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Financing in Delaware County : Real Estate Advice

  • All48
  • Local Info1
  • Home Buying29
  • Home Selling1
  • Market Conditions0

Activity 38
Fri Jul 7, 2017
Jessie.abernathy answered:
i am looking to buy a rental I've lived in for years.. i just need an appraisal because they informed me i have an option to purchase this property..
0 votes 7 answers Share Flag
Thu Apr 27, 2017
Mark Howe answered:
Hello,

Bank of America offers a HELOC up to 85% on owner occupied duplexes. This requires a credit score of at least 720 though.

Feel free to contact me for more details, I am a Senior Loan Officer with Bank of America. ... more
0 votes 1 answer Share Flag
Thu Nov 10, 2016
Jme503 asked:
Modified in 11/2010 from 134,000 to 164,000 Now at 139,000 trying to pay down principal but just won't happen. Escrow stays same at 471.62, P/I is 670.34. Payment is now almost back…
0 votes 0 Answers Share Flag
Wed Aug 19, 2015
Sally Grenier answered:
Sounds like you need to sit down with a local lender who can review all of your financial info.
0 votes 1 answer Share Flag
Fri Jun 19, 2015
Arthur R. Leahy asked:
Sat Mar 29, 2014
fairymuse88 answered:
Adapting your home in small ways can help you stay safer and more independent. Simply installing handrails and bathtub grab bars can help prevent falls and related injuries.
Home Adaptations for Independence helps low-income seniors and people with disabilities finance home modifications for accessible, safe and independent living. Eligible homeowners, renters and landlords can receive up to $20,000 per home in the form of a forgivable loan. ... more
0 votes 4 answers Share Flag
Tue Mar 11, 2014
Homebuyer1971 answered:
If rates are at 6% in two years then I'll stick with my payment, but it'd still probably go down with me having paid less, and not having to pay for pmi, If the vaule goes down then I don't know if rates will go up, if loss of job then I could afford to pay what I would get now. I don't want pmi and any loan I do is going to have it for a while , I'm at a loss for what to do to get it off either way ... more
0 votes 10 answers Share Flag
Tue Jan 21, 2014
Ron Beebe answered:
Hello there - as a Mortgage Loan Officer for PNC, the area's largest regional bank, I absolutely have your best interests in mind. With nearly 13 years of experience with homeowners in Chester, Delaware, Montgomery, Berks and Bucks Counties, I am very confident that our programs and pricing (rates) will appease you. My office is located in Berwyn. Is that convenient to you? If so please reach out to me on my cell phone at (484)802-1728 for a confidential review.

Regardless of your choice in mortgage lender, good luck!

Ron Beebe
Mortgage Loan Officer
PNC Mortgage, A Division of PNC Financial Services
PNC Bank, N.A.
www.RonBeebe.com
... more
0 votes 6 answers Share Flag
Wed Nov 6, 2013
Ron Beebe answered:
I am not strongly versed with the PHFA program, although I have closed several over the years. I would like to mention the fact that there is another program offered, 3% down, NO mortgage insurance, with good credit, and the ability to have a large part of the 3% down payment provided to you by a gift!

Coupled with this is the fact that in certain areas, there is an additional $1200 grant provided that can go towards the 3% down payment.
... more
0 votes 3 answers Share Flag
Sun Sep 1, 2013
lendersnetwork answered:
Yes you do qualify now for a new program for FHA by HUD for people with a short sale you just need 12 months from the date of the short sale or foreclosure.

The U.S. Department of Housing and Urban Development (HUD) recently announced the “Back to Work – Extenuating Circumstances” program, aimed to help people who have lost their home through foreclosure, short sale or bankruptcy. HUD has reduced the previously required minimum of 36 months to 12 months before they may be able to finance another home, given that they meet HUD’s minimum eligibility requirements. ... more
0 votes 6 answers Share Flag
Thu Aug 29, 2013
Monica White answered:
The United States government has grants available for all kinds of home improvements. To qualify for one of these grants, you have to show what home improvements are necessary and that you can't afford to pay for the home improvements. If you're approved, you'll receive the money and will be able to start renovating your home. ... more
0 votes 3 answers Share Flag
Fri Jan 11, 2013
Colleen Billups answered:
I have had a mortgage with PHFA since 2008. Can someone tell me which document to view in order to find the residency requirements?
1 vote 5 answers Share Flag
Mon Nov 12, 2012
R. Eric Axelson answered:
Chris, Zillow has nothing to do with refinancing your home. Your bank will do an appraisal. Good luck to you.
0 votes 12 answers Share Flag
Thu Jul 19, 2012
Emily Morgan answered:
If you have owned your home for quite some time or if you put down a good amount of cash when purchasing your property and your home’s value has not declined substantially with the real estate crash, you may be able to use the equity in your home to secure a home equity line of credit (HELOC). A home equity loan enables you to draw from the difference between the current mortgage loan balance and the amount of principal that has accumulated. ... more
0 votes 2 answers Share Flag
Thu Jul 5, 2012
Gregorio Denny answered:
I love how agents say to AVOID online lenders when they themselves are here... ONLINE... for one reason only; to get business ONLINE.

What makes an "online lender?" Does having a website make you an online lender? I think everyone has a website these days, so what is the definition? Taking an application online and streamlining the process through technology does not mean lack of attention, lack of qualification or lack of professionalism.

If one should avoid online lenders, by the same token should one avoid online agents?
... more
0 votes 20 answers Share Flag
Sun Jul 1, 2012
Alan Openshaw answered:
Hello Nick,

I don't know whether you have an 800 credit score or a 620. I don't know whether you have been salaried or self employed. I don't know whether you have 5% to put down or 50%.

I do know that you do not understand everything about the mortgage process
I do know how to get you to be in the best position to buy a house in 9 months.

Asking certain questions about your situation and explaining the importance of these makes you amore educated buyer with a better chance of getting approved and at a good rate.

I got a call from someone yesterday who wanted to buy a house. I declined them in two minutes. Good income, good credit and they had a down payment. They should have called me 6 months ago and they would have been approved today.

Call me and I can make sure that doesn't happen to you.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010 & 2012
NMLS ID 143960
... more
0 votes 11 answers Share Flag
Wed Jun 20, 2012
Emily Morgan answered:
The U.S Department of Housing and Urban Development (HUD), federal housing program financially helps moderate or low-income families with disabilities to rent or buy a home. The goal of this program is for people with limited economy to be able to afford to rent or buy a home. Section 8 offers subsidies for both renters and home owners. Approved recipients will be granted monthly home ownership assistance payments to help cover mortgage payments. ... more
0 votes 2 answers Share Flag
Wed Jun 13, 2012
Sue Olshefski answered:
Hello Cookiedoughjr-
As a first time home buyer, there is so so much to know! And the truth is, you don't know what you don't know. A good agent will be able to walk you through the process, start to finish, and everything in between! It is an unbelievable, exciting time to buy a house! Good luck, hope it works out!

Sue Olshefski
Weichert, Realtors
... more
1 vote 8 answers Share Flag
Fri May 11, 2012
Alan Openshaw answered:
Hello Chris,

According to recent statistics, home values are back to 2002 levels.......It's not true for every location and this is a broad generalization so please don't ask me to validatre this information.

However accurate or inaccurate zillow may be, an appraisal iotself is a crap shoot.
Two instances this year. My client had his house appraised at $485,000 with another lender and the loan was denied. My lenders appraiser (ordered through a management company) came in at $615,000. Also I had a house appraised at $385,000. I cahllenge it with comps and the appraiser re-valued the home at $465,000.

So it is extremely difficult to predict where an appraisal will come in at.

Regards,
Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
VOTED BEST IN BUCKS 2010
NMLS ID 143960
... more
0 votes 3 answers Share Flag
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