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Financing in Plano : Real Estate Advice

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  • Local Info41
  • Home Buying176
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Activity 22
Tue Feb 21, 2017
Jessica Bateman answered:
You should look into an FHA loan, they require a down payment of just 3.5%. Speak to a couple lenders to find the best rate. Contact The Lenders Network, they can refer you to a few lenders that would be able to help you. ... more
0 votes 9 answers Share Flag
Fri Sep 9, 2016
USMortgageRanger answered:
Mon Nov 16, 2015
Dan Tabit answered:
Maurice,
On an FHA Loan, probably not. I did both Loan Origination and Real Estate for a long time. I stopped in 2012, but FHA was never an option for me.
0 votes 2 answers Share Flag
Fri Jul 17, 2015
Allan Salter answered:
20 and 30 year loans have pretty much the same interest rate while 15 year term is going to be lower rate. With rates so low and not knowing your overall financial situation I would suggest taking a 30 year loan and paying extra on it. You at least have the lower 30 year payment to fall back on should you hit a tight financial patch. ... more
0 votes 17 answers Share Flag
Thu Jul 16, 2015
drink_more-beer answered:
0 votes 4 answers Share Flag
Tue Nov 18, 2014
Phillip Madison answered:
I would suggest speaking to a lender. Pre-qualification is dependent on more then just income level. I work with many lenders if you would like their contact information. After getting pre-approved, I would be happy to assist in finding the home that fits your needs/wants. As a buyer, you get the benefit of having a Realtor with knowledge and experience such as myself, at no cost!
Feel free to call or text anytime!

Phillip Madison
254-212-9186
... more
0 votes 5 answers Share Flag
Mon Apr 14, 2014
Jeanne Feenick answered:
Talk to your lender. It may be even better for you in the long run, but you need to be very clear and complete with your lender. Otherwise, the details may well get in your way later.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
... more
1 vote 12 answers Share Flag
Fri May 17, 2013
T.E. & Naima Sumner answered:
ABA (Affiliated Business Arrangement) disclosure should be used in connection with a real estate transaction.

Texas Department of Insurance regulations also apply to the insurance producer and limits the amount of any fees.

So, both RESPA and TDI apply.
... more
0 votes 1 answer Share Flag
Wed May 1, 2013
John Hamidi answered:
Dear BRUCE

If you need help let me know i might be able to help

I have few qualified mortgage companies working with

Their information is linked to my website


Please go to

http://www.johnhamidi.kwrealty.com

and send me your email ,



my service is free for you , I get my commission from seller

so please do not hesitate to contact me at 469-252-4661

or send me an email : johnhamidi@kw.com
Good luck to you in you future Journey


Thanks
... more
0 votes 9 answers Share Flag
Wed May 1, 2013
John Hamidi answered:
Dear Diyuehua

please contact my loan office Terri Howell at 817-521-5030

she is very good and can help you out


Please go to

http://www.johnhamidi.kwrealty.com


and send me your email ,



my service is free for you , I get my commission from seller

so please do not hesitate to contact me at 469-252-4661

or send me an email : johnhamidi@kw.com

Thanks
... more
0 votes 6 answers Share Flag
Wed May 1, 2013
John Hamidi answered:
Dear Vernete

If you need help let me know i might be able to help

I have few qualified mortgage companies working with

Their information is linked to my website


Please go to

http://www.johnhamidi.kwrealty.com

and send me your email ,



my service is free for you , I get my commission from seller

so please do not hesitate to contact me at 469-252-4661

or send me an email : johnhamidi@kw.com
Good luck to you in you future Journey


Thanks
... more
0 votes 4 answers Share Flag
Fri Mar 22, 2013
Kenneth "Kenny" Bebensee answered:
Contact any lender of your choice to get pre qualified usually for free, then pick any 1 Realtor here to assist you in your search.
0 votes 5 answers Share Flag
Wed Feb 20, 2013
Melissa Hailey answered:
Landon,
Your questions seems as though the guest house is on the same lot as the primary home. If this is the case, and you have the available equity in it, then you should be able to do it. Your best bet is to speak with a mortgage professional about the specifics on the loans available for you.

I would recommend contacting:
Herb Zeiv at Bank of Texas at 972-381-2462
or
Mark Pfeiffer at Viewpoint Mortgage at 972-792-4294

They are both here locally in the Plano/Dallas area. They are both great professionals that will be able to assist you with all of your questions.

Good luck!
Melissa

Melissa Hailey - North Texas Top Team, Realtors
Coldwell Banker Jane Henry Realtors
214-418-0180
Melissa.Hailey@ColdwellBanker.com

http://www.linkedin.com/in/melissahaileyrealtor
http://twitter.com/#!/melissahailey
http://activerain.com/blogs/mlshailey
... more
0 votes 5 answers Share Flag
Wed Feb 20, 2013
Michael Brownstead answered:
Hello Lisa,

I would suggest searching for related groups at www.linkedin.com or http://www.meetup.com/find/. If you need further assistance, please feel free to contact me.

www.BrownsteadRealEstateGroupDFW.com

Mike Brownstead, GRI
Realtor®
Ebby Halliday Realtors®
... more
0 votes 4 answers Share Flag
Fri Nov 25, 2011
T.E. & Naima Sumner answered:
Since appraisers are independent of buyer, seller and lender, it is difficult to control them. The lender is often forced by HVCC to use appraisers that simply are not as familiar as appraisers had been under the old system. We see similar problems all over after the adoption of the NY approach to appraisal.

Not only do appraisal cost a lot more now, they are frequently slow to be done and often shockingly low.

Depending on what your agreement with the lender is, it is not for sure what can be done, but recovery of the appraisal fee is unlikely. Even an appraisal review (that would cost you even more money) would not guarantee that the appraisal would be changed. Sometimes the easier approach is to work something out with the seller when the appraisal is low, but on a refinance you're stuck.
... more
0 votes 4 answers Share Flag
Wed Oct 26, 2011
Trevor Curran answered:
Good morning Nomi4hire,

I am sorry to report that financing would not be available for you as of yet.

To qualify for mortgage financing after bankruptcy you would have to wait a minimum of 2 years after the DISCHARGE date (not filing date). You must also re-establish and maintain a good credit history in the interim. If you meet both those conditions (and your credit score has increased over 620) then you should be qualified for FHA Insured Mortgage Financing. For other types of financing---Conventional---you would have to wait 4 years after the bankruptcy discharge.

I would strongly recommend you make your rent payments on time every month and be sure to pay your landlord by CHECK (not cash or money order) as it is very likely that the Underwriter in your future will ask for proof that you have paid your rent on time (FHA puts a lot of weight on "respect for housing payment history").

To get back on your feet credit wise, I'd recommend the good folks at Consumer Action, an excellent not for profit credit education organization: http://www.consumer-action.org/

Trevor Curran NMLS #40140
... more
0 votes 10 answers Share Flag
Mon Mar 28, 2011
Dallas Texas answered:
Loan deals for teachers are usual specific areas in DFW where the cities are trying to re-establish those areas offer programs for teachers, police officers and etc.

If you preference not be in these prerferred areas then you would need to apply for a loan via a mortgage broker who will have you complete loan applications process.

Once you are qualified by a lender a Realtor can assist you with your search

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
... more
0 votes 11 answers Share Flag
Tue Jul 13, 2010
Ron Perry answered:
You've recieved expert advice from the earlier respondents---call an attorney but make sure it's a real estate attorney in the state where the property is located. If the property is in Texas I'd highly recommend David Fair or Brian Watts with Hexter-Fair Title in Dallas. Other wise, I'd recommend you get a referral for expert advice from a real estate attorney in the appropriate state. ... more
0 votes 5 answers Share Flag
Thu Jun 3, 2010
Ronda Allen answered:
Is the current owner a veteran? Texas Veterans have access to low fee, low rate home improvement loans. It doesn't hurt to ask. They may not even know they can get such a loan through the Texas Veterans Land Board.

There are limits on FHA203k. If the foundation is a factor on why it doesn't qualify to go FHA, then get a foundation company out there to quote the job and discuss options with the owner. If this is a distressed property with no owner present, then you may be better off just getting a contractor in to quote the work that needs to be done and taking the house under a conventional loan product, as-is, where-is.

No matter which way you go on the loan, be sure to work with local lenders who do local processing and local underwriting. We're still closing homes in 10-30 days here in DFW if the loan stays in our area from start to finish.

Have a blessed day!
Ronda
... more
0 votes 6 answers Share Flag
Sun Mar 14, 2010
Dianne Hicks answered:
What Now
Very happy that things are looking better for you. I also say sit down with a lender or financial advisor to see what you credit is and begin rebuilding. Yes, in 3 years you should be able to but again but you will really need your credit to be strong. So I suggest for you to focus on that and saving so when the 3 years comes around, you will be in the position you want... to buy a home.

I wish you the best!!!
... more
0 votes 8 answers Share Flag
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