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Financing in 22314 : Real Estate Advice

  • All45
  • Local Info8
  • Home Buying15
  • Home Selling3
  • Market Conditions1

Activity 7
Wed Apr 12, 2017
Patrick Widen answered:
Dear Sir/Madam,
Société Générale funding mission is to conduct ourselves in a manner that maintains high standards of business ethics with consumers, thereby transacting business in such a manner as to merit way
- Asset Based Lending
- Bank Guarantee’s
- Business Acquisition Financing
- Commercial Real Estate Loans
- Commercial Real Estate Refinancing
- Commercial Construction Financing
- Debtor-In-Possession Financing
- Equipment Financing & Leasing
We encourage you to contact us and learn more about the loans service we offered. If you have any questions or want more information about our company, please feel free to email us: Jean-Bernard@financier.com

We look forward to hearing from you.

Best Regards
Jean-Bernard
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0 votes 7 answers Share Flag
Sat Nov 14, 2015
Dan Tabit answered:
Bknuth,
I'm not aware of a law, but if the lender used a rebated to cover your loan fees, which may have appeared to you as a no cost refi, then they may charge the loan originator back those fees. It's also a matter of your appraisal. If you recently purchased the home, a lender will use the lower of the purchase price or the appraised value for up to one year, unless there was a substantial change to the home. ... more
0 votes 1 answer Share Flag
Mon Dec 6, 2010
Delaine Campbell answered:
I'm just curious if you were provided some assistance by a Buyer Agent or if this is a refinance?
Most Buyer Agents know that there is an adjustment for condo loans versus TH';s versus Detached/Single Family Homes. It's higher risk for the lender. Also rates vary based upon the ratios of the buildings, etc. Some buildings you can't get loans on because of the over 51% investor ratio - which is the case in many buildings where the builder couldn't sell and rented or with people who over paid, then had to rent to move....
If you are buying something, please get yourself a good Buyer Agent who can help you understand what questions to ask when interviewing lenders.

In this case I'm sure the lender wasn't doing a bait and switch, you simply failed to provide her accurate information and she failed to clarify what type of property you were purchasing. Create yourself a checklist.
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0 votes 14 answers Share Flag
Fri Oct 8, 2010
answered:
In theory you would need to get the HELOC first, and it would complicate the process of obtaining a new mortgage, ie: potentially adding the new HELOC to your credit report, requiring all the terms of the HELOC, calculating the new debt against you when it is determined how much the check from the HELOC will be, etc. The easier way to go about it IMO would be an 80/10/10. If you would like to give me a call I can explain the 80/10/10 and see if you would be qualified. ... more
0 votes 11 answers Share Flag
Sat Feb 13, 2010
Ramesh Chandra answered:
Mr. Mishra is right.
If u r seller concessions r $15k and ur other costs donot add upto $15k, the origination fee is picked up in the seller concession. Seem to be that there is no fraud, that u did not gain or lose anything. U could have asked the settlement company to run a tape of everything included in the seller concessions. U good settlement company will normally have run a tape for their purposes and for lender approval. They should have showed and explained trhe tape. Ur agent should have asked for the tape and made sure that the settlement company explain u the items that went into the seller contribution.
rgds,
Ramesh Chandra
703 635 8209
mepcigroup@gmail.com.
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0 votes 4 answers Share Flag
Wed Sep 23, 2009
Danilo Bogdanovic answered:
Elsa,

I've never had a buyer using a credit union for financing looked at in a worse light than a buyer using a typical bank.

Ask other credit union members that have used them for financing. And remember...the track record of each particular loan officer is just as important as the overall track record of the bank itself so ask for the name of the loan officer they worked with.

Danilo
http://LoudounScene.com
http://LoudounForeclosures.com
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0 votes 5 answers Share Flag
Sat Sep 5, 2009
Vicky Chrisner answered:
The post below seems pretty informative. I have 4 lenders on my web site (click on Preferred Lenders). One is SunTrust, and you have their answer below. BofA is also a big bank, so will likely have the same type answers. For more creative financing options, contact Pat Cunningham - he's very good and they have some more flexible loan options than elsewhere. Shane will not be able to help you - they loan for builders, not home buyers. ... more
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