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Financing : Nationwide Real Estate Advice

  • All692K
  • Local Info58K
  • Home Buying254K
  • Home Selling41K
  • Market Conditions26K

Activity 20,630
Tue Dec 13, 2016
Lisa_berkel answered:
We are looking for 3 bed 2 bath lease to own property in fishers in. Please email information to lisa_berkel@yahoo.com
0 votes 8 answers Share Flag
Tue Dec 13, 2016
Whitedove772002 answered:
I'm looking to reinance my house at a fixed rate for 15 years if you can't help me call 304 651 9656 please thank you
0 votes 51 answers Share Flag
Mon Dec 12, 2016
Aaron Whitney answered:
IBC Mortgage offers non-warrantable condo loans up to 90% loan-to-value for owner and secondary occupancies.

Good luck!

Aaron Whitney
NMLS 1070615
512-740-0148
aaronwhitney@ibc.com ... more
0 votes 18 answers Share Flag
Sat Dec 10, 2016
Kathy Burgreen answered:
Are you working with a realtor that is not part of the development? Or are you working with the sales agent on site.

I asked because the $40K that you spent in upgrades should be $0 and the $50K that you spent for the pool should be $25K. You already overpaid for the house that is being built and now you just overpaid even more!

Unfortunately you failed to learn a very harsh lesson with new construction. Builders know very well that buyers LOVE new construction and their contracts are not the same as standard contracts that are used in regular real estate transactions. Builder contracts are written by lawyers to give favorable terms to builders and less favorable terms for buyers. Also builders need profits and sell new construction at higher prices than necessary to ensure they make money. In return, most builders will negotiate and give discounts on upgrades, pools, etc. because those items don't affect their bottom line. This is why you should have received the upgrades for free.

The worst part is as soon as you move in, your brand new home won't be considered new anymore and if you need to sell within the next 5 years, you will take a loss because your home will be compared to similar homes that are 5 - 10 years old. I strongly advise you to see what similar homes (not brand new construction) have sold for within the past 6 months.
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0 votes 1 answer Share Flag
Fri Dec 9, 2016
Jmullally asked:
My bank will only accept it as a deposit, which I don't want to do.
0 votes 0 Answers Share Flag
Fri Dec 9, 2016
Priscilla Allen answered:
Yes, you can get a mortage. First things first, talk to a lender and see exactly what you and your wife can qualify for in a FHA loan. Once you know what you can do, then call me......I will find you a home within your qualifications!

Make this a great day,
Priscilla
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0 votes 6 answers Share Flag
Fri Dec 9, 2016
Isaiah Y. answered:
Try contacting Home Loans For All. We've sent quite a few clients to them and they've been great. You can reach them at (888) 540-0280. Hope this helps!

Best of luck!
1 vote 6 answers Share Flag
Fri Dec 9, 2016
Nick Brous answered:
First off, what no one ever explains until pressed is that your credit score varies considerably depending on the lending institution. I'm not talking about Transunion vs Equifax scores, etc, I'm saying that every bank has there own scoring system. So with Chase your credit score might be 650, and Wells Fargo it might be 610. It can vary as much as 100 points. Also, if they use FICO scores at all, which version of FICO are they using? I think there are 10 versions.

Also, do not trust the scores provided from these monthly credit monitoring services, they are not FICO scores and are complete fiction. According to Score Tracker, my credit score is 672; according to Wells Fargo at that same time, it was 585. No joke. I suggest not using these services at all, they are a scam in that they provide less information than what a bank sees and tend to create a a rosy picture of your credit that is not altogether accurate to entice you to sign up for their monthly service. If you need a service or some credit repair assistance and monitoring, I recommend Lexington Law. They are the market leader and get results because they persist and persist and don't give up.

My recommendation is to not worry about your credit score because you'll spin yourself into a tailwind trying to figure out who is using what. Your focus should be on cleaning up any negative items on your credit report. Period. Once that's done, your score will be fine. Also, suggest shopping around until you find a mortgage broker you like and who is willing to guide you through the process. That way you have someone in your corner who is working with you to get you approved for the best rate possible, given your circumstances.

Hope this helps and best wishes to you.
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0 votes 90 answers Share Flag
Fri Dec 9, 2016
Jimmy Jung answered:
Give Home Loans For All a call. They do quite a few VA loans. Their number is 1-888-540-0280
6 votes 24 answers Share Flag
Fri Dec 9, 2016
Kathy Burgreen answered:
Investors don't invest in new licensed realtors because the statistics prove that most new realtors quit during the first 2 years and investors will lose money.

Most new realtors either use the income from their full time job, their savings or they borrow money from family.

If you don't have available cash, a part time or full time job or able to borrow from family - then you need to quit. You need to understand you are now self employed and you need your own cash to invest in your own business. This is why it's common knowledge that a real estate career is very expensive and you don't make as much money as you think.
... more
0 votes 3 answers Share Flag
Fri Dec 9, 2016
Cherry Tree asked:
In other states I lived,I had to provide my paystubs, tax returns, W2's etc plus they looked at my credit report BEFORE handing me a pre-approval.
In Nj it seems,mortgage brokers ask for…
0 votes 0 Answers Share Flag
Thu Dec 8, 2016
Sheryl Arndt answered:
Hello Kedypn, yes your property taxes will remain the same. You will need to gather some documentation to qualify the house and yourself. Do you want any cash out or are you looking to refinance the rate and term?

A CMA, comparable market analysis, can be run to determine a market value for a start if you want cash out. A complete appraisal is needed to fund a refinance with cash out.

Do you know your fico scores? Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and LTV. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

Jumbo refinance is available from a minimum 540 fico score depending on the LTV.

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
24+ Years Experience
BRE# 01140252
NMLS# 297251
... more
0 votes 3 answers Share Flag
Thu Dec 8, 2016
Christopher Gately answered:
Already have the home and need to do a MAJOR repair? There is a refinancing product for that. Its called FHA 203k. If the repair is less than 35k you can probably do the 203k Streamline.

Another good idea is HELOC (Home Equity Line Of Credit). Your current loan servicer should be able to help you out with that.
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0 votes 6 answers Share Flag
Thu Dec 8, 2016
CC answered:
Easy personal loan with land as added security. Rates for those with excellent credit are about 6% and crap credit are 15%. If you do not have 30% down forget it
0 votes 3 answers Share Flag
Wed Dec 7, 2016
Scottrndll asked:
Ive lived in my mobile home for three years. I have an opportunity to buy it for $50,000. I have excelent references but a 590 credit score. Does anyone have any ideas?
0 votes 0 Answers Share Flag
Wed Dec 7, 2016
Danielledierking asked:
Went through a separation and had to refinance home in return for giving my ex $$. Appraisal was done in May. Had to wait to have the judge actually sign the Judgement in September.

I…
0 votes 0 Answers Share Flag
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