Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in 08108 : Real Estate Advice

  • All13
  • Local Info0
  • Home Buying7
  • Home Selling1
  • Market Conditions0

Activity 6
Wed Jan 8, 2014
Gerald Santoro answered:
My assumption is you mean having multiple borrowers on the loan for an investment? qualifying would be based on information on all borrowers on the loan. As a federally chartered Bank and a Direct Lender, I would be happy to discuss with you in more detail and actually offer a FULL approval prior to going into contract.
Please reach out for me at your convenience. My "Team" and I look forward to the opportunity to earn your business.
... more
0 votes 1 answer Share Flag
Tue Sep 18, 2012
Robert Greenblatt answered:
Hi Shawn. it is likely that the rental incomce (or a portion of it) can be used to help him qualify. It's important that he contacts a lender who is well-versed at VA loan.
-Robert Greenblatt
Keller Williams Realty
... more
0 votes 2 answers Share Flag
Wed Sep 12, 2012
Shawn Burke answered:
Good Afternoon Francis,

In years past you may have secured some "creative" financing options, but not today. Lending guidelines have tighted up in order to prevent another housing disaster, such as the one we have lived through over the past 4 years. You can use income from a property towards the qualification guidelines, but you will need to have income and assets of your own in order to fully qualify for a loan. Lenders are more strict when it comes to income properties, versus a single family home.

Hope this helps.

Shawn Burke
... more
0 votes 8 answers Share Flag
Wed Sep 12, 2012
Shawn Burke answered:
Good Afternoon Jeces.

I would ask your agent if they have any lending recommendations that they could provide you. Most agents have relationships with particular lenders or brokers, but do not hesitiate to shop around. The lending industry has changed greatly over the past 3 years, and different lenders will have different terms, rates, etc.

Best of luck,
Shawn Burke
... more
0 votes 10 answers Share Flag
Wed Feb 22, 2012
Joy "Zaleski" Messner answered:
Dear Alissa,

Very glad you brought your question to Trulia - you've turned to a good place to get some answers!

I'm curious on why you are looking for a Lease/Purchase option? Often times folks want to do a lease/purchase because they would like more time to "save" for a down-payment, or may have some credit issues that need to be "cleaned up" before they can apply for a loan, or perhaps you want to secure a "sale price" on a home because you think prices may go up. There may be many reasons - but they might not be in your best interest. Are you familiar with how lease/purchase options work? Since I live and work in Collingswood, I'd be more than happy to sit down and explain it to you and learn a bit more about your situation.

I like helping folks make the right move! Whether it's renting, buying, or a lease/purchase.

Kind Regards,

Joy Messner
Lenny, Vermaat, & Leonard Inc., Realtors
90 Tanner Street
Haddonfield, NJ 08033
856.669.9949 (mobile)
856.428.9677 (x248)
... more
0 votes 7 answers Share Flag
Mon Jan 3, 2011
Jeffrey Halpern answered:
No matter what and unless stated by the seller in writing, all offers MUST be presented up until closing as you receive the offer not until the other one is not accepted. It is the law and part of the Realtor Code of Ethics. ... more
0 votes 8 answers Share Flag
Search Advice