Financing—questions & answers, advice and opinions page 106

know any private lenders or private financers?
we are ready to buy a home we found for VERY cheap but we cannot get a loan because of our credit.....it seems the only option is getting a loan through a private financer,private lender or private investor,…
Finance for foreign investors???
I am living in Australia and looking to buy houses in us for investment. Currently looking in Atlanta. Could someone let me know financing opportuintyfor foreign investors? I am thinking to buy a house…
I'm trying to refinance a rental at 80% LTV... but my current lender wants 75%. Is there a place I can go to get 80%?
My rentals are just above 80% right now. I can get them both down to 80 and pay closing costs, but don't have enough money to get them down to 75%
Are there any down payment assistance programs in Lynchburg City?
Are there any grants or other programs that will assist a buyer with the down payment on the purchase of a home in the city of Lynchburg? I know sellers can not assist any longer with down payments for…
I have been prequalified for a loan but seem not to find any homes to meet my family needs at that amount preapproved. My husband income will allow
me to qualify for more but his credit & prior foreclosure history wont allow us to use his income. Is there anyway we can use his income & not his credit so i can get a larger loan.
FELLOW INVESTORS: Please share your thoughts
I am a budding real-estate investor. My business plan calls for a. 14-20% cash-on-cash return per property b. 20% down at less than 5% interest rate (for 30 years) c. Buy a total of 10 properties d.…
Can someone help me get a list of lenders that will help me get a FHA loan with a credit score of 616 Please?.?
Can someone help me get a list of lenders that will help me get a FHA loan with a credit score of 616 Please?. I have been working on my credit, but it seems like its not working and i am only 4 points…
I was self employed, but am now W2 for this year. Although my first W2 won't come until end of 2011. i have paychecks, etc. Can I do FHA?
My 2010 taxes reflect self employement and show everything written off with low income. My current paychecks show great income and YTD taxes paid, but because I don't have a W2 in hand yet, I am curious…
If a home is auctioned off does this mean it has a clear deed?
A guy is selling a home he says he got on an auction. He will not go through a title company, only wants cash. It sounds fishy...My lawyer says there are Red flags every where/. In order to auction off…
I am interested in buying 2 acres (power, well, & driveway are in) in Estacada. Are banks even doing land loans?
If loans are available, how much is required for a down payment? From what I've read online it gives me the impression that IF you can get a loan, 30-50% down payment is required. Is this a fact?…
203k streamline in Philadelphia
Hi, I have a current FHA mortgage, plus a second mortgage. Looking to do about 30k in renovations. It seems like a 203k streamline loan can deal with the refnaince and renovations -- but can we roll…
are there any mortgage brokers on here who will work will a 600 score on a FHA on a fannie may owned home?
i have found a fannie may owned home and my credit is around 600-620 i am looking to get pre approved so i can put a contract on it.. any mortgage pros who are willing to help?
Are there any investors out there that would buy a home I'm looking at living in & lease back to me for 24 months in Nebraska?
I have very good income & $$ to put down towards a house in Nebraska. Just some bad credit decisions from the future EX wife. Looking at a $250K house with $12,500 cash down & a monthly payment…
Please help! Going to be moving from Texas to Nampa area around April. My credit score might be an issue. More details within post. Thanks in advance!
I currently have a credit score of about 550. I am really concerned that there is no way I will be able to purchase a home. I am looking for a home loan in the range of $80,000 to $120,000 based on the…
Can I refinance my home that I purchased in 2009, if the current value is less than what i owe on my motrgage?
I have an FHA loan, put 3% down, always pay my mortgage and other bills on time. Credit rating was very good at time of purchase. Interest rate is 5.125 % on a 30 year fixed mortgage.
I want to refinance, but my neighbor just foreclosed...will this affect my appraisal?
We are looking to refinance our home. Bad news is, a few doors down, a very similar house just foreclosed for $611k (it's back on the market as a flip for $728k). The only difference is lot size and…
Would a lender finance a new mtg if I already have one? Current d/i ratio is about 31%. Would lender allow rental of hse w/1st mtg to lower d/i ratio?
Both mtg's would set my d/i ratio at about 31%. With rental, my d/i ratio would be about 25%. Credit score average is 747...
if the repairs exceed the 30 K can you escrow your own added funds to do the repairs rehab amount aprox 50K sale price 94K completed value 250 K
This is a vintage Historcal registered home needs new roof complete repaced 25 K, foundation 10K other needed work 10 K -15 K plus some cosmetics buyer plans on doing what they are allowed to do and using…
How do I get a mortgage to buy US property, as a non US Citizen living in Australia?
Hi, we are looking at buying a property in Calhoun GA and want to find someone that can help us get a mortgage. We live in Australia and will have around 20 to 25 % deposit.
Whats the best way to expedite the sale of your home in order to take advantage of a home for sale, held by bank. No contingency allowed.
Is it possible in this market to get approved for a new mortgage in that situation? Income is solid ($150k, 13 yrs )with company without including my husbands self employment income. My credit is fair…
Do banks renegotiate rates on existing loans in lieu of refinancing?
I would like to reduce the rate on my current mortgage from 7% to what is available today. I would prefer to do this by renegotiating with my current bank. However if banks don't do this, I will…
What direct bank will finance the 5th property?
I have 4 properties, and three of them investment and one owner occupied. I am buying the fifth one, do you know who will finance it? prefer direct bank. I heard Flag Star bank does, but I called and no…
how much down payment ona fh a jumbo loan?
How much is rquired for downpayment on an fha jumbo mortgage of appx 468k?
If your two from closeing ,bought from bank auction .9000.need to close in 30 days.two weeks away you get laid off .fha loan you qualify.you have
rental income that pays three quarters of the loan.motgage 1100. will the bank work with you or do they tell you and your family to hit the highway.the payment to me isnt a problem.will I still get to…
Is a seperation agreement including a provision for mortgage payments only by the borrower remove loan debt consideration for loan for co-borrower?
seperation agreement: mortgage payment stiputaled to be made soley by borrower (husband) on time and in full will this debt be considered on the co-borrower's loan appilication
The buyers of our home have applied for a FHA loan through OHFA. How long does it typically take to get a loan commitment on these products?
We signed the purchase agreement on 7/8. They applied for the loan the following week. The home inspection was done 7/13, and appraisal completed 7/19. We received, signed and submitted the OHFA builder/seller…
I am looking at a REO home which the prior owner took all the appliances (Oven included) and all of the convien outlets. Any loan reccomends?
We have great credit and own other homes which we are renting. We can put 10% down on the new home or if we can finance with 5% down and we can pay for the repairs out of pocket. But our realestate agent…
can i get financed with fha ?
hi all, i want to know if its possible for me to get an fha loan the only bad thing on my report credit report is a auto repo from 2009 here are the details Account History: Charge Off as of Jan 2011,…
We have enough cash for a 10% downpayment but it will wipe out our savings. A family member has agreed to make the downpayment. What's the best
way? We are very young and this would be our first home. We have a high amount of debt (most student loan, some credit card). We both have a good FICO score which would put us in about the middle tier…
looking for mortgage broker
Does anyone know an experienced mortgage broker who do hard money lending in San Antonio/Austin?
Need investor financing for home with foundation work needed.
Investor has great credit, 20% down, reserves for repairs, purchase price 80K, $3500 foundation, ARV $125,000. Any regular financing for these properties? Even all my go to lenders are now saying no…
Options for financing
Hi, I have a contract to buy a investment property. The property has some cosmetic issues currently there are no carpets/floors in first and second floor. I was just informed that mortgage was denied…
Is there a max cost for any escrow ?
I'm looking into buying a brand new house in Aliso Viejo. The closing cost is about $20K. Why is it so high? Does it cost more for new construction than for used house? My friend just bought an old…
How do you figure out the property tax for apt complexes in union city (non owner occupied)?
I know the property tax rate for Union City is 5.930--but i believe that by statute if a house has more than 4 units it is no longer considered "residential" for tax purposes. So does that mean…
Any advice on purchasing a HUd forclosure for 55,800 with a high score of 582. VERRY low down payment if any. HELP
The home is on a solid foundation, and is PERFECT for our family. We have never purchased a home before, and we have no clue as to the steps to take or the right people to talk to. Any help or advice would…
Multi Family 5 units Financing
Hi All, I would like to purchase a 5 units property and not sure how to go about financing ( or if it’s even possible for me ) given my scenario bellow What I would like : To ideally purchase…
Purchased house frm parents in 07 for $450,000 and are paying them. Want to refinance w/bank. They are ok w/ loan forgiveness. Will we be taxed?
Parents are willing to do a loan forgiveness for refinancing @ 80% of the new value. Property value is now 280,000. Will we be taxed on the negative equity? Do we see a tax specialist?
Hi, I'm looking for a lender that can finance a bank owned condo that has a negative budget.
The borrower will be borrowing 170k, using the first time home buyer program, putting down about 8.5% that will be a gift, with a median credit score of 666.
How to finance a doublewide mobile home, on leased land, in a park with 25% down BUT for 30 years?
I have some clients looking to purchase a doublewide mobile home in a park. She has 25% to put down. Does anyone know a mortgage broker who can finance this for 30 years?
My wife and I want to buy a house that is about 3hrs away from where we work. Would we qualify for an FHA living that far from work? Limit on comut?
My wife and I both work 3 days a week, Sunday-Tuesday. We currently rent a small house in that area for a very small price. We have always wanted to live in a particualr area that is about 3hrs from where…
What would you do regarding investment property? Borrow from 401k or use personal funds?
I know all the "negatives" of borrowing from a 401k, so I'm hoping for your opinion based purely off the numbers below. I'm buying a $170,000 Investment property. $34k down payment,…
My buyers home appraised low as a distressed property was used. Other than providing different comps to the lender/underwriter what can they do?
The appraiser also chose not to use a similar house down the street that recently sold as it was a cash offer??? My house appraised fine. LUCKILY my appraiser chose NOT to use distressed properties, which…
Our loan modification with Citibank is taking over 1 year to complete, all paperwork is accepted & in underwriting, why is it taking so long?
We were told our loan was going to close in May, then June, then we were told July, we call every day, but no one has any information, we have spoken to over 80 different people in the course of a year.…
is it ok if my co-signer has an ITIN number with good credit?
I'm a legal US resident and I need a co-signer because of my income. I do not make enought to borrow what i need and need someone with a good income to be able to qualigy for more. Would i be able…
Bankruptcy Chapter 13 being withdrawn, selling my house short sale, credit score 633, can i get a new mortgage?
I currently in chapter 13, but the trustee payments has ballooned to 1500 per month, so with my mortgage and all, it just makes my house unaffordable. So, I have decided to short sale my house. I am now…
Is this refinancing company real? H&R Funding LLC, NJ
I'm unable to find any information about them on web. I received a mail stating that Final Notice: Fannie mae / Freddie Mac Official Notice: National Home Affordability Program - Eligible Official…
Can an associate broker do the paperwork for a lease option or do they need to get a leasing firm involved in the transaction?
Associate Broker advised me to consider a lease option when a sale did not work out. First she told me that her fee was $1000 to do the lease. Now she tells me to pay her a $1000 fee to cancel my contract…
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