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All Locations : Nationwide Real Estate Advice

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  • Home Buying254K
  • Home Selling41K
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Activity 477,874
Bernard G., Home Buyer in Seattle, WA
A moment ago
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
0 votes 1 answer Share Flag
Cindy Kern, Home Buyer in Homestead, PA
A moment ago
Cindy Kern asked:
Malcolm Laws…, Real Estate Pro in Annapolis, MD
A moment ago
Malcolm Lawson answered:
So you are looking for an investment property with two units you can rent? Are you looking in Baltimore or another area?
0 votes 1 answer Share Flag
Babycoralxo, Home Buyer in Sandy, UT
A few minutes ago
Babycoralxo asked:
Caribbean.ji…, Home Buyer in Jacksonville, FL
A few minutes ago
Caribbean.jibaro asked:
I am NACA approved for house shopping and looking for someone who works this area.
0 votes 0 Answers Share Flag
Maricris A, Other/Just Looking in Seattle, WA
A few minutes ago
Maricris A answered:
Hello,

I have emailed you regarding this concern.

Regards,

Maricris
Consumer Care Advocate
0 votes 1 answer Share Flag
RP, Home Buyer in San Francisco, CA
A few minutes ago
RP asked:
Asking price is at $637/sq ft, medical facility, tenants to continue, paying rent about $4.40/sq ft/month. Cap rate 2.5, is this a good buy?
0 votes 0 Answers Share Flag
Helen Santana, Home Buyer in Teaneck, NJ
A few minutes ago
Helen Santana answered:
the success of the Naca program relies on you. its an amazing program and i would have been able to afford a house with a traditional loan. the program took me about a year from start to finish only because i had to wait about 6 months to clear up some issues on my credit report. i had cosigned on a mortgage for my dad and he defaulted on it, he eventually sold the house but i had to wait a year after that before i could start the Naca process because you can not have any late payments for a year on your credit report in order to get approved. i also had a car repo on my report and i had to write letters to the creditors to settle that debt, so I went to a seminar back in September 2015, i then scheduled my first intake appointment in April 2016 to give me time to get my credit report in order. i was very organized and uploaded all required documents to my Naca File and i also brought in a hard copy of everything to the appointment in case some things did not load properly. make sure to create a Naca folder on your computer so that you can save an electronic copy of everything and also print everything and bring it to your appointments. this is important because their system is very slow and some files dont show up. i had to wait 2 hours to be seen and my appointment took 2 hours to complete, they purposely schedule your qualification appt 3 months after your intake so that you have time to save money for your payment shock to prove that you can afford a mortgage. so my next appointment was in july. please note you have to volunteer twice before being approved. so i volunteered at a seminar seating people and then at the office filing paperwork. also the fee is annual, i think it was $25 or $35. there is no monthly fee and the mortgage company pays your fee once you are approved. be sure to check your file daily and upload anything that is require of you. i used the app "genuis scan" to upload and email all files to myself, it was a life saver and i used it daily.

my qualification appointment was in July and usually they said it takes at least 2 appointments to get qualified, but since i was so organized and provided everything they asked for, i was able to get qualified in one day. you then have to come back that same week for a home buyers seminar after you get qualified, and then you can start the home buying process. once you get qualified you can start looking for houses. i had my own realtor and then i chose a lawyer and contractor from the naca approved list.

once you get qualified you have 3 months to find a home, otherwise you need to go back and get re qualified. i knew what i wanted so i was able to find a house in a month. i made an offer mid august and by the end of august i was under contract. they have a 28 day to close checklist. i followed it to the tee and was able to given a closing date of 30 days. it was delayed a week due to the seller not getting the smoke inspection done in time. no fault of Naca. i was able to close on 10/7/16, so i contract to close too less than 45 days. the closing lawyer was amazed at how fast my closing was. so it all goes to show you, if you are organized and have all your ducks in row and provide everything that is asked of you in a timely manner, then you will have no issues. but it does take time and patience to get you through the process. there were times that i cried myself to sleep out of frustration, but it was all worth it.

my house was on sale for 330K, i negotiated down to 305K, then i had borrowed an additional $13K for repairs for a mortgage of $318k that was financed 100%. the rate was 3.75 but i was able to buy my rate down to 1.25% for $21K. this saved me $400 a month on my mortgage payment and will save me $150K over time if i keep the house for 30 years.

they do pay your closing costs, but you have to prepay your taxes, insurance and interest , plus title fees, so that was an extra $4k, so i put down a total of $26K.

where else can you get deal like this. im glad i stuck with the program and i tell everyone thats willing to listen about it.

you do have to volunteer 5 times a year for an hour or 2 each time, but thats a small price to pay compared to the savings you received,
... more
0 votes 70 answers Share Flag
Deborah Reed, Real Estate Pro in Philadelphia, PA
A few minutes ago
Deborah Reed answered:
Calling a local real estate company is a suggestion. But above all, research property management companies, they are great and have lots of experience in dealing with rental properties. I hope my suggestion is a great help to you. Happy hunting!!! ... more
0 votes 2 answers Share Flag
Ruthjanelove, Home Buyer in Southfield, MI
A few hours ago
Ruthjanelove answered:
I single parent i make enough money to pay mortgage but score is low need assistance with down payment have some minor problems with credit.
0 votes 36 answers Share Flag
Patdinon, Home Buyer in Tacoma, WA
A few hours ago
Patdinon asked:
Also is there a way to expand the size of the map when using your site. One more thing, pics are often blurry or not available when they are clear and available on the other sites.
0 votes 0 Answers Share Flag
John Burke, Real Estate Pro in Austin, TX
A few hours ago
John Burke answered:
Hi Rhshedevil013,

We need a little more information in order to answer your question.

Are you saying you need to bring $5,500 to closing after the 6% seller assist? If the answer is yes then I would agree with you, the closing costs are too high.

Your down payment will be $3,045 so it "looks" like your closing costs are $5,500 - the down payment of $3,045 =$2,455 + the seller assist of 6% (or $5,220) =$7,675 in closing costs. That's way too high for a purchase price of $87,000.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
jburke@gpbankTX.net
Apply Online: https://secure.smartapp1003.com/102471/?loanofficerid=106115
(877)228-9069
NMLS# 787231
http://www.trulia.com/mortgage-lender-profile/MTG%20Banker/#reviews
... more
0 votes 1 answer Share Flag
Angelica P, Home Buyer in Seattle, WA
A few hours ago
Angelica P answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Bpedraza1955, Home Seller in Robertsdale, AL
A few hours ago
Bpedraza1955 asked:
18395 W. Hammond St. Robertsdale,AL
0 votes 0 Answers Share Flag
Angelica P, Home Buyer in Seattle, WA
A few hours ago
Angelica P answered:
Hi,

I have emailed you regarding this concern.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
0 votes 1 answer Share Flag
Cocowilliams…, Home Buyer in Charlotte, NC
A few hours ago
Cocowilliams902 answered:
Hey I'm looking for a 4 bedroom 2 bath house for section 8...
0 votes 65 answers Share Flag
Devica Brooks, Home Seller in Tampa, FL
A few hours ago
Devica Brooks asked:
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