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Financing in Roswell : Real Estate Advice

  • All189
  • Local Info25
  • Home Buying63
  • Home Selling9
  • Market Conditions6

Activity 9
Fri Jan 30, 2015
Marc D'Angelo - Lender answered:
You need to see if your Lender offers the possibility of Limited Documentation loans. Our Bank offers Bank Statement loans that require 20% down and very good credit. Give me a call to discuss.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
mdangelo@brandmortgage.com
apply online: mdangelo.brandmortgage.com


50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
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1 vote 9 answers Share Flag
Wed Apr 24, 2013
WSalpeter answered:
Asset Qualifying Mortgage

No Pledging No Age Restriction A+ rating Retirement Assets & 1M Cash Out OK

We can couple assets with other income. This allows you to qualify for a great loan !
If you have any questions please feel free to call or e-mail. I will be happy to do a scenario for you .

WSalpeter@WCSLending.com
... more
0 votes 8 answers Share Flag
Tue Aug 14, 2012
Rodney Mason answered:
Asset based loan programs have never been very common and today is certainly no exception to that. Those programs can be extremly risky for the lender, thus very few lenders would even consider that much of a risk today.

For those few lender who do offer an asset based program, its generally for larger loan amounts. Most are usually in the Jumbo range above $417,000. I have only heard of one that will go as low as $300,000.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
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0 votes 2 answers Share Flag
Sun Jun 5, 2011
William Polack answered:
I'm not a lender but I find lenders for people. I have a company that will go to 95%. This will be an 80/15/5 split where the 80% is the first, 15% is the second and 5% comes from you. The higher the sales price, the lower the total combined loan amount will be, also known as CLTV - combined loan to value. Score and location of property will determine if an additional 5% down will be required (declining market). ... more
0 votes 9 answers Share Flag
Mon Mar 28, 2011
Rudy McDowell answered:
Hi, Priest. So long as your credit and income are solid enough and the required home values are there, it should not matter which option you choose.
0 votes 3 answers Share Flag
Mon Mar 28, 2011
Jason Hall answered:
http://www.trulia.com/blog/rapidrescorecredit/2011/03/rapid_rescore_and_increase_to_your_credit_scores
0 votes 10 answers Share Flag
Tue Oct 5, 2010
Faith Home Loans, Inc answered:
Yes, it's definitely possible!
Most lenders require 2 years from the discharge date. Your credit scores are excellent, minimum needed is 620. You have all the options at your disposal: FHA, VA, USDA, conventional loans. You can borrow no money down if the property is located in an eligible area.

I would love to work with you and get your pre-approved, but we only lend in Florida. So call a local mortgage broker, who will make sure all the numbers work in your favor.

Good Luck!

Andrew Ollick
800-801-6080
contact@fhlmail.com
www.faithhomeloans.com
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0 votes 12 answers Share Flag
Wed Mar 31, 2010
Don Groff answered:
You would need to look into a 203K loan as has been stated. Otherwise the lender will use the purchase price as the apprised value for their calculations. If you do not do anything at the time of purchase you will need to wait a full year in order to "own" that equity in the lenders eyes. So if you want to do repairs now talk with your lender about a 203k option or you will not have access to that equity for a year under most circumstances.

Congratulations on the fantastic deal!
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0 votes 6 answers Share Flag
Thu Jun 18, 2009
Mark Laycock answered:
Every transaction is different. The deal with short sales is this: you are bringing in a third party, the seller's lender. First, your offer must pass the current owners' requirements. You are adding more variables into an already complicated process.

Once you get by the owner, you are going to have to make it interesting for the bank. With all of the trouble that banks have been in lately, they are very cautious and want to make sure they are making the best deal for themselves.

What kind of potential deals are out there? You may want to ask your REALTOR® to crunch some numbers for you. Everyone is looking a deal, but the banks know what homes are selling for also. They will make sure they get a fair price.

How will you be paying for the home yourself? Remember, cash is king! If you need to close quickly, make a better offer. Remember, your agent should be working on your behalf. Offer the best price and terms you can. A fast close may prompt the bank to move faster.

Mark Laycock, REALTOR®
Metro Brokers/GMAC Real Estate
404.843.2500
... more
0 votes 9 answers Share Flag
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