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Home Buying in Joliet : Real Estate Advice

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  • Local Info13
  • Home Buying38
  • Home Selling7
  • Market Conditions7

Activity 39
Mon Nov 6, 2017
Fatimawatkins1 asked:
I would like to have my Own Home & don't want to live in fear. I don't have any where to go. Please Help me.
0 votes 0 Answers Share Flag
Wed Jun 15, 2016
Andrewfobes0311 answered:
This is a little late from the post, hopefully others see it.

The single biggest surprise fee that most VA users are likely to see is the VA funding fee. The reason no down payment or PMI is required is that the VA guarantees a portion of the loan, your "entitlement", and requires capital to keep the program going. With no down payment it is 2.15% of the value of the purchase, or about $8,000 on a home valued $375,000. Unlike the down payment, this does not go towards the mortgage and is separate from the lenders fees that will be charged by the bank. Those fees are typically around 1% of the value of the loan and are interestingly limited by the terms of the VA. If your lender violates the guidelines set forth by the VA, they can lose the privilege of administering VA loans altogether, though I'm unsure how often that actually happens.

To reiterate, this money goes to the VA to keep the program alive, your other fees go to the bank, government, etc. to actually fund the process of buying the home.

You have the option of putting a down payment with a VA loan to reduce the percentage of the funding fee as well, depends on your personal finances. You may also be able to wrap the funding fee into the value of the loan itself, depending on your lender.

One final note, unless you are subject to the alternative minimum tax (AMT), you may deduct your funding fee along with your mortgage interest! This is a great tax strategy and can help with the pain of inevitably having to buy a new roof or HVAC system your first month in the house.
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0 votes 10 answers Share Flag
Wed Apr 13, 2016
Christina Feeney answered:
Hello,
Have you looked into Home Partners of America? This is one company that specializes in this. Please contact me for further information.
Thank you,
0 votes 1 answer Share Flag
Sun Mar 1, 2015
My NC Homes Team answered:
Be extremely careful as I can assure you rent or lease to own is more often than not a sure fire way to get taken advantage of. See the article I've linked below. There are certainly hard money investors out there but you should expect to have to pay roughly a 2% origination fee and 12% interest (at least that's the going rate in our area) and this is likely to end up badly. ... more
0 votes 1 answer Share Flag
Fri Mar 28, 2014
Eric asked:
I saw a bank-owned home listing that came up for one day last month. The listing on Realtor.com showed it as "active" but the listing agent put a note in the description that there was…
0 votes 0 Answers Share Flag
Tue Mar 11, 2014
answered:
Splicer12: Again, the best way to get specific answers is to hold a full conversation. I have options available, but we would need to talk about specific scenarios to give you options to consider. I have spent my entire business career providing loans in the areas you are considering. Feel free to reach out and ask your questions at your convenience. I'd love to hear from you ... ... more
0 votes 5 answers Share Flag
Wed Feb 5, 2014
answered:
The foreclosure shouldn't impact your ability to be pre-approved, the high DTI ratio might. The only way to know for sure is to get a professional assessment which would look at your income, assets, liabilities and creditworthiness. I work with over 40 lenders to provide more opportunities and the best possible financing. Feel free to contact me with questions, or to see if we can work out a pre-approval.

Thank you,

Ashley Pimentel
Market Place Mortgage
Lombard, IL 60148
Phone: (630) 217-7013
apimentel@marketplacemc.com
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0 votes 2 answers Share Flag
Tue Nov 26, 2013
answered:
Hi Troy:

I am a local mortgage broker and would be happy to help you get pre-qualified for this home or any other one you may be interested in. We work with over 30 lenders to help you get the best possible financing. We specialize in FHA, VA, 203k renovation loans and Reverse Mortgages for refinance and purchase too! Were other banks require a 640 and above score to help with financing, our lenders will go as low as a 580 score on an FHA mortgage. SMC carries an A+ Better Business Bureau Rating and we have worked in the community for over 15 years!

Please call or email me so we can set aside some time to get you prequalified; or visit my website to complete the application www.smartmortgageinc.com.

I look forward to working with you!

Best regards,

Patty Harrison
Smart Mortgage Centers
630-478-2684 / 630-854-3459 cell
patty@smartmtgs.net / http://www.smartmortgageinc.com
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0 votes 1 answer Share Flag
Tue Nov 26, 2013
Brian Nguyen answered:
There are lenders like myself that are able to accept scores as low as 580. So if your scores are above that, then you will have a better chance. It is also important to realize that your ability to obtain a loan relies on other unmentioned factors such as assets, debt, down payment, etc. The best thing for you to do is to speak with a lender directly to see if there is anything that can be done for you. I would be glad to speak with you to help you get the loan that you need. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 7 answers Share Flag
Mon Nov 11, 2013
Suzanne Hamilton answered:
Depending on the status of your credit and timing, there are several options.

Please feel free to contact me for information. I have done this scenario several times with other buyers and can give you some ideas. ... more
0 votes 1 answer Share Flag
Sat Nov 9, 2013
answered:
ita2331: I know and have worked with many of the real estate professionals in the Joliet area for well over 30 years now. I'd be happy to recommend professionals that would be able to assist you ... and best answer your questions. If I can be of assistance, please do not hesitate to contact me at your convenience. ... more
0 votes 5 answers Share Flag
Sat Nov 9, 2013
answered:
Carmisha,

Let me know if you need help getting pre-approved for a loan. Our company works with over 40 different lenders, so we have a better chance of finding the right loan to fit your needs.

Thanks,

Ashley Pimentel
Senior Loan Originator
Market Place Mortgage
246 E Janata Blvd. Suite 220
Lombard, IL 60148
Cell: (630) 217-7013
apimentel@marketplacemc.com
... more
0 votes 6 answers Share Flag
Fri Oct 18, 2013
answered:
I'm not quite sure what your are asking. If you would like to call or email me directly, I would be happy to try and help you.

Best regards,

Patty Harrison
Smart Mortgage Centers ... more
0 votes 1 answer Share Flag
Mon Sep 9, 2013
Brian Nguyen answered:
Yes, FHA loan are a common and popular loan for many borrowers. But it's hard to answer this question because what exact credit score do you have? I can't tell what you mean by "really bad." Either way, I have been able to give FHA loans with credit scores as low as 580. If you still do not fall under this category, you can still give me a call or email me so I can point you in the right direction. I would be glad to help you so that you can get the loan you need. So don't give up yet! Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! ... more
0 votes 5 answers Share Flag
Tue Jul 16, 2013
Suzanne Hamilton answered:
I have seen this done before, but it also depends on if his name is on the mortgage. If not, it is possible. His credit and income would be the sole qualification and your income would not count and your name could not be on the deed until the lender allows it.

I would contact a mortgage broker that you want to work with and ensure they will accept that.

On the short sale though, you need to ask your current lender, but if you file joint taxes, they could use that as a qualification of hardship evidence. If you have no income effecting hardship, you may not be eligible to short sale. Check with your lender.
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0 votes 2 answers Share Flag
Wed May 29, 2013
Bryan Kasprisin answered:
Hi lisa. Lots options out there. I will send you some today. Would love to help you in anyway that I can.
0 votes 1 answer Share Flag
Fri May 17, 2013
Riccardo Wardlow answered:
We are USDA loan specialists. Give me a call. My wife and I are actually doing a USDA purchase loan in the Clublands subdivision in Plainfield right now.

Sean Cochran
Quality Mortgage Lending
www.qmlending.com
630-330-2229
sean@qualitymortgagelending.net
... more
0 votes 2 answers Share Flag
Tue Apr 23, 2013
Alison Hillman answered:
You can contact the listing agent who will be able to help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's Trulia listing and you will be able to start a dialogue.

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Best,
Ali, Trulia Voices Community Manager
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0 votes 1 answer Share Flag
Wed Mar 20, 2013
Anna M Brocco answered:
If you are a for sale by owner the post is not allowed, you can however try blogging about the property; if and when you do list with an agent, he/she can post it for you, ask; or consider any flat fee realty company that feeds into the site. ... more
0 votes 3 answers Share Flag
Thu Jan 10, 2013
Riccardo Wardlow answered:
Hi Rachel,

I'm not sure if you ever got an answer to this question but give me a call when you get an opportunity. I would be happy to discuss all financing options with you.

Sean Cochran
630-330-2229
... more
0 votes 1 answer Share Flag
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