Need money.
How did you get a loan to purchase the property in the first place ? And didn't you plan ahead for this type of endeavor ? I am not sure who is going to lend you money for that type o ... more
0 votes Share Flag Tue Aug 11, 2009 Financing in 15210
Ken Herrera, Real Estate Pro in Las Vegas, NV
Ken Herrera answered:
i applied for a mortgage today and was told that i have a good credit score but not enough positive credit to
Hello Michael,

Try and get an opinion from a couple different Lenders. There must be more to your story. What is your credit scrore? You mentioned you were told you did not have enou ... more
0 votes Share Flag Thu Jul 9, 2009 Financing in Pittsburgh
Darren Miller, Real Estate Pro in CA (Licenced in 50 S...
Darren Miller answered:
We found a VIlla that we made an offer on. While doing the paperwork, the agent told us to be sure to inform
Gene, I assume that by Villa you mean condo, or condo like with a HOA? Basically the association does not have Fannie/Freddie approval to lend government backed institutional loans in t ... more
0 votes Share Flag Mon Mar 31, 2008 Financing in Pittsburgh, PA
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