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Financing in Spring Hill : Real Estate Advice

  • All394
  • Local Info26
  • Home Buying137
  • Home Selling10
  • Market Conditions15

Activity 13
Thu Aug 25, 2016
Cardona.joey asked:
I have a credit score down in the low to 600's steady employment with Ford, husband was an Independent Agent "insurance". My question is we are placing our home for sell in…
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Wed Jun 29, 2016
Justomurray1012 answered:
I'm not from New York, NY by the way. Don't know why that is in their.
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Mon Nov 10, 2014
Scott Godzyk answered:
Even here in NH where the market is strong, prices are on the rise we have appraisal issues and most are appraisers coming in from out of area, some even from out of state (MA). The way appraisers are no chosen is the problem. ... more
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Tue May 13, 2014
Brian Nguyen answered:
It seems that your scores in your range should work. Lenders like myself can go as low as 580 when it comes to credit scores. Of course, your other finances will need to be in place as well including your income, debt, assets, employment, expenses, etc. The best thing for you to do is to speak with a knowledgeable lender like myself to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
... more
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Thu Dec 5, 2013
Robert Baker answered:
Sun Apr 14, 2013
Chris Suarez answered:
Are there any late payments on the current mortgage?
Do you know what you credit score is?
Has someone given you a value of what they think the house is worth?

In regards to the Tax Benefit that they need, can you give more info?

You can email me directly

Chris Suarez
... more
0 votes 3 answers Share Flag
Sun Apr 14, 2013
Chris Suarez answered:
You will really need to have 2 years tax returns showing self employment. There are some instances where it may be possible. Depends on credit scores, debt ratios, etc.

Give me a call if you would like to see if we can help you.

... more
0 votes 1 answer Share Flag
Mon Aug 20, 2012
Tina and Steve Fingerman answered:
It's always a good idea to get a pre-approval before starting to seek out any properties. In fact, any experienced for professional agent will insist on this prior to taking out a client to look for homes. While your timeline may be a little further out than a typical pre-approval will take you, having that portion of it done this early will give you plenty of lead time in case there are any issues that may need to be addressed prior to your home purchase.

Also, since you have the extra time, you can take advantage of it by laying out best srategies to maximize some savings on your mortgage and putting together a Financial Mortgage Plan that will best suite your needs rather than a banks. An experienced and trained Mortgage Professional can help you acomplish this given the amount of time you have. Most pre-approvals are good for between 60-90 days, but there are some that can be extended as long as 120 days under certain conditions. Extended approvals are usefull if you are looking at building a new home.

Hope this helps, if you need any other info feel free to reach out to us any time.

Steve Fingerman
E Loans Mortgage

Personal NMLS # 276682
Corp NMLS # 856640

Cell 727-946-0904
Office 352-688-7949
... more
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Mon Feb 27, 2012
Gerard Carney answered:
You need basic homeowners insurance especially if financing any part of the home, you need Hurricane, Sink Hole, and Flood insurance if you want to be fully covered in this state. Please remember that if a hurricane comes through and the wind does not damage the home but the area floods, that floods from the hurricane are not covered under the hurricane coverage, Sink Hole coverage is advised for all of Central Florida but is optional! ... more
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Tue Nov 1, 2011
Marc White answered:
Several answers provided are giving you great guidance. Seek out an attorney in Florida that can help you with this situation. It does not sound very promising, other than filing a complaint. And, it seems that you did not lose everything, but just the house you were trying to purchase. You can work towards purchasing another one. I am sorry for your setback, and hope that things get better for you. ... more
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Sun Feb 27, 2011
John Arendsen answered:
I'm way late for this one but it just popped up on my radar so here goes anyway.

I have a great dealer in your area that would love to work with you.

Please feel free to log onto our Trulia or Active Rain blog for more comprehensive information about the MH Industry.

Or you can check our our website and give us a call or drop us an email. We are RE Brokers, Manufactured Home Dealers and licensed, bonded and insured General Contractors and have been actively engaged in the MH Industry statewide for almost 3 decades.

We also do "Lonnie Deals"
Web Reference:
... more
0 votes 5 answers Share Flag
Wed Feb 9, 2011
Julie Pearce answered:
Great question, Ron! I always advise my buyers to shop for their financing before they start shopping for a home, and it sounds like you're doing that. You need to ask lots of lenders lots of questions so you can compare apples to apples and make sure you are getting what is important to you in a lender. This differs from one person to the next. I always like it better when a buyer stays local, or deals with a local branch if they decide to go with a national lender. It's easier to stay on top of things when I can go park myself at the loan officer's desk and ask questions face to face. And, like Joanne said, they know our market, etc., and they know us! It's nice to know who you are dealing with... When you start talking to lenders, make sure you're asking them all the same questions, so you can compare them fairly. Asking for a good faith estimate from each is a good way to get all the same information from them, and makes for easy comparison. Here are a few questions to get you started!

Can I qualify for USDA? FHA? Conventional?
At what rates?
How much of a down payment will I need?
What are your bank fees, and are any of them negotiable?
What are loan fees associated with each type of loan?
What are typical closing costs for each type of loan?
Are there any restrictions set for the houses in order for them to qualify for each loan?
What are these restrictions?
If a home does not meet a loan qualification, for instance, if it does not have a refrigerator or if "flooring" is needed, can I set money aside in an escrow account to cover it - or would I have to get it fixed prior to the financing being approved?
Which, in your opinion, would be the best type of loan for me to get, given my situation?
Would you be able to provide a prequalification letter today?
Would you be able to pre-authorize me for any of these loans today? (Not pre-qualify...pre-authorize).
Do you charge for pre-authorization?
How long will you honor the pre-authorization?
Will you provide a Good Faith Estimate (GFE) for each so I can compare?

Good luck, and happy loan shopping!
Julie Pearce
Keller Williams Realty - Elite Partners
... more
1 vote 5 answers Share Flag
Sun Aug 1, 2010
Gerard Carney answered:
Her is the problem! you own enough things to make you lender think you have plenty of means to pay on the loan, if the home is too much for you then have to ask this question, what has changed since you purchased this loan. Were you always just able to make the payments. If so, you should not have gotten the loan and they should not have given you one! The fact is you now have a loan and you are by all since of the law, the responsibility to pay the loan back as agreed at time of signing. In the past many people buffered or bolstered their financial standing sp that they could get the loan. The problem there is that they lied to themselves and they set themselves up for the ultimate doom of Loan Default! You have to talk with you bank before you are at a point where you can no longer pay for the loan! Lets look at a few thinkgs that will maybe save you from this disaster. Do you Smoke? a pack a day smoker can save $150 per month by quiuting. Do you Drink? A six pack a day can cost you $200 or more a month, Do you like to eat out? A couple that eats out twice a week can save an easy $300 - $400 a month. Shop for generic products in both food and other materials can save several hundreds of dollars each month! Do you have Credit cards with decent limits on them? Pay you Mortgage with them and put what you can back in monthly payments, this will cause your debt ratio to grow, but it saves you from losing your house! Extras work or selling stuff you no longer need can help offset thos debt! It can keep your head above water for a year or two until better economic condition take over in your life. If I can help you in any way please feel free to call me 352-206-2371 ... more
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