Zimmerman : Questions & Answers

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Lenny Frolov, Real Estate Pro in Minneapolis, MN
Lenny Frolov answered:
I had foreclosure back in May 2012. trying to refinance my primary home. I have 70 percent equity in it. Appraised from a few months ago.
You say you have 70% equity, does this mean that your loan on the home adds up to 30% of the value or are you saying your loan balance is 70% of the value of the home? If your balance i ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in Zimmerman
Chris Block, Real Estate Pro in Saint Paul, MN
Chris Block answered:
can my spouse and I get prequalified for a loan if both our credit scores are aroud 577?
No you really need to be around 640 right now to qualify for FHA financing. Even VA needs to be around 620, and conventional would be the wrong route.

What you can do is find a loan ... more
0 votes Share Flag Tue Apr 16, 2013 Home Buying in Zimmerman
Donald James, Real Estate Pro in Edina, MN
Donald James answered:
CAN I BUY A HOME ON SECTION 8?
The short answer is yes, you can. Some counties may have down payment assistance available as well. You will need adequate income to make mortgage payments, and a decent credit score. ... more
0 votes Share Flag Tue Jun 26, 2012 Home Buying in Zimmerman
Dobie, Home Buyer in Elk River, MN
Dobie asked:
I own some land and am going to build a house, mostly with cash but will be about 25,000 short to finish it. Can't get a loan. Can't get a loan-foreclosure on credit-any creative ideas to get a small loan??
0 votes Share Flag Tue Jan 31, 2012 Financing in 55398
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
What's a reasonable price/square foot for a small year-round cabin on a small lake? PricesI've seen range from about $50/foot - almost
BartandScotty,
Price per square foot is not a reliable means of determining value when there are so many other variables. As you look at more cabins, in different conditions and loca ... more
0 votes Share Flag Tue Sep 13, 2011 Home Buying in Zimmerman
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